Referral is simply a recommendation to consult the (professional) person referred to.
It function as a link of network of people (of which real estate business is about) where leads and
clients can be generated to you and your real estate business at ease and to save real estate marketing cost. It essential for every service and product delivery business to adopt the referral system in running their business daily.
In real estate, referral comes by virtue of satisfaction derived by Service delivery by a real estate professional to a particular client who is happy and simply referred another prospective client(a friend) to the real estate professional. In a simple explanation we mean Mr B (client1) request for a service from Mr A ( A real estate professional) and he derived satisfaction from that service at the end of the deal. After that Mr B (client1) has a friend Mr C (client2) who in one way or the other is in need of same service. Here Mr B (client1) without hesitation would refer his friend Mr C (client2) to Mr A (the real estate professional). And when Mr C (client2) also derives satisfaction from the service delivered by Mr A (the real estate professional) at the end of the deal will equally referred Mr D his friend (client3) to Mr A ( the real estate professional) and so on. This is how the referral system works in real estate business.
A better understanding of the importance of referral by a real estate professional who is in the real estate business is an additional tool to grow the business. Ask me how?. It would enable you to recognize the power of referral when you study how your client get to know you, grow your referral base from 0 to infinity, increase your leads and client from zero to infinty hereby makes you have control over your business.
To build your referral, it would be required of you to take the following steps:
- CONSTANTLY MAINTAIN AND COMMUNICATE WITH YOUR NETWORK.
Do ensure that you maintain and communicate your business with your friends, family,real estate agent, real estate professionals neighbours and everyone you come accross. They are very good referral source that can direct leads and clients to you most especially if you had worked with some of them in the past who had contributed in growing your real estate business. Such people deserves an appreciation from you.
- BE ON THE SOCIAL MEDIA:
The social media platform is an avenue that can get you a referral. Therefore be more active when advertising and marketing your business on it because advancement in technology has made it simple, possible and essential for someone to do his or her business online hereby reaching out to large number of people. Also, the number of internet users increases on daily basis which is good and most are on the social media sites like Facebook, twitter, LinkedIn, pinterest, Google plus, whatsapp and many others seeking for solution to their real estate problems, searching for homes and land to buy and sell, searching for real estate companies to commit their investment into, seeking for brands,searching for investment opportunities and so on. Dont be surprised how a referral will get to you through this platforms because they will see what you do and come for it.
Therefore it is adviceable that you to step up and dedicate some time on your social media by posting real estate investment advices, advertise and market your services and real estate that are for sale, for lease,to let and aunctioning, make suggestions and comments on real estate issues discussed on social forum. You just may not know who is reading the post ( just like you my valued reader reading this post).
- CLOSE MANY DEALS AS POSSIBLE:
This is also a good strategy to increase and get more referral and client to grow your real estate business. The more deals you close, the more referral you get. How is this possible?. Because it is practically proven that clients tend to trust professionals they have worked who had delivered quality service over a period of time. As such, the client keeps coming back for more or refer you to another. Also real estate professional and property owner whom you have come accross and close deal with can equally refer you.
Start communicating with old network of friends, be active on social media and close many more deals to get referral and grow your business today.
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This is really a nice and informative, containing all information and also has a great impact on the new technology. Thanks for sharing it,
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