Relational Promotion: 3 Reasons to Ask for a Referral

The best time to ask for a referral is when you're actively working with a client.

The best time to ask for a referral is when you’re actively working with a client.

Promotion is vital if you want your business to thrive. While the term ‘promotion’ often prompts people to think of traditional advertising, there’s more to it than that. Promotion can also entail referred leads from your best clients. In fact, it’s through cultivating your relationships with your best clients that you’re able to enjoy a reliable stream of referred leads. Relational promotion should comprise the majority—70%—of your time and money.

Although you hope that your clients will refer you to their family and friends, it’s important to ask them to do so. The truth is that many of your clients would refer you to their networks if you just asked (preferably using the Referral Dialogue in Referral Maker™ real estate CRM)

1. More leads. Your clients, particularly the ones you’re currently working with, are the fuel that drives your business. When you offer them great service, find ways to help them before and during the transaction and after it has closed, you leave a lasting impression. When you keep the lines of communication open during the transaction and touch base after the sale has closed, you set yourself apart from the competition. After all, most people never hear from their agents again after the ink has dried. As a result, they’re more likely to refer you to friends and family who are looking to buy or sell. They want the people they care about to be treated as well as they were. Promoting your business with your monthly real estate marketing kit from Referral Maker Pro, periodic phone calls and personal notes and an occasional Pop-By will help you stay at the top of your clients’ minds, so that when their brother-in-law mentions that he’s looking to buy a home, your client can say, “Hey, you should use my agent.”

2. More sales. When you have more leads, you’re able to close more sales, even when inventory is tight. People trust you. You’re able to leverage your relationships with your clients in order to find the right home for your buyers.

3. More choice. A growing database means that you have more choice in who you work with. Gone are the days when you were a starving real estate agent, desperate for a client. When you build relationships with clients who you enjoy working with, you can ask them to refer you to great people just like them. And if you do end up with a miserable client, you can politely excuse yourself from working with them and say, “I don’t think this is going to work out for us.”

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