Referrals Can Make Or Break Your Business

Referrals Can Make Or Break Your Business

Time and again the same question keeps coming to me, "How do I get more referrals?" My answer is always the same, "You must ask for them." In reality, most Realtors know that they have to ask for referrals to get more referrals but it’s the fear of asking that impedes them from moving forward.

This fear of asking is rooted in your attitude. If your attitude is one that believes that you are asking that person to go out on a limb for you by asking them to give you referrals then you will always be battling with fear.

If you truly believe that it will be helping them if you ask them to give you referrals your fear would fade quickly. Your customers want to give you referrals. It makes them feel good that they found a great Realtor that they had a good experience with and they want to share their "little secret" (you) with their friends.

They will be seen as a hero, or someone "in the know." And when their friend receives great service from you as well, your referring customer will feel as though he was able to do their friends a great favor.

When you ask for a referral, and you have treated that person right, you are actually doing them a special favor.

The reason referrals are so powerful is because they come from a credible third-party that has experienced first hand the benefits of doing business with you. They are even more powerful when they come from a friend because you know that a friend has no ulterior motivations but to do what’s in your best interest. You can believe what you friend is saying versus hearing a commercial from a salesperson whose sole purpose is to make money from you.

Referrals are also valuable because most of the time they are completely free. How would you like to receive the benefits of the most compelling sales advertisement on earth for absolutely nothing? You can through referrals.

Research shows the importance of referrals. According to Paul and Sarah Edwards (authors of "Getting Business to Come to You"), up to 45% of most service businesses are chosen by customers based on the recommendations of others. A recent Dun and Bradstreet survey found referrals to be one of the two most popular small-business marketing methods (the other one is advertising).

Lastly, and I think this is the most powerful reason of all, customers that give referrals become more loyal to you and your business. Once someone stands up and makes a public statement about you, psychologically they will become more loyal to you and your business. Referrals if systematically generated can build a base of repeatable success.

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Phone: 480-426-1590
Dated: November 5th 2014
Views: 375
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Treehouse Realty
2075 S Cottonwood Dr.
Tempe , AZ