{"id":12518,"date":"2018-12-12T15:17:08","date_gmt":"2018-12-12T22:17:08","guid":{"rendered":"https:\/\/www.virtuance.com\/?p=12518"},"modified":"2019-01-04T15:54:58","modified_gmt":"2019-01-04T22:54:58","slug":"real-estate-referral-magnet","status":"publish","type":"post","link":"https:\/\/staging.virtuance.com\/member\/blog\/real-estate-referral-magnet\/","title":{"rendered":"Real Estate Roundup: Becoming a Referral Magnet in 5 Steps"},"content":{"rendered":"\n
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It\u2019s no surprise that referrals are an important element for growing a successful real estate brand. <\/span><\/h2>\n

In a 2018 <\/span>real estate survey<\/span><\/a>, 61-percent of real estate professionals said <\/span>that increasing referrals was the number one marketing technique<\/b> they wanted to know more about. <\/span><\/span><\/p>\n

Lead generation was the second most requested marketing technique at 42-percent. <\/span><\/p>\n

With this new information in mind, we asked professional real estate agents how they generate valuable referrals. We also pulled together a few tips and tricks from the top real estate blogs to help you design a referral strategy and increase leads. <\/span><\/p>\n

Be a community resource – Ryan Borger, REALTOR<\/strong><\/span><\/h3>\n

Top real estate professionals understand that building a rapport with their clients generates mutually beneficial success for years to come. <\/span><\/p>\n

For me, my goal is to be there for clients from well before the start of the transaction, continuing until well after the transaction is completed. Many agents view their job as completed as soon as their client has closed on their home. I don’t check out after closing day, and I try to be fully present and available to help in any way I can, even after the closing. \u00a0Whether they need a name of a good locksmith, cleaning company, or have questions on closing paperwork that comes in the mail weeks after closing, I let them know to reach out to me as I am fully available even though the transaction is done. I want to be a resource any way I can. <\/span><\/i><\/p>\n

– Ryan Borger, Podium Properties <\/a><\/span><\/span><\/p>\n

A real estate agent that goes above and beyond for their client will see long-term business success. Ryan told Virtuance that when clients receive exceptional service that exceeds their expectations, they will not hesitate in referring others to you. <\/span><\/p>\n

Leverage your circle of influence – FitSmallBusiness<\/a><\/strong><\/span><\/h3>\n

The real estate business is a people business. As a real estate agent, you must establish a strong and robust Circle of Influence (COI), <\/span>also known as your <\/span><\/i>Sphere of Influence<\/span><\/i><\/a>. Your circle of influence will be your go-to for generating new referrals while nurturing current relationships. <\/span><\/span><\/p>\n

According to FitSmallBusiness, your circle should include the following individuals and groups: <\/b><\/span><\/p>\n

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  1. Family, Friends, Social Groups<\/span><\/li>\n
  2. Neighbors, Community Members, and Children\u2019s Groups<\/li>\n
  3. Online Communities and Forums<\/li>\n<\/ol>\n

    Once you identify your circle of influence, you need to create a plan of action. Reach out to those in your circle and make sure they know you\u2019re an agent. You can do this in a number of ways including an email, a phone call or through social media. <\/span><\/p>\n

    I get referrals from my COI and past clients by providing the best service so that at closing I can confidently ask for referrals. I also <\/span><\/i>communicate with my network on a regular basis as part of my action plan in achieving my production goals.<\/span><\/i><\/p>\n

    – Rachel Adriano, Century 21 Americana<\/a><\/span><\/p>\n

    After you initially reach out, the referrals should start pouring in, right? Not so fast. You will need to keep in touch to stay top-of-mind with this circle. Top real estate agents proactively target their circle of influence with routine check-ins and automated email campaigns. <\/span><\/p>\n

    Your email campaigns can include local news and community information as well as new or \u2018just sold listings\u2019 and real estate photography. Participating in Facebook and LinkedIn groups is another easy and cost-effective way to engage with your circle of influence. <\/span><\/p>\n

    In my neighborhood, it was a real estate agent who started our community Facebook group. It\u2019s now a thriving and active community with information from snow plowing to local events, and, consequently, one of her primary real estate referral sources. <\/span><\/i><\/p>\n

    – J Gurner, <\/span>FitSmallBusiness<\/span><\/a><\/span><\/p>\n

    When you develop the habit of systemizing how you ask for\/gain referrals, you will begin to see that over time, your closed deal to referral ratio increases as you advance in your career.<\/span> <\/span><\/p>\n

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    Create an organized referral plan – <\/span>Real Estate Express<\/span><\/a><\/span><\/h2>\n

    Your referral plan will include setting goals, creating a ranking system, maintaining quality leads, and rewarding referral sources <\/span><\/i><\/span><\/p>\n

    As we discussed earlier, maintaining a systematic plan for growing your referral pool is necessary for achieving higher close rates. The first step to creating a referral plan is setting up personal referral goals. This will ensure that your referrals remain priority number one on your path to becoming a successful real estate agent. <\/span><\/p>\n

    Your goal should help you decide how many referrals you wish to obtain in a given amount of time. <\/span><\/p>\n

    As you gain experience, you will be able to set more realistic goals for future periods, so be sure to monitor and document your referral numbers\u2014and the results of each referral. <\/span><\/i><\/p>\n

    – Real Estate Express<\/span><\/p>\n

    In order to keep your referral plan organized, establish a ranking system from the beginning. You will begin to build a more robust referral list as you achieve your set referral goals. <\/span><\/p>\n

    It is important to organize your referral list by prioritizing the contacts that generate valuable leads. By ranking your referrals, you can efficiently foster the most important relationships first. <\/span><\/p>\n

    Real Estate Express suggests ranking referral sources as shown below:<\/b><\/span><\/p>\n