Experienced and new real estate agents alike may not realize that the value of their real estate business is in their database. Building a real estate referral business from an established list of clientele will help you boost your income and grow your business faster. Establishing a great business practice and working with referrals as one source of real estate business will help you achieve your income goal and build a more sustainable real estate business. But how do you do this?
Staying in touch
What you need to do to build a sustainable real estate referral business is stay in touch with past clients. Use a real estate CRM to add clients and maintain their information. Use notes so that you remember key points about specific clients, such as the home they bought, details about their families, hobbies, things they like, any conversation starter.
Systematic real estate referral business
Once you have a database set up, you have to develop a system that will allow you to systematically stay in touch with them. When you develop such a system, guesswork is taken out and you work from a systematic approach. Work your real estate referral business systematically. Each month, know the number and types of contacts you will make. Use real estate scripts and real estate dialogues to uncover business opportunities from your sphere of influence.
Give value to your clients
Don’t just call and ask for business. Come from a perspective of contribution. Approach your clients as a value provider, not just a taker. What are some of the ways you can do this? Share relevant information with them. How the market is doing in general. What specific action is happening in their neighbourhood. Find a way to deliver value to your clients. You’ll find they’ll be more than eager to help you build your real estate referral business when you give instead of just ask and take.