How to Grow Your Local Referral Network
As a real estate agent, you know that even brief interactions can lead to new business opportunities. You’ve also learned that past clients are often your best advocates in the community when it comes to connecting you with potential future homebuyers.
If you want to keep your business growing at a steady pace, continue reading for low-cost tips to extend your referral network in your local community.
Communicate Regularly with Past Buyers
It’s a critical error to assume that everyone you’ve worked with will think of you when it comes time to find their next house — or when a friend or family member asks them for a real estate agent referral. It’s crucial to stay in touch with past buyers and keep communicating the valuable services you can offer them down the road.
The best way to stay top-of-mind with past buyers? Put a system in place that lets you keep in touch with this valuable client base on a regular basis and update them on what you’re up to, new offerings, etc. Ways to do this include:
- Email drip campaigns
- Traditional print media like postcards and personally branded magazines
Ask Your Buyers for Referrals
It doesn’t get much simpler or cost-effective. Once you feel comfortable with a new buyer, pleasantly remind them that your business is heavily dependent on referrals from your current clients. Let them know if there are special groups you specialize in serving (first-time buyers, retirees, veterans, etc.). If you ask them in a friendly manner with extra appreciation, most buyers will be happy to pass your name along to the people they know who are in the market or will be soon. (Again: Be sure to let them know how grateful you are!)
Host a Housewarming or Small Gathering
When circumstances allow, hold a get-together or small housewarming event or happy hour for some buyers who have just purchased a home with you. Encourage them to invite friends and family, so you can make new connections while they’re enjoying the new home you helped make possible. Don’t feel like you have to turn on the hard sell; just be friendly and confident in knowing that you’re planting seeds that will blossom into new business down the road.
Build Relationships in the Community
As you’ve probably already learned, all the marketing in the world is no substitute for meeting people in person. This can be tricky during a pandemic, but chances are you’re still getting out of the house to some degree, whether it’s to the store, church, gym or mall. By occupying the same physical space as other people, you’re building relationships even when you don’t realize it.
Social distancing means you can step up your efforts in the online space. Spend a little more time and attention on your blog or Facebook page, where your posts can communicate some of your personality and establish your credibility in the home buying space. Online is no substitute for in person, but it’s still a valuable way to form and build those all-important relationships.
You should also consider partnering with a local independent mortgage broker. It’s a great way to get a go-to mortgage expert on your team with access to an unparalleled variety of loan options. Using a mortgage broker also typically results in savings, like lower monthly payments and agreeable loan terms, that will provide your buyers a positive homebuying process and increase those all-important referrals.
Building Valuable Connections in Your Community
Whether it’s online, via print media or in person, the more connections you make in your community, the more business you’re likely to attract. Even with the complications of COVID going on now, it’s more important than ever to engage with people in authentic ways that will have you reaping the benefits for years to come.
Looking for more ways to build your referral network? Partner with an independent mortgage broker to grow your business and give your buyers the best homebuying experience.