4 Strategies to Boost Referrals

By
Industry Observer with CRS

Everybody loves a referral, right? Some of us owe much of our business to the power of referrals – both from past clients and from other agents. Giving and getting referrals increases the longevity of your business and offers a great long-term payout. But how do you build a solid network of quality referrals and how do you hedge your bets and ensure that you’re passing your own clients on to quality agents who know what they’re doing—especially when you know that referral fee is on the line? Well, here are four ways to build that network and make sure it’s filled with quality people.

1. Follow up, follow up, follow up

If you aren’t already implementing a strong follow-up communications plan with past clients, then this is the place to start. Happy clients often want to refer you to friends, family and neighbors, but you have to keep your name in their minds long after the deal closed. Try setting up reminders to follow up, either using a calendar or a CRM tool. Ask how it’s going shortly after the transaction, as well as on the anniversary of the sale. Try sharing local market information as well, as homeowners are often interested in what’s going on in their neighborhood. Holidays also provide a great excuse to connect with an e-mail or card.

2. Join a National Referral Network

Do you have a solid pool of real estate connections that you can access when helping a client moving to another area? Sometimes it’s hard to know if you’re referring someone to a high-quality agent who will follow through on a referral fee, and if the referrals you’re getting from other agents are real leads. I’m a member of the Council of Residential Specialists, a professional development, education and networking organization, and this referral network is a great place to make connections. It’s one of my go-to referral networks. I know the agents that belong to CRS realize the mark of professionalism that the CRS education and training gets them and that's really why I seek them out. They've been through the trenches with me. CRS also offers free access to other programs that offer qualified leads. So make sure whatever referral network or organization you join is really worth your while.

3. Host a Community Event

One of the more unique ways agents are out building their network is by hosting a public event that offers real value to the community. Some brokerages have turned their main street offices into art galleries, displaying local artists at gallery nights once or twice a month. I offer to host a housewarming party for my new clients. It takes the hosting pressure off them, gives me a place where I can shine, they get to meet new neighbors, and I get to network with their friends. These kind of events foster a sense of community and offer a lot of face time with potential clients.

4. Attend Education Classes Out of Town

I love to continue my education and grow as an agent (plus, you gotta fulfill those CE credits). So why not attend a class out of town, or even out of state, so you can meet other agents while learning valuable business skills? Pay attention to where people are moving from in your community and if there’s one place that stands out, take your classes there and network with the other agents attending the class. This will make you stand out from your peers by putting a face with a name when they need to refer. CRS hosts classes across the country, and they are generally known as the best classes with the best instructors in the country. So, be sure to look for a CRS class in your local area or in a new area so that you can increase your referral base with other quality agents!

Debbie Reynolds, a broker with Berkshire Hathaway Home Services PenFed Realty in Clarksville, Tennessee. She has been a CRS since 1999 has 36 years of experience listing and selling real estate (and loving it).

 


 

Comments (33)

Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much for sharing this article. Have an outstanding week.

Aug 06, 2016 09:44 PM
Robert Vegas Bob Swetz
Las Vegas, NV

Hello and welcome to the ActiveRain network and Debbie is one of my favorites around the Rain ...

Aug 07, 2016 03:55 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

I'm glad to see CRS represented here on ActiveRain! Welcome!

Aug 07, 2016 11:01 PM
Paula McDaniel
The Paula McDaniel Group with Real Estate Partners Chattanooga LLC - Chattanooga, TN
Voted Best of the Best Chattanooga Realtor 9 Years

Love, Love, Love CRS!

 

Aug 08, 2016 03:56 AM
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Thank you for introducing me to CRS, I am definitely interested in national and international referrals.  Your follow up ideas are also great!

Aug 08, 2016 04:25 AM
Mery Fernandez Empire Network Realty Luxury Brokerage
Empire Network Realty INC. - Orlando, FL
The Rise of An Empire, Let's Build Yours!

Welcome to the world of Activerain, may your blogging  create a whole new chapter in your Real Estate Career.

Aug 08, 2016 06:37 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

CRS - Welcome, glad to see you here (and of course I love being a proud member of CRS!)

Great post by friend and fellow CRS, Debbie Reynolds 

Jeff

Aug 08, 2016 10:49 AM
Shanna Day Team Leader AZ & UT - Call 480-415-7616
Keller Williams Realty EV (AZ) & Keller Williams SLC (UT) - Mesa, AZ
Top 0.33 percent of 39,000 Realtors in our MLS

I'm reminded once again to make these points my priority - THANK YOU Debbie Reynolds !

Aug 08, 2016 11:12 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

I really pays off with quality referrals. Thanks Shanna Day Team Leader (AZ & UT) 

Aug 08, 2016 11:27 AM
Susan Rupert
Kissinger Bigatel & Brower REALTORS - State College, PA
ABR, CRS, e-PRO, MCNE, SRES, REALTOR

I have several designations. By far CRS is the best. Every so often I take a refresher CRS class just because our real estate world is changing. When I am looking to refer a client I always refer to my CRS directory. Thanks again for the tips. Welcome to Active rain.

Aug 08, 2016 01:59 PM
Anne Corbin
Long and Foster - Lake Anna - Spotsylvania, VA
Serving Lake Anna & Central Virginia

Can anyone recommend good CRM tools they use?

Aug 09, 2016 12:23 AM
John Wiley
Fort Myers, FL
Lee County, FL, ECO Broker, GRI, SRES,GREEN,PSA

Thanks for the great tips to gain referrals. This is important information.

Aug 09, 2016 01:08 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Keeping in touch and building your network will bring referrals!  Always remember to ask for them as well at the close of the sale.

Aug 09, 2016 07:10 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

It is critical to stay in touch with past clients.  I do that considtently and always try to work that referral conversation into emails, carsd, phone calls.   Welcome to AR!

Aug 11, 2016 10:59 AM
Lesley Wilson-VanGoethem
Innovative Realty Solutions Group - Winter Springs, FL
Residential Real Estate Broker Associate

Love giving referrals! Joining national networks is vitally important....

Have found the referral network on AR to be top notch!
Thanks fellow rainers !

Aug 11, 2016 10:03 PM
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Great post CRS with some great ideas. Great debut on AR. Appreciate as well the discount coupon offered on your post. I see more CRS marketing these days, good job.

Aug 19, 2016 11:39 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

CRS Communications - anything we can do to improve our referral base!

After all, almost all of my business comes from referrals.

Aug 20, 2016 02:59 PM
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Dear CRS Communications , your coupon code is invalid. 

Maybe you'd like to look into this. Don't mean to be critical, but it just seems to me from a marketing perspective that someone needs to pay attention to this sort of thing, it's a reflection on professionalism.

Aug 21, 2016 12:50 AM
CRS Communications

Hi Richard,


We are so sorry you experienced a glitch with the coupon code this weekend! I've checked and reset the code, so you should be able to use it without a problem. Again, so sorry for the inconvenience!

Aug 22, 2016 12:32 AM
Richard Bazinet /MBA, CRS, ABR

Thank you

Aug 22, 2016 12:59 PM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

@CRS CRS Communications could not resist to re-blog this post about the referrals. 

Sep 13, 2016 01:16 PM
Kathryn J.
Rentec Direct - Grants Pass, OR
Rentec Direct

Referral is key and network marketing sure seems to work well in the RE Biz!

Sep 15, 2016 06:17 AM

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

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