05/18/22

Don’t forget the importance of referrals to win this summer

As spring turns into summer, our team wanted to remind our friends and customers that it’s always referral season. After all, real estate – and business in general – is all about relationships and referrals. 

Plus, while many of our markets remain strong, we know lots of our fellow real estate professionals are looking for ways to make sure business stays hot, no matter how interest rates and inflation affect things in the future.   

We’ve talked about the importance of online reviews a lot in this space, and you could certainly consider this a related topic when it comes to upping your marketing efforts. All of us around the closing table work hard to ensure we’re delivering a great modern customer experience, and we think others should know about our efforts, too. 

With that in mind, we thought we’d share some recent sales statistics about the importance of referrals when it comes to all businesses. These figures are certainly eye-opening.   

According to that 2021 Hubspot survey:

  • More than 9 out of 10 (92%) consumers trust referrals from people they know.
  • Consumers referred by a friend are four times more likely to buy, and referred customers have a 37 percent higher retention rate.
  • 83 percent of consumers have said they made purchase decisions influenced by a friend’s social media post.

Here’s the kicker: There are plenty of times when companies let the opportunity to ask for a referral pass. Even salespeople are guilty of this. HubSpot reports that less than half (47%) of top performing salespeople ask for referrals on a regular basis versus only 26% of non-top performers.

With all of this in mind, if you have loved working with us, tell others about us. Please and thank you. Plus, we hope this message has got you thinking about how to ask for referrals for yourself!

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