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  • 9 Fresh Ways to Generate Leads With More Real Estate Referrals

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    by Andi Moore | 11.09.2021

    If you're a real estate agent, you know that referrals are the best way to build your business. They're the only source of new clients that gives you control over who you work with and who you don't.

    Everyone knows referrals work: even if the potential client isn't a good fit for you, they're still more likely to trust someone they know than someone from out of town. But not everyone is aware of how powerful they can be. If you want to make the most of your referral relationships, here are 9 ways to generate more real estate referrals:

  • Table of Contents

    1

    Host A Party

    Sphere of Influence

    2

    Partner Up

    Co-Marketing

    3

    Keep Clients Engaged

    Top of Mind

    4

    Offer A Reward Program

    Incentives

    5

    Use Linkedin

    Social Media

    6

    Answer Questions On Next Door

    Community

    7

    Run A Contest

    Networking

    8

    Provide A Template

    Email Marketing

    9

    Volunteer With Charities

    Local Impact

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  • Host A Party

    Sphere of Influence

    The most effective way to build your "know, like and trust" factor with new leads quickly is to host real estate events. Always plan events that are fun for your clients and bring friends. What could be better than spending time with your clients doing something you all enjoy? The best way to grow your business is by hosting networking events that fit into your clients’ lives and bring friends. Plus, by planning fun networking events, you’ll naturally position yourself as a real estate expert. What better way to highlight your mutual connections with new leads?

    Hosting a party is one of the best ways to network. The key to hosting a successful party is planning an event your guests want to attend, making sure your guests know about it, and then making sure they bring friends. By doing this, not only will you naturally position yourself as a real estate expert and highlight your mutual connections with new leads, but you'll also increase the likelihood that you'll be able to see your guests in advance so you can introduce them to other prospects in advance of the party.

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  • Partner Up

    Co-Marketing

    Co-Marketing is a great way for real estate agents to get more business and refer more clients. We'll explain how it works and then show you some examples. Co-Marketing allows two people to jointly promote a product or service and receive the same benefit from the sale of that product or service. It's not an affiliate program and it's not lead generation. It is simply a joint sales effort. 

    Here's how it works: Person A decides they want to sell more of their products or services, and Person B agrees to help them do that by marketing A's product or service for them. The deal is that if person A sells something, then Person B will get some kind of compensation (maybe a percentage of the sale). 

    According to our definition, co-marketing is only successful if both parties benefit equally from the marketing efforts. If Person B sells nothing, then why would they agree to give Person A a cut of their sales? They don't and the deal falls apart. Then there is no co-marketing arrangement; it's just a referral program. The best co-marketing deals have two things in common:  1)  they are win-win deals 2)  there is a detailed agreement between the parties.

    The co-marketing is a time-tested method of getting referrals. It can be done through your website, through your blog and through social media. Your blog and website are the most powerful channels for such co-marketing activities. You can also use social media like Facebook and Twitter to spread the word about your business.

  • Keep Clients Engaged

    Top of Mind

    Referral marketing offers huge benefits for Real Estate agents. Real Estate agents can build long-term relationships with referral partners, keep their clients engaged, and earn income by referring clients to other Real Estate agents. Some Real Estate agents are already making referrals to their clients' friends and family through email blasts, snail mail, text messaging, and social media. 

    The problem with these tactics is that Real Estate agents often send too many emails or don't provide enough value in their messages, which diminishes the impact of their referral marketing efforts. Real Estate is a service business. 

    Real Estate agents should be striving to provide incredible customer service to their clients and referrers alike. In order to provide exceptional service, Real Estate agents must keep in touch with their clients and referrers on a regular basis. 

    Email marketing and social media posts are the most effective ways to do this. In order for Real Estate referrals to have an impact on your business, you must be staying in touch with your clients and referrers so they will remember you when a friend or family member is looking for a home or a real estate agent! 

  • Offer A Reward Program

    Incentives

    What if you could offer your real estate clients an incentive to refer new clients? How would you do this? If you can arrange it, the easiest way is to offer a referral bonus. This means that the client who gives your name gets a reward and so do you. You could give a reward to the person who is referred and then give one to yourself, or you could give one to both people. 

    Referral programs vary widely in their effectiveness. Some may be more effective than others, depending on your business and the type of customer you are targeting. However, there is one thing that all referral programs must have: a reward for the people who make the referrals. This reward can be anything from a gift card to a local restaurant, to a fun t-shirt. 

    The only thing that matters is that you are giving your customers an incentive to refer their friends and family to you. Rewarding your customers for referring business will allow you to show your appreciation while increasing new leads at the same time.

  • Use Linkedin

    Social Media

    As an agent, you must focus your efforts on referring your clients to other real estate services in your area. It is difficult to make significant progress without an established business presence in the community. One way to increase local brand recognition is by posting on social media and encouraging your friends and clients to post about your real estate services on social networks. 

    Posting can be done on any popular platform, like Linkedin. The most effective social media strategy for realtors is investing time into developing relationships with potential clients. Sharing posts with them on Linkedin is a good way to start communicating with them, but also gain their trust. 

    There are many ways to gain more clients, but one of the easiest is to create a referral network. You can do this with friends and family members or people you know in the community. Good relationships and friendships with families and neighbors will help you gain more clients and referrals. One way to create a referral network is through social media like Linkedin. The first step is to create a page for your real estate services on LinkedIn. Then, connect with as many people as possible that you either know now or may know in the future. This includes friends, family, neighbors, previous co-workers and even schoolmates. 

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  • Answer Questions On Nextdoor

    Community

    Every day on Nextdoor there is a new question from a home owner looking for a good contractor, real estate agent, baby sitter etc. and another from a contractor looking for referrals. These questions generate a lot of interest and responses, and we can't help but think that both homeowners and real estate agents would be better served if the questions were answered by people who actually had experience with these services. 

    When you present yourself as an expert, people will ask you questions. They may want to know where to find your answer, or they may want you to solve their problem.

     

  • Run A Contest

    Networking

    The contest doesn’t have to be a monetary one. You can also offer gift cards, meals, or any other reward that fits your business model. The point is that it should be fun for both you and your clients, while encouraging them to share the word about your business among their networks. The more social media or mobile apps are integrated into your business model, the easier this should be for you to do.

    You can also create contests or raffles for more than one prize, allowing for a more diverse group of winners. For example, you might give away a tablet to the person who gives you the most referrals in the month, then something smaller to everyone else who earns a referral.

  • Provide A Template

    Email Marketing

    As a real estate agent, you are selling a product. Consumers are more likely to buy a new product when learning about it from friends on social media. Think of your business as a product for purchase and expand your network beyond your sphere of influence (SOI) to the spheres of others that can generate referral clients for you, like family members, coworkers, Facebook friends, LinkedIn contacts, Twitter followers and other colleagues in the industry.

    The best way to do this is to draft an email message for your previous clients, friends and family to copy and paste to share with their network of colleagues, friends and associates who need to meet you!

  • Volunteer With Charities

    Local Impact

    In any real estate market, it is important to be a part of the community, and volunteerism is a great way to do this. By doing so you will have access to a range of people that you can connect with as well as learn more about the local area. Networking is one of the best ways to find connections for both business and personal relationships. Some volunteer opportunities may even have open houses on site or fundraisers where you can hear about properties first hand from their owners. Volunteering opens the door to a number of opportunities that otherwise may not come your way.

    There are several ways that you can be involved with your community. You can serve as a member on a committee for a non-profit organization, such as Habitat for Humanity. In addition to networking through volunteering, if there is a charity gala or event that involves fundraising or a silent auction, go! These types of events bring out the movers and shakers in your community.

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