Word-of-mouth marketing generates more leads than any other. As every realtor knows, asking for referrals is crucial to boosting your businesses growth rate. In fact, 84% of realtors we recently polled said referrals were the greatest source of increasing sales.
But, how do you ask for referrals in a way that is authentic and effective? Many people aren’t sure how to begin writing a referral or know exactly what you are asking for. Providing them with examples or past referrals can help drive action and give them a template for tone, length, and content.
And like many things in life, timing is everything.
Send Periodic Follow-up Messages to Past Clients
Perhaps the most crucial way to obtain real estate referrals is by staying in touch with past clients. There are probably plenty of people in your sphere of influence that would love to refer you to friends but simply need to know your best contact information.
This is where CRM software that can improve your communication with clients while keeping track of every customer in your greater contacts list.
Use Referral Cards and Run Referral Contests
When sending a hand-written thank you note to clients, either at or immediately after closing, add an incentive in the form of a referral card that can be exchanged for a physical or digital gift card or gift certificate ranging from Amazon.com to a local restaurant. Incentives drive action and if the real estate transaction was favorable, clients are more likely to recommend you to a close friend, colleague, or family member.
Some agents have had great luck (and great fun) with referral contests that reward clients with a tiered-level of incentives based on the quantity and quality of referrals they provide in person and on social media. Before implementing a referral contest, be sure to review your social media channels, website, and Google Business page and verify links are not broken and that your contact information is correct.
Stay Involved in Your Community
If possible, donate or sponsor community events like community theater, sporting events, or fundraisers. Not only are you helping to make the events possible and successful, you are building brand awareness for yourself and your business. While not asking for referrals directly at the event, you can promote and display your best referrals on promotional materials and your social media pages that promote and share the event in print and digitally.
Use a Real Estate CRM
A real estate CRM not only helps you get more referrals but it also helps you track referrals more effectively, increasing your odds of converting them to clients – whether it’s right away or down the road. What you do with your referrals, specifically how you manage and keep in touch with them, can make a significant impact on your business.
Start realizing the benefits of IXACT Contact’s Real Estate CRM today.