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/
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.