This week on the Real Estate Success podcast Kyle and Bryan discuss the impact and importance that referrals have on your business. They share three strategies you can use in your business to help grow your referrals business.

1. Past and Current Clients

The first source is the most direct—your past and current clients. Treating every client as if they're your only one is vital. This high level of service leads to referrals, as satisfied clients are likely to recommend you. Keeping clients continuously informed about their transactions is essential, as uncertainty can lead to dissatisfaction.

2. Sphere of Influence

This includes friends, family, previous coworkers, and acquaintances. New agents often overlook this group, thinking their sphere is too small or not wealthy enough. However, even a small sphere can yield significant referrals, especially if you maintain a good relationship and stay active on social media.

3. Vendors

The third source, often underutilized, is vendors. Regularly interacting with vendors, like termite inspectors or home warranty providers, and asking them for referrals can be very effective. Reciprocity plays a crucial role here; by referring business to them, you can expect referrals in return.

Implementing Strategies for Enhanced Referrals

For Past Clients:

• Provide exceptional service, making each client feel like they're your only focus.

• Stay in touch post-transaction through events, social media, and regular updates on neighborhood market trends.

• Thoughtful closing gifts tailored to clients’ interests can leave a lasting positive impression.

For Your Sphere of Influence:

• Host client appreciation events and invite your sphere. This nurtures relationships and keeps you top of mind.

• Engage with your sphere on social media by sharing both personal and professional updates.

• Use social platforms to demonstrate your expertise and personality, building trust and approachability.

For Vendors:

• Regularly meet with vendors and genuinely ask how you can help their business.

• Propose a reciprocal referral arrangement, underlining the mutual benefits.

• Consider organizing events exclusively for vendors to foster a community and facilitate cross-referrals.

Asking for Referrals

A key takeaway from the podcast is the importance of directly asking for referrals. Kyle and Bryan advocate for an approach where you first offer help, thereby naturally leading the conversation towards mutual assistance. This approach feels less salesy and more genuine, fostering long-term relationships.

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