New agents should focus on building referrals through people they already know, including family, friends and local business owners.
CHICAGO — In the real estate business, no relationships mean no deals. No deals = no money. Simple, right?
As I traveled the country as one of your NAR YPN reps, one thing is crystal clear: real estate is a referral business. If you’re new in the business, now is the time to put efforts in place to start building those referrals.
So, where do you start? With the people you already know and people who know you. You want to start with the people who are already in your corner, because they’re some of your biggest cheerleaders. Show them appreciation and watch it multiply.
For me, that’s my surf crew at the local beach and folks who recognize me from the waves. Then, I focus on my childhood friends, my classmates, my chosen community. When you start out in your referral-building process, start with the people who make you feel at home. And don’t forget to make it fun and creative.
Now that you’ve identified who you’ll start building your referral network through, it’s time to figure out the “how,” and that starts with paying attention. When you hone in on your people — their likes, dislikes, needs and wants — you have an opportunity to add value to their lives. This lets them know that you see them in their full humanness.
- Call them on their birthdays.
- Celebrate their anniversaries.
- Send thank-you notes.
- Give small gifts (I call them “pop-by” gifts) — under $5, ideally under $1 when possible. Some of the things I’ve given include surf wax, custom pens, sunscreen and dog treats. The goal is to make it fun, personal and accessible all year-round.
Don’t think on it too hard, either. You want to make it your style. I’m a surfer and like to be stylish, so I let that guide how I acknowledge the people in my network. For me, that means relaxed fun. I also focus on little actions, on a regular basis. What does that mean? I show up. I call. I write notes. I remember their birthdays (thanks, Facebook!) and I let them know that I remember.
You might be wondering how you’re going to keep track of everything. In short, you need a database. Start with 200 people you already know. If you don’t have 200, start with 100 and if that feels like too much, bring it down to 50. Whatever the number, start where you’re at, and then set a goal to build to 600. That might feel overwhelming! I get it. Here’s a short list to jog your memory on who you can include:
- Friends, family and coworkers, of course
- The person who sold you your car
- Your dry cleaner
- The tire shop
- The car wash crew where you have a monthly membership
- Your hairdresser or barber
- The owners of your favorite local restaurant
- Your nail tech
You support them with your time, money and resources. Why not ask for their support, too? You’re adding value to their lives and supporting their businesses. When you ask for referrals, you’re asking them to do the same for you.
It really is that simple, but here’s the catch: in this business volume matters. You have to do it a lot! You might get your hair cut once a month, but your barber isn’t buying a house once a month. You want to be top of mind when that person is ready or has a friend in the market.
© 2024 National Association of Realtors® (NAR)
©Florida Realtors®
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