Real estate agents who work in a transactional way regularly have to worry where their next lead is coming from. Instead of nurturing lifelong relationships with clients and then asking for referrals, transactional agents are always looking for new customers. They purchase cold leads online and then try to turn them warm, often unsuccessfully.
When you Work by Referral, however, relationships are at the heart of your business. Working this way, you know that building relationships with your clients and then asking them for referrals is the best way to ensure that your pipeline is always full of top-quality leads. These leads can be classified into three categories:
- Hot leads: Clients who will buy or sell in the next week or very soon.
- Warm leads: Clients who will buy or sell in the next 30-180 days.
- Lukewarm leads: Clients who will buy or sell in the next six months.
As a relational agent, when you’re generating leads you need to know who you’re starting with and when to act. It’s vital to keep everyone in your pipeline so that, when the hot lead converts, the warm is now hot, the lukewarm is now warm and the cycle repeats.
The best way to do this is to provide value to your top customers and keep developing and deepening your relationships with them. Who currently uses you as their go-to agent and sends you referrals? Serve these people at the highest level, always going above and beyond for them so that they become mouthpieces for you in the marketplace and are eager to refer you to their sphere of influence. A great way to connect with these clients is to provide them with valuable market information and resources on topics such as finances, time management and goal-setting. Writing personal notes and delivering small but useful appreciation gifts is another way to build the connection and the bond between you. When you go the extra mile like this, people will be so impressed by your stand-out service that they will use you for all their real estate needs and refer you to their friends and family too. The best part is that if you enjoy working with these clients, the chances are you’ll also enjoy working with the folks they send your way too.
The time is right to invest in a real estate training program to help you build the skills to create your database and pursue quality leads. For new licensees, 100 Days to Greatness® has just what you need. This comprehensive program takes a deep dive into how to generate quality leads, while also sharing unique dialogues to use with your clients. Sign up today to build a strong foundation for your career in your first few months on the job!