5 Ways to Turn Real Estate Clients into Lead Generators

Ready to take your real estate success to new heights? It's time to tap into the power of referrals and transform your existing clients into lead generators! In this fiercely competitive market, building a successful referral marketing strategy is the key to enhancing your reputation and generating a consistent stream of high-quality leads. 🏆

Join us as Rachel Gombosch dives deep into the strategies that will help you cultivate strong relationships with your past and current clients, implement impactful referral programs, and create a system for achieving consistent referrals. 🤝

Don't let this opportunity slip away! Discover the secrets to harnessing the incredible power of referrals and leverage your existing client base to fuel your real estate success. 

You will learn:
⚡️ The importance of referrals in real estate and how real estate referrals work
⚡️ How to tap into your sphere of influence and unleash the potential of word-of-mouth recommendations and who gives the best real estate referrals
⚡️ Strategies for cultivating strong relationships with your clients
⚡️ Implementing referral programs that work wonders
⚡️ Creating a system for consistent referrals that keep your business thriving 📈

Transcript

[00:00:00] According to NAR, 36% of sellers who use a real estate agent found their agents through a referral by friends So also too, on top of that, 27% have used the agent they previously worked with to buy or sell a home.

[00:00:19] This is Curb Appeal, a podcast for real estate professionals who are looking to build out their business and get more deals done, and each episode. We uncover what is and isn't working when it comes to scaling in the industry, listen in and get actionable steps to grow your real estate brand, attract more business and expand your footprint in the industry.

[00:00:39] Okay, let's get started.

[00:00:47] So I think it's really important when we talk about turning your clients into lead generators to really just start with what's the power in, in referral marketing. So referrals are gold in, in the real estate industry, as they, they're one of the most [00:01:00] effective ways to really just generate. Quality leads because they come with that built in level of trust and credibility that makes it easier for them to actually convert into clients for you.

[00:01:10] So the first point I want to bring up here is again, that high trust factor. So referrals come with a high level of that trust and credibility because they're coming from someone, the potential client already knows and trust. It's they're warmed up already for you. So that trust makes it easier for the referred lead to consider and engage with your services.

[00:01:32] Now on that note, just want to throw a quick statistic your way. According to NAR 36 percent of sellers who use a real estate agent. found their agents, um, through a referral by friends or family. So also too, on top of that, 27 percent have used the agent they previously worked with to buy or sell a home.

[00:01:51] So referrals are really big. Again, people listen to other people. So a third, a third of sellers are, are referred. Now, [00:02:00] the second point I want to bring up is quality in leads. So referrals often bring in a high Quality lead because they're more likely to have a genuine interest in your services. Again, they're already warmed up.

[00:02:11] Um, they're already really looking for someone like you to help and assist them with that real estate transaction process. So since they were recommended by someone who had a positive experience with you and your business, they're more likely to actually be serious prospects. So with that on that same note, 89 percent of buyers would use their agent again and would also recommend their agent to others.

[00:02:33] So when you make someone really excited, they are so much more likely to refer you to their network. And then finally, on the power of referral marketing, it is cost effective, which we all love to hear. Uh, so referral marketing is a cost effective strategy as it essentially just relies on leveraging your.

[00:02:51] Existing client base to generate those new leads so it can significantly reduce the need for spending on traditional advertising or lead [00:03:00] acquisition methods that can result for you and a higher ROI on your marketing efforts. That said, you obviously want to make sure you are incorporating all different types of marketing, um, for your business to get the best reach, but just know that referral marketing is a really cost effective solution for you.

[00:03:15] So according to RIS media, 82 percent of all real estate transactions come from repeat and referral business of all the transactions, not just sellers, not just buyers, um, of all of those transactions, 82 percent are coming from repeat and referral business. So this can be a major generator for you. Now, I want to dive into these five key strategies on how we can actually turn those clients into that lead, that top lead generator for you and for your business.

[00:03:44] Um, so you'll notice as I go through these five, they're all so very intertwined with each other. You're going to see a lot of repeat themes. Um, so just know if you start hearing something pretty consistently, it's probably something you should absolutely take note of, um, to help benefit your business and turn those clients into lead [00:04:00] generators.

[00:04:02] Let's see.

[00:04:09] Okay. Um, Marianne, to answer your question about the, the giveaway real quick, um, you can sign up again, but everyone who did register, we will apply that, that 20 percent off code too. But if you want to enter the raffle, make sure you fill out that form. You're very, very welcome. Okay. First strategy, number one, cultivating strong client relationships.

