Small Tips to Generate More Referrals
Ask for Referrals Continuously
A large number of realtors and loan officer tend to not ask, or plainly forget. Studies have shown that the best time to do this was prior to the loan or home purchase closing. The key here is while the licensed individual was still actively involved with the client and had their complete trust and attention.
You need to at all times believe that your clients would be delighted to refer someone to you. However, don’t expect or ask a client if their transaction with you was very stressful.
Make it easy for past clients to refer you. This can be solved by giving them:
- Your brochures that lets people briefly know about what you do and why they should pick you.
- Instructions about how to go to Yelp.com and other review sites to input a review
- Your business card, with a request on the back to refer a friend if they ever need financing.
Incorporate Referrals into Agreements
Many client relationship start with an agreement. Realtors have buyer and seller exclusive or non-exclusive agreements and depending in the state you are in, there’s a mortgage broker agreement. The objective of this document is to define the expectations, fees, and any other measure ahead of time, so there is not any misunderstanding going forward.
So, although you are making a request for them to provide you with a referral, there is not a stipulation it must be given at that moment. A really good way to do this is to add the following phrasing like this:
“If XYZ company meets or surpasses a minimum of 75% of the described goals by the end of the second quarter, Client John Smith will provide at least three qualified people looking to buy or refinance.”
This method makes certain that your client has the chance to see how well you deliver on your word firsthand before they agree to providing you with a referral.
Exceed Expectations
This is similar the written agreement and is fairly easy to do. Although, there is no guarantee, when you exceed someone’s expectations in a large transaction, you have earned their trust and they will certainly send people your way if you simply ask. Keep them pleasantly surprised as you over-deliver on a promise.