Rules for referrals
NORWALK, Conn. – June 12, 2014 – Because referrals are the best way for real estate agents to generate new business, they must take steps to keep the referral engine going.
They must cultivate existing relationships because it is easier and less expensive to gain new business through past clients; but they should not expect their referral strategy to work overnight, as consistent, ongoing efforts will pay off in the long run.
Realty practitioners should block off time on their appointment calendar to devote to cultivating referrals; mention their work in every conversation they have; and be sure to politely ask for referrals, rather than expect contacts to do so on their own.
Additionally, they should augment their referral efforts with Facebook, Twitter, LinkedIn, and other social media platforms; use a contact management system to simplify their referral plans; focus on doing a few things really well, rather than try to use every referral-building tool available; track and assess results; and look outside of the real estate sector for creative referral-building strategies that they can adapt and apply to their own profession.
Source: RISMedia (05/19/14)
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