[00:04:31] So we're going to emphasize the importance of cultivating these strong relationships as they're really a key to generating valuable referrals from previous clients. So how can you actually do that? The first thing is you have to provide exceptional customer service. Kind of seems like a no brainer, um, but providing exceptional, exceptional customer service is really paramount, um, in building trust and building loyalty with your clients.

[00:04:53] So make sure that you are always being responsive, you're always being attentive and proactive in addressing their [00:05:00] concerns and their inquiries. Um, I think a really great example of just going above and beyond for your client is especially for sellers. When you're trying to capture their property for listing marketing, I think an example of going the extra mile is instead of just using a solo photo shoot, right, to get those professional images ready to go to market.

[00:05:18] Invest a little more in that marketing to showcase to your client that you are so dedicated to selling their property faster and for more money. Um, and that may include adding on those virtual twilights, right? Adding on a twilight shoot, adding on virtual staging. If their home is empty, you could add immersive solutions.

[00:05:34] All of those different products can really build, um, that trust and credibility. And again, that exceptional experience. with your seller because you're dedicated to selling their home for the best way possible. The second point I want to bring up is just ongoing communication, which includes personalized follow ups.

[00:05:52] So you want to make sure you're actually staying top of mind when you're cultivating these strong relationships and you're communicating with your previous clients on a [00:06:00] regular basis, right? They're not just a transaction. You don't want to do the transaction and be done with them. You want to make sure you're staying in touch consistently.

[00:06:08] So use that, do this by sharing industry insights or reminding them of your presence through social media, you're engaging with them in the online space, um, through email marketing, or even just personalized notes can make a really big difference. So as a real estate professional, you can really foster a strong relationship with former clients by sending messages.

[00:06:27] Uh, you can do greeting cards. You could call them, um, on special occasions. So that could include home anniversaries, birthdays. Um, so all of these different things play into that ongoing communication and that personalized followup. Next thing you want to do is you want to make sure you're actually creating and sharing valuable content with them.

[00:06:45] So you can offer value added content to your previous clients through again, newsletters. blog posts, you could provide educational resources on the real estate market and what it's doing. When might it be a good time for that, uh, that family who you helped buy [00:07:00] a home, you know, five years ago, when is it a good time for them to put their house back up onto market?

[00:07:04] Um, so make sure you're keeping your clients informed, uh, by sharing those market updates. You can also share home improvement tips, or you can share local community events. That's a great way to help a family, um, or even a new family get involved with the community around them. Show them that you're engaged in helping them and adding that additional value, which can strengthen that relationship with your client.

[00:07:25] And then finally here, you want to make sure you're expressing gratitude and you are actually incentivizing referrals. So a simple thank you note can go a really long way or a thoughtful gesture, um, and expressing your gratitude. So make sure you're also in this, in alignment with this as well. You are, um, incentivizing the referrals, you're making it worthy for them to, to refer you on top of that exceptional customer service.

[00:07:47] Um, so you can offer discounts, uh, you can also offer, um, gift cards, really anything can come to mind as an incentive. So again, to build that strong relationship with your previous clients, you want to make sure you're creating a memorable [00:08:00] and a positive experience. Um, and to do that, you really need to go the extra mile, not only in your service, But in your follow up, um, in communication with them, the second strategy I want to talk about is providing referral worthy service.

[00:08:13] Again, uh, this seems kind of like a no brainer, but all of these things play so much into each other. You have to give them a reason to want to refer you. So it needs to be referral worthy. Um, and that can be a really powerful catalyst when you're generating positive referrals. So the ways to do this one again, communication is so, so key.

[00:08:32] So not only do you want ongoing communication, you want to make sure you're actually being effective in your communication with them. So to prioritize that effective communication throughout that entire real estate journey from start to finish and beyond. So again, make sure you're being responsive.

[00:08:47] You're being attentive. and empathetic to clients concerns and their inquiries they may have. You're actively listening to their needs and their preferences and ensuring that they feel heard and valued. [00:09:00] Next, you want to make sure that you are actually anticipating and exceeding their needs. Again, this, this plays into that referral worthy service we chatted about.

[00:09:06] So you need to anticipate clients needs and go above and beyond to actually exceed their expectations. Again, we could go back to the marketing example of instead of just scheduling a professional photo shoot, you were doing everything in your power to list, uh, take that listing to market in the best way possible.

[00:09:22] Um, plus clients really love all of those solutions to remember their home by. So again, you can also anticipate and exceed needs by providing market insights, recommending trusted service providers, and again, you can offer personalized property recommendations. Um, but anticipating their needs really showcases your dedication and commitment to their satisfaction.

