03/28/23

3 reasons asking for referrals can jumpstart your business

No matter how busy you get this spring, it’s always the perfect time to ask for a referral. We’ve mentioned this before – but it’s always important to make sure you’re focusing on asking for online reviews and referrals. 

These two “R” words are great ways to help you build a brand and reputation because they allow your happiest customers to spring into action and become your biggest cheerleaders.

Consider these three stats: 

  • When it comes to all businesses, more than 9 out of 10 (92%) consumers trust referrals from people they know.
  • Specifically for real estate, 89% of buyers said they would use their agent again or recommend that person to others, according to our friends at the National Association REALTORS®. On the seller’s side, 85% say they would likely recommend their agent for future services. 
  • The most common way 41% of homebuyers found their agent was through a referral of some kind.

But sometimes even our happiest customers need a little push to become our advocates. That’s why it’s important to make sure your partners and customers know you’d appreciate a referral. Don’t worry about an ask being too salesy, either. If your connection with your client is genuine and they believe in the work you did – or are doing – for them, they’ll be happy to pass along your name to others.

That’s right, you can even ask for referrals before a deal is closed, according to popular real estate coach and podcast host Tom Ferry. During a showing, the follow-up after listing a property, and of course, at closing are three times he recommends.  However, he does advise making sure the timing is right before asking for a referral though, meaning you want to do it when your client is relaxed and not during a stressful time. 

The bottom line is that while we know your hard work stands on its own, it’s also important to make sure we’re asking for referrals all season long. Our teams always appreciate the trust you show in us, and our teams always aim to deliver for you and your clients.

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