Do You Know Where Your Next Lead is Coming From?
Catch all the groundbreaking insights of Brian Buffini’s Mid-Year Bold Predictions 2024, now available on-demand. Has there ever been a more complex time in the real estate industry? Brian gives you the inside scoop on what’s taking place behind the numbers. Watch now.
For the average real estate agent, the question that’s often on their minds is “where is the next lead coming from?” You see, most agents work transactionally. They purchase leads from a host of internet sources and undergo the difficult task of turning cold leads warm. Instead of building on the relationships they have with their current and past clients and asking for referrals to the great people they know, transactional agents are always seeking new clients from lists of strangers.
When you work by referral, you know working transactionally isn’t the way to build a thriving, successful business. Leveraging your relationships with your best clients and asking them for referrals is a surefire way to ensure your pipeline of leads remains full. Here’s how to nurture your relationships with your clients and build your pipelines of leads.
Serve your current clients. By doing more than the bare minimum, you’ll stand out from your competition. Keep them updated during the transaction and reassure them throughout the process, even if things appear to be going sideways. Since the best time to ask for a referral is when you’re currently working with a client, be sure to ask for their referrals.
Maintain contact with past clients. One of the biggest mistakes many real estate agents make is losing touch with their clients once the transaction has closed. Your clients want to hear from you! In addition to connecting them with professionals in your network, continue to reinforce your knowledge and expertise by staying top of mind and sending informative marketing flyers each month. Then continue to build the relationship by sending personal notes periodically and checking in with a phone call or text. Remember to remind your clients you’re never too busy for their referrals.
Check in with past clients you’ve lost touch with. Don’t let the years stop you from reconnecting with a past client you’ve lost touch with. It’s always a good time to reach out. Write a personal note or send a letter to reconnect with them. Then, make sure you stay in touch by adding them to your database and sending your monthly marketing materials to them each month.
Focus most of your attention on your top clients. We receive the majority of your business leads from 20 percent of your database. Those 20 percent are the clients who refer you the most. Who are your top 20 percent? If you’re not sure, go into Referral Maker CRM to see the clients who send you the most referrals. Although you should maintain contact with all the clients in your database, be sure to give the most attention—through increased contact—to your top 20 percent. These A+ clients drive your business.
Ask for referrals. Although some of your clients may refer you without any prompting from you, the majority may not think to. It’s not that they wouldn’t; it’s just that they don’t think about it. However, if you ask them to refer you, your clients will likely do so, especially if you have a great relationship with them. Stay at the top of their minds by gently reminding them each time to speak or communicate with them that you’re never too busy for their referrals.
Joe Niego