[00:09:43] The third point I want to bring up here is again, creating that personalized experience. Um, remember how I talked about, there's going to be some repeating themes So providing a personalized and memorable experience for each and every client. Everyone is different. So make sure you're tailoring your services to meet [00:10:00] their unique preferences and also their circumstances.

[00:10:02] Um, you could even leverage, I love this idea of leveraging personalized video updates, um, to keep clients informed about market trends, real estate news, the transaction process. So all this is, is just recording a short video message and addressing them by their name, um, and discussing topics relevant to their specific property or area of interest.

[00:10:21] So it's a really awesome opportunity to, again, create that really personalized experience. But remembering all of those personal details, again, can help you to foster a deeper connection with your clients. The next point here I think is critical when we talk about referral worthy service and that's requesting feedback.

[00:10:39] So you need to be able to seek feedback from all of your clients at various stages throughout that journey, mainly for the point to improve on your services. So encourage them to share in their experiences through testimonials and online reviews. All of these positive reviews can really serve as a powerful piece of social proof and influence potential clients to learn, um, [00:11:00] to be, who are, can influence potential clients who are interested in looking for a trusted real estate professional.

[00:11:06] So again, make sure you're being proactive in requesting that feedback, because if there are any changes you need, um, to make to your services and your offerings, you can do so accordingly. Next point here is we're going to engage with the community and we're going to offer exclusive events. So this one's really fun.

[00:11:23] Again, it's all about bringing people together, um, and providing that amazing service. So you're going to show your appreciation for past clients by organizing exclusive client appreciation events. Um, this could be offering VIP gatherings, this could be tours of maybe some areas within the community. Um, this could be real estate workshops with industry experts to again, all build on those memorable experiences.

[00:11:45] Additionally, again, we want to make sure we're touching base with the actual community. Um, and your commitment to the neighborhoods you serve by getting involved in community engagement initiatives. Um, so you can sponsor or participate in local charity events such as, um, supporting [00:12:00] community cleanups, right?

[00:12:01] Or hosting, again, neighborhood gatherings to create a positive impression on clients and encourage them to share their positive experiences with each other, right? You're bringing people together to foster those conversations. And then the final point here I want to bring up before we move on to our next strategy is having strategic partner referrals.

[00:12:20] So make sure you're going beyond real estate services. By offering strategic partner referrals, you can build a network of trusted professionals. This can include your home inspectors, your contractors, interior designers, financial advisors. Um, when your clients have needs outside of maybe what services you are providing and you're providing them with those valuable recommendations and those reliable recommendations, you're creating and fostering that sense of value, right?

[00:12:47] So obviously we want to make sure we're showcasing and addressing any needs they have, no matter what process or place they're in, in that transaction or that journey. But additionally to the other benefit to this is that when you partner up with all of these [00:13:00] different vendors, they also will help to refer you since you are referring them as well.

[00:13:04] So great system going on here when we talk about strategic partner referrals. So by implementing these ideas, um, you can elevate your service to, again, that be that referral worthy level, uh, service that inspires your clients to become really enthusiastic advocates for your business strategy. Number three.

[00:13:24] You have to ask. Um, so if you don't ask, you can't assume people are going to just be referring you. Um, so we're going to address the importance of confidently asking for referrals as a critical step in generating those valuable leads. So the first thing about when we actually ask, timing is so key here.

[00:13:43] Uh, you need to choose the right time to ask for referrals. So you need to wait until you actually have a successfully closed transaction. And you've also provided that exceptional service before making the request. Um, so clients are more likely to refer you when their experience is [00:14:00] fresh and it's top of mind.

[00:14:01] Um, and they're also feeling satisfied with the outcome. So timing is key here when you want to ask for a referral. The next thing, be genuine and be natural. So when you make a referral request in this type of manner, you're really avoiding any sense of pressure or awkwardness that, that could have, could have arised from it.

[00:14:19] So you're showing appreciation for their business with you. You're expressing that you really value their opinion. Um, and you're acknowledging their positive experience with you and the value that you brought to their real estate journey. And you just want to be able to capture that, right? Be genuine, be authentic here.

[00:14:35] Now this next tip is, seems a little counterintuitive from the be genuine, be natural, uh, but you, you can utilize a referral script, um, so you can actually prepare this referral script, uh, that helps guide your conversation, right? You're not going to be reading from a piece of paper and sounding like a robot when you're trying to ask for a referral, but what this ultimately does is it can outline what you want to say and the key points you want to [00:15:00] bring up with the referral.

[00:15:02] So you can customize the script again to fit your personality. So it comes off natural, um, and to help maintain that authenticity when you're, when you're following a structured approach next, you can leverage client testimonials. Um, so sharing client testimonials with positive reviews, uh, with your previous clients before asking for referrals.

