How to Consistently Generate Referrals

My advice on how to generate consistent referrals from your database

Referrals are one of the best ways for you to generate consistent business as an agent.

 

How to generate referrals and what segments to work in?

 

Some agents say they get referrals by doing a good job. Don’t you do a good job for all your clients? If doing a good job was all it took, almost all your clients would generate referrals for you. What is your strategy? How much money are you leaving on the table by not having a system?

 

Let’s review a solid plan to generate referrals.

One of the most important questions you need to ask yourself is, “How am I communicating with key groups?” The main groups you need to communicate with to generate referrals are other agents, businesses, and consumers.

 

 

How are you segmenting data and offering to these groups?

 

AGENTS: KW platform in Command, Check Smart Plan Library – 36 Touch for Referral Agent Partners and Agent Referrals, For KW Agents see detailed process regarding referrals including sending, receiving, broadcasting, accepting, tracking, Commercial Agents, Mastermind Groups, Investor Clubs, Classes, Regional Linkedin Groups, Instagram (millions daily users #RealEstate) realestate_atx : Shout out to Ian Grossman with over 18,000 followers, Participate in Red Day for K, and managing your referrals and migration patterns: See video: https://youtu.be/d9eVkx5vPQE and https://answers.kw.com/hc/en-us/sections/360003127494-Referrals

 

BUSINESS: LINKEDIN, Attorneys, Financial Planners, CPA’s, Painters, Carpet Vendors and Installers, Stagers, BNI, Builders, Handy People, Teachers and School Boards, Facebook Marketplace, Title, Lenders, Promote Local Business through Videos (Vyral Marketing has plans)

 

CONSUMERS: Clients, Church, Mom’s groups, golf, tennis, sailing, Marketplace, Radio and Television, Podcast, Billboards, Children’s Hobbies, Charities, Boat Clubs, Mailers, Volunteer, Facebook Marketplace, Sponsorship Nextdoor: your neighborhood and office location

Do you have a raving fan club?

Examples of what Raving Fans get free use of:

  • Free Use of In Office Notary
  • Free Use of Office Meeting Space
  • Free Use of Ladders
  • Free Use of Pressure Washer
  • Free Use of Folding Tables
  • Free Use of Chairs
  • Free Use of BBQ Pit
  • Free Use of Lawn Mower
  • Free Use of Saws
  • Free Use of Drills
  • Free Use of Tools
  • Free Use of Wheel Barrow
  • Free Use of Bolt Cutters
  • Free Use of Tree Trimmers
  • Free Use of Hedge Clippers
  • Free Use of Shovels
  • Free Use of Tiki Torches
  • Free Use of Camping Tent
  • Free Use of Tailgating Pop Up (labeled U of M or MSU)
  • Free Use of Camping Cookware
  • Free Use of Tarps
  • Free Use of Beverage Coolers and Margarita Machine
  • Free Use of Leaf Blower
  • Free Use of Garage Sale Signs
  • Free Use of Turkey Fryer
  • Free Use of Crawfish Pot
  • Free Cashflow Analysis of Investment Properties
  • Referrals to and Pre-screening of Real Estate Professionals Anywhere in the World
  • Free Literature On Buying and Selling A Home
  • Free Relocation Information

 

A great way to communicate regularly with these groups is through social media. You can set up a regular reminder to reach out to these people to send something of value and remind them of your great service. You can also set up a thank-you video through text or email to add a personal touch.

Thank you for Referral: https://www.youtube.com/watch?v=1aVQwHQ_KqA

“The key is that you want to highlight the value you added to their experience.”

One of the trickiest things to handle with referrals is how you reinforce good behavior. A lot of agents might send a thank-you gift like a nice bottle of wine; this can feel like a trade or a bribe to some people. On the other hand, you don’t want to do nothing when you get a referral since it can leave people feeling unappreciated.

By giving current clients the option to trade referrals for a gift or a donation to a local charity, it’s a win-win-win. The business gets referrals, the charity gets donations and the client gets to feel good and appreciated.

What Is Your Script and Collateral Material to Support the Process?

