Now that the busy summer buying season is slowing down, focusing on getting new leads is more important than ever. It’s no secret that referrals are one of the most important sources of new leads for Realtors®. What may be more unclear is how to get referrals consistently, month after month.
The vast majority of consumers are willing to give a referral right after a transaction. How you ask, and how you follow up on your request, will make all the difference in actually getting those referrals.
Have Value Discussions
Value discussions are times when you sit down with your client and check in to ensure that they are getting the value they are looking for from working with you.
Many times as Realtors® we assume that if we do our real estate job, the customer will automatically be happy. But unfortunately, we’re missing the fact that each customer has different expectations.
Instead, sit down periodically with your clients and ask them if they have any concerns, and then ask them what they love about working with you. When you get them thinking about you in this way, they are much more likely to share that with others.
As an example, a manager asked Louisiana financial advisors to schedule 12 value discussions with clients in a six-week timeframe. The 14 advisors who did so generated 132 referrals from those discussions alone. It’s powerful!
Make Asking for Referrals Part of the System
You almost certainly have certain processes you follow in your business. For instance, you might gather certain information about someone before showing them a property or prequalify a new buyer before showing them a dozen homes.
You can set up referral requests to be part of your system as well. Make it part of the checklist – after closing, contact the customer to ask for a referral.
When you make it part of a system, you’ll be much more likely to do it 100% of the time. And that means you won’t leave money on the table by forgetting to ask.
Ask Multiple Ways
People are busy. They don’t always see a specific request, and even if they see it they don’t always respond the first time.
When you ask in multiple ways, you make it easier for the customer to say “yes” and actually refer someone to you. So, send an email, and then follow up with a postcard. Finally, when you deliver your closing gift, ask in person.
By using three different methods to ask, you’ll be not only reminding them of your request, you’ll be giving them three different opportunities to answer in different ways. No matter how they are comfortable communicating, you’ll hit it!
Give a Specific Context
Too many Realtors® ask very generically, “Do you know anyone who needs a Realtor®?” Many times, even if they do, your customers will say no.
Because it’s out of context! You’re asking them to think of the whole universe of people they know and figure out who might need a Realtor®. Instead, make it very easy:
“Do you know anyone that you work with who has talked about moving lately?”
Now, they have context. They can think about folks they talk to at work and think about who has discussed moving. You’re much, much more likely to get a yes.
Obviously, you can choose the context that makes the most sense to your client. If they don’t work, ask about their parenting group, or church, or whatever type of community they are most active in.
Getting consistent referrals month after month isn’t rocket science. It’s a matter of talking about the value you provide, asking for referrals 100% of the time, and using different methods of communication. Finally, ensure you give your clients a specific context.
Get started today – order postcards to ask for referrals. Add that to email and in-person requests, and your referrals will be consistent and profitable!