Tip on asking for referrals

Finding new business is one of the most important and challenging parts of being a successful real estate agent. Despite of plenty of advertising and marketing tools available now days, a significant proportion of sales leads still come from referrals. In fact, researchers say that prospective clients are up to three times more likely to buy from an agent if they have been referred to them.

While referrals are technically the efforts of another person recommending your services, they are entirely dependent on how you carry yourself within the industry. Make it a priority to provide great customer service as it is the foundation of any referral initiative.

Have you ever felt uncomfortable asking a past client for a referral? You’re not alone. A lot of your colleagues feel the same way. Here are some tips for making the process of asking for referrals easier and more effective.

Provide excellent service and stay in touch

The best way to get referrals is from satisfied past customers spreading the word. To build your network of loyal clients, always provide top notch customer service to every single landlord, buyer or tenant.

In order to develop a successful referral-based business, it is important to keep in touch with your clients and continue to offer them on-going value. This could be accomplished by sending out an e-newsletter (with, for example, a new attractive offer or best wishes for the holidays) or by adding them to your professional network on Linkedin.

Focus on being a “Referral Worthy Realtor.” Do a great job. Stay in touch. Be there when your clients – both past and present – need you.

Ask for an introduction

Instead of requesting contact information, consider asking your referral source for an introduction to their friends or colleagues via email, over the phone or in person. This creates a setting in which conversations will flow much easier due to the fact that you and the potential client both have a relationship with the source.

Evaluate the right time to ask

Asking for referrals should be strategic, not over the phone on an afternoon where you feel like you have exhausted all of your other lead sources. Ideally, the right time to ask for referrals is at the end of a deal.

Before asking a client for a referral, make sure they are truly satisfied with your service. Ask them for their candid feedback. Also, be sure to thank a client by sending a card or small gift for each referral they make.