Referral Strategy Ideas in Commercial Real Estate Brokerage
In commercial real estate brokerage, the referral process is of high value when it comes to finding new people to convert as clients and work with over time. Always ask the direct question about referral opportunities when you are working with property related people.
(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)
Remember the linkages between sales, leasing, and property management. Be prepared to talk across all property types and all professional services. A referral opportunity can be within a property type, a property service, a business category, or a location.
Tune your approach
Are you tuned to the opportunities and advantages of referral lead generation? As the local property professional, ask the questions in the right way and at the right time with the right people. Every meeting, telephone call, conversation, and relationship can be enhanced through referral questions and lead generation.
How many referrals to degenerate in the last week? Think about the following situations and circumstances in your business activities over the last week:
- A recent property inspection – when you undertake a property inspection, always remember to ask the question about other businesses and other people that the person you are connecting with may know.
- A completed property sale – a successfully completed property sale will be a good time for you to talk about other people and other places where property needs may be active.
- A completed a property lease transaction – many tenants interact with other businesses and business people. Explore those relationships with all your tenants and leasing activities.
- A meeting with a client or prospect – through every meeting and contact process with clients and prospects you can ask about leads and contacts elsewhere.
- A telephone conversation – if you are already known and connected with a group of people, that familiarity will allow you to seek referrals across the telephone in most conversations. Ask the question; you never know where it will take you.
- Community service groups that you interact with – don’t forget to explore the business relationships and the personal relationships you have with community service groups locally.
When you look across these issues and opportunities around you over the last week or so, there will have been relationships and extended referral opportunities to be expanded on and opened up. Sometimes we tend to forget the bigger picture when it comes to this simple and yet proven business strategy.
(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)
