Solid referrals are one of the best tools you have for growing your real estate business. And the best way to ensure that you get quality referrals is to come right out and ask for them. However, some agents feel uncomfortable asking directly for more business, or aren’t sure how to phrase the request. They worry that clients may feel put on the spot or simply not be able to think of anyone when asked for names of friends who are looking to buy or sell a house.
The solution? Don’t ask for “someone who is looking to buy or sell a house”. Think about the clients who will be the best fit for you, and ask your client or referral partner if he or she knows anyone in one of those groups. The more specific you can be, the easier it will be for your contact to think of potential names for you.
Why people buy and sell
Marriage and starting a family are two of the most common reasons for people to make the decision to buy a home. They are also big life changes that are likely to be shared widely within a couple’s social circle. Asking a client if they know anyone who is expecting a baby, or is about to get married, is almost certain to net you at least a handful of names. Similarly, you can ask if they know anyone who just got their first dog. Many first-time pet owners quickly realize they’d like to have more room for Fido to run and play!
As with all referrals, it is important to treat these prospects with the utmost respect. Send a personalized note, preferably with a nice real estate note card or greeting card (although email is fine if that’s the only address you have). Let them know how you got their name, and offer your congratulations. You will likely be nursing these leads for a while, since they may not have started thinking about buying a house yet. The more value you can offer at this stage, the better off you’ll be – you want to plant the seed. Focus on providing a couple of relevant links to information they may need when they start the home-buying process. This is a great time to position yourself as an expert! Once they’re ready to think about buying, they’ll remember two things: that you were recommended by a friend, and that you’re a valuable source of information. For many first-time homebuyers, that’s plenty to go on when choosing a real estate professional.
Your best clients
Are there groups that you specialize in working with, or who have made very good clients for you in the past? For example: military families, first-time homebuyers, real estate investors, seniors looking to downsize? These are great groups to ask for a specific referral for (e.g., “Do you know anyone in the military who has recently moved to the area?”). Consider having your target referral groups pre-printed on the back of your real estate business card, especially if you do a lot of in-person networking. It will help people to remember what you’re looking for weeks or months down the road. And when it comes to referrals, the more you get, the more you gain.