According to this report by NAR, over 40% of buyers and 67% of sellers found their real estate agents through referrals in 2020. That’s a sizable chunk of the market. Referrals are therefore the driving force of any good business, but they are all the more critical for real estate and mortgages.
But depending on voluntary referrals alone may not be the best idea. Of course, you can come up with some corporate gift ideas for a quick fix, but it is advisable to maintain a good relationship with your clients from the beginning.
The good news is, there are some tried-and-tested practices you can adopt to elicit referrals.
Tips to Earn More Referrals During Festive Season
With the holidays around the corner, there is no better time to put these methods to use.
1. Ask. Respectfully, Of Course
Sometimes, the best approach is the simplest one. Merely asking for referrals can increase your clientele significantly. Keep in mind that there is a time and place for everything, but most clients are happy to refer you to their circle if you politely ask them to.
The best time to request a referral is when your client is happy and satisfied with your service. As your client is thanking you, mention how your services can help others and invite them to drop your name if they come across someone like that. Alternatively, if you own a social media account (and you should), request your clients to drop a review and tag you in it. Don’t underestimate how willing people are to help if you just ask.
2. Host Local Gatherings
Your community is the backbone of your business. Realtor, real estate agent, mortgage broker, it doesn’t matter. But, when your work is dependent on word-of-mouth, you have to make sure you have the local bases covered. Community events and local gatherings are good places to network and build your Sphere of Influence. Monthly barbeques are a solid informal suggestion, but try to host events that showcase your experience in your field as well.
These can be
- Educational seminars that cover the basics
- Q and A sessions that answer questions you get all the time
- Guest lectures at a local college
This way, you are ensuring that your community recognizes you as the person to recommend.
3. Cross-Promote in your Domain
To get a referral, all you have to do is give one. Find out what businesses are directly tied to yours, and form good relationships with them. For example, mortgage brokers need real estate agents to close a deal and vice versa. Why not work together? You will have someone to recommend to your client, and so will they. Working with a supporting business is an edge you cannot afford to lose out on. Take care to focus on companies that align with your work ethic, and thoroughly vet them out before agreeing to cross-promote. Once you do, you’ll have a constant stream of referrals coming your way.
There is no reason to stop with one partnership either. Instead, note what services your client requires when they complete their business with you and form alliances with suitable individuals in these fields.
A few examples of these fields are:
- Real Estate Broker
- Real Estate Attorney
- Property Manager
- Mortgage Broker
- Real Estate Loan Officer
4. Give Out Personalized Gifts
People love to feel appreciated, and a gift is the quickest way of achieving that.
Festive seasons are the best time to send out a gift. They provide you with an excuse and help you use the emotions of the season for your benefit. But, as is the case with any kind of gifting, make sure you plan for the festive season. Last-minute shopping does not play well with clients, and it can be hard to come up with useful corporate gift ideas at the eleventh hour.
When done right, your clients will remember your gifting gesture positively, and this memory will turn into a referral when someone asks them for advice. At the very least, you might end up with a social media shoutout. A word of caution: take extra care to pick out personalized gifts that you know your clients will love. A run-of-the-mill gift won’t cut it.
Here are Some Corporate Gift Ideas to Help You Earn Referrals
1. Try to Gift an Experience
If your clients are fans of art, get them tickets to the local art museum. An experience doesn’t have to be an extravagant affair. When you give a food enthusiast a variety pack of hand-picked coffees, you are taking them on a journey across countries and gifting them an experience.
2. Focus on Utility Over Aesthetic
Focus on items that can provide value to your clients. A painting is beautiful, but your clients aren’t going to be regularly interacting with it. A smart device, on the other hand, requires constant attention. The more your client interacts with your gift, the more you stay in their memory.
3. Watch out for Potential Allergies
Food kits and exotic snacks are good gifts but always check for allergies before you send them out. When you manually pick out gifts for your clients, relying on your memory is not a good idea. Instead, verify on as many counts as possible what allergies your client is prone to have. There’s no point in sending a gift if the recipient cannot use it.
Many things can go wrong when you try to pick out a gift for a client. Corporate gift ideas come at a dime a dozen, but corporate gifting is no joke, and when you factor in the pressure of the holidays, it makes for a very stressful individual. Eva can lift that pressure off your back and make corporate gifting as simple as one, two, three.
From picking out the perfect gift by talking to recipients to taking care of shipping, logistics, and costs incurred, Eva does it all. A simple custom Eva link is all it takes. You can even import your client database to Eva and process your gifting in bulk. Try Eva out for free and see for yourself how much easier getting referrals can be.
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