Only ask for referrals when you deserve them. Most people are lazy and will not give you a referral if you do not ask.
All About You Form
- Indirect way to ask for a referral
- Put down 3 places for potential names
- Generate referrals without having to ask
Loan Consultation
- You’re setting the stage for what’s going to happen
- Getting them excited about the process
- Explain what they’re responsible for “this is what I’m going to do for you, and this is what I’d like in return”
- Close your loan on time
- Close smooth
- Have docs to title 24 hours before closing
- Payment will not exceed what we’ve discussed
- CTC will not exceed what we’ve discussed
- Communicate with you through the whole process
- Call you on all milestones
- Create a 10/10 experience
- What I expect in return
- Once you receive a contract, we’re on a timeline. I need docs returned to me the same day that I request them.
- If I’m knocking this out of the park, can I ask 2 referrals from you. Can you do that for me?
- Tell them how they can refer you
- “Here’s how I’m going to ask – on my Tuesday status update call”
- Everyone likes to be served differently so we’re asking to make sure that we’re communicating with you correctly. Then I’m going to ask you hoe I’m doing, and if it’s less than a 9-10 I’m going to ask you what to change so we can make this experience better for you.
- Once you’ve gotten referrals – don’t keep harassing them about it.
The WOW Customer Service Touchpoints
Loan Approval
- Sending gift to their work
- To enhance your chance of a referral, send something that is shareable. This will open up conversation of who sent the edible arrangement/cookies/etc.
Docs at Title
- Pizza order
- Calling them to let them know about pizza and let them know that they’re done/the process is complete.
- Set them up to give you the answer that you want – lead them in the right direction. “Did we knock it out of the park?”
- Ask them to refer you back to their Realtor. “Thanks I’m so glad to hear that. Would you mind giving REALTOR a call and letting him know that I provided 10/10 service for you? If you don’t let him know, he won’t know and he won’t send me anymore business”
- This will secure your relationship with the Realtor. If they don’t see a difference in sending customers to you rather than another lender – they won’t do it
One word/sentence/small adjustment is the reason you’ll convert or not. It’s all about how you say things/your delivery. If you take short cuts or don’t say it right it won’t work. There is no full proof plan, but there are things that you can do to convert higher. You have to give people CLEAR direction. If you give them to much to think about or to many options it tends to be a worse conversation.
Any good realtor already works with an LO. Most of them aren’t going to switch over at the drop of a hat. We have to create an edge to choose us, and capitalize on it. If it doesn’t feel like a big difference to them – they’re not going to switch over to using you. They need to receive honor about you from the client.
The biggest thing that you’ll be able to do for them is give them BACK a lead. This is what will help you land and retain them. “On average I will give you two deals back on every lead that you send to me” Boom you work together now. Nothing is more valuable to a realtor than more business.
Go to Closing
You are CELEBRATING not SELLING at the closing. You don’t have to be there the whole time, just make an appearance. This gives you the chance to see the buyers and the sellers agent.
CALL the title company the next day. They’re used to annoyed closings, generally no one shows up to a GREAT closing.
- Introduce yourself and ask how closing was with us and our customer
- Ask them if it was significantly different than your other closings
- Ask them if there are any agents they’re working with right now that they’re customers could use a better customer experience that “you could introduce me to” “I could at least team up with them for an event”
Post Closing
- 1st business day after move in day (when they receive the pizza)
- This will be your final ask – it will be for a testimonial
- “nobody will believe me if I tell them that I’m great. They want to hear from my customers how I treat them”
- Make it easy for them – tell them what to expect and send them a link to the platform that you would like them to review you on.
- Get them to acknowledge that they’re going to do it
- “Can I count on you to do this for me?”
On the Final Tuesday Status Update
If they have not sent you a referral – there is another way that they can help you out.
Do they know any:
- Other Realtors
- Homebuilders
- Family law attorney
- Financial planners
- Business Owners/executives/highly influential people
These are going to be your best referral sources. The first thing you want is more clients, but if they don’t know anyone that wants to buy, you want to try to get a new referral source.
The Listing Agent
Use the same process as the agents for the borrowers. You want to provide such a high level of service that it makes them want to work with you. Out perform your competition. Do more than just close on time.
When the contract comes in
- Call them immediately and let them know about your Tuesday status updates
- Communicating directly with the listing agent will also free up TIME for your buyers agent
- Ask these questions up front
- Are there any issues with the value of the property (liens, etc)
- Do you want to be there when the Appraiser comes
- Is anyone going to be out of town the day of closing
- If we can close early, would your sellers want to move up the closing
- Docs at title is when you call your sellers agent and ask for the experience and set the meeting right then and there
- Once the deal is done, you’re off stage and they aren’t going to answer your call. Set the appointment right when you get them on the phone.
You’re looking for the WOW moment – and when that happens THAT when you ask for the referral. “If I do my job awesome, can I take you for a cup of coffee?” Performing and capitalizing makes it exponentially easier to grow.
How to Properly Ask for a Referral
- Cold Call – most common
- Calling someone who doesn’t know who you are and doesn’t know you’re going to call.
