How To Build A Real Estate Referral Network

Any successful real estate agent will emphasize the importance of networking for growth and a thriving business. Referrals are one of the best ways to get new clients. Getting recommendations and referrals from trusted friends and families is a fantastic way to start the agent-client relationship out on a foundation of trust and reliability. Building a real estate referral network is extremely advantageous. Let’s dive into how to network as a real estate agent to build your business so that you can thrive in your field.  

Provide Exceptional Customer Service

The first step in learning how to network in real estate is through providing exceptional customer service. You need to provide something for your clients to talk about in their recommendations and referrals. Treating each client with extra care, support, and attention will help motivate them to recommend you to their friends and families. It will also give them plenty to talk about in their online reviews. So how exactly do you provide exceptional customer service? Let’s go over some key aspects of customer care to help build your real estate referral business.  

Go Above and Beyond 

Going above and beyond means taking the extra time to review the needs of your clients and doing everything in your power to satisfy them. Doing this sets you apart from others and emphasizes your focus on providing the best experience possible for your clients. Make sure you go above and beyond to provide outstanding customer service. This will encourage your clients to refer you to their friends and family. 

Be Responsive 

Make sure you respond quickly to your clients’ needs and inquiries. This will show them that you value their time and are committed to providing great service. Buying and selling homes is very stressful for clients and taking a long time to get back to clients with information can add to the stress. Being responsive shows you care about your clients’ time and that you prioritize them.  

Follow Up With Leads 

Don’t let potential leads slip through the cracks. Follow up with them regularly to build a relationship and increase the chances of receiving referrals. This helps to build a connection and establish a clear line of communication. Showing that you care about connecting with leads will help them feel like you have the time and care to provide an excellent customer experience.  

Build A Strong Online Presence 

Many people turn to the internet to find just about everything these days. Establishing a positive and active presence online will help build confidence in your abilities to provide excellent customer experiences when it comes to buying and selling homes. Use social media, a professional website, and other online tools to showcase your expertise and connect with potential clients. See how we can help!

To establish a strong online presence it is important to keep these things in mind: 

• Post quality and relevant content consistently to keep your audience engaged on social media.  
• Consider hosting a blog on your website to attract organic traffic and provide helpful information to your clients.  
• Use social media and contact forms on your personal website to collect emails to connect with leads and build your real estate network.  
• Encourage past clients to review you on Google, Yelp, Facebook, and wherever else they can build up a positive reputation that can be viewed online. 

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Ask For Referrals  

One of the best ways to build your referral network for your real estate business is by asking. It may seem simple but many real estate agents skip this part and miss out on the potential for new business. Don’t be afraid to ask your clients for referrals. Let them know that you appreciate their business and would be grateful for any referrals they can provide. 

Offer Incentives 

One great way to attract new leads and clients through referrals is by offering incentives to past clients. Setting up a referral program is a fantastic way to encourage past clients to participate as it is mutually beneficial. Here are some ideas for referral incentives: 

• Gift cards 
• Finders fee 
• Discounts for services 
• Unique gifts 

Partner With Other Real Estate Professionals 

A great way to build your referral network is through partnering with other real estate professionals. Building relationships with others in the industry can be mutually beneficial. If you refer your clients to their services and they do the same for you, the relationship can be one where you both help each other grow your businesses and thrive in real estate.  

Some other real estate professionals to consider are those whose services complement yours. These can include mortgage brokers, home inspectors, and other agents that are outside of your area.  

Build Relationships Online With Agents  

While there is a lot of competition between agents, there are also plenty of reasons to build good relationships with others in the industry. It is great to build relationships with agents outside of your area. Many successful real estate agents focus on certain niches and regions to provide the best possible service to their clients.  

 Find agents in areas where your prospects may eventually move from. For example, if you are in the suburbs, build a relationship with agents in the city. This means you can refer clients to each other if the prospects don’t necessarily meet your focus area. Find the relationships where you can help each other to build a great referral network.  

Join Professional Networking Programs 

Another great way to build your network is by joining professional programs. These may be services that you will have to pay for but the growth of new prospects will make it worth it. Participating in programs and groups are great ways to start establishing your network or branching out into new areas. Search online for online programs or those happening locally in your area.  