Create a thank-you letter using a script that highlights the quality of service and a worthy cause. For the worthy cause, maybe you mention that X amount of dollars from your commission is donated to a charity. Perhaps you can even let your clients choose from some popular options to make them feel like they’re a part of the process. When you give, you gain. The key is that you want to highlight the value you added to their experience AND give to the community. This shows who to trust, in actions, not words.

See how Reynolds Team ingratiates referrals with the Raving Fan Club to support worthy cause in this video https://fb.watch/7oPC0f8Cuo/  Way to go Sarah and Debbie Reynolds 703-297-3251

For those who chose gifts what are the Milestone Reward Incentives?

5 Referrals: We will buy you a pair of Bose Noise Cancelling Headphones.

10 Referrals: We will buy you a full day Spa treatment.

25 Referrals: We will foot the bill for a meal at ANY local restaurant for you and 7 of your closest friends.

50 Referrals: Round trip flights for two + 5 star hotel accommodations for 3 nights to anywhere in the world.

 

Giving with or without referrals makes sense and is the highest apex of Gary Keller model.

Have a system for asking for referrals with agents and admin like the Promise and asking for 5 Star Reviews?   Please share!

If you have other questions Real Estate Super Heros about scalable business practices or anything else, reach out to me and the team. Curious about bigger ideas to help take your life and business to the next level. We are always here to help.

If you have other questions about scalable business practices or anything else, do not hesitate to reach out to me and my team. We are always here to help.

Finding the Value Proposition of a Real Estate Team

What’s the value proposition for a team?

The best real estate teams can communicate why people should work with them. The value proposition lays out the services that will get the results agents value. At 0:25 in the video, you can see some of the services teams share. Take a look at the offerings that demonstrate how you can choose the best support for you to sell real estate. This list can be the model you need to demonstrate team proficiency compared to your market and other competitors. 

Remember to determine what you will net. Return on investment isn’t always determined by money; it’s sometimes based on wellness, ease, and elegance. Consider the following: 

  • Lead generation systems and distribution
  • Future leadership positions
  • Ongoing coaching and training with digital libraries
  • Administrative support (including CRMs and social campaigns)
  • Plug-and-play systems, tools, and financial plans (including tech support)
  • Community within a growth-minded community 
  • Accountability through huddles, meetings, competitions, and tracking
  • Do they have charitable giving?
  • How does the team stack up in your marketplace? What are the results, reputations, and branding?
  • What does the culture look like? Are they celebrating you bringing in a seller client or chastising you because your client needed photos quickly and the team process is slower?
  • Compare their sales price ratio to the market sales price ratio
  • Compare their number of properties sold per agent to the number of properties sold in the market per agent in total market share 
  • Compare closing percent to market closing percent 
  • How long would it take you to get all of this value? 
  • Is it an ecosystem? Are they the only ones who have this? Do they have proprietary systems?
  • Do you have immediate credibility with your clients?
  • Does the team have guarantees (e.g., Love It or Leave It, or ‘You list with me and I buy your new home until we sell your existing home’)?
  • Do they have the ‘easy button’ for consumers so they can, for instance, bundle title, insurance, inspection, home warranty, and maintenance and repair with trusted vendors to save money and time with one-stop shopping?
  • What are the reviews like? Are clients delighted enough with the service so that you can also earn five-star reviews and referrals?
  • Can you interview exited and current members?
  • Are you able to focus on what you love and let go of the rest?

Find what you need and have fun. I also recommend reading “The Millionaire Real Estate Agent” by Gary Keller. Determine if a team is your path at this time—your bank account will thank you. 

Shout out to the Hoffman Murphy Team, the Quinton Group and the Daily Group for being great and effective examples of value proposition.

Dailey Value Proposition (3)

Team Value proposition (2) (1)

Real estate heroes: Thanks for investing your time here and stay tuned for future videos. If you have any questions about this topic, don’t hesitate to reach out to me. I’d love to hear from you.

What Is a Buyer Proposition?

Here’s what you should consider when creating your buyer proposition.

