Gaining new customers in the real estate business is a challenging process requiring expert skills and strategies to successfully reach sales goals. One of the most reliable ways to close deals since the recession has been through word-of-mouth referrals. Whether clients post on social media or physically hand a friend their realtor’s business card, this method is one of the best ways to build a loyal clientele base. Learning to create a sustainable referral process is crucial toward the longevity of any real estate agent.
Consider the following 5 steps in the process of gaining client referrals:
1. Learn the Target Audience
In marketing, it is important to research and articulate the specific target audience of certain materials. In real estate, knowing the clientele and understanding what type of properties attract certain people is equally as important for creating satisfied clients.
In addition to researching the target audience, real estate agents should do some self-reflection. The mission and services of each agent should be clear to the client immediately. Realtors should take five minutes to construct a mission statement describing their identity, purpose, and audience. Taking the time to review and practice this brief description each day will help give that individual a unique voice in the industry.
2. Build Trust
Proving trustworthiness takes time and dedication, but the long-term fruits of the labor are worthwhile. When clients feel their realtor genuinely has their best interest in mind, they become comfortable and more inclined to refer friends to that same realtor. Earning trust over time will greatly improve any real estate agent’s ability to close current clients and gain referrals along the way.
3. Ask For Them
Not getting enough referrals? Start asking! Although there is a fine line between being pushy and simply asking for the referral, real estate agents can occasionally ask this favor without compromising their agent-client relationship. When the job is done well, clients are happy to pass along the word about the excellent service they received.
4. Make a Cheat Sheet
Real estate agents should help clients understand what services make them stand out over the competition. Agents should create a cheat sheet with important information about what they do and why their service is superior to other individuals in the real estate industry. Contact information needs to be easily accessible, and a request for referral should be included.
5. Make the Entire Process Easy
Simplify the process for clients by providing them with links to your social media accounts, emails and newsletters to learn more about you. Provide access to review sites like Yelp and Angie’s List so prospective clients can read about the experiences of others. Continue promoting a clear mission and purpose. When coupled with a job well done, realtors who follow this process will experience abundant success.
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