4 mins to read,
March 9th, 2020
To stand out as an agent, you need to make a strong first impression and follow this up with top-notch client service. One of the most effective ways to grow your real estate business is through referrals. Here are 9 powerful ways to increase real estate referrals from our B2B Marketing Director.
- B2B Marketing Director, Property Finder
The stronger the relationships you build, the higher your chances are of being referred. In a survey of real estate agents by marketing firm Outbound Engine, it was found that 75% of a successful real estate agent’s business comes from referrals and word of mouth. However, the same survey reveals that only 20% of your past and present clients are referring their family and friends to you, leaving a lot of opportunity.
Nurturing this segment could be your biggest source of new deals. The key to repeated referral business is through continued and consistent contact.
This may seem obvious, but the first step in organically receiving a referral is providing outstanding service that is worth telling a friend about. Also, asking your client for a referral becomes much easier when you know you have provided exceptional service. Strive to always be responsive and available – follow up with clients and return calls or emails in a timely manner. Keep your call answer rate high – use our free Lead Tracker app to access your call leads in real-time. Our free Call Tracking within the app records your calls even if you miss them, so you can listen to them and respond as soon as you become available. And last but not least – activate WhatsApp Leads for free to instantly answer your customer queries, leave voice notes, and more.
The top reason agents lose clients is because they fail to keep in touch. Keeping clients engaged through email, social media or mobile with useful and relevant content can help to keep the relationship warm. This will also assist in keeping you front of mind for referrals or even repeat business. Email consistently ranks as the number one channel for awareness, conversion and retention. Focus on sending your clients informative content that will resonate, such as market updates or community updates.
It is highly likely your customer’s home buying journey will involve the expertise of other service providers, for example, a mortgage advisor, valuation professional or interior designer. You should seek to connect and build relationships with a variety of industry professionals to recommend to your clients. In turn, they will promote your services also. Cross promoting is a powerful way to win more referrals.
Increasing your connections and sphere of influence will amplify your chance of winning referrals. Attend our in-house training events such as the Property Finder Masterclass or myCRM Masterclass to refresh your skills. They’re great for building your network, especially if you’re new in the industry. The Property Finder Real Estate Awards are also an opportunity to connect with like-minded industry professionals and build your reputation.
Always have your business cards on hand, as the exchange of cards can often take place in the most unlikely of places!
With that said, it is the digital age. Separate yourself from the rest by downloading relevant data from Price Finder into a branded, two page “Pricing Report” PDF with just a few clicks. It will display your name, photo, company logo and contact details. Print, share via email or WhatsApp – directly from the Lead Tracker app.
Property Marketing Report (available from Manager) will detail a listing’s performance (views, clicks, leads), to help you make supported recommendations to sellers and landlords on how best to market their property. It is branded with your company logo, photo and contact details. If you’re a verified agent, it will note that also for added credibility.
Both reports are created for qualified agents, to gain competitive advantage, professionalise your offering and gain referral business in the process.
Asking clients for referrals is one of the simplest and most effective ways to grow your business. Many customers are more than willing to spread the word about great service, they may just not know-how! When asking for a referral, be specific. Ask for a testimonial you can display on your website, blog or social media.
Participate in our monthly Outstanding Agent Award competition for a chance to earn the title of the best agent in Dubai, Abu Dhabi or the Northern Emirates. If you win, you score bragging rights and guaranteed exposure. You will be featured on our social media and the Property Finder blog, which reaches an audience of hundreds of thousands of followers. Being featured as an expert will increase your chances of receiving referrals.
Building an engaged and relevant following on social media is a great way to interact with potential clients and be referred. Use your platform to share valuable and informative content on the latest news, market insights, or deals you have closed.
Motivate your referral sources. Particularly with enormous appreciation! Show gratitude to your sources whenever they send you a referral — not just when the lead converts to a sale. If you only acknowledge the referrals that turn into sales, you will limit the number of referrals you receive. Consider sending a handwritten thank you note, or even a gift card. Keep your referral source up to date with its progress, particularly if the referral is a close family member or friend. In the case the referral does not eventuate, it is still best practice to say thank you.