What is a value proposition for a buyer? The best real estate agents should be able to communicate why people should hire them to help them buy a property. A buyer proposition lays out the services that will get the results buyers value.

 

Take a look at the measurements of success that will demonstrate that you can find the best property for the best price in the least amount of time with the least amount of hassle. This chart shows your proficiency compared to your market. If you can demonstrate your market knowledge and results with supporting data, that you care and are trusted by other buyers, and that you’re superior or equal to other agents, then your chances of winning that buyer as a  client often increase, and they’ll pay your fee.

  • Pre title
  • Clue report
  • Uncovering hidden stash
  • Door Knocking/Mailing neighbors or absentee owners
  • Calling prospective sellers
  • Attorney networking
  • Social media marketing
  • Local subdivision information (videos)
  • School tours
  • Critical dates
  • Negotiating by winning offers
  • Concierge follow up

How do you stack up in your marketplace? Compare your sales price ratio to the market’s sales price ratio; compare your number of properties sold to the number sold in the market per agent; maybe show how many winning offers you’ve secured within the last 10 offers written. Is your value unique in your real estate market? Can buyers only get this with you? Are you getting pre-title on covering title issues before making an offer? Are you providing a clue report? Give buyers access to the hidden stash of properties by door knocking, sending mail to neighbors or absentee homeowners, calling prospective sellers not yet on the market, and networking with divorce, probate, and trust attorneys.

 

“The best real estate agents should be able to communicate why people should hire them.”

 

Engage in Facebook marketing to let others know what your buyer’s needs are and provide your buyers deeds, bylaws, and videos of local subdivisions. Set up school tours and have after-move-in neighborhood intro parties. Provide trusted vendors and crucial dates to help them stay abreast of the transaction. Guide them on how to beat multiple offers by reviewing what a winning offer looks like in the beginning.

 

Promise and provide unmatched service. Do you have guarantees like “love it or leave it?” Do you store all their data for years, including their appraisal and inspection so if they ever need anything you’re the trusted resource? Do you provide a one-stop shop service with title, insurance, inspection, home warranty, and maintenance and repair with your trusted vendors to save buyers time and money? You can even provide a lender or Keller Mortgage to help make the house more affordable and bulletproof your results and value.

  •  Love It or Leave It
  •  Buy New house until Old house Sells 
  • Pre Close Document Review and Utility Transfer, Escrow Set Up and Release

Are you delighting with your service so you earn five-star reviews and at least one referral per relationship? Are you prepared for every appointment by previewing all active properties? Have market comparable data for the area and neighborhood. Build rapport, determine motivation, and enjoy the experience.

Post Closing: 
  • Data Storage including Inspection, appraisal, (for refinance ease) neighborhood information including by laws and restrictions
  • One Stop shop – title, appraisers, lender, vendors, insurance, movers
  • Delight with Service
  • Earn 5 star reviews and referrals by Building Lifetime Relationships
  • Continually Staying in Touch

I suggest reading “The Millionaire Real Estate Agent,” chapter three, page 95, figure six: The Top Ten Service Areas of the Buyer Value Proposition. Determine your unique value proposition to buyers and your bank account will thank you.

 

If you have questions about buyer value propositions or any other real estate matter, call or email me. I would love to speak with you

How to Create a Value Proposition That Beats the Competition

Here’s how a value proposition demonstrates your worth as an agent.

A good real estate agent can explain why a potential client should hire them to sell their home. You can think of it like Apple launching a new technology; in your industry, however, you’re “launching” a home onto the market.

In order to be chosen by a seller, you need to have a value proposition. Your value proposition lays out all the services you provide that will get your seller the results they want—see figure 17 in “The Millionaire Real Estate Agent” to see what services to share.

Take a look at success measurements that show how you can sell a home quickly and for top dollar. This can help you dispel any doubts a client may have about commission, and it will therefore win you the earnings you deserve. The chart seen at 0:48 in the video is one way to demonstrate your proficiency versus that of your competitors. Some great metrics to include are your days on market, list-to-sales price ratio, the number of properties sold, and the percentage of listings closed..

