On today’s episode of CRE – The Unspoken Truth, we discuss Building a Referral Network.
In commercial real estate, referrals are the fuel that drives your business. But they don’t happen by accident, you have to earn them.
Below are Craig’s best practices for building a referral network:
1. Give First
Make your performance bigger than the applause. Create raving fans, one by one. Remember, everyone’s list starts small, all it takes is one referral to make a difference.
2. Make a List
Write down your influencers (the people who refer you deals and you have strong relationships with). A physical list gives you something to track, measure, and grow.
3. Say Thank You
Write handwritten thank-you cards the minute you get a referral, don’t wait until the deal closes. Add in a Starbucks card or something thoughtful. Throughout the process, keep the person who referred you updated.
4. Don’t Be Vague
Don’t just ask, “Do you know anyone I should talk to?” Be intentional. Say, “I saw you’re connected to Joe, can you make an introduction?” Specifics sell!
5. Repeat What Works
Referrals come from everywhere, but if you don’t track where they’re coming from, you can’t repeat the process. Tools like OneSource can help with this.
Bonus Advice from Craig:
When you’re getting your ass kicked (as we all do from time-to-time), go get your car washed, get your shoes shined, and call one of your raving fans.
