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Real estate referrals are the most cost effective way to grow your real estate business. See what the latest studies show us about referrals. http://bit.ly/1aHBkzj
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Matt SmithsonHead Honcho at The Smithson Group
@re_coachfacebook.com/TheSmithsonGroup
http://TheSmithsonGroup.com
Why Are Referrals So Important?
● 8x more cost effective than other lead sources.
● They have very high conversion rates.
● Instant level of trust.● They boost your energy.
Referral Study and Survey Insights
● NAR Profile of Home Buyers and Sellers 2013○ 80% of Buyers and 84% of Sellers would recommend
their agent○ 42% of Buyers and 39% of Sellers found their agent via
referral● Nielsen Consumer Study 2012
○ 84% of consumers trust recommendations from friends above all other forms of advertising.
Why Do People Refer You?
● They trust you (Be The Expert)
● They had a great past experience with you
● They want to help others (Advocate)
Who Are Potential Referral Sources?
Past Clients
Friends, Family, Acquaintances
Elder Law Attorneys / Financial Planners / Accountants
Business Partners
○ Loan Officers
○ Home Inspectors
○ Pest Inspectors
○ Tradesmen
○ Advertising Representatives
○ Surveyors
○ Settlement Agents
How To Get More of Them
● Have a database and manage it using a KISS approach
● ASK for them, and GIVE them
● Provide Excellent Service and Value (WIFT)
How To Get More of Them
● Stay In Contact With Them
○ Have a Plan
■ Call Them
■ Send Them Items of Value
■ Meet With Them
■ Repeat Consistently
How To Get More of Them
● Make It Easy For People To Refer You
○ Business Cards
○ Up-to-date Contact Information
○ Social Media Connection
How To Get More of Them
● Make It Easy For People To Refer You
○ Business Cards
○ Up-to-date Contact Information
○ Social Media Connection
