As a real estate professional, you might refer your clients to reputable local businesses that you’ve come to trust. But have you asked them to refer their clients and customers to you?
Asking the businesses you work with for referrals is easier than asking your clients for them. Why? Businesses understand the necessity of adding new clients and customers to your database. They get it, and they will often gladly reciprocate the favor.
Every business you work with has its own database of customers to tap into. When people are thinking of putting their homes on the market, they often contact a contractor, painter, landscaper or other home service professional before they pick up the phone to contact an agent.
By building relationships with these types of businesses in your network, you become the first person they think of when a customer or client mentions that they’re thinking of buying or selling a home.
Get high-quality referrals
Business relationships tend to produce higher-quality referrals. A referral from a business isn’t just a personal recommendation; it’s a professional reference from a reputable source.
That isn’t to say that a referral from Aunt Sally isn’t valuable — it certainly is. However, a businessperson who refers a client to you understands the nature of business and will tend to refer great people to you.
Get referrals of higher economic quality
Referrals from businesses tend to post a higher average sales price than referrals from clients. This is especially true if the referral is from a financial planner or someone similar.
After all, if a person has enough money to need a financial planner, chances are they’ll likely purchase a home with a higher price point.
Become the hub of your network
When you refer your clients to businesses in your network and encourage referrals from those businesses, you become the hub of your entire network. Businesses look to you to refer great clients to them just as your clients rely on you to refer them to a reputable service or tradesperson.
You become your clients’ trusted adviser while you build and develop your relationships with your businesses.
It all starts with a list. Write down the names of the businesses you work with on a regular basis as well as those you refer to your clients.
Next, connect with the businesses on your list; let them know they’re the businesses you refer your clients to. Then ask them if they would refer their clients and customers to you.
Remember, all you have to do is ask.
For more great information about B2B networking, check out these free resources.
Brian Buffini is the Chairman and Founder of Buffini &; Company. You can follow Brian and Buffini & Company on Facebook.