It’s no secret that most of us in real estate would rather have a referral-based business than banging on cold doors where no one answers. Or worse yet, they do answer and are none too happy to find you at the other side of it. Think about the kind of business that has people calling you, saying their friends insisted that you were the best and they can’t wait to meet you. Well, rest assured that kind of real estate practice IS within your grasp. I know because I’ve done it myself and I’ve helped my coaching clients and readers do it too. If you’ll follow these ten tips, I’m pretty sure you too can create a robust real estate referral-based business yourself.
1. The first covenant of referrals is relationships. People will not put themselves on the line to refer just anyone; it has to be someone they have a vested interest in or relationship with. Your first job is to create and maintain relationships.
2. Offer value first. Everyone seems to want something from someone these days, but true is the heart that really wants to help. The value you offer could be in the way of a thoughtful Facebook comment, a handwritten greeting card, or some other thoughtful gesture. Please note, preparing a CMA does not count because there is a perfectly acceptable desired outcome, but here we’re talking about giving value for the sake of giving, not receiving.
3. Remember that not everyone is a prospect, but everyone knows one. If you walk into a networking event wondering who might be needing to buy or sell a home, you’ve lost the room. No one wants to be sold to or to be considered a source for your next paycheck. Going back up to #1 and recognizing that relationships trump all else, you’ll never consider this a numbers game again.
4. Your database is your goldmine. You should be deepening the relationships you already have cultivated. Your sphere or database are your goldmine. Make sure you’re connected with all of these people on social media and keep in constant contact. Put them on birthday campaigns, monthly check-ins, and phone calls so that these relationships get better over time.
5.Your goldmine has to grow. Using social media, getting hyperlocal, you should be making new connections everyday. But remember, just “friending” someone on Facebook does not build a relationship. Send PM’s and make comments on their posts. Go to “met”working events, join clubs, send cards. Get to know people on a real level, human to human. Forget real estate as you build new relationships; your job is to make friends.
6. Learn how to converse. Instead of converting, think about conversing. After all, all transactions are basically built on conversations that ended in a contract. When buyers and sellers have objections, remember that they’re mostly fears. Don’t try to offer only logic in response. People act on their emotions all the time. If you want to build genuine, trusting relationships, learn to understand what other people are really saying and what they really need.
7. You need to attract leads too. Hold high-level open houses where you invite neighbors and offer prizes and snacks. Run hyperlocal Facebook ads and use lots of signs. Get with a vendor or lender and hold online or in-person buyer or seller webinars/seminars–promote them in your farm and online. Send Just listed/sold postcards, send personal newsletters and market updates.
8. Get with media. People love video, so don’t be shy. Go Live at open houses, offer market up dates, tips for buyers and sellers, and anything that shows your personality and passion in little 2-3 minutes videos. Upload these to YouTube, embed them on your website, show them on your Facebook business page, and now and then on your personal page.
9. Get on Send Out Cards. Any agent who wants to build a referral-based business must embrace this ridiculously affordable technology. Set your database up with birthday campaigns and customized cards, send brownies to prospects, and use it to market expireds and FSBO’s. Use it for closing gifts, holiday cards, open house leads and more. (here’s my link if you want to check it out).
10. Make sure you’re referable. This actually should be the first consideration, because ultimately, none of the other things will take hold and produce results without it. Being referable means you are the kind of person people feel good about referring. Besides being an expert in your market, understanding contracts and negotiations, being referable concerns your overall attitude. What kind of energy do you put out in the world? Are you kind and compassionate? Do you live a life full of gratitude and grace, or are you resentful and judgmental. At the end of the day, people pick up on your energy and they are either attracted to it or repelled by it. In essence, you must BE the kind of person you want to attract.
If you follow these ten steps, you will undoubtedly build the kind of referral-based real estate business you love waking up to. Why not get some assistance by joining my extremely affordable 5-Week Referral Revolution Program? Just go to www.ReferralRevolution.org and sign up for our January 4th 2017 start!