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Maximizing Referrals

August 11, 2011
Daphne Johnson

From Loan Officer Daphne Johnson

Word-of-mouth. It’s vital to the success of most businesses, but particularly to real estate professionals who rely on it to expand their customer base. Articles, blogs, videos all give ideas on things you can do to connect with your customers, but sometimes they are so tactical, they overlook the big picture.

Here are some big picture ideas for developing new referrals:

1.  Revisit your referrals sources:

A good referral source is someone who is around other people who express a need for your service.  So, get back to the basics.  Think of what you deliver to clients. Such as: first time homebuyer counseling, short sale expertise, or knowledge of particular areas or neighborhoods.

 Write down a profile of the customers who need that type of service. Then write down everyone you can think of who has contact with those type of customers. You may find you have referral sources you hadn’t realized.

2.  Make it obvious:

Share testimonials and tell stories about customers you’ve helped to move into a home. Give examples. It’s much easier for a referring friend or acquaintance to identify a potential customer when you give them specific situations.

3.  Motivate them to make referrals:

In real estate, this can be tricky, but a warm, handwritten thank you note is always appreciated and a referral back to them is especially valued.

4.  Increase your visibility:

You know this one – more exposure to more people generates more referrals. It gets your name out there and builds on any other marketing or word-of-mouth already happening. It also cements your tie to the community you live in.  This is particularly important for real estate professionals, who are often chosen for their knowledge and familiarity in the local area.

5.  Develop an impeccable reputation:

This may almost seem too obvious to be in this article, but ultimately, if you don’t conduct yourself with honesty and integrity, negative word-of-mouth will outrun any positive buzz you work to create.



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