You know that referral marketing is a powerful way to grow your real estate business. In fact, 80% of people prefer to make purchasing decisions based on the recommendation of someone they trust. But if you are cold calling the people in your network to ask for referrals, you are doing it wrong. A referral TO you really has nothing to do WITH you, beyond the fact that you provide a solution to someone’s problem. So, how exactly do you generate that referral business—without explicitly asking for it?
Stacey Brown Randall is a business growth accelerator and expert in the realm of referral marketing. She is committed to helping solopreneurs, small business owners and people on commission generate referrals without asking, without manipulation or feeling inauthentic. She also hosts the well-known podcast Roadmap to Grow Your Business, and Stacey is the author of Generating Business Referrals Without Asking: A Simple Five Step Plan to a Referral Explosion.
Today, Stacey sits down with me to offer insight around growing your real estate business through referrals, explaining how the failure of her HR consulting firm inspired her to develop the strategy she teaches. She walks us through her 5-step process for generating referral business, discussing how to identify potential referral sources, the proper way to thank people for referrals received, and how to stay memorable and meaningful through a 12-month outreach plan. Listen in for Stacey’s advice around using the right language to plant referral seeds and learn how to execute on your outreach and track the results!
- Stacey’s insight on growing your business through referrals
- Stacey’s experience as an agent in the real estate industry
- How Stacey’s failed business inspired her referral process
- Why referrals are the ‘golden child’ of business development
- How referrals originate when someone has a specific problem
- Why asking for referrals flips the psychology of the process
- Why referrals are ready and willing to say YES
- How to identify your referral sources from clients and SOI
- The proper way to thank people for referrals received
- How to stay memorable and meaningful through outreach
- Why Stacey doesn’t brand gifts to referral sources
- Stacey’s insight around establishing 6 to 8 touchpoints/year
- How to plant referral seeds naturally, using the right language
- Creating a process to execute your plan and track the results
Connect with Stacey Brown Randall
Learn more about Stacey and peruse her free resources at staceybrownrandall.com. Take the Referral Ninja Quiz at staceybrownrandall.com/quiz, listen to her podcast at staceybrownrandall.com/podcast, and take on her 7-Day Referral Challenge at staceybrownrandall.com/7-day-challenge.
Generating Business Referrals Without Asking: A Simple Five Step Plan to a Referral Explosion by Stacey Brown Randall