[00:15:23] So this is a really cool thing to leverage. Um, so these testimonials that were previous to this existing client you're talking to can serve as a really powerful piece of social proof. Um, and can highlight the positive experiences of other clients to reinforce your expertise and reliability. Um, so clients may feel more compelled to refer you when they see the impact of your services on others.

[00:15:44] So maybe the client you're speaking to that you're asking for, for a referral was a first time home buyer, but you're still providing and showcasing those testimonials on how you can help veterans, right? Well, now I, you know, as the first time home buyer, if I know that my uncle, who's a veteran [00:16:00] needs help with a home.

[00:16:02] There you go, right? So you can really make those connections by leveraging those client testimonials. So make sure that you are providing those before asking for your referrals. And then also to again here offer incentives. People love stuff, um, and love discounts and love offers. So take advantage of that.

[00:16:20] Um, this is going to be a way to just encourage referrals and inform your clients about rewards that they can receive for any successful referrals. Um, so incentives can again range from cash rewards to discounts on future transactions, could be gift cards, could be experiences. There's a whole slew of ideas that you could really tap into for those incentives.

[00:16:38] Um, but the item here that you really want to take home is that you need to be able to clearly communicate the benefits of the referral program to motivate your clients to actively participate in referring you to their network. So when you can ask clients confidently, um, for referrals, again, with that well timed and genuine approach coupled with some client testimonials and referral incentives, you can really [00:17:00] increase the likelihood of clients enthusiastically recommending your services.

[00:17:06] Okay. Our fourth strategy here. So we are creating and implementing structure, a full referral program. Um, so to harness the power or the potential of client generated leads, we need to talk about the importance of actually implementing a program and putting something in place that is a system that works for you.

[00:17:25] So creating a referral program can really encourage your clients to refer their family, their friends, their colleagues to your real estate services. Now, when we talk about building out that referral program, you need to be able to identify key touch points. So referral opportunities are most likely to occur at key touch points in that client journey.

[00:17:44] So clients may express satisfaction with the service you've provided after closing or at a milestone anniversary of the home purchase, or maybe during the middle of the purchase, if you helped with negotiation, right? Take notes of all of these touch points with those clients of when they were [00:18:00] satisfied.

[00:18:00] in this journey. So once you're able to recognize and take advantage of those opportunities, you can really encourage those clients to recommend their services and also be very specific with what they're recommending. So you can help guide that conversation of that referral. Next, again, I've said it a couple times, but you need to define attractive rewards.

[00:18:21] We need to incentivize. Um, but here, especially for your program, you need to clearly define what that, um, incentive is. So start by defining appealing rewards for clients who refer others to your real estate services. So again, these rewards could be anything, cash incentives, gift cards, discounts, um, exclusive access to special events.

[00:18:41] You're providing rewards that are compelling, um, enough to motivate them to participate actively. Next, you need to make sure you set clear guidelines for your referral program. So providing clear and straightforward guidelines for referrals to eliminate any confusion or any hesitation for, [00:19:00] from that client.

[00:19:01] Um, so make sure you are clearly defining the steps and requirements for making referrals so clients feel more confident in referring you to others. The next tip here is to again express gratitude and personalize the program because all of your clients are different. Um, so referral programs should really be tailored to suit your client's preferences.

[00:19:21] Um, a personalized approach can really just strengthen client agent relationships, which leads then to more referrals down the line. So again, when we chat about, you know, a personalized approach. This could be thank you notes, phone calls to them, small tokens of gratitude to reinforce the positive experience of referring.

[00:19:41] The next point here is to promote the program effectively. So to maximize the referral program reach and also its impact, you need to use social media, email newsletters, your website, or even offline marketing materials to really spread the word and make previous clients aware of [00:20:00] your referral program.

[00:20:01] You need to remind your clients about the program and point out the benefits that they can gain from referring someone, um, to you. And then the final point under our fourth strategy is requesting referrals strategically and tactfully. Um, so again, you need to ask, but you need to do so at the right time and also in a strategic way.

[00:20:21] So if your clients are satisfied or offer positive feedback, Take a mental note of that opportunity so that you can take advantage of it later when you request a referral from them or request if they know anyone else who could be in need of your services. So you make that process easy for clients by providing, um, you could do referral cards or provide digital links that they can share with their contacts.

[00:20:43] You're being strategic in your approach here. All of that said, a well executed referral system can just really significantly boost your lead generation efforts and contribute to that long term business success. And our final point here is really taking advantage [00:21:00] of tools. Tools are put in place to help you.

