Last week I had the honor of teaching a continuing education class for real estate professionals about the process from contract to close, and in that discussion, the topic of setting healthy expectations for referring potential business came up. While it’s been a basic practice of mine for years, I realize now not everybody does these things during their appointments.
Frequency Illusion
Remember the last time you bought a car and suddenly it seemed like that make and model was everywhere on the roads? It’s not likely a billion of your cars suddenly flooded the market, it’s more that your brain has been temporarily trained to seek familiar things and since the car is new to you, your little noodle is excited about it and thinking about it and subconsciously looking for it. The same rings true for most people and most experiences. Haircuts, clothes, job changes. Whenever something significant is happening to you, suddenly you’re aware that you’re not alone and your brain is hyper-vigilant, picking out those familiar things and people as much as it can because there’s comfort and security in the familiar.
Now consider someone who has made the decision to move. Sell their home or buy their first one. Last week, prior to making the decision, someone in their office cafeteria may have mentioned their own real estate journey in passing and that person might not have noticed at all because their brain had yet to wire itself toward seeking that familiarity. This week, however, after making the decision to move, that person is now thinking about it, imagining it, and talking about it with their friends, their family, their neighbors, and colleagues. The little magical synapse in their brain is now firing differently, and if someone in the workroom cafeteria starts talking about buying or selling a home this week, their ears will perk up and engage. It’s the familiar we seek, and that other person in the office now has something in common with our protagonist.
Turn Your Clients Into Bird Dogs
Most consumers don’t understand that you rely on their referrals for your business to succeed. So tell them as soon as possible, preferably during your initial presentation. Here’s how you’re going to do it:
- Outline your value proposition with them and explain how you intend to knock your socks off.
- Then you’re going to put a bow on it: ” Most of my clients refer at least four people to me within a year of closing on their home, so before we go any further, please tell me who you know that is currently in need of help from someone like me?” Wait for a response. It will likely be something along the lines of: “I can’t think of anybody right now,” and that’s totally okay! You’ve planted a little seed in their brain and whether they’re conscious of it or not, they’ll now be on the lookout for you. Thank them for thinking about it.
- Next, you’re going to tell them that you’ll be asking them on a regular basis who you should connect with, and in turn, you’ll be happy to connect them with anyone they need to know for their own needs for their home or even for their own business and social needs.
Here’s why this is such a magical nugget: at this point, going forward, you and your client are a team not only on their real estate journey, but also in building your business.
This one phrase sets them up to understand that they now have a job to do, too, and nobody wants to be below average. Their brains are already wired to seek out those leads for you, and now they know what to do when they find those familiar people: connect them with you!
You’re not done, however. The only way this is going to work for you is if you follow through with outstanding service. Don’t just meet to sign the paperwork, take your time with a thorough needs analysis. Set healthy and clear expectations about timing and communication. Be the dot connector and lead by example: offer to return the favor if they have networking needs for business or even for their own personal lives. Make them feel not just seen, but heard. Don’t forget to follow through with your promises, especially the one you made about asking again and again for referrals. They’ll not only expect you to ask, but you’ll feel less cringy asking. This new expectation will never expire so long as you continue to hold up your end of the bargain: you’ll deliver outstanding service and you’ll continue asking for referrals.
When do you ask for referrals? I’m so glad you asked and the answer is quite simple. You’ll ask for referrals at any point during the transaction and you’ll continue to do so long after closing. Keep the communication going and at any point you see they’re pleased, ask them. Any time they’re happy with the next steps or glad you’re on their side because you helped them climb over some obstacles, ask them. After an inspection, after an appraisal, after a weekly update, after a final walk through, after closing… you get my point. They’re expecting it so do it. You won’t regret it.
Look, a consumer’s real estate experience can be very stressful for them, so it’s up to you, the professional, to help them navigate the process as simply as possible while enabling them to make the most informed decisions they can make during one of the largest financial transactions of their lives. These are people. Humans. And this is a human experience. If you always remember to put your people first, you’ll naturally crush it in life and business.
As always, it is an honor and a privilege to be in business with each and every one of you.
Yours in Success,
Coach Lins