- Can you call them and let them know I’m going to be reaching out
- When you’re asking someone else to call you want them to tell the referral
- Who you are
- That you’ll be calling them
- Give then a testimonial about you
- “that way they know who I am when I reach out to them”
- Can you introduce me – #1 in conversions
- Personal introduction
- In person
- You are not initiating the contact – the person can introduce you and then you can take it from there
Every single time you ask for a referral – use this tactic. The referral you get is going to be based on THEIR relationship with the person they’re referring. Ask for the referral, and then wait – Ask them to introduce you, and then wait for them to respond. The first person to talk loses. When you’re asking for the referral source, ask them one a time, and PAUSE to let them answer:
“Do you know any realtors? …pause
Do you know any builders?…pause”
Always try to convert at the highest level first, and then move forward from there. Cold call should be your last ask, but if they’re referring someone still take that. A referral is a referral. Get them on the phone and convert.
1) Set the Expectation
2) Awareness & Creation of Referral Moments
3) How to Ask
1. Set the Expectation
Mr. and Mrs. Seller/Buyer, what sets us apart from our competition is that we spend the majority of our time servicing great clients rather than hunting for new ones, selling many of our homes from those referrals so if we agree to, not only meet but exceed your real estate goals can we count on you for at least one great CCR during the transaction and at least two or more CCRs every year…
Sure 🙂
Excellent, when our RPIs are following up throughout the transaction, they will be asking.
2. Awareness & Creation of Referral Moments
When you hear a positive comment, life event, or trigger word; this should prompt you to ask for a CCR.
EVERYTHING is Trigger Moment: “OMG Mr. and Mrs. Seller/Buyer …..
Created Referral Moments, Trigger Words or Phrases
When you hear a positive comment, life event, or trigger word; this should prompt you to ask for a CCR.
EVERYTHING is Trigger Moment: “OMG Mr. and Mrs. Seller/Buyer …..
Created Referral Moments, Trigger Words or Phrases
- Post Sign Installed
- Wow
- Pleased
- Good Communication
- Everything went so smoothly
- Job transfer
- Engagement
- Appreciate everything
- Thank You
- Accommodating
- We felt extremely care for
- Appreciated the time & attention
- Clear & Honest Communication
- Thank you for the pizza
- First showing
- Great
- Helpful
- Pictures look great
- Your team is so professional
- Job promotion
- Graduation
- Courteous
- I appreciate
- Above and Beyond
- Respected during the process
- This was a painless experience
- You guys added professionalism
- You go the extra mile
- Accepted offer
- Thrilled
- Fliers look great
- Service was amazing
- Empty nest
- New baby
- You rock
- “Team” are amazing to work with
- Stress-Free/Less Stressful
- Sold fast
- You guys addd value
- You went above and beyond
- Thank you for the gift
- WOW
Suggest Trigger Events
- Coordinating showing schedules for out of town clients, eliminating stress
- Diligent and consistent follow up with showing feedback
- Consistent follow up with prospective clients who are a ways out from listing
- Assisting clients with home search for wide or narrow range of criteria, showing we know the market and can assist in their home search.
- Reaching back out to clients who’ve not been able to sell at the time, showing our follow up and that we still keep them in mind for the future.
- After photos/brochures/marketing email look amazing
- After the pizza parts
- When they receive the Wow labels or random gifts
- At settlement when they are singing our praises I ask for the referral.
- ANY “WOW” we sold quickly, or made that easy, or surprised them….
3. How to Ask
Broad, Very OPEN Requests
Who are the next two people you know that I should be having a conversation with about real estate ….
They may not even be ready to buy or sell yet…
We recently helped a client get out of a lease to buy the home of their dreams… We have many options most people don’t even know about to help great people like you…
The GOLD is to ASK & SHUT-UP ~ Whoever Speaks Next Loses!!
Role-Play with the Team (they have to be calm comfortable with their own phraseology)
CCR Contests ~ the Best Money you Spend
Best Practice: Repeat back the positive comment in a question form.
Client : “Your professional photographer did an amazing job photographing our home – we LOVE the photos!”
Thank you, having the highest quality photos is very important to the Jim Bass Group. Who is the next person you know that could benefit from having high quality professional photos?
Client: “Wow, I can’t believe they accepted those terms (negotiating a sales contract or home inspection)”
Congratulations, negotiating the best terms for our clients is very important to the Jim Bass Group who are the next two people you know they can benefit from the same level of negotiating?
Client: “Thank You for helping defend our position on (terms counter, repair issue, appraisal) “
You’re Welcome, negotiating the best terms for our clients is very important to the Jim Bass Group who are the next two people you know they can benefit from the same level of defense tactics?
Client: “I can’t thank you enough for XYZ”
“You’re so welcome! Our favorite part is exceeding our client’s expectations. Who are your next two friends, family or coworkers who deserve the same level of real estate professionalism?
Client: “You Guys Were Awesome”
The best thank you we can receive is the chance to help another great person just like you, find their perfect home. Who are the next two people you know who we could help achieve their real estate goals?
Client: “I know you’re so busy, but thank you so much for all the time you’ve put in…”
We’re never too busy to help! I’d be happy to help anyone you know with the same level of commitment. I remember you mentioned you had a coworker and a woman from your book club also looking in the area, how will you connect us?
Client: “I can’t tell you how excited we are to have this home under contract”
Now that you’re under contract everyone you know will ask “how’s it going” in those moments can we count on you to refer us two great replacement clients just like you, by specifically telling them you will have me/us contact them directly?
Client: “This has been such a smooth process”
I’m so glad! Our goal is to make this a smooth process to get everyone their dream property; I know in my heart of hearts, there are only a handful of agents that care as much as our team does about providing you exceptional service. How can you connect us with your friends, family and coworkers who will benefit from the same level of real estate expertise?
Client: “I can’t believe we bought our first home!
When can we co-host your Housewarming Party to explain to all your friends how we make this a smooth process to get everyone their dream property?