 

“With all of your strengths and benefits in mind as an agent, you’ll know exactly what you can offer to your clients..”

Some great metrics to include are:

  • Your days on market compared to your Board average.
  • List-to-sales price ratio compared to your Board average.
  • Number of properties sold, compared to the average agent.
  • Percentage of listings closed compared to Board average.

What else is part of your value proposition? Do you offer something unique that no other agent can? Does choosing you as an agent mean a client won’t want or need anything else? Do you have any guarantees? Do you bundle costs like titles, insurance, warranties, and inspections? What about staging and home repairs? Other value propositions might include:

  • Guarantee Home Sale
  • Guarantee Home Buy Program (Until Your Home Sells)
  • Tiered Menu of Services with Flexible Commission structure
  • We Fix Your Home and Finance the Fix (until it’s re-paid at closing)

With all of your strengths and benefits in mind as an agent, you’ll know exactly what you can offer to your clients. Still, it’s important to be prepared before going to a client appointment. Preview active competitors, have market comparable data for the area, and use tools like BrokerMetrics to show how you stack up compared to others. If you can demonstrate your listing proficiency with data, your chances of winning increase.

I suggest that all agents make sure to read or review chapters 3 and 16 in “The Millionaire Real Estate Agent.” These will help you further shape your value proposition. If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.

655 Allen Road, Milan, MI – Ann Arbor Area Real Estate for Sale

655 Allen Road

Bedrooms: 4

Bathrooms: 1.5

Sq. Feet: 1,460

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What a find in the city of Milan! This charming 4 bedroom home sits on a deep .90 acre lot filled with beautiful, mature shade trees. You’ll feel at home from the moment you step through the front door. From the cozy screened porch to the classic floor plan with plenty of original charm intact, this home is brimming with potential. Main floor master suite with a private half bath is a true luxury. A spacious kitchen and formal dining room, with darling corner built-in. New flooring and paint has just been completed throughout much of the home – and all that’s left for you to do is move right in and enjoy! As an added bonus, there is a 2 car detached garage. Great location close to schools, shopping and restaurants. Walk able to downtown Milan! Schedule your private showing of 655 Allen Road today!

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Toth Team Worldwide Network

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

615 N Main, Chelsea, MI – Ann Arbor Area Real Estate for Sale

615 N Main

Bedrooms: 3

Bathrooms: 1.5

Sq. Feet: 1,622

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This Chelsea charmer serves up plenty of 1900’s charm and comes complete with a backyard oasis – all just a short stroll to downtown! The park-like lot backs up to Lett’s Creek and Veterans Memorial Park and it’s fully fenced with lots of mature shade trees. The retention pond behind the fence line ensures that your view will remain unspoiled! Inside, you’ll find space for all of life’s needs including 3 bedrooms, a full bath and a powder room plus a formal living room, formal dining room and a family room with cozy wood stove that steps out to an expansive deck with pergola. The spacious kitchen has plenty of storage, butcher block countertops and all appliances are included. Enjoy downtown Chelsea from the front screen porch or take a quick walk to events, shopping and dining! One bedroom on the main floor. 1.5 car garage. 13 month home warranty included.  You’ll want to call this house home!  Schedule your private showing of 615 N Main today!

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Toth Team Worldwide Network

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

6191 Schuss Crossing, Aspen Ridge Village – Ann Arbor Area Real Estate for Sale

6191 Schuss Crossing

Bedrooms: 2

Bathrooms: 2

Sq. Feet: 1,525

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Welcome Home! Move right in to this spacious 2 bedroom, 2 full bath ranch condo in Aspen Ridge Village! All the conveniences are on the main floor, including the laundry room. Step inside to slate tile in the entryway. The large kitchen features granite counter tops, stainless appliances and a large pantry. The kitchen opens to the great room/dining room combo with vaulted ceiling, fireplace and door wall to a Trex deck. The master bedroom is bright and sunny with 4 large windows, plus it has it’s own private 4 piece bath with a soaking tub and a walk-in closet. Rounding out the floor plan is an additional bedroom/study and a full bathroom. The full basement with egress window is plumbed for a bath and ready for your finishing touches. Residents of Aspen Ridge Village enjoy community walking trails, pool and playground. If you’re ready for easy first floor living.. request a private tour of 6191 Schuss Crossing today!

