5 Habits for Building Referral Business

5 Habits for Building Referral Business

5 Habits of Referral Business Building Home Loans by Karen Jones

Few things are more reassuring in business than an endorsement from someone you know and trust. In fact, referred prospects have such high levels of comfort that closing ratios are higher than other prospecting methods. If you want more people to recommend you, these tips can help:

Lay the foundation. Put the idea in the minds of your happy clients.  Early in the relationship, ask clients if they would feel comfortable referring you once they’re sure you do a good job.  When you send out your “Thank you for your business” and “Closing Cards” to them, ask for referral opportunities in print as well.

Set daily goals.  Make it a habit in your day-to-day conversations to ask for referral opportunities from the people that you come in contact with.  Especially those that are happy with your service to them, but not yet ready to buy now.  And to make it easier for them to honor your request, ask them for just one referral that is ready to make the move of owning or selling their home.  When you bring it down to one referral request, your client just may take your request more seriously.

Turn compliments into consultations. Whenever a customer pays you a compliment, follow up with a thank you and a referral request: “Do you know anyone else who can benefit from my services?”  I like to put in some of my own flavor to it as well.   For example:  “I love helping people and need you to help keep me busy so I can continue helping.”

Create more synergy. One of the most powerful ways to generate more referrals is by referring others. Be a referral resource and the people that you refer to, will remember you.  Look for opportunities to refer associates or introduce clients to one another.

Be specific. Tell clients and referral partners who you want to meet—first-time homebuyers, retirees, or 2nd home buyers…even retired veterans, etc. People can filter your request more easily and are less likely to feel “on the spot.”

Don’t forget to thank those who give you referrals. Send a note, keep them informed, or invite them to lunch.  Most definitely, the personal touch and not just an email.  When you stay in touch and share gratitude, they are more likely to refer you again.


Karen Jones Co- Banner with DisclosureFor professional use only. Not intended for consumer distribution.


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