How to Generate 100 Referrals a Year as a Real Estate Agent
Table of Contents
- How to Become More Referral-Oriented
- Creating Your Top 100 List
- Setting Up Your Referral Partner Team
- The Power of Daily Instagram Stories
- Weekly Facebook Live Videos
- Repurposing Your Videos for YouTube
- The Importance of Weekly Video Emails
- Monthly Mailers to Your Top 100
- Making Monthly Phone Calls
- Scheduling Time for Personal Meetings
- Building Relationships with Birthday Program
- The Impact of Handwritten Thanksgiving Cards
- Conducting Annual Real Estate Reviews
- Hosting Two Client Appreciation Events Per Year
How to Generate More Referral Business as a Real Estate Agent
As a real estate agent, one of the ultimate goals is to generate more referral business. The majority of your deals, around 30, 40, or even 50 per year, should ideally come from referrals. But how do you get your past clients, sphere of influence, and referral partners to give you more referral business? In this comprehensive guide, we will provide you with a step-by-step communication plan that will help you achieve just that.
🏘️ How to Become More Referral-Oriented
Before you can start building your business through referrals, you must first become more referral-oriented. This means becoming a person of integrity and value in your community. Provide exceptional service to your clients, update the community on real estate market happenings, and be a force for good in your area. Build a reputation as someone to look up to in the real estate space. This establishment of trust and integrity is a foundation upon which referrals can flourish.
📋 Creating Your Top 100 List
Start by creating your Top 100 list. These are your favorite 100 people on the planet, including past clients, friends, family, and referral partners. These individuals should be the ones you can call up anytime without it feeling awkward or strange. If you don't have a full 100 people, start with what you have and work towards expanding your list. The goal is to have a personal relationship with each individual, making it easier to ask for and receive referrals.
💼 Setting Up Your Referral Partner Team
In your Top 100, it's essential to establish a referral partner team. These individuals are professionals, just like yourself, who you will build long-term business relationships with. When you or they work with a new client, it will become second nature to mention and recommend each other. Aim to have two of each of the following professionals: divorce attorneys, probate attorneys, estate attorneys, financial planners, CPAs, accountants, insurance agents, and mortgage loan officers. These partnerships will strengthen your ability to generate referrals.
📸 The Power of Daily Instagram Stories
In today's digital age, content marketing is vital to real estate success. Utilize daily Instagram stories to provide glimpses into your day-to-day real estate activities. Share tips, strategies, and experiences with your audience. By consistently posting engaging content, you build a connection with your followers and establish yourself as an expert in the field. Remember to tell stories rather than simply selling. Connect with your audience through relatable and engaging narratives.
🎥 Weekly Facebook Live Videos
Don't shy away from making videos. Start creating weekly Facebook Live videos to engage with your audience. Choose a specific day each week and create a Facebook event page to notify your followers of your upcoming live video. One video per month should focus on a real estate market update, highlighting the latest trends and insights. Another video should consist of an interview with one of your referral partners, providing valuable information to your audience. The remaining two videos can be real estate-specific tips or buyer/seller educational webinars. Consistency is key in building audience trust and engagement.
📺 Repurposing Your Videos for YouTube
Maximize the reach of your videos by repurposing them on YouTube. Download your Facebook Live videos and upload them to your YouTube channel. This platform allows for a wider audience to discover your content, further establishing your expertise and increasing your chances of receiving referrals. Additionally, take advantage of your videos by sending weekly emails to your database. Include a short blog-style description with a link to the video, keeping your audience informed and engaged.
✉️ The Importance of Weekly Video Emails
Use the videos you create to send weekly emails to your database. Craft personalized emails highlighting the content of your video and its value to recipients. Be consistent in your delivery by sending 48 video emails per year, providing a steady stream of relevant and educational content. By consistently appearing in their inboxes, you maintain top-of-mind awareness and become their go-to real estate professional.
📬 Monthly Mailers to Your Top 100
In addition to video emails, send monthly mailers to your Top 100 list. Whether it's an email or physical mail, the goal is to provide valuable information and nurture relationships. Utilize the content from your videos, such as real estate market updates, tips, or spotlights on referral partners, to create engaging newsletters. By diversifying your communication channels, you strengthen your presence and reinforce your commitment to serving your clients.
☎️ Making Monthly Phone Calls
Real connection comes from personal interaction. Set aside time each month to make phone calls to your Top 100 list. These calls should focus on building relationships rather than asking for referrals. Show genuine interest in their lives and businesses, and ask how you can help them achieve their goals. The law of reciprocity states that the more you give, the more you receive. By leading with contribution, you create a stronger bond and increase the likelihood of receiving referrals.
🤝 Scheduling Time for Personal Meetings
Beyond phone calls, take the initiative to schedule face-to-face meetings with individuals from your Top 100. Whether it's grabbing a coffee, going for a run, or having a meal together, these personal meetings solidify your relationships. Strengthen the trust and connection you have with your clients and referral partners by spending quality time with them. Show your dedication to their success, both personally and professionally.
🎁 Building Relationships with Birthday Program
Make each person on your Top 100 list feel special by implementing a birthday program. On their birthdays, give them a personal phone call, send a handwritten birthday card, and provide a small gift. It doesn't have to be extravagant; even a one-dollar scratch-off lottery ticket can bring joy. By acknowledging their birthdays and making them feel valued, you deepen your relationships and increase the chances of receiving referrals in return.
🦃 The Impact of Handwritten Thanksgiving Cards
Stand out by sending handwritten Thanksgiving cards to your Top 100. In a world filled with digital greetings, a personalized card goes a long way in expressing gratitude and fostering a deep connection. Take the time to reflect on your relationship with each recipient and include a heartfelt message that showcases your care and appreciation.
🏠 Conducting Annual Real Estate Reviews
Ensure that you stay engaged with your clients by conducting annual real estate reviews. These face-to-face meetings allow you to provide a full market analysis of their property, as well as discuss any necessary property improvements or life changes. Additionally, you can bring along your mortgage loan officer to perform a mortgage and debt analysis. By providing comprehensive real estate support and guidance, you solidify your role as their trusted real estate partner.
🎉 Hosting Two Client Appreciation Events Per Year
To show your gratitude and strengthen relationships, host two client appreciation events per year – one in the summer and one in the winter. These events provide an opportunity to entertain and engage your top 100 and other potential clients. Plan activities for both children and adults, such as bounce houses, face painting, and balloon tosses. By creating memorable experiences, you reinforce your commitment, maximize client loyalty, and increase the likelihood of receiving referrals.
Following this comprehensive communication plan will help you generate more referral business, build stronger relationships, and establish yourself as a respected real estate professional. By consistently providing value, staying engaged, and fostering connections, you can achieve long-term success in your real estate career.
Please note that these are just the highlights of the plan. Each step can be expanded upon and customized to fit your specific business and clientele.
Resources:
