In business, client referral programs involve a process of asking your current (or recent past) clients to refer you, your business, and your services to other people; people within a network and a sphere of influence. Typically referral programs are free (no strings attached) or linked to an offer or incentive for the referee.
Referrals remain one of the best ways for real estate agents to connect with qualified, warm leads. Increasing your referral business can significantly boost your sales–and with much less hassle than trying to convert online leads.
Research indicates real estate referrals are crucial for growth and the easiest way for an agent to get referrals is through past clients who had a positive experience with them and their brokerage.
Even with all of the digital information and options we have at our fingertips these days, we still look to those we trust for referrals and recommendations. In fact, 84% of consumers say that they almost always trust referrals or recommendations from their friends or family when it comes to products and businesses.
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.
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