Today our blog has contributions from Brenner associates who excel in commercial or residential real estate sales and marketing. We asked them about what it takes to be successful in residential real estate, and also about the best ways to get referrals. Our team shared some tips we hope you will find helpful.
Q: What does it take to be successful in real estate?
A: Take the time to understand your client’s needs. Ask many questions and listen. Your client has a big decision to make - deciding whether to lease or buy, if the demographics match their goals, traffic and location and what the budget is are only a few points you’ll need to gather. Be armed with an inquisitive and open mind. And again, listen - the client needs to know you have their best interests at heart.
Q: What are the best ways to earn referrals from clients?
Here is a compilation of answers from the team and staff:
1) After the completion of a successful transaction ask the client if they could provide the name of a referral who could utilize your services.
2) Be a “go-giver” versus a “go-getter”. This is a Bernie Cronin lesson. Beyond handling a commercial lease deal or selling the client a residence, learn about their professional background and how you can refer them business. This type of behavior will trigger the client to think of you first when they hear of someone who is interested in listing, leasing or owning.
3) Follow up after the closing. Let your client know you value the relationship beyond the closing.
4) Do a great job and establish a relationship with your clients so when you finalize a transaction a referral is an automatic yes.
5) Ask - who do you know that can benefit from my services?
6) When you are just beginning with a client – plant the seed. Tell them that after you do a good job for them, you hope they will keep you in mind for referrals.
7) When you are writing a letter to a client, adding a simple line that says “We appreciate your referrals” can get your client thinking.
8) Ask your client for a recommendation letter. You can put it in your sales package. Endorsements from satisfied clients carry weight.
9) If you have worked hard for a client and the deal did not work out, it’s a great time to ask for a referral.
10) Call old prospects/clients (warm leads) for new business (or referrals.)
And finally – a “keep it simple” solution from Brenner’s Kathy Alberts:
Ask for a referral if you get a “yes.”
As for a referral if you get a “no.”
We hope you can increase your referrals with these helpful hints!