To build a steady flow of referrals, you need to make yourself "referable." Here are some tips to growing a successful referral network:
Provide exceptional service. Upon completion of a transaction, send a customer satisfaction survey to your clients. This shows your appreciation for their business and also illustrates your concern about the level of service they received.
Build your network of referral partners. In any transaction, capture all possible contacts for potential lead generation. That means not only capturing your client but every party involved in the realty transaction, such as title and escrow specialists, inspectors, appraisers and contractors.
Leverage your network of referral partners. Maintain a long-lasting relationship by using the K.I.T. principle: Keep In Touch. Keep a list of birthdays and anniversaries. Sending something as simple as a birthday card will keep your name - and your gratitude for their business - fresh in the minds of your referral partners.
Practice the law of reciprocity. If you want referrals, you must be committed to giving referrals. Regularly ask for business. Reach out to your referral network with letters, emails and greeting cards. Use these vehicles to ask for new business as well as referrals. Many times, the primary reason you receive a referral is simply because your name and phone number are easily accessible.
Build immediate credibility when calling potential clients. Turn a cold call into a warm call by referencing your referral source, which can improve your chances of converting a lead into a transaction. Be sure to speak highly of your referral source to serve as a reminder of what a great professional they are already working with.
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