Referrals; a Realtor's best friend

While most Realtors' business come from other means, most still cherish referrals. These types of leads are largely thought of as the least expensive and most promising to pick up in the industry. In most markets real estate brokers who focus on referrals are usually among the largest producers. While they don't aways come in vast quantities the quality of these leads are usually much better.

Here are 5 tips from HomeGain.com to help get more referrals:

1) Satisfied Customers

You won’t get too many referrals if you don’t provide good service. Clients who are happy with your service are more likely to refer people to you. Keep your name in front of your past customers consistently. They will forget about you if you don’t touch them often enough. Unfortunately, I have found this out the hard way.

2) Networking

Do you spend time at networking events? This can be a successful way to generate referral business. People do business with people they know and like. It is not uncommon to see several Realtors at networking meetings. Make networking fun and not a chore. If you get some business out of it that is great, if not at least you had a good time.

3) Vendors

How about getting referrals from an appraiser, interior designer, painter or handyman? These can be great sources for referrals. Buy these people lunch, give them gift cards or provide something else of value. Let them know that you are looking for referrals.

4) Don’t Be Frightened

Don’t be frightened to ask for referrals. You should not be ashamed to ask for them. Instead of asking, “Do you know anyone else who could use my services?” ask, “Who do you know who could use my services?”

5) Closing Gifts

This may be the last thing your client remembers about the transaction. A great closing gift could produce a few extra referrals every year. You may want to deliver the closing gift a week or two after the closing. This way you can check on your clients and make sure everything is hunky dory. They will most likely remember this and they will feel that you went that extra mile for them.