Reviews & Referrals

How Can You Build a Referral-Based Business?

If you want more referrals for your business, trying going NUDE.

 

There are two parts to building a referral-based business. The first is to do an incredible job and provide an amazing experience. The second is staying top of mind even after your clients go to closing.

Part One: Delivering an Incredible Experience

Remember the acronym ‘NUDE’ (yes, you read that correctly):

N: Novelty. This is what makes you unique or different from your competitors. It can be as simple as being incredibly responsive, fun, knowledgeable, or having lots of good testimonials from past clients.

U: Utility. This refers to whether you help your clients solve their problems. Did your services take the stress off their plates?

D: Dependability. Are you dependable and consistent? Do you show up on time and dress professionally? Can clients rely on you to provide information and answer their questions?

E: Economy. Did your clients get their money’s worth? Did you earn your commission by helping manage the transaction and getting them a good deal?

For each of these traits, grade yourself on a scale of 0 to 100 and then add your scores together (the maximum score being 400). On this scale, 315 is the tipping point. If you have a score of 315, nine out of 10 clients are likely to give you a referral. Compare that to a score of 300, where only one out of seven clients are likely to refer you. That’s a huge difference! In order to get more referrals, remember to make yourself as NUDE as possible (again, you read that correctly).

Part Two: Staying Top of Mind

Let’s nerd out: We have something in our brains called the reticular activating system. Essentially, that’s the gatekeeper of information, where information is either deemed important or unimportant. Let’s say I’m in the market for a brand-new Jeep. After the idea of buying a Jeep becomes important to me, I’ll start to see them everywhere—driving down the street, in commercials, etc. That’s the reticular activating system at work: Since Jeeps are now important to you, you’ll begin to notice them more.

To get more referrals, remember
to make yourself as NUDE as possible.

Real estate agents can take advantage of the RAS response by staying in touch with their database three or four times per month. That way, whenever people think of real estate, they’ll automatically think of you. At City Chic Real Estate, we send a monthly postcard, an email newsletter, and quarterly gifts out to our database. In addition, agents do direct outreach, be that through direct messages on social media, texts, phone calls, or pop-bys—whatever they feel is appropriate for a given client.

So as a recap: To become irresistibly referable, you have to deliver an incredible experience and make sure that you’re staying top of mind. Then, you can just watch the referrals roll in.

If you have any questions about today’s topic or another aspect of your real estate business, don’t hesitate to reach out to us. We’d love to help you.