Host Events 

Getting yourself out there to meet people face to face is a fantastic way to build up your real estate network. Consider hosting events in your area to meet people. This way you can build a relationship face to face so that when the time comes for someone to move, they’ll think of you.  

Some events you can host include open houses, community events, and neighborhood gatherings. Open houses are a good way to show off your real estate skills and meet new leads.  

 Even if they don’t end up buying the specific house you are showing, you’ll get to meet leads and establish a connection to help them find one that better suits their needs. Neighborhood gatherings and community events are low-pressure ways to meet people in the area. You can introduce yourself and share your services so that they think of you when it comes time to buy or sell.  

Work Your SOI (Sphere Of Influence) 

Your SOI, or sphere of influence, refers to every connection in your life. Whether it be friends and family or past clients and leads, your SOI is a powerful source for referrals. This includes everyone who values your opinion. You can use nurture connections within your sphere of influence to further build a strong network for your real estate business.  

One of the best sources of referrals is past clients and leads. These are people who have spoken with you specifically about your skills and knowledge in real estate and can be great for recommending their friends and families. Staying in touch with these connections is vital. Here are a few ways to continue the relationship after the sale has been made.  

Utilize A CRM 

A CRM will organize all your contacts so that you can stay consistent in contact with both leads and past clients. It’s easy to send newsletters and other content to your email list and stay in the minds of all those in your SOI.  

Write Cards  

Another way to establish a connection with a special and personalized touch is through writing cards or sending postcards. Whether it be for birthdays, congratulations, holidays, or other significant dates, writing a card to those in your SOI establishes a strong connection.  

Show Your Expertise 

Share your expertise with potential clients by providing valuable information and insights on the real estate market. People will want to refer to you and work with you if they deem you an authority. There are quite a few ways to do this.  

 One of the best ways to achieve this is by providing high-quality and relevant content to your social media pages and personal website. Consider adding a blog to your website to showcase all that you know about the industry. This builds confidence in your abilities and makes you a much more attractive choice for those looking to buy or sell.  

Attend Industry Events 

Industry events are a fantastic opportunity for networking with those in the industry. Attend industry events and conferences to learn about your field’s latest trends and technologies and network with other professionals. You’ll get the latest information to stay ahead of the competition and build valuable connections for your real estate referral network.  

Build Relationships With Local Businesses 

In addition to relationships within the real estate industry, it helps to also build connections with local businesses. Local businesses often have a dedicated clientele that will respect a referral and recommendation from the business itself. Part of being a successful real estate agent often involves getting involved in the communities you serve. What better way is there to achieve this than connecting with local businesses? 

Real Estate Related Businesses 

Strategic relationships with real estate-related businesses are a great way to build your network. Think of businesses that clients who are buying and selling may also frequent. These may be home improvement stores, moving companies, storage facilities, and other places clients may need when buying or selling their homes.  

Non-Related Businesses 

It is also important to build relationships with local businesses that aren’t necessarily related to the real estate industry. Local restaurants and shops are beneficial to connect with. Many locals frequent these businesses and it helps these local establishments to know who you are. Establish a relationship built on respect and trust so that local businesses will recommend you to customers and locals. 

Tips For Success 

Building your real estate referral network takes time and energy. If you stick with it, you’ll have a solid foundation for referrals so that your company can continue to grow and thrive in the industry. Take the ideas above and apply them to your business so that you can continue to thrive as a real estate agent. In addition to the strategies and tools above, it helps to have some tips for success to keep you going. Here are a few things to keep in mind as you work to build out your referral network for your real estate business.  

Be Consistent 

Consistency is key when it comes to building a referral network. Make sure you stay in touch with potential clients and consistently provide exceptional service. It’s important to be consistent in your communication with clients but also in your networking efforts. It takes time to build solid and valuable connections so stick with it and you’ll have a great referral network in place.  

Be Patient 

Patience can be hard when you’re eager to grow your business. However, building a referral network does not happen overnight. It takes time and patience. Don’t get discouraged if you don’t see immediate results. Stick with it and you’ll start to see the fruits of your labors.  

Ask For Feedback 

If you feel like you’re not seeing much in the way of results from all your efforts, don’t hesitate to reach out to your clients for feedback. Ask your clients for feedback on your services and use their feedback to improve and refine your approach. Your clients are your target audience and their opinion can help you improve your marketing and networking approach to support the growth of your real estate business.