5 Proven Real Estate Referral Sources & How to Use Them to Get Leads
Real estate agents survive off leads. Without a consistent flow of leads coming in, you won’t be able to generate business. To improve your chances of success as a Realtor, you need to cultivate several referral streams to feed your business continually. There are many referral sources available to agents, but we will dive into five that are tried & true. We will walk you through how to leverage them for quality leads. As you read, remember that it is important for you to always keep your name in front of your target audience and to find creative ways to incentivize them.
The most impactful way to leverage past clients as referral sources is to do a good job when they’re current clients. Your work ethic and ability to negotiate deals in their favor are the most important things you can do. After closing, take measured steps to stay in front of them. One of the best ways to do this is by using digital marketing automation to schedule post-close outreach. Using this technology will enable you to add each closed client to an email list. Then, use the emails to share tips, local events, and invite them to events you may be hosting. Periodically, you can send them a personal email to show interest in their lives beyond the business transaction. This provides an excellent opportunity to let them know that you rely on the referrals of great clients to keep your business going. Be direct when asking them to send people your way.
You will never have more direct contact with your clients than you do while in the middle of the home buying or selling process. This is the time for you to make a lasting impression. Try to make the painstaking moments as positive as you can, and celebrate the accomplishments you achieve as a agent-client team. Celebratory moments provide perfect opportunities to begin asking for referrals. Don’t be pushy; simply ask whether they have friends or family who may be considering buying or selling a home. Happy clients are the key to word of mouth referrals, so be sure to keep them happy throughout the process.
Social media is a wonderful place to get new leads for your real estate business, if you use it right. According to the National Association of Realtors, 47% of Realtors cited social media as the best tool to generate high quality leads. You can’t afford to forego this mostly free platform in your quest to get quality referrals. Your primary objective is to keep your name in front of your target audience. This is an ongoing initiative that must be done strategically, without annoying your followers. In order to avoid frustrating your audience, make sure the content you are sharing is relevant. Let’s look at three ways to leverage social media to grow your business.
1. Showcase your local expertise
Let your audience know that you are a go-to source for information in your area, by sharing the following types of information:
– Your favorite eateries, shops and centers of attraction
– Exciting events coming to your city or township
– Important market information
– Special offers from your local strategic partners
Keep in mind, social media users love pictures. So, take some nice postcard quality photos while you’re out on the town.
2. Advertise Listings
Don’t miss your opportunity to feature your current listings. Post high quality pictures that show your properties from flattering angles and highlight recently renovated rooms. You will have more flexibility in how your showcase your properties on your own social media pages than you will on the MLS listing, so be creative!
3. Share testimonials and reviews
Real estate agents know reputation matters, but with the advent of online review platforms came a great amount of consumer reliance on online customer reviews. When you get great reviews or praise-filled messages from your clients, use your social media pages to show them off. Your past and current clients’ insight may be the one thing needed to convince an indecisive follower to get in touch with you.
Creating multiple referral streams is the primary goal of making partnership connections. However, you have to remember that partnerships work best when you actively nurture them. You have to stay connected with your partners and leverage them to see a return. Regularly visit their businesses or send emails to inform them about the exciting things you’re doing. Use these regular contacts to ask them if they have any current offers and volunteer to promote them on your online platforms. Each partner brings his or her own unique benefits to the table. If you have partners who are centers of influence in your community, take an extra step and schedule coffee time with them. This is an excellent time to introduce them to high dollar referrals in a warm hand-off. In your post-meeting follow-ups, leverage fruitful referrals by asking for more referrals in exchange for the ones you’ve sent to your partners.
Your website is one of your most powerful online tools. It’s the online portal clients will visit to get to know you and find valuable information. YOU are a business; YOU are a brand, and your website visitors want to learn who YOU are. Your website should be both informative and persuasive, so use it to show off your local expertise just as you do with social media. Include a page or directory of local resources your clients may need. You should also prominently display positive customer testimonials. This is a great way to leverage its power.
According to the NAR, 92% of respondents said the most common feature on a firm’s website is property listings. As a real estate agent, your website should have IDX integration to display MLS listings. Buyers are looking for property listings on your site, but to take full advantage of this feature you need CRM. When selecting a web designer, choose one that offers CRM technology to capture leads directly on your website. This cutting-edge technology ensures that your website is working for you while you’re out working on your business.