How to Double (Or Even Triple) Your Referral Business

Want to get more real estate agent referrals? It doesn’t take as much additional effort as you might think. Consider the following scenario…

Imagine you’ve hired an accountant to do your taxes. You expect that professional to know tax law and filing requirements, do accurate work, and complete your returns on time. If she does, then you’re satisfied.

You might even recommend her to a friend or colleague.

But what if she does just a little bit more than you expected? What if she also identifies a couple of practical ways to reduce your taxes immediately — saving you money — and continues adding value by sending you a monthly newsletter with tax tips for real estate agents?

In that case, the chances you’ll recommend her will likely double or even triple.

Why?

Because she didn’t just meet your expectations, she exceeded them. And here’s the thing: She didn’t exceed them by much. She just did a little bit extra to add value and provide great service.

This is what real estate trainer and coach, Richard Robbins, refers to as “the expectation gap”. According to Robbins, if the gap between our expectation of a particular service and what we get is positive — that is, the service is better than we expected — we’re likely to spread the word.

So how do you exceed expectations in a way that attracts more real estate agent referrals?

Of course, it starts by first meeting your client’s expectations. That’s why it’s so important to manage those expectations during your initial conversations with a client. During a listing presentation, for example, you should walk them through your proposed plan to sell their home and provide a clear picture of what they can expect re: viewing appointments, price, advertising, communications with you, etc.

Then you need to exceed those expectations. You can do that in a variety of ways.

For example, you can offer recommendations, ideas, insights and suggestions. In other words, your expertise. Even such qualities as being friendly and helpful, and especially being responsive to calls and emails, can differentiate you.

Another way to add value is to stay-in-touch after the transaction with the occasional call or visit, and especially with a monthly real estate direct mail newsletter.

A real estate newsletter comprised of valuable articles and tips is powerful because it reminds your clients — every single month — that you’re the kind of agent that exceeds expectations. This tactic works particularly well within a good real estate marketing system.

So the return on investment is compelling. Do just a little more to exceed expectations. Generate a lot more real estate agent referrals. Something to think about!