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How Referral Marketing Can Help Grow Your Real Estate Business

How Referral Marketing Can Help Grow Your Real Estate Business

Visual map of a real estate agent's referral network

Posted by: J.Y. Monk Real Estate School
November 7, 2017

Beginning your real estate career can be intimidating. It is difficult at times to understand the best way to get started. Acquiring your first few clients and expanding is challenging, but fortunately there are solid strategies to help you get a foothold in the business and grow from there.

One of the most fundamental ways to maintain a consistent business in North Carolina real estate is to routinely ask your clients for referrals. Chances are that anyone who has bought or sold a house recently knows at least one person who will be looking to buy or sell a home in the next few months. Just as potential clients use word of mouth from people they know as tools for evaluating and selecting real estate brokers, you can use the same method to find prospective clients. This concept of referral marketing is what can help you secure those first few clients and continue to grow.

Friends and Family Can Help

For those just starting out as brokers who do not already have an existing base of clients, the first task to face is building that initial base. How do you actually do that? Start by asking your friends and family for help. Ask if they know anyone who is in the process of looking to buy or sell a house. Your friends and family already know and trust who you are as a person. They naturally want to help you succeed. If your friends and family recommend you to someone, it’s important you ensure the client is served well. Build your reputation as a newly licensed broker who will put in hard work for your clients and do whatever it takes to ensure they have a great experience. This part is essential. Creating happy clients who can potentially be used for referrals is one catalyst that allows your business to grow.

Ask for Referrals

Once you have secured your first few clients, it is important you remember to keep asking for referrals. These clients are sure to have other friends or colleagues who are looking for the services of someone just like you. Just don’t be afraid to ask!

Be Appreciative

Finally, be sure to express your appreciation to those clients who help you as much as you help them. Handwritten “thank you” cards and other thoughtful items are great ways to not only express gratitude and appreciation, but also to create a lasting positive image of your brand in their mind.

It is not always easy to get started in real estate, and often new agents will be surprised by the amount of work and effort it takes to get momentum in the industry. However, all that work you put into becoming licensed won’t be wasted if you put in the same energy and rely on your network for help.