Real estate sales and marketing gurus talk all the time about working by referral. What makes working by referral the number one path to real estate success? Keep reading to learn why...
- Working by referral is the best way to build a profitable real estate business
- You need a plan that helps you break down referral barriers, build trust and ensure top-of-mind awareness
- From Your Friends is the most effective, affordable and easy to use relationship marketing tool available.
WHY WORKING BY REFERRAL IS THE BEST WAY TO BUILD YOUR BUSINESS...
HOW ELSE WILL YOU BUILD
Waiting around for the phone to ring or a hot buyer to show up at your open house is painless but ineffective. Door knocking and cold calls are about as fun as a prostate exam. And most agents can't afford traditional television, radio or print advertising. Relationship and referral marketing is the most affordable and effective way for a real estate agent to build a long-term successful business.
Top producing agents, the ones with more than $100,000 in personal income, get more than 66% of their business through referrals and repeat customers. According to the NAR, working by referral is the number one indicator of agent success. To be successful, do what other successful people do! What are you doing to generate referrals and repeat business? If you don't already have a plan From Your Friends can help you connect with your sphere!
REFERRED CUSTOMER ARE WORTH 35% MORE
Building a long-lasting, successful business isn't just about getting customers. It's about getting GOOD customers! Referred customers are more likely to be serious about buying or selling. They are easier to close into a paying customer and less likely to interview other agents. They also listen to and trust your advice. All because they came referred to them by someone they trusted.
WHY YOU NEED A RELATIONSHIP MARKETING PLAN TO GENERATE REFERRALS...
BUILD TRUST TO
In a high-dollar, complicated transaction like buying or selling a home, consumers won't make the decision to trust an agent by looking at their face on a bus bench. They want a referral from someone they trust! That's why 54% of home buyers last year either already knew their agent or found them from a referral. A relationship marketing program will ensure your referral network knows, likes and trusts you enough to refer their friends and family.
YOU'RE LOSING 80% OF YOUR CUSTOMERS!
According to the National Association of REALTORS, over 80% of home buyers and sellers say they would use their real estate agent again or refer them to friends. But only 20% of them actually do! That means the average Realtor gets no referrals or repeat business from 8 out of 10 of their past customers. Why? The number one reason consumers say they don't go back to their real estate agent for future transactions or refer their friends is that the agent DIDN'T KEEP IN TOUCH!
TOP OF MIND AWARENESS IS THE KEY TO REFERRALS
Your past clients are certain to be on several competing agents' farm lists. If you don't keep in constant contact and reward your customers for their relationship with you, it becomes easier and easier to lose their business and referrals to someone else. Top referral generators know you need to touch your sphere at least 2-3 times per month. When someone in your sphere hears the words "real estate" they need to immediately think of, and recommend, YOU!
WHY FROM YOUR FRIENDS IS THE TOOL TO ACHIEVE YOUR GOALS...
A TRUE ITEM OF VALUE
By providing a monthly item of value, your clients know you truly appreciate them. You've done something to improve or enhance their lives. That's what generates referrals! You've made your marketing about THEM instead of YOU. It's a great indicator of how you'll treat your clients. Plus each restaurant or attraction offer gives you the excuse to connect via phone or email to share your experience and see how your sphere enjoyed redeeming the offer.
DIRECT MAIL IS MARKETING THAT
Sure, you can connect with your sphere via email or social media. It's cheap, it's easy. And it simply doesn't work. How many SPAM messages did you delete from your inbox today? Consumer surveys show that 65% of people have purchased a product or service thanks to direct mail -- that's nearly 3x the percentage who purchase from an email or mobile message. And consumers constantly list direct mail as their preferred method of receiving marketing communications. Do you want your marketing in someone's spam folder or will it do more good on their refrigerator, in their briefcase or in their purse?
ONE REFERRAL PAYS FOR
We know real estate agents don't have big marketing and advertising budgets. But for less than $90 per month, you can send unique items of value to your Top 100 past customers and sphere of influence. If just one percent of those people send you a referral, you've paid for the program for years to come! Imagine if two, three or four percent do! From Your Friends is designed to be affordable whether you're new to the industry or a seasoned, top-producing pro.