How Realtors Build Referral Based Businesses

Real Estate By Referral

Industry research continuously proves that staying in relationship with a client database is the most effective way real estate professionals can get more business. Agents who generate business by repeatedly “touching” or “dripping on” a group of people that they know call themselves referral based agents.  Realtors that run their business by referral not only contact their databases for business, but also encourage the people in their databases to refer them to people they know.  Here’s how they do it:

MAKE CONTINUOUS & SYSTEMATIC CONTACT

Referral based agents know that staying in contact with their database is the key to increasing production, so this activity should not be structured loosely.  All potential client contact information should be kept in an online database management system that alerts agents who and when clients should be contacted.  Agents then must expect to make a pre-determined amount of contacts each day and keep track of their business generation activities to ensure accountability.

COME FROM CONTRIBUTION

Many agents will shy away from contacting people they know for fear of sounding too much like a salesperson.  Instead, agents that run a successful referral business come from contribution when contacting their databases by asking questions about client needs and offering suggestions to help.  It is their goal to inform and remind their entire database to come to them with any needs, questions or services regarding their home.

CLIENT DATABASE SCRIPTS & DIALOGUES VIDEO:

FOCUS ON SETTING THE APPOINTMENT

Many agents also avoid prospecting by telephone because they disdain the idea of asking people they know for business. Top referral agents circumvent this concern by focusing their efforts on attempting to set appointments with people instead.  They know that you list property in the living room and not over the telephone.  So their dialogue concentrates on securing face-to-face meetings, where the likelihood of obtaining future business and referral business is much greater.

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