The Power of Local Referrals

By
Mortgage and Lending with Leader One Financial 164545

The Power of Local Referrals

One of my clients walked me through their home buying experience the other day. They saw the home of their dreams sitting on the corner of a downtown area in a thriving suburb. The house had everything they had wanted - a front porch, detached garage and enough room to host guests and dinners.

They quickly called the Realtor on the listing, and soon after had a personal Realtor who toured the house with them. Because they located the house themselves, the process was fast. When it came to financing, they hadn't thought about it, nor secured the pre-approval letter. (They were too in awe of the home that financing wasn't exactly at the top of their minds.) Plus, they were young and first-time home buyers.

The couple explained the process of having the Realtor give a handful of referrals for a mortgage lender, appraiser, inspector and more. And you know what they did, they called each one of those referrals and just went with it. Especially as young, newly married, first time buyers, they didn't know what to look for and so they went with who their trusted Realtor recommended.

As a real estate professional, I would say that, "of course I know the power of local referrals," but this story just reminds me about how powerful a referral can be. I've seen that it can make or break your business. It's not just a nice gesture to do for someone, it really increases the overall market for real estate.

Appreciating Referrals in Real Estate

I think what I've learned about referrals is to treat them like gold. That's why I personally go out of my way to make sure each client referred to me receives top-notch service. I also find ways to show each agent or professional who refers me appreciation. As a local lender, I'm able to provide a better hands-on service than a lender that's on the East or West Coast.

As I thought about referral ideas and how to show appreciation or grow a referral network, here are a few that came to mind:

  • Send bagels, cookies, etc. with a thank you card for each referral
  • Buy sporting games tickets (as this is also a great tax-write off) and offer them to referring professionals
  • For referring clients, enter them in a drawing to win a great prize
  • Thank customers for online reviews through a small gift
  • Share links to websites for a "referral" page network
  • Mention those in my referral network on my Facebook or Twitter

Those are just a few ideas for how to use a referral network to make or break your business.

In Kansas City and looking for a trusted local lender? Check out my website today!

 The Power of Local Referrals

 

Posted by

Darren Copeland | Home Loans | Lee's Summit MODarren Copeland, Vice President LeaderOne Financial

4967-B NE Goodview Circle, Lees Summit, MO 64064

(816) 268-4025

KC Loan Tips & Midwest VA Loans

 

KC Loan Tips FanpageKC Loan Tips YouTube Channel  Leader One Financial's Google+  KC Loan Tips Twitter   Darren Copeland Linkedin   

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Tags:
realtor
realtors
real estate agents
home buying
loan officers
real estate
sellers
the power of local referrals

Spam prevention
Show All Comments
Ambassador
841,533
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

The contest idea is a good one that I had not thought of. Thanks for sharing this information

Sep 21, 2011 04:31 AM #1
Rainer
194,597
Stephanie Stringer
First Choice Loan Services NMLS#210764 - San Antonio, TX
Mortgage Loan Originator

Pretty good list.  One thing that I have seen is to do a coloring contest for the kiddos.  I send out my Christmas cards and within the cards I put a color sheet in there.  I get these few color sheets online. For the ones that participate they mail them to me and I do a drawing for two different ages groups.  I usually give a gift certificate to a local ice cream shop.  The kids love it and it gets my name out there. 

Sep 21, 2011 04:50 AM #2
Rainer
258,646
Darren Copeland
Leader One Financial - Lee's Summit, MO
Darren Copeland

Stephanie, I love that idea! That's fantastic.

Sep 21, 2011 05:35 PM #3
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
258,646

Darren Copeland

Darren Copeland
Get Started Today!
*
*
*
*

Additional Information