The Importance of Referrals and Earning More
In any sales industry, referrals are a big part of getting business. A referral is a recommendation from someone that helps to build a client relationship faster than with cold leads. You have most likely gotten the referral because you had a successful transaction with the referring client. A lot of times, referrals lead to fast and easy closings, here’s why.
If you have been referred by a mutually trusted party, chances are you already have something in common and you’ve been given rave reviews. It will be easier to build rapport and trust with a client who already knows someone that has had a successful transaction with you. It pays great dividends to offer some type of referral incentive program to your clients, because of how many of those transactions run smoothly and close quickly.
Benefits of Referrals
When another client refers you business, you will see many benefits of that. Your potential client wants to work with you because of the great things they have heard from their friend or coworker. Because of this, many of these clients will tend to not only finish the transaction with you, but also possibly pay a higher price because of the trust they feel with you.
As you work more with your referrals and you have happy customers, you will have your own marketing tool that works better and is far less expensive than other marketing options. Many happy clients mean many referrals for you.
Showing that you care about your clients and building a relationship with them will bring more people to you and increase your real estate business. People like the idea of working with someone that they know was kind and caring to their friend, and will treat them the same through the home buying process. Many real estate agents have remained friends with clients for years after working together to buy a home. These also are returning clients, and you want your name to be the first one they say when someone is look to work with a real estate agent.
Client referrals are your ace in the hole. They are inexpensive, will stay with you longer, and are more likely to return after having a great experience!