GENERATING OUTGOING REFERRALS



Ideas for Generating Outbound Referrals

1. Overview and Sales Associate Awareness:

a. Referrals may provide a steady source of income and may lead to other listings and sales. Once secured, outbound referrals require minimal time and effort by the sending sales associate.

b. Referred customers who are properly serviced provide excellent word of mouth advertising.

c. Remember outbound referrals do not have to come from your own locality. It may be a local resident moving out of the area or someone who owns property elsewhere and desires to sell it.

d. Only quality outbound referrals should be sent to eliminate wasted time and energy on everyone's part. Remember the Golden Referral Rule: Refer unto others, as you would have them refer unto you. "Quality in, Quality out”. Quality referral is:

(1) Someone who has plans to move to a specific city within a specific time frame

(2) Someone who WANTS to be referred

(3) Someone who KNOWS they are being referred and have given “Permission” to be contacted

(4) Someone who has been personally contacted about his or her needs

(5) Someone who is willing and able to buy/sell real estate

(6) Someone who EXPECTS to be contacted by a CENTURY 21® office

(7) Someone who does not have a prior commitment to another CENTURY 21 office in the receiving area

e. Make sure those in the relocation department have been properly introduced to all managers and sales associates and that there is a clear understanding of how the relocation department fits into the company’s overall business plan and goals and growth targets.

(1) The relocation director should be viewed as part of the total management team.

(2) Be sure all sales associates know your company’s policy and the CENTURY 21 System’s procedure on sending outbound referrals. This should be addressed at all new sales associate orientation sessions.

3) Emphasis should be placed in training on using referral marketing when cold calling. Be sure to also comply with Federal/State laws concerning the “Do Not Call” list.

f. Many consumers call in to a CENTURY 21 Office directly requesting assistance in another city.

(1) Review telephone procedures to be sure all such calls are captured during floor duty or transferred to the relocation department immediately.

2) Be sure that the 800# does not go through the front desk but only to the relocation department.

g. Set a referral goal for the office as a whole and for each sales associate.

(1) Decide on the number of outbound referrals that your sales associates could realistically generate in a month.

(2) Get their commitment to sending referrals, setting goals, and then evaluate their progress during the year

h. Include a discussion on outbound referrals as part of the associate’s quarterly review with the broker/manager.

1) Show the sales associates how one referral per month could equate to extra, discretionary income.

2) Example: Create a chart that shows by sending one referral per month, assuming 25% of them close, how many extra dollars could be earned. (see Referral Budgeting Worksheet at end of handout)

3) Use the Referral Goal Sheet provided in the Relocation Resources Section, under Relocation Department Set-up and Procedures page of , to help track success.

Example:

Have the sales associate fill in the goal for outbound referrals they can send each month

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Require a minimum number of outbound referrals per quarter to be eligible for incoming referrals. Develop a philosophy of “You have to give, to get”.

Referrals may also assist in recruiting.

During the pre-licensing phase, soon to be new sales associates could provide referral leads to the relocation department.

Payments on closed referrals could then be paid to the individual once they become licensed and affiliated with the office.

k. Repetition is the key. Have the sales associates briefly talk at a sales meeting on how

they captured their outbound referral.

l. Referral assistance should be offered at every listing presentation.

Use a rubber stamp next to the signature line of every listing agreement that says, “Have we offered you relocation assistance?”.

Talk about our national and international referral network – the largest in the world!

Hold a pizza “cold calling” night in the office – Call FSBO’s and offer relocation assistance in destination city. Be sure to comply with the Federal/State “Do Not Call” list effective October 1, 2003.

Offer services to those seeking vacation homes/condos in another location -Consider the marketing tools available with CENTURY 21® Recreational Properties

Offer services to the Retiree market – people may be downsizing and relocating to where other family members live. Think of using the MatureMoves SM program.

Have the relocation department farm neighborhoods with a high turnover specifically offering relocation assistance. Referral fees could provide income to the department and overrides to the director/coordinator.

THINK REFERRALS - THINK RELOCATION - THINK BUSINESS.

Ongoing Office Support

Recognition

If your office has a newsletter, recognize sales associates sending referrals in it.

At annual award functions, recognize sales associate who sent the most and the one who had the most closings on outbound referrals.

Present checks for closed outbound referrals at office meetings. Make a big deal out of it with balloons and cash taped to the ribbons, money tree, etc. Seeing cash paid to an associate has more impact than a check.

Think of providing phone decals on the handset that say “Have you called your outbound referral client today?”

Have embossed stickers for the back of business cards that say, “Know anybody moving?” Have a world globe on the sticker.

Reward agents with a $25 cash prize for notifying the relocation department that an outbound referral is closing before the receiving agency does. This encourages the associates to stay in touch with their outbound referral.

Commission splits – Consider increasing the associate’s split as the number of closed outbound referrals increase. For example: 50/50 on the first one, then 75/25 on the second, then all to the agent on the third, then back to 50/50 on the fourth, and so on.

Offer free advertising in HOMES Magazine or similar book for agent who sent most qualified outbound referrals in a month

Have screen saver on office computers say, “Have you sent a referral today?”

Recognize accomplishments through fun gifts, candy. Check out “Baudville – Putting

Applause on Paper” that provides unique gift options.

i. Have a Coaching Session involving top referring sales associates each day at lunch over

a one-week period – Call it “Lunch & Learn”.

3. Prospecting for Referrals

Getting business – remind them to:

Keep eyes and ears open. Referrals are everywhere.

Let absolutely everyone know you’re in the real estate referral business and can assist them anywhere in the U.S. and overseas

ASK for the business

Prospects could be

Relatives

Spouse’s relatives and Spouse’s co-workers

Builders

Current sellers whose homes are listed with sales associate

Neighbors

Friends near and far

Children’s teachers

Fellow club members

Recreational partners

Members of your church

Fellow civic leaders

PTA members

Lawyers you know

Bankers and loan officers

Insurance Agents

Doctors/dentists

FSBO’s

Friends/family of your children

Past clients

Open Houses

Moving Van companies

Military persons

Corporate clients

**Special note: There are three classes offered free every month, online via the Virtual Solution Series (VSS), that focus on the creation of outbound referrals:

eReferral – for everyone

Generating Outbound Referrals – Brokers and Relocation Directors

Generating Outbound Referrals – Agents

Encourage your sales associates to enroll today and begin implementing 3-4 key ideas to build their referral opportunities now.

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