Referral Biz Always Vital – But Even More so Now
Agents who nurtured customers have an edge as real estate slows down, while those constantly seeking brand-new clients are in for a rougher time.
NEW YORK – In 2023, referrals are crucial as the market deals with post-COVID uncertainty plus rising interest rates and shaky home prices.
Referrals must be earned, and the key is to ensure that buyers have a good agent experience.
“It’s important for agents to level-set with clients and allow us to guide a seamless home sale or purchase process with their best interests in mind,” says Usaj Realty owner Jenny Usaj. “For first-time buyers, it’s especially important to discuss the current challenges in the market.”
Don’t think of a transaction as “this deal.” Think of it as “one deal that should lead to many more.” Referrals should be considered an essential tool of doing business, and agents should keep in touch with buyers about other things besides the deal.
Given that Google and Yelp have become go-to resources for potential leads, agents should strive to collect and post good reviews. The agent’s own website should showcase client testimonials, and Facebook is critical for reviews. Agents should also create a Zillow profile page.
No agent should pay for reviews. They should also make an effort to be in others’ sphere of influence by engendering trust and individualizing referral contacts. The importance of habitual referral marketing, networking and directness cannot be minimized as relationship-building tactics.
Source: Inman (01/13/23) Rowe, Craig C.
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