How To Turn Prospects Into Referral Sources

Most people only think about lead generation when they hear ‘real estate farming’.

I mean, it makes sense. The whole idea behind farming is to close more deals and turn prospects into referrals. But if you’re not concentrating on relationships exceeding those initial deals, you’re missing out on a lot of potential deals in the future.

