How to Invest In Your Referral Network

Written by Breakthrough Broker Staff Writers

Your sphere is full of connections - HVAC specialists, landscapers, fitness instructors, hair stylists, bartenders, attorneys, financial planners, and more. These connections have connections and then those connections have connections. Are you utilizing fellow-business owners within your community to generate leads?

Audit your community.

Your email, text, phone call, conversation over coffee, whatever tactic you choose to reach out to your contacts, make it thoughtful. A one-off message of, “I’d love it if we could exchange referrals,” won’t make much of a lasting impression. Instead, catch up a little and ask how they’ve been. Below are a few scripts you could send in email or text:

  • “Hey there, hope you’re doing well! No need to return my text/email/message if you’re busy. I just wanted to let you know if you need anything, feel free to reach out.”
  • “Hello _, I’m curious if you know of anyone looking to buy or sell a home? If so, I’d love to connect with them.”
  • “Hi there, how has business been lately? If you’re in need of any referrals, I’d love to help out!" Then when you really get to the meat of the conversation ask them who would be their perfect client or what are some challenges they’re facing in their business? You can apply what information they’ve given you to any future referrals you give them. If they own a landscaping business and you refer someone who lives in an apartment without a yard, then you haven’t provided them anything helpful. On the flip side, if you know of someone who is going through divorce, referring them to a CPA makes sense. The important takeaway is to be intentional with who you select as your referral source not only for you but for them as well.

Put a plan in place.

As an agent, blocking out time to lay the groundwork for your success will benefit you exponentially. Set aside an hour each week to connect with your contacts. One initial conversation won’t stick for very long. In order to make this connection fruitful, you may need to follow up a 2nd, 3rd, or 4th time. Just like you, your contacts are in different stages of life where they may not be as available. These are important to remember when building a plan:

  • Scale - Instead of reaching out to all 20 contacts in one week, reach out to 5 each week. This is much more attainable and will allow for deeper connections.
  • Execution - Sticking to your plan is just as important as creating it. Firm execution will produce a higher reward.
  • Consistency - Your goal is to be in the back of their mind when they speak with someone who is looking for a real estate agent. The best way to stay relevant is to be consistent.

Go one step further.

Bring these folks together in person if there is no competitive overlap. Tighten your network by having a get-together a few times a year. As the host, you can serve as a hub for everyone while also having authority. They, in turn, can benefit from mingling with their community.

By utilizing your community, messaging intentionally, adhering to your plan, and going the extra mile, you can build a really stable and resourceful referral network.

Breakthrough Broker Resources

Seller Referral Letter
Closed Buyer Referral Letter
SOI Marketing Ideas

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