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

11764 Dexter-Pinckney Road, Pinckney, MI – Ann Arbor Area Real Estate for Sale

11764 Dexter-Pinckney

Bedrooms: 3

Bathrooms: 2.5

Sq. Feet: 3,127

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Step inside utopia! This home offers a compound-style concept providing both privacy and flexibility and it’s all nestled into a tranquil oasis surrounded by a 92 acre nature preserve! There are 3 buildings on the property: the main house, the guest house and an artist’s studio with two car garage. The main house is a ranch style home offering 1534 square feet of living space. It features a custom kitchen with professional grade appliances, Provenzale sable tile, custom fireplace surround, a beautiful oak library and more! The guest house adds 1584 square feet of living space. This freestanding 2 story addition was added in 2006. It features an open concept floor plan with a walkout basement, full bath, kitchenette and breathtaking screen porch with mezzanine. The studio/garage is heated and has natural gas and electric. The 3 buildings flow seamlessly together via the connecting landscape. Cascading ponds and terraces adjoin the buildings and create a cohesive feel. This home is filled with custom artisan features and antiques throughout, ask for the list! Every single piece of this home has a story worth telling. Perfect for the multi-generational family, house guests, a flexible work from home space, artist’s studio or even a vacation rental opportunity! Call today to experience this amazing property for yourself! 11764 Dexter-Pinckney Road is a one of a kind sanctuary!

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Toth Team Worldwide Network

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

909 N Prospect, Ypsilanti, MI – Ann Arbor Area Real Estate for Sale

909 N Prospect

Bedrooms: 3

Bathrooms: 2

Sq. Feet: 1,134

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Calling all first-time home buyers! You will not want to miss this affordable, updated ranch home located in Ypsilanti Township close to Prospect Park and within walking distance to Depot Town. Step inside to fresh paint and a spacious floor plan with hardwood and beautiful moulding and trim. You can’t help but feel at home! The updated kitchen boasts a decorative tile backsplash and all appliances are included. This home features 3 bedrooms, 2 full, updated bathrooms, a screen porch, a 2 car garage and a shed. There is also a large fenced yard for your furry family members or to see how your garden grows. Lots of curb appeal! Updates include: furnace (2014), windows (2014), roof (home, garage and shed 2019), water heater (2020), dishwasher (2018). Whether you’re commuting to the Big House or the big D, the location could not be better. And at this price, it will not be available for long! Call today to schedule your private tour of 909 North Prospect today!

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Toth Team Worldwide Network

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

9123 Austin Road, Saline, MI – Ann Arbor Area Real Estate for Sale

9123 Austin Road

Bedrooms: 5

Bathrooms: 3

Sq. Feet: 2,696

Related Links

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Visit our Website for a Complimentary MLS Search

This gorgeous country home is priced under appraised value! Truly a sparkling diamond to be treasured and you must come inside to believe it. Perfectly updated while showcasing original scrolling custom woodwork, large 10 inch baseboard, trim and moldings and extra wide staircase. This 5 bedroom 3 full bath home merges the new with the old. Solidly built in 1915 with hardwood flooring on first and second floor. Second floor is carpeted. Thermo windows, large bay in living room, granite counter tops in the spacious kitchen with newer appliances and Merillat Cabinetry. A reverse osmosis water filtration system, a new foundation in 1993, and an insulated Bilco door are just a few of the wonderful updates. Enclosed 27’x9′ Porch with placement windows. Outside features; wonderful perennial gardens and nicely landscaped patio, vinyl siding, new roof in 2013, covered porch, 2 car garage and 2 driveways. This home backs to an open green field with pastoral views. Do not miss this beautiful home, 9123 Austin Road should be on your short list!

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Toth Team Worldwide Network

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.