Superstar Secret # 8. They use referral systems to attract a steady stream of referrals.
Superstar Secret # 8
If you’ve been in the business for any period of time you know that referrals are the lifeblood of your business. Pre-sold referrals are undeniably the best quality, most profitable, easiest-to-convert leads you’ll ever attract in your business!
Because they are…
- Less rate conscious
- More trusting and approachable
- More loyal
- Easier to set appointments with
- Require less time and energy
- Less costly to acquire in many cases they’re free
- A great source of more referrals!
Its no wonder that most realtors rely almost entirely on referrals for new businesses.
But the difference between the Superstars and the mediocre majority is that they setup referral systems that provide a predictable and consistent flow of quality referrals into their business. There’s a big difference between word of mouth and referral systems.
Average mortgage pros get their referrals through word-of-mouth or WOM, top producers get their referrals through referral systems.
WOM occurs when one of your clients just happens to be talking to someone who just so happens to mention they’re looking to buy a new home and your client just so happens to recommend you as their trusted mortgage advisor. We love it when that happens don’t we?
But the problem with relying on WOM is that we have no control over it. It’s unpredictable. It occurs by happenstance and serendipity.
If you are a Superstar Realtor, you refuse to leave your marketing – and you’re income – to happenstance. You need a marketing system that produces predictable, consistent results and that is what referral systems give you.
One of the most powerful referral systems we provide to our Realtor Partners, is what we call the WOW Factor Formula. It includes four cards.
The first is called The Initial Inquiry Card – Immediately after a seller or buyer client requests to meet with you, send out a handwritten greeting card to your client, thanking them for entrusting their real estate needs with you.
For added WOW FACTOR, enclose a $5 gift card from Starbucks or Tim Hortons. This will go a long way towards improving your closing ratios and boosting your referrals in repeat business.
The next card is called The After Closing Card – After the transaction closes, send out another Thank You card expressing your appreciation for their business.
But don’t stop there. Exceed their expectations with a gift, such as a box of brownies or pecan brittle. Remember, little things really do make a BIG difference!
The next card is called The Referral Thank You (Unclosed) – Every time you receive a referral, regardless of whether it has closed yet or not, send out a postcard or greeting card to the person who referred you and thank them for the referral. Yes you could do this by email, but that doesn’t have near the same effect. Something tangible always has more impact than something digital. Trust me it works.
The last card is called The Referral Thank You (Closed) – After a referred deal closes, go back to the referrer and do something special for them to reinforce their positive behavior. We recommend rewarding referrers with a $100 gift certificated towards an excellent restaurant. Then invite them to have a fun night out with a guest couple because breaking bread with friends is always more fun. Guess who they’re going to be talking about at least once during that memorable evening, you my friend and that means your chances of getting more repeated referral business go up dramatically.
As you can see, a referral system is a systematic process, which you can use time and time again to generate referrals at will.
As an added-value service, we can provide you with our entire WOW Factor Formula System. Including the complete four card campaign with all the design and content done for you.
Plus, you’ll also get access to an amazing online card-sending system that does all the printing, collating, envelope stuffing, stamp licking and mailing for you!
For more information on how we can help you grow your business with proven Done4U marketing systems call us today! 714.352.0808.