5 Steps to Setting Up a Lucrative Referral Network

Everyone loves referral leads, but if you don’t consistently ask for them, you’ll leave a lot of business for your competitor to claim. To build a strong referral network and fuel your business, set yourself up for referrals from the start of a new client relationship.

Step 1: Provide Value

Making a referral is a big deal. If you want your clients to stick their necks out and vouch for you, you need to show them they won’t regret it. One way to do this is to ask your past and current clients for feedback rather than just testimonials. Asking for feedback accomplishes three things: it helps you locate your strengths, it allows you to improve on your weaknesses, and it shows clients that you are dedicated to quality service.

Step 2: Set the Stage

At the beginning of a transaction, your client probably won’t know you well enough to refer you to their family and friends. Because of this, you’re better off waiting until you’ve established a personal connection to ask for referrals. But this doesn’t mean you have to be idle. Even at the beginning of the transaction you can mention how much your business depends on word of mouth and referrals. Remember to mention how important it is to you for them to have a positive experience so they can tell their friends about it as well!

Step 3: Don’t Disappear

It’s common to step away from the closing table and assume the job is done. However, a referral network requires you to stay in touch with past clients. Friend your contacts on social media and comment on their posts at least every couple weeks so they don’t forget about you.

Step 4: Ask

If you want referrals, you have to ask for them. You can ask for referrals any time after you’ve built trust with your client. When you ask for referrals, remember that it isn’t all about you. Frame your request around helping your client’s friend or family member get into the home of their dreams or helping them sell a home that doesn’t fit their family’s needs anymore.

Step 5: Repeat

The thing about referrals is that they can come from anywhere at any time. Strengthen your referral network by continuing to provide value, reminding your contacts that referrals are important to your business, being an active part of your past clients’ lives, and just asking for them.

Another way to improve your referral network is to create a website where prospective clients can learn more about buying or selling a home, search listings, and get in touch with you. Homes.com’s agent and broker websites are mobile-friendly, easy to create, and offer an unlimited number of pages. Contact us to learn more about starting your own real estate website at (888) 651-8956 or productinfo@homes.com.

Hannah Graham

Hannah Graham

I joined Homes.com's support team in May 2012 before moving to marketing in 2015. In that time, my nieces have grown numerous and my two pups, Annabel and Aya have grown enormous!
Hannah Graham

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