[00:21:04] Um, so there's a ton of essential tools you could really take advantage of. We're going to go over a couple here. The first one is being your, uh, customer relationship management system. So your reliable CRM, your, your tried and true, right? So this is going to be crucial for managing and tracking your referrals so it can allow you to organize your client data, allow you to monitor the progress of referral leads and set reminders for those personalized follow ups.

[00:21:29] We know once you start working with a lot of different people, it can be hard to, um, remember who you should be following up with when you last followed up with them. That's where your CRM tool can really come into play and be a great resource for you. So a CRM system, um, just can really streamline that referral process and help you stay organized, ensuring that no referral opportunity is missed.

[00:21:51] Now on that same note, you can also take advantage of referral tracking softwares. Um, so implementing, again, a referral tracking software can really just provide [00:22:00] similar, um, advantages that the, the CRM system can. So it can provide valuable insights into the effectiveness of your referral program. Uh, softwares like this can allow agents to monitor referral sources, track the number of referrals generated, um, and measure the convergence rates.

[00:22:17] Conversion rates of referrals into actual clients. So a lot of really great resources here when we talk about a designated referral tracking software. Um, so all of that data can really help you identify areas maybe for improvement or ideas and areas to optimize your referral strategies. Um, so just as a note, I think I've got some here.

[00:22:37] Yes. Perfect. Okay. So just, um, I wanted to throw at least some tools this way. If you've never taken advantage of any referral tracking software, um, I just listed two, there's so many different options out there that you can take advantage of. There's one called mention me. Um, and there's another one called referrals.

[00:22:50] io that are designated referral tracking, um, systems. Our third point here when we talk about tools is really having [00:23:00] personalized marketing materials designated for your referral program. So developing marketing materials, both digital and print, to promote and share the referral advantages and benefits.

[00:23:13] So this could be email templates that you take advantage of, social media graphics, you can actually print materials like flyers or brochures. You can have consistent and visually appealing materials that really just help increase that awareness and encourages clients to participate in the referral program.

[00:23:31] Now also too, another great when we talk about materials opportunity here is providing clients with personalized referral cards. so that they can easily share with their contacts. So referral cards should ultimately have your contact information on them. They should have a brief explanation of the referral program and any incentives that are offered with it.

[00:23:50] So these cards can serve as a really just tangible reminder, um, for clients to refer you and make it convenient for them to do so. So ultimately, all that said, what are you going to leave [00:24:00] behind to make that client remember you for referrals? And then the final set of tools here is communication tools.

[00:24:08] Um, so again, we've chatted about effective communication pretty diligently in this session, um, but effective communication is essential for a successful referral program. So you need to have access to the right, uh, communication tools, such as email marketing, um, email marketing platforms, all of the messaging apps, your social media accounts for any type of communication.

[00:24:28] to keep clients informed about your program, um, and remind them also to refer and that way you can also express gratitude for those successful referrals. So you need ways to stay in contact with people. So having these tools in place can really just streamline your process of creating and implementing a great referral program.

[00:24:46] Um, and while you're looking into tools, don't forget we are giving you all a free, uh, Referral marketing guides. So make sure you take advantage of that. I'm going to add it one more time in the chat here. So everyone can download that. You should just be able to hit one [00:25:00] button and it will download for you.

[00:25:01] So make sure you take advantage of that tool as well. So finally, as a recap and closing, as, as we close out here, um, we discussed cultivating strong client relationships. Uh, providing that referral worthy service that gets people excited to talk about your business, asking for referrals. Again, uh, if you don't ask, that doesn't mean you can assume that people are just going to refer you.

[00:25:23] You want to be able to implement a strong referral program and also take advantage of the tools for a smooth process. So all of that said, thank you guys so much for joining me today. I hope that you found the strategies that were shared really valuable and actionable for you. Um, by implementing these strategies consistently, you'll really be able to see your business grow through the power of client generated referrals.

[00:25:46] So again, just thanks for, for joining me today, um, and make sure you just keep nurturing those strong relationships and here's to a successful, uh, rest of the year of lead generation. So stay tuned for all of our different, um, other educational [00:26:00] webinars. And again, thank you so much and best of luck in your journey to real estate success.

[00:26:07] Thanks for listening to curb appeal. If you enjoyed this episode, make sure to follow along on Apple, Spotify, or your favorite podcast app. This podcast is brought to you by Virtuance, whether you market one listing a year or thousands. Virtuance is your go to real estate photographer for consistent magazine quality images that are scientifically proven to get results.

[00:26:26] For more episodes of Curb Appeal, please visit virtuance. com slash podcast.