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Real Estate Referral Lead - Building a Business on Successful Relationships

Jan 26, 2008
One of the most important benefits that a real estate firm/agent could get from good customer service is the generation of real estate referral leads. Real estate referral leads begins with the simple act of satisfying customers, so that they will recommend and refer their network of friends and relatives to you. Indeed, customer satisfaction is important in getting real estate referral.

In general, referrals are crucial for sales. The more referrals you get the better the chances that you can make and close deals; listing appointments, listings, sales, lease purchases, etc. So it is important to build good rapport with your clients, as they will pass on messages to their friends and family about the quality of services they can expect to receive from you.

And of course word of mouth is the main vehicle of real estate referrals. There's no other way that people from your client's network will get information about you. And their satisfaction from the service you provided is the key to your success with them and their network, too.

Generally speaking, only a small percentage of aspiring home buyers complete the home buying process. Some estimates show that far less than 50% of potential home buyers are ultimately willing to pay and spend money in purchasing a new home.

What this suggests is that it takes time and a lot of thinking before buyers will commit to the home buying process by putting down deposits. Key to their doing so is your ability to convince them through to take the leap - not through pressure tactics, but through information.

A proven strategy for doing this is with via prewritten home buyer and seller reports.

Home Buying and Selling Reports
Prewritten real estate marketing reports are an effective way to educate buyers about the home buying process and establish rapport at the same time. Selling is about relationships and the more your prospects connect with you and trust you to help them with what may be their most experience in their lifetime the closer you will be to converting them to paying customers.

A real estate referral lead is arguably the best lead to have, as the person will come to you being predisposed to transact business with you. Consequently, it should be relatively easy to 1st educate them through informative information and then convert them because they grow to trust you, much like their friends that referred them to you.

Tips to Build Strong Real Estate Referral Leads
In the real estate business it is important to stay in touch with clients; whether it be through phone calls, email message, direct mailings, etc. Similarly, it is equally important to always be easy to reach.

If you have a database of prospects you should contact them via your monthly real estate newsletters and email updates of upcoming events, new listings, exceptional buys, etc.

Additionally, real estate open houses are a good venue to meet people that you can add to your network. Invite your clients and ask them to bring along their friends and family because you never know who'll be interested in purchasing a home.

Potent and Effective
A good real estate referral lead is equally as potent as other successful marketing strategies, including farming expired listings, postcard marketing, real estate internet marketing, lead capturing websites, real estate marketing reports, etc. So it is imperative to make a good impression and establish rapport with each and every prospect you meet.

Remember, a successful real estate referral lead campaign begins and ends with one customer at a time.
About the Author
Click Farming Expired Listings to learn how to average 1 or more listings a week and Real Estate Marketing Talk for more lead generating ideas.
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