3 Ways To Build Your Referral Network
Three ways to build your referral network and make connections.
If you are a real estate agent, a strong referral network is non-negotiable. Referrals have the highest Return on Investment (ROI) of any lead source, and their conversion rate is fantastic. This gets more business and as an entrepreneur, getting more clients is essential. It will take intentionality and perseverance, but it's very possible for you to thrive in this area. So here are the things that you need to build a strong referral network:
1. Stay top of mind with previous clients. This is crucial since you never know when they will need your services again or if they could recommend you to their friends. One way to accomplish this is by properly utilizing your CRM. Add all the important dates for your clients, like birthdays and anniversaries, and use them as an excuse to keep in touch. Regular communication is the best way to stay top of mind. Plus, you can ask them to write reviews, which would be very helpful since the majority of people read reviews while browsing local businesses.
"Building your network will require intentionality and perseverance."
2. Partner with other entrepreneurs. Homeowners need more than just a real estate agent—they need contractors, lenders, electricians, and more. These collaborations are great because the relationship is often reciprocal; you refer them, and they refer you. It’s a win-win!
You could tag them in social media posts, host events with them, or put them on your list of preferred contractors you share with others. You could even have a list of recommended dentists, pediatricians, restaurants, etc. It is an easy way to show clients that you are a trusted source of information.
3. Get involved in your community. There are lots of ways to do this, and they will help you meet new people. For example, volunteering can be fun, is a great way to meet new people, and shows you care about the community. Joining a sports league gives you a mutual interest with someone to form a connection. Also, you could join your local chamber of commerce—research shows that people are around 50% more likely to trust someone involved in the local chamber.
Building a strong referral network does not have to be daunting. If you need help implementing these strategies or have any questions in general, don’t hesitate to reach out to me! Give me a call or send an email; I’m always here to help.