Homeowners Insurance Is Up 7%... Here’s How Smart Agents Turn That Into Referrals

Hey guys, did you know that in the last 12 months there’s been an average 7% increase in homeowners insurance rates? When people are homeowners and paying insurance, premiums on average have gone up 7%. In a lot of markets, it’s probably much higher than that.

When we hear this, we might say, “That doesn’t impact me. I’m a REALTOR. I’m not selling insurance.”

But this is actually an opportunity.

Everyone in our database has homeowners insurance. Why don’t you reach out to our database today and say, “Hey guys, you’ve probably noticed your homeowners insurance rates have gone up. I just want to be a resource for you. I’ve got a great contact—an insurance professional here in town. If you’re looking to shop your rate or get a different quote, I’d love to refer you to them. Just give me a quick call. I’ll make sure they put you at the top of the list and give you exceptional five-star service.”

Now, why don’t you just give them the name of the person to call?

The reason is you want to insert value into the referral. You also want the insurance person to know that referral came from you. If I just give out the phone number, my client might forget to say, “Hey, Jim referred me.”

You want to insert yourself into the equation.

So when I do this, I call my insurance agent first and say, “Hey Bob, I just saw a report showing insurance rates are up 7% nationwide. I’m going to send an email to my database and endorse you as someone they should call to shop their homeowners insurance. Are you good with that?”

What do you think they’re going to say?

“Absolutely.”

Great. I tell them: “I’ll have people call me first, and I’ll refer them to you so you know the referral came from me. Just let me know if you’re able to help anyone—I’d love to know how it goes. And by the way, if you know anyone thinking about buying or selling, I’d love to earn referrals coming back this way.”

Now watch what happens.

You might be asking what the purpose of this is. 

Two things.

Number one, I’m top of mind with my entire database as someone trying to help them save money. I’m a valuable resource. I want to be at the center of being a real estate concierge. Anything related to real estate, I want them calling me because I have the best vendor relationships in town.

Number two, I’m building a strong relationship with that insurance agent. And who do they talk to every day? Homeowners—many of whom are buying and selling homes. That creates a steady stream of referrals coming back to me.

Reciprocal agreements. The power of reciprocity. A beautiful thing.

This is something you should do immediately with your database.

Have a great day and good selling. And by the way, if you want more ideas like this, check out The Path Performance Coaching—it’s only $1 for your first month, and you’ll get hundreds and hundreds of lead generation strategies just like this one.

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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