Challenge: Crowdsourcing the Way to More Referrals
OK you points mongers.... just kidding. Bob Stewart has another challenge for us, and the really "big deal" about this is that all of us can benefit from it. Who doesn't love and want a referral? Are you doing what you can to get them? Do you have your tried and true way of getting referrals? Share them and, yes of course... points are involved!!!
The "Aha"
(OK, it wasn't really an "aha", it was more of a 'dang, that many?')
In a webinar recently about (link to recording of the webinar) generating seller leads, I opened the discussion by asking the audience where their last listing originated. A little bit to my surprise, an overwhelming number of the responses came back 'referral'. I didn't tally up every response, there were about 400 people on the call and the answers were pouring in. But 'referral' was the overwhelming winner. At a glance, it seemed like 7 out of every 10 responses came back 'referral'.
Any good real estate agent will tell you that referrals are the backbone of their business. Many of you have something referencing that in the signature line of your email. You most likely let your clients know that at the conclusion of a transaction. Some of you might have client appreciation parties. Some of you probably call your sphere once a quarter and remind them that you're still in the business and would love any referrals they could send your way.
(You can skip the story and scroll down the challenge if you want but I'm watching you! And I'll be offended! haha)The Story
In the discussion about generating seller leads, Jerimiah Taylor, our presenter shared how he positions people to illicit their reticular activator. Huh? Say what? Sounds technical!
Basically Jeremiah shared the story of buying a new car. When you drive off the lot, you start to notice your new car everywhere. That's because your reticular activator, that part of your brain that organizes information and is responsible for you noticing things around you is on full alert for the kind of car you just purchased. So now you see them everywhere, even though they were probably always there, you just weren't thinking about them. Same thing happens when someone buys a new house. They are now more alert to the fact that others around them may be talking about buying their next house and Jerimiah wants to make sure he puts them in a position to mention him when they come across these conversations.
Many of us might expect that someone will refer us if they hear their friends and family discussing real estate, but you need to take steps to ensure this actually happens. In Jerimiah's case, he takes the opportunity three times during the transaction to remind his clients that he would love to be able to help their friends and family should the need arise.
The first time he mentions the importance of referrals in his business is immediately after a contract has been accepted and both sides have signed off on the contract. People are generally happy that they've had their offer accepted and it's a great time for Jerimiah to remind them that referrals are an important part of his business. We all know that having the contract accepted is only one step on the path to getting your clients the home they want.
The second time he mentions the importance of referrals in his business is once the last contingency has been removed from the contract. So if the last thing to get worked out is the inspection, once that is completed and the deal is moving towards closing, he will take another opportunity to have a conversation with his clients about referring their friends and family to him for help with their real estate needs.
The third and final time he has a similar discussion with the clients is immediately after the closing has taken place. In each of these scenarios the clients are most likely pretty excited about what's just happened and are very likely to be willing to listen to Jerimiah's message about referring him more business.
This is just one example of how an agent actively pursues referrals for their business. We would love if you would consider sharing more examples with us. We are going to compile your answers and on May 30th at 3pm Pacific Time we will host a webinar that shares 7 of the best ideas that you share.
The Challenge
In a blog post, share with us one tactic you use to get referrals from past clients or your sphere. Try to share it in a fashion that someone reading could put your idea into practice. That means give an example, share some details, tell a story, possibly even walk us through the script or the steps you took to land the referral.
Leave a link to your blog post in the comment section of this blog post.
Please submit your post by May 28th at 11:59pm Pacific Time.
All posts submitted will be given 1000 ActiveRain points
The 'Crowdsourced' Webinar
Register for the webinar on May 30th at 3pm Pacific Time (6pm Eastern Time) where I will share 7 of the best ideas that come out of this challenge. Heck, I might even share more if there are enough good ones (I have a feeling there will be).
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