4 WAYS TO GET REAL ESTATE REFERRALS
One of the biggest misconceptions in real estate is that the only way to get a referral is through past transactions. Yes that is one of the ways but there are other ways that real estate agents can acquire referral business. Here are the four ways I explain in my workbook, “Work for the Referral, Not the Commission.”
Way #1 – Past Clients
This is the most common way for real estate professionals to build a referral based. These people have worked with you. They know your work ethic and the value you bring to the table. If they were satisfied with your service, they will refer you. Stay in contact with them even after the sale to ask for the referrals.
Way #2 – Sphere of Influence
These are the people who know, like and trust you. They will be your biggest cheerleaders. I often say, my best client was the one who never bought a house from me. Why? Because this person referred many others that purchased. If someone is seeking the services that I offer, I want my sphere to remember my name first. I send holiday cards, newsletters and market updates to stay front of mind with my sphere.
Way #3 – Service Partners
In order to get referrals, you have to give them. I refer service partners in the industry to my clients on a regular basis. I have a list of lenders, attorneys, inspectors and contractors (to name a few), that I refer to clients in need. In turn, these service partners extend business back to me on a regular basis. It is definitely a partnership.
Way #4 – Realtor Referrals
There are Realtors who base their entire career on referrals to other realtors. If you have a client who is moving out of state or perhaps a client who is seeking a property out of your expertise area. Instead of losing the client, refer them to another Realtor who specializes in what they need. Ask for a referral fee. Something is much better than all of nothing.
If you are ready to take your business to the next level by building a solid referral-based business, “Work for the Referral, Not the Commission” is a necessity. Get a copy now. Plan the next successful year of business.
It is possible to acquire real estate referrals even if you have never had a transaction. Here are 4 solid ways to start building a solid referral based business.