Referrals are the best type of clients we can have, you benefit from a referred Trust from the referrer to yourself. Rebekah Radice, has written a great post here on how to increase your referral business.
Helping someone grow their business while helping you at the same time can be like Christmas in July. You have a present to give at a time when people are least expecting it.
The Law of Reciprocity works based on this theory; that what goes around comes around. So how can you put this into action within your business?
A simple way to build an abundant business for both you and those around you is to cross refer. Cross refer simply means that you are asking how you can aid in the growth of someone else’s business. By understanding what type of referrals they would like to receive, you open the door to cross referral karma.
How Does Cross Referral Karma Work?
The trick to cross referral karma is not so much in the doing as it is in the asking. To identify who your referral partner’s potential client is, you need to ask a lot of questions and then just listen. Get to know their business.
Understand what makes them tick and what it is they need from you. By learning the ins and outs of one another’s business, you open the gateway to exponential growth within your business.
Once you understand their business, your next step is to let your cross-referring partner know that you will do your best to send referrals their way! It’s that simple!
The law of reciprocity spells it out this way - When you do something for someone else, they feel a compelling urge to reciprocate. Now isn’t that a beautiful thing?!
Create Your Own Referral Club
It shouldn’t be a far stretch to assume that you are talking to multiple people at any given moment that could refer potential buyers and sellers to you. (If you’re not, that’s a subject for another time!) Every one of these people could be your next referral karma partner!
Who Are They?
- Past Client
Now go through your database; choose 3 people per day to schedule a meeting with. Prepare a simple script explaining your goal.
“Hi Dave, I’m looking to expand my business and felt that we might be a benefit to each other. I would like to ask for 30-45 minutes of your time where I can get to know your business and see if there’s a way that I can refer clients that are in need of your services.
Would you be available this week? I have time on (1st time and date option) or (2nd time and date option). Do either of those times work for you?”
The idea behind this referral strategy is creating a mutually beneficial team of referring partners. Your “club” should feel as if they’ve joined a support team that will push the limits of their business beyond the boundaries they set for themselves.
You can become a cross referral magnet! All you have to do is ASK.
You Can Be a Referral Magnet was written by Rebekah Radice.
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Rebekah Radice | Mortgage Loan Originator
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