How Realtors® can Grow their Referral Networks

As a real estate agent, you know that the referrals that you receive remain a key barometer for success. In other words, we know that the number of referrals that you send and receive can turn a good year into a great one. It is unfortunate that some real estate agents do not recognize the importance of establishing referral networks, let alone the importance of growing their referrals. In this article, I feature different approaches to help realtors in identifying and growing their real estate agents referral network. Keep reading to find out the best approaches.

1. Join a referral network

Top Realtors® have come together to establish a strong real estate agents network, focused on sharing referrals. If you are struggling to grow your sales numbers, joining a network of the best and brightest Real Estate Agents is a step in the right direction. PrimoAgents in Canada and the U.S. is helping real estate agents to grow their revenue. Consider that the referral network is a primary tool that is meant to assist the real estate agents to share referrals with others within the network.

The objectives of a successful real estate referrals network are to help top quality real estate agents keep growing their sales numbers. Ideally, a referral networks create a nationwide representation connecting real estate agents to those who need to purchase a property.

2. Stay in contact with previous customers and clients

The previous customer should be treated as your primary source of new referrals. There are several approaches in which you can stay in touch with the previous customers. For instance, you can connect via social media, exchange telephone contacts, inviting the previous customers to sponsored events, invest in a good Customer Relationship Management System, and various other approaches. The importance of connecting with previous customers is that they can easily bring to you new customers. In other words, this allows you an express connection to their existing potential networks. Families, friends and colleagues to your previous customers remain a good resource to tap customers from

3. Maximize your professional business or service contacts

The professional and business service contacts provide an indispensable resource for those in real estate business. These are significantly important for your business, and a good way to attract customers. Consider your contacts when sharing new listings. Some of them will either buy from you or even recommend their friends or relatives to purchase from you. Ask them to share your listings with their networks to maximize potential of reaching new customers.

4. Get more involved with associations, groups or organizations

If you are a member of a group, or an association, consider the other members as a source of referrals for your real estate business. People like to do business with people they have met or interacted with in previous occasions. Do not be surprised when you start receiving business opportunities from people who you are in same groups with. Garnering referral business from associations or groups is a tried and tested approach to building professional business networks.

5. Attend real estate networking events

Read online advertisements and subscribe for notifications on upcoming networking events. The networking events allow customers to build their referral network. The recognizable and know real estate agents will get new leads from the attendees. At the event, ensure you talk to other attendees, and focus on ways you can grow each other.

6. Distribute branded materials to ensure you are recognizable

This includes business cards, T-shirts, Calendars and other branded materials that helps to ensure your business name gains popularity. Although considered a traditional approach to market your business, this is an effective approach when it comes to marketing real estate business.

7. Incentive and rewards for every new referral

Remember to create a contest or incentive around the referrals you earn especially from existing customers. The incentive can be a shopping voucher, discounts on next purchase, or even a cash reward. This encourages the existing customers to keep sharing your name with the potential buyers they come across.

Are you interested in growing your real estate referral networks? Try the approaches we have discussed above. They are really great when it comes to increasing your sales numbers.