Referrals are when your clients, colleagues or vendors send business to you, and they are one of the most powerful tools you can use to grow your business. You get all of the benefit of getting repeat business, but you’re growing your practice by adding a new client at the same time. Strangely enough, given the power of referrals, many commercial real estate professional simply do not ask for them.

[Tweet “Referrals turn prospects into clients without you having to do a great deal of work.”]

Although some clients will keep you at the front of their mind and refer you when they have the opportunity; most won’t. It isn’t that they aren’t willing to send you referrals, though. It’s just that they forget to. The secret to getting those clients to refer you is to maintain a strong relationship with them, stay in touch with them, and remind them that you would greatly appreciate their referrals.

[Tweet “You’re not getting referrals because you’re not asking for them.”]

Once you get a referral, there are two things that you must do:

  1. Provide that referred client with the best service that you can. You should call them immediately and generally provide them with the highest possible level of service and professionalism.
  1. Contact the person that referred you, thank them, and let them know that you’re going to take good care of their referral. If it is your practice to send a thank you gift to clients after they close, it is a good idea to send a gift at that to the person that referred the business as well.

Referrals turn prospects into clients without you having to do a great deal of work to land them. If you are not getting referrals it may be as simple as you not asking for them. Today I challenge you to ask for 1 referral from your current clients.

Learn the systems and methods Massimo Members (coaching clients) use to earn 7X their industry peers. 
Click here to schedule a free consultation.

Recent Posts

RECon 2018 Review – 3 Glaring Negatives

This week I made my annual trek to Las Vegas for the greatest commercial real estate show on earth. ICSC’s RECon 2018 had all the pomp and circumstance as the last 7 years (my consecutive attendance streak), including: the big booths, extravagant parties (shout out to...

The 5 Pillars to Grow a Great CRE Business

When I was running my own commercial real estate firm, I was busy. I would characterize most days as chaotic. Even when I did have a plan for the day, distractions, interruptions, and opportunities would appear from nowhere and knock me off course. I had bought into...

A Simple Yet Powerful CRE Marketing Tool

The following blog post is from HBS Resources President and Massimo Group coach, Blaine Strickland. I am thrilled to share that Blaine has just launched his first book, Thrive: Ten Prescriptions for Exceptional Performance as a Commercial Real Estate Agent. In today’s...

How to Find Your Specialty with 3 Questions

I am continually surprised by Commercial Real Estate brokers who lack a specialty. All top performers in CRE have a specialty. Yet, those mired in mediocrity refuse to hone in on what they can be awesome at doing. In fact, business owners of all kinds often have this...

4 Ways To Make Telephone Prospecting Easy

I once worked with a commercial real estate brokerage manager who said there were two types of people in the world – those that didn’t like to cold call, and those that lie about liking cold calling. He might have overstated his point a bit, but he does have a point....

Here’s My Weekly Plan for Maximum Results

With our coaching clients, we implement a productivity program - appropriately termed I.P.A.I.D.™. This process allows them to look back at every day and answer “yes” to the question: “Was I paid today?” I also use this approach in planning for my week. Every Sunday...