Building A Culture of Referrals – Part 3: The Positive Impact of Referrals on the Industry
Written by Ali Calladine, March 23rd, 2017
Over the last two weeks I’ve written about building a culture of referrals. Last week’s blog was all about how to be excellent and earn your referrals, and two weeks ago the topic was how to talk about referrals. As I’ve been reflecting on the culture of referrals, and hearing from you phenomenal realtors across the country, it occurs to me that building a culture of referrals is not only about benefiting individual REALTORS® and clients, but that it actually has a positive ripple effect through the Real Estate industry.
When we give our clients phenomenal experiences and learn to talk to them earnestly, authentically, and organically about referrals – we set a culture where they talk about their experience working with us. What’s more, is that this cultural tide does not end at our business. As more agents take this approach to earning referral business, we will see an exponential positive influence on the culture of Real Estate as a whole as REALTORS® raise the bar for their service, find clients who are the best fit for their unique approach, and develop a better reputation.
As we’ve said – the key to earning referrals is to be excellent at what we do: from market knowledge, to negotiation skills, to communication. By valuing referral business, one must face the reality of the experience our clients have had by asking them to recommend us to others. While this may be unnerving, it does ultimately give you the opportunity for critical feedback, to hold yourself to a high standard of service, and to always be looking for ways to improve. Imagine the impact on real estate if this was the norm! By staying dynamic and valuable, we ensure that the Real Estate industry stays strong and relevant.
Beyond just raising the standards for excellence and growth, a culture of referrals also helps clients and REALTORS® find the right fit for business, and sets up stronger relationships from the beginning. When a client comes to you from a referral- they are more likely to share your values and put importance on the unique strengths you hold in Real Estate. Furthermore, you’re starting off with a trusting relationship- giving yourself lots of space to communicate deeply with your client, and find the best possible path for them as they navigate the market.
It’s natural that this approach of excellence, communication, trust and authenticity will make waves in the reputation of REALTORS® overall. When clients are supported and encouraged to share their positive stories about their realtors, everyone will start to hear about how phenomenal Real Estate experiences can be. This shifts the associations, expectations, and culture around our industry and changes the game of what we’re facing when we talk to any new prospect about Real Estate. When we build our businesses through a culture of referrals, we’re encouraging connection, story telling, and honesty in the narratives that are being spread about Real Estate.