Real Estate Referral leads are the highest quality leads Realtors can get. With attention to marketing, right tools and good quality of client service, agents can easily grow their inbound leads flow.
What are the inbound referral?
Referrals that real estate agents receive from others are called inbound referrals. In similar fashion; referrals that get sent out to others are are called outbound referrals.
To increase business revenues, agents should focus on both inbound and outbound referrals.
How inbound referrals help to grow business quickly?
Referrals are the life blood of real estate business. Referrals come in many forms. One of the highest qualified referrals source is other agents.
Inbound agent referral sources include:
- Real estate agents from your local area, those have additional leads, they would need help with.
- Real estate agents, those retired but still active helping clients.
- Real estate referral agent those represent one side of transaction, but refer leads from other side to different agent
- From agents across the country, looking for agent in your area for their relocating client.
Accepting inbound referrals from other agents; providing exceptional service to their client will lead to many more referrals from the happy client. And multifold scale of business growth continues quickly.
Moreover, a real estate inbound referral doesn’t costs a dime upfront. You can earn even more through better service, turn your clients into a loyal and permanent client referral lead source.
One good referral let’s say will lead to 2 new referral from the happy client. Those two new referrals each refer 2 in total 2×2 = 4. Quickly those 4 will each refer 2 4×2 = 8. Growth continues like that.
1 good agent referral can become 1000s of new referral leads.
Who is looking for referral agents?
Just like receiving agents are on lookout for inbound referrals; on other side there is equally pressing need for sending agent to find perfect top real estate agent for their client.
Sending agent may be from local area as receiving agent or they may be from out of the area looking for referral agent for their client moving into the area.
Example seller agent from local area may not write buyer offers and maybe looking for another buyer agent to exchange referral clients.
Agents from out of the area, still rely on old school methods of searching in internet, attending conferences for networking, joining network of business coaching gurus to find partner referral agents for inbound referrals.
In modern times in the year of 2021, much better way is to use a technology tool solution to find referral agents, build your own personalized partner network, nurture the network to attract inbound referral from other referral agents.
How to receive more real estate referrals
For receiving more referrals; put yourself in the shoes of sending agent and think through how they might find you. In this age of all things digital; most likely they will find you through online search.
But with information flood; it is difficult to find a good agent just with internet information. Sending agent have to call and interview multiple receiving agents.
Make it easier for sending agents to find you. Utilize technology solution which is specifically tailored to help receiving agents catch the attention of the sending agents. Complete your agent profile in it; provide information sending agents would look for like referral fee offering, social media links, web links.
Another great unique feature it has, it lets agents to build their own referral advertisements. Sending agents can quickly find receiving referral agents on map; or look up for attractive advertisement and call first to interview.
Technology solution also optimized agent profile for search engines, so if someone searches phrases like “Referral agent in Austin, Tx”, it would automatically show the referral agent with most updated profile including city infomation.
How to receive more inbound referral leads with no upfront cost
Understand not all leads are same. Big internet portals started offering leads to agents as referral leads for big percentage fees. These leads not as highly qualified as direct agent-to-agent referral leads. Follow above guidelines and attract more referrals. Agent to agent referrals are the best up upfront cost inbound referrals agents can have.
Conclusion
Master the art of attracting inbound agent referrals and grow Realtor business quickly.
- Use technology solution to give you quick boost with networking, marketing, ads and putting your name in front of referral agents seeking for partner agents in your area.
- Build your own partner referral network
- Provide ultimate service to the agent referral client. It leads to many more client referrals from the happy client.
- Communication is one of the main issues with agent referrals. Be pro-active and provide great updates to referral agent
- Avoid lost referrals. Just like one successful referral leads to many more compounded client referrals; lost referral cuts off stream of new inbound referrals.