In our Agent First Summit this week, our guest was Juan Sastoque! Juan is a real estate agent from Texas who started out as a professional soccer player and coach until he decided to jump into real estate with his wife for a more flexible lifestyle.
Our Agent First Summits happen every Tuesday morning! It’s a perk for all our real estate team members and any of their guests who want to grow their real estate business. To get an invitation, RSVP here: Save Your Seat!
In this session, Juan is going to share with us how to build and use the ultimate referral business for real estate!
How To Start Working By Referrals
It’s not hard to start working by referrals. The first thing to do is make a list—go to your phone and count how many contacts you have. To start with them, give these contacts a call and ask them a very simple question:
- If you or someone you know has the need for real estate help, do you have a go-to person?
- If they answer yes, ask how they know that person and why they’re the go-to so that you can learn more about what your network looks for in an agent.
- If they answer no, see if you can become that person by providing them value. Find out what you can about their life—their family, occupation, recreational hobbies, and dreams moving forward. That will help you keep in touch in the future.
When you’re talking to these people, you need to let them know how you can help them beyond just selling or buying a home:
- Finding service help.
- Fighting taxes.
- Etc.
By letting them know other ways you can serve them, you can build a strong foundation so that they know why and when they should come to you for help in the future.
Keeping Up with Referrals Clients
On a regular basis, provide your referral contacts with a CMA that lets them know how much their home is worth. Offer them referrals for other services (plumbers, roofers, etc.) so that they feel the value you can provide. Keep them in your network and host client appreciation parties (formal or informal) where you invite them to hang out with you and get to know you better.
Remember that the number one metric that proves when someone is going to sell within 18 months is home repairs. If people come to you looking for home repair recommendations, consider asking if they’re looking to sell or buy.
If they say yes, don’t be afraid to take a listing early, even if they’re still a year or more from starting the process. You can sign contracts months early if you like so that you know where your income is coming from even six months before you need it.
Appreciating Your Referrers
When working with referrers, don’t forget to show them appreciation. When they refer you, send them a gift card and give them a personal call to thank them for their referral. Make sure they know that you appreciate their care for you.
While you’re working with the referee, call the referrer when big steps happen or the client you’re working with gets the home they want. You can even send an additional gift card for a steak dinner or something to the referrer when you close a deal.
By maintaining this appreciation, you’re proving that referrals are important to you and that you can deliver on the services you promise. Plus, people will be more likely to refer you if they know you’ll offer them something in return.
Keep in mind that you also need to teach people how to refer you. They need to know that to text you the phone number of the person to whom they refer you so you can initiate contact. If clients know how to refer and want to refer, you’ll be getting tons of referral leads in no time!
Conclusion
If you want to build a strong referral business, these are the things to keep in mind:
- Provide clients with value throughout the year.
- Show your referrers how much you appreciate them.
- Keep in touch and maintain strong relationships.
If you can do those few things, you’ll be well on your way to success with a referral-based business in real estate!
Want to be the first to know about upcoming Agent First Summits so you can participate with us in real-time and interact with our experts directly? Save your seat now!