How to Get Referrals from Real Estate Agents

How to Get Referrals from Real Estate Agents
6 min read
03 November 2022

Real estate professionals are aware of how lucrative it can be to manage referrals from other brokers. One of the most profitable components of the business is engaging in two-way recommendations with other agents. However, the majority of real estate brokers are not making the most of this potential.

This article offers some ideas for creating a game plan for getting referrals if you're an agent. The power of the internet is combined with traditional networking in this method, which is essentially all there is to it.

Using the Internet's Networking Power

You may communicate with folks from all around the country and the world via the internet. When it comes to social networking sites like Active Rain, Estate Agent Networking, LinkedIn, Facebook, Twitter, and many more, this is particularly true.

However, most real estate brokers find it challenging to understand how websites like Active Rain and LinkedIn may help their company. Since most of the clients that real estate brokers work with are locals, it is unclear how establishing business contacts in towns on the other side of the continent will be beneficial to you.

It's true that social media sites like Facebook, Twitter, and a few others enable you connect with locals. You may, for instance, search for local friends and followers in your city, town, or area. Or you could join Facebook groups where some of the members have interests similar to yours. Imagine, for example, that some concerned members of your community have created a Facebook group to express their opposition to the construction of a new big box mall on the outskirts of town. Or mention that your city or town has a dating group, a photography organisation, or a small business group.

However, joining organisations like these has some clear drawbacks. You might not wish to support the cause being advocated for, or it may just not be a very good "fit" in other ways.

Almost any group of local followers will include people with various causes to advance, businesspeople promoting their goods or services, children having fun, and regular folks just wanting to share news and pictures with their friends and family.

Nearly none of these people want you to promote your real estate services in every post or comment you make, even in subtly. Therefore, it will be challenging to spread your marketing message without alienating more people than you attract.

You're likely not going to locate people engaged in real estate concerns and opportunities in your neighbourhood on websites like Facebook, Twitter, Active Rain, and LinkedIn, which is what you actually want to do.

Other real estate agents are something you can locate on some of these websites. What use is that, though? They are not prospective customers. In your town or city, they are unlikely to purchase a home.

You might be able to find real estate agents on some of these websites who are interested in swapping recommendations with you. especially on a website where that is the only thing it is focused on. According to these agents, "If you scratch my back, I'll scratch yours." And that's a fantastic place to begin if you want to create a reliable, effective referral network.

Old-fashioned networking is a crucial component as well.

The internet may be a very disappointing instrument for marketing, despite its strength and potential as a means for communication. As countless others have discovered, launching a website or blog does not ensure visitors. Additionally, it most definitely does not ensure customers. There is no guarantee that referrals will wish to be shared with you, even if you identify a group of people who are committed to doing so. Working at "good old fashioned networking" to get feedback from your network of connections is necessary.

The truth is that just because you have a website doesn't mean people will utilise it or buy from you. First of all, the majority of people won't ever find you.

The same holds true for using social media platforms like Facebook, Twitter, or Active Rain. Being present is insufficient. You need to take part. By participating, you can meet new people and expand your network of contacts. Telling others what you're doing, sharing relevant experiences, showing interest in what others are doing, and demonstrating interest by commenting on their contributions and ideas or offering advice when they're having issues are all examples of participating.

This is what we mean when we talk about "good old fashioned networking" – meeting individuals who have similar vital interests to your own, collaborating with them on projects and business prospects, and demonstrating an interest in their opinions and actions.

This is what we mean when we talk about "good old fashioned networking" – meeting individuals who have similar vital interests to your own, collaborating with them on projects and business prospects, and demonstrating an interest in their opinions and actions.

Is it conceivable to combine these two elements—the strength of the internet and traditional networking—and produce a successful marketing plan as a result? More importantly, can one successfully build an agent referral network in this manner?

Yes, it is, and the formula is actually rather straightforward. Find other agents who are interested in networking with you first. A smart place to start is online, particularly at sites that focus on real estate agent networking.

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