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    Importance of Referrals in a Real Estate Business

    July 5, 2016

July 5, 2016

Importance of Referrals in a Real Estate Business

It is a well known fact throughout any business industry that referrals can either be the making or breaking of a business. And for a business like real estate, referrals can mean the difference between being extremely successful or relatively unknown, no matter how much time and effort you put in.

Referrals in Real Estate

At the very least, a referral will end up being simply a recommendation. But if the services are appreciated and the referral is highly positive, it generates and represents the best quality leads that will be comparatively a lot easier to follow up on and close. Those closed leads, in turn, generate more leads through further referrals and this chain reaction of referrals is the ideal scenario for any real estate agent.

Importance of Referrals

There are several ways in which referrals are absolutely vital to a real estate business and in this blog, we will be discussing some of those ways.

Client Referrals Help in Building a Good Reputation

The first and foremost point of importance in any sales based business such as real estate is a good, solid rapport. Trust is key when you’re involved in such a business, and the quickest and easiest way to build lasting trust is by being referred to a prospect via a mutually trusted and satisfied party. Not only is a prospect bound to be instantly interested in your services when referred, they will place a greater amount of trust in you as well.

Offering incentives and rewards for referrals can and does pay back significantly. When a satisfied customer feels encouraged to talk about the quality of your business and the services you have to offer, it almost guarantees further interested prospects.

A good reputation can also be a lot more effective than innovative marketing techniques.Therefore, it is very importance to have a stellar reputation as a real estate agent.

Cost Benefits are Higher with Client Referrals

Potential customers are statistically more likely to adopt a service that they have been referred to by a close friend, as compared to being informed through a marketing campaign. And when informed of it in the former way, the potential customer is more likely to pay the full service charge.

Positive, trusted reviews could benefit a business massively. Newer clients are already informed of the superior service quality and therefore, are less likely to negotiate on charges, resulting in greater profits. Additionally, this can result in a reduced need for expensive marketing campaigns.

Client Referrals Stay with the Business Longer

With the higher level of trust that clients place on your business and services, comes a greater chance that the new client with stay with you instead of moving on to a different agent. Client retention is also an excellent indication of the quality of the services being provided.

All in all, client referrals are arguably among the top most important factors that contribute to the success of a business.

Client referrals are very important to Listing Grabber as well. It’s about earning trust. Learn more about our 100% money back guarantee!

Listing Grabber
Listing Grabber helps you find prime real estate seller leads before they go on the market. Unlike real estate lead generation companies, Listing Grabber integrates proven direct response marketing with proprietary “stealth technology,” enabling you to identify motivated sellers months before they list.
Listing Grabber

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