How to Ask for Real Estate Referrals? Ask any experienced real estate experts about what their most ideal source of business is and the majority of them would likely tell you referrals. Some customers give real estate referrals without prompting. However, most will not think to do so, no matter how they loved your service. Take note that the basic rule of sales is that you should ask to get and this is absolutely true for most referrals.
Once you feel a bit awkward asking for some referrals, there are several scripts that will help you be more at ease. You may ask for some referrals after, during, and before the sale. But, you should do the asking in a graceful manner to approach the topic at every transaction stage. All scripts are used by the top-producing practitioners who help them establish the new business.
Aside from building conversations to drive referrals in the transaction, there are some opportunities to reinforce request for referrals. These include the following:
Table of Contents
Important Tips for Real Estate Referrals
At Closing
This is the easiest time to ask for referrals because they’re right there. You’ve just made a big purchase and you’re feeling good. It doesn’t feel like an ask. It feels like a friendly thank you. Plus, now they’re on your side! And if you really want to make it easy, leave them with an information package after you buy. Add your referral contact info to it. This way, they won’t have to look up the information when they get your email.
At closing, make sure you mention how happy they are with the mortgage and home, along with how happy they are with you. And then it’s perfect to ask for that referral – “Do you know anyone you would like to refer to me?” A quick question like that can be the difference between earning a referral and losing out on one.
Following Up After Sale
Follow-up after sale is good business as it enables customers to know you’re interested in their welfare and makes it simpler to ask for real estate referrals in the long run. 2 weeks after your closing, consider calling to say hello and ask about their experience. You should also ask if they need other things and assure them that they can always count on you if they have other concerns. After that, don’t be afraid to ask them to refer you to their work associates and new neighbors. Asking them of somebody who’s planning to sell or buy a home can also help you get more referrals.
Also, Read: Social Media Marketing Ideas for Real Estate Agents
Updating Everybody Who Provides You Referrals
A lot of people love and enjoy being appreciated. Once you get referrals, thank the one who gave it to you and always keeps them updated. Contact and say that you appreciate his or her effort to refer you. Then, ask how are they and give some updates if necessary. Contact your client again for another update if the sale is already completed. Continue showing interest in those who send you referrals and they will send you more because you have shown them that you care.
Also, Read: How to Write a Perfect Real Estate Closing Thank You Letter? Mistakes to Avoid?
Ask in Person
Referral partners are the best way to grow your business. The best thing about referral partners is that they’ll work for free, as long as they feel as though they know and believe in the product. The best way to get referrals is to ask in person! When you approach someone, instead of using a template, tell them all the good things about your business and the value that they can bring to their potential customers. You have to have a product that’s really good and a conversation that’s really good in order to get a referral.
It’s always a good idea to network and to get to know people. Ask people in your industry about the businesses they work with and what they know about referrals. If you need to ask someone in person, make sure you tell them why you’re asking and how it can benefit them to give you referrals. It’s never easy asking someone for a referral, but don’t forget to make your question personal and specific.
Also, Read: Social Media Marketing Strategies for Real Estate Marketing
Right Timing
The key point is to ask for referrals timely. Timing the referral request is crucial to increasing your odds of success. The two factors that increase the chance of success are timing and contextual relevancies relating to the person themselves.
The first step is to make sure you have a good relationship with the person you are asking to refer you. This will come naturally if you are honest with them about how to do it right. Admit to them what you are looking for, how quickly you are looking, and why are are are seeking referrals. Once you’ve done that, you are more likely to get referrals because they know you are looking to meet your goals.
Don’t do it too early as the person will likely forget about it, but don’t do it too late as they might not be able to refer you. The best time to ask for a referral is just before someone has to leave. It’s a natural time for people to be thinking about the next person and coming to the realization that they need to make a good referral. This is the time to ask for the referral.
Also, Read: How to Write a Real Estate Email?
Ask for a Favor
One of the most effective ways to get referrals for your business is to ask for a favor. You can’t expect people to give you a referral if you’re always asking them and never taking the time to help them. When you ask for a favor, you show the person you’re asking them for a referral that you care about them and their needs. You’ll find that they’ll be more receptive and willing to do the same for you. Eliminate the word “buying” from your vocabulary when you’re having a conversation with a real estate agent. Instead, use the word “looking” – it’s a great stress reliever.
To get referrals in real estate, you need to be proactive. Building relationships in real estate is crucial, and referral is the best way to get brand new clients. There are numerous ways to go about this, but one way is to ask for a favor. Think about when you last needed a favour. Asking someone to introduce you to a new client will make you much more likely to get one when you need it.
Also, Read: Email Marketing for Real Estate Agents: 6 Benefits
Keep Ready a Relevant Script
When you’re meeting a new and valuable lead and you want to ask them for a referral, you should use a script. It’s a good idea to verbally rehearse the question and practice using appropriate body language for the situation. Your script could sound like this: – “Mary, I really enjoyed meeting you. I’m so thankful you take the time to meet with me. I’m looking to grow my housing business and I need referrals if there are any relevant opportunities in your mind” Write your script and practice it until you feel comfortable and solid and then take it and go do it.
Sales Smell in your asking?
When it comes to referrals, there are two camps of people. Some people love referrals and some people don’t. There are pros and cons to relying on referrals for customers, but the one thing you want to avoid is coming off as salesy with your referrals. You’re asking for them to share what might be their most valuable resource for your company with you, and you don’t want to make them feel like they’re being railroaded into giving it to you. Approach referrals with the genuine attitude of, “these people are an important part of my life and I’m grateful for them” with the understanding that they’ll want to know more about who you are and what you want.
Ask for Referrals on Marketing Materials
Add these to your letters, brochures, and on the back part of your business cards. The biggest compliment that the customers can give you is to recommend you to their friends and show them that you appreciate real estate referrals.
The thought is simple. Just ask and you will receive. It is very important to ask for real estate referrals. Although it’s one of the simpler prospecting methods, it’s neglected often. A typical complaint among sellers and homebuyers is that they don’t hear from their agents again once the transaction is done. Never make this mistake and reap what you could sow through keeping in touch with everybody you’ve helped and asked about their welfare. This follow-through would pay dividends for many years to come.
It should be convenient for the audience
The most important thing to do when asking for referrals is to make it convenient for people. You can give something in return, like a food-gift basket, or make it easier for them by doing things like picking up their groceries for them. It’s also important to ask for referrals when you’re leaving. Asking for referrals is a great way to network, and can give you access to great new business opportunities. And it won’t hurt your real estate business.
The key to getting someone to refer you is to make it convenient for them. The referrer needs to be able to plug you into their life in some way. To do that, you need to find out what matters most to them and offer such a service. When you’re getting to know your potential referrer, find out what matters most to them and offer such a service.
Give Referrals
One of the best ways to persuade someone to refer their friends and family to you is to give them a referral first. If you introduce them to (or refer them to) people, friends, colleagues, etc., then they will feel compelled to return the favor and do the same for you. If you’re an expert in real estate, for example, and someone asks whether you can recommend a reputable and reliable insurance broker, and you can, you can (graciously) offer to make an introduction and say “I’d be happy to introduce you to Fred.”
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