Can we talk about referrals? Now, this particular section will focus on agent to agent referrals. So we’re not talking about getting referral business from your past clients and so forth, that’s a different conversation. This is about how you get more referrals from other agents that you meet in various settings. Most agents are already aware of how important referrals are. Word of mouth is great advertising because a person is actually recommending you. The fact is that referrals from other agents are really valuable. One of your own clients may recommend you but, how many people can they actually recommend you to? Another Realtor has a network of buyers and sellers and if they can send someone your way… That’s priceless! So, there are five steps to get more business and I’m going to tell you how to do it.
F i r s t t h i n g s f i r s t …
The first step to get more referrals is connecting with producing agents. For example, at events, conferences, and other places where we congregate… Mingle and get to know other agents. Especially ones that are interested in getting more clients themselves. Real estate referrals from other agents can be had all over the country so, when you travel, talk about real estate. Exchange business cards and ask them about the housing market in their area. Blindly getting their card knowing you’ll toss it later is a poor strategy so if you aren’t interested… Don’t act like you are. Your goal is to learn because the more you know, the better for your clients. So, get their business card and start forming a relationship with them. Follow up and be inquisitive.
Number two tip:
Another way to get agent to agent referrals is through social media connections. I hope you have all the social media pages you can… Facebook, Instagram, Twitter, LinkedIn, and YouTube are the top 5. These don’t need to be paid for business accounts. But they should showcase your business and not the more personal aspects of your life. If you get in to online groups you’ll likely deal with a lot of newbie questions. That’s okay – you were new once too! Try to avoid newbie groups unless you’re new. Established agents that know the business are better connections for you. However, you may be a good connection for a newer agent so keep that in mind. If a local agent wants to learn from you, you can strike a deal.
For instance, a newer agent with no experience may bring you a client in order to sit on the process. You would make the larger portion of commission and let them sit with you throughout the process. Working with real estate agents like this can be helpful to your too. Be careful not to go above and beyond the legal parameters here, though. If you are not a Broker you can’t act as one.
Now, you have to engage in conversations with other agents on all your social media platforms. Uplift other agents, ask them about their selling areas, get tips, and post about your own successes. I’ve noticed some agents consistently posting; they’re engaging whenever somebody else posts, they like it, they comment and so forth. And when you engage with other people online, they’ll notice you, and they’ll remember you.
If nobody remembers you, the whole thing is pointless. But when you meet someone (tip one) and they know your name and then you connect online… Keeping that up will essentially make you friends. We tend to help our friends out so the more you have, the better!
You want your real estate referrals from other agents to be fairly casual. If they have a relationship with a person and that person is moving out of the area, they’ll need advice. Obviously another agent to agent referral isn’t going to be from someone in their own area. You might be still be asking yourself how to get more referrals… Your connecting with agents and following them and engaging on social media – what next? The next step you need to take is to really become friends. This is not something to fake or take lightly though. You already have a shared interest – real estate. Now get to know them better. Learn about their life and really get a deep connection with them. We’re not talking about having hundreds of new friends here. We’re talking about a select group of agents which actually brings me to my next tip…
Agent to Agent Teamwork!
So, how do you build an agent to agent team? You’ve met other Realtors, you’ve followed them online, and you’re starting to develop real relationships. You need to put your trust in these people if you want them to put trust in you. When one of your out of area clients, friends, or family need to buy or sell, you should have recommendations. Of course it’s always the clients choice who to go but they’ll likely follow your advice. Let the agent know you recommended them! Don’t wait for the client to say you recommended them. Hopefully they do but if not, you want to make 100% sure that Realtor knows it.
And again, this isn’t just about your own gains – this is also about helping your clients. Being licensed in just one area limits what you can do for people. But if you have access to a nationwide network of Realtors you’ll be able to better assist your own clients. Lots of business relationships are built upon referrals whether it’s word of mouth from clients or other business professionals.
Obviously you want to like your agent to agent team which is why you’re getting to know them first. If you go through steps one through three and start thinking they aren’t someone you really care to work with… Don’t. But if you meet them, like them, and continue to like them you should have an easy time recommending them!
F i f t h T i p :
When another Realtor refers a client to you, it’s a big deal so treat it like one. An “Oh, hey thanks” to the referee will not suffice. Send them a care package and several heartfelt thank yous along throughout the process. The client you get – give them the star treatment. I mean, honestly, you should be doing this anyway! And also, when you refer someone to another Realtor you should be following up with them to see if they actually closed on a house. This continued contact lets everyone know how invested you are in the real estate business.
And if you feel like you’re sending out referrals and not getting anything back… Don’t discount it and cut off contact or anything. These things take time as you may very well know. If you stay in contact, stay inquisitive, and helps others; they’ll help you too!
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REAL ESTATE AGENT GUIDE
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- FIRST 30 DAYS AS A NEW REAL ESTATE AGENT
- FIRST STEPS FOR NEW REAL ESTATE AGENTS
- CONTROLLING YOUR ONLINE PRESENCE
- HOW NOT TO BRAND YOURSELF
- AVOID THE UPS AND DOWNS IN SELLING
- BREAK THROUGH WITH EXPIRED LISTINGS
- FIND CASH BUYERS – YOU NEED THEM
- HOW TO GET MORE LISTINGS – PREPARATION
- GET MORE REFERRALS
- HOW TO GET SELLERS TO PRICE IT RIGHT
- GET YOUR 1ST DEAL FAST AS A NEW AGENT
- JOIN A TEAM OR GO SOLO
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- WHY MOST NEW REALTORS FAIL
- WHY REAL ESTATE IS FOR ENTREPRENEURS
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