Are You Missing Referrals Right Under Your Nose?

January 30, 2017

Referral Strategies

How often are you on the phone your lenders, home inspectors, insurance agents, etc, talking about your clients …weekly? …daily?

Do you ever ask them for referrals?

You may figure that since they work with a lot of agents, that you’d never have a shot at a referral, but I know that most people never ask.

Now, since they know a lot of different agents, you may not get a whole bunch of referrals, but you should get your fair share.

When you do get a referral, keep the referrer up to date and informed about how the sale is going.

You have to realize that they are putting their reputation on the line by recommending you. So how they see you handle your various clients may be the clincher on whether or not they would ever refer someone to you. It may not even be a conscious decision on their part, but you are being judged on your skills.

You may want to take a different service professional out to lunch each week and get to know them better and find out what type of people they are looking for in their business.

Another strategy is to form a networking group that meets for breakfast or lunch weekly, bi-weekly or monthly. There’s groups out there like BNI and other referral groups, where you can model some of what they do and build your own networking group with the professionals you’ve been working with for months or years.

The important thing to do is make sure that you only invite professionals, whose work and skill set you’ve seen and know that they’ll take great care of your clients.

Here’s a short list of people you may deal with a lot in your business that you could have join your group: lender…insurance agent…title agent…home inspector…termite inspector…financial planner…painter…electrician…mover…handyman…stager…landscaper, etc. You get the idea!

I would start out with a minimum of 4 – 5 people and then as time goes on, you can add to the group by referring in others, who everyone believes would add value to the group.

I’d recommend meeting twice a month for breakfast at a local restaurant on a Monday or Tuesday morning, early in the week.

Have everyone give a 60 second “commercial” about themselves and their business. Then have one person each time spend 5 – 10 minutes going deeper into what they do in their business.

If they have any areas in their business that they need help with, that can be discussed with the group. When an issue comes up, what’s discussed in the group stays in the group.

I also believe that as people get to know each other better, then people should feel comfortable starting to refer to others in the group. These are to be non-incentive referrals. You don’t want to have any RESPA violations.

Then when you’re out in the field doing your business and someone needs a service that someone in your group offers, you can easily refer them.

I don’t believe that having referrals for each other has to be a requirement each time to meet, but that’s going to be one of pillars that will keep your group together long-term.

Networking groups from time to time do disband when there’s not enough perceived value offered among its members. So make sure that you keep the group lively and you help each other out. You can try to do some joint marketing to increase each other’s businesses.

Where else can you meet twice a month for $10 Р$15  for breakfast and build relationships and get referrals?

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