A Hidden Source of Real Estate Referrals Most Agents Ignore

How many referrals would you like to receive next week?

If you could just say, “Hey, I want to receive referrals,” how many would that be? Now, everybody would say, “As many as possible,” but let’s be realistic. How many have you received this year? What’s been your average? You’ve probably been getting one a week. For most of you, that’s not the case.

Wouldn’t it be amazing if you just got one referral next week? What if you got two? Wouldn’t that be absolutely incredible?

You might say, “How can I start to juice this? How can I get referrals to start flowing to me regularly?”

We often think of it in terms of our spheres of influence, which is good. But we can also get referrals from another category, another source — and that is B2B referrals.

What’s B2B? Business-to-business. We’re always looking at business-to-consumer, B2C, but B2B is a powerful, powerful strategy for you.

Let me give you a good example. If I want to start receiving one referral a week, maybe two, what should I be doing? I should be using the power of reciprocity. That means I need to be sending out referrals myself. Two a week at a minimum, probably more — maybe three, four, or five a week.

Now, how many referrals did you send last week? How about the week before, or the week before that?

And who am I sending these people to? You’re talking about painters, attorneys, financial services people, tax professionals, landscapers, carpet layers. There are so many people we as real estate professionals can refer to, but maybe we’re not doing it the right way.

Here’s the wrong way to send a referral: somebody calls you and says, “Jim, I need a painter,” and you say, “Oh, I’ve got a great one. Here’s his name and phone number.” You might think that’s the right way. It’s not.

They may call the painter, but they may not mention you. You’ve got to insert value into this. You’ve got to put yourself in the middle of the equation.

So what I recommend is saying, “Hey, I’ve got a great painter. Let me do you a favor. If you don’t mind, let me call my painter and let them know you’re my client. That way you get the best pricing, the best service, and VIP treatment that I know you deserve. Would that be okay?”

Then call the painter: “Hey, I’ve got some good friends who need a painter. They asked for a recommendation, and of course you’re at the top of my list. I always refer people to you when they need painting services. Can I connect you guys? I’ll send a quick text.”

Now you’ve put them in touch with each other. You’ve inserted value.

What’s the likelihood of that painter sending a referral back to you? It’s dramatically higher.

At some point you should also ask the painter, “Do you have anybody you refer to? Family, friends, clients who need a REALTOR? If you have someone on your shortlist, I’d love to be on it. I love sending referrals, and I think word-of-mouth marketing between local business owners is the best. Let’s start a reciprocal relationship.”

A lot of people talk about being part of referral clubs or referral organizations. That’s great, but the more powerful strategy is actually sending referrals. The more you send, the more you receive.

So guys, get in tune with that this week. Start being intentional about sending referrals regularly. The more opportunities you give to clients and referral partners, the more referrals you’ll generate.

You can juice this even more by calling everyone in your sphere and saying, “Hey, as we move into fall and winter, people have a lot of projects they want completed before spring and summer. If you need any real estate-related work done on your home, I’m in contact with tons of great vendors and would love to be your real estate concierge to help you find some great people.”

When you say that, people see it as a value-added service. They’ll say, “I do need a painter. I do need a landscaper. I do need this or that.” Now you start building that relationship.

It’s an absolute winner. Try it and see what happens.

Set a goal for this week: send out four or five referrals and watch what happens.

If you want more ideas like this, check out The Path Performance Coaching Program and start your first month for only $1 here. After that, you’ll get hundreds of lead generation strategies like this, helping you blow up your business and take it to the next level.

Love to see you there. Have a great day — and good selling.

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Why do Brokerage Owners, Office Leaders, Team Leaders, and Solo Agents choose Jim to be their coach?

+ 32 Years of Real Estate Sales, Management, and Coaching Experience
+ Top 1% REALTOR Himself (he has been in the trenches)
+ Opened his First Real Estate Company at 23
+ Grew his Real Estate Company to 17 Offices (largest in Oregon)
+ His Current Team Closed $1.4 Billion in Sales in One Year
+ He is a Current Real Trends Top 500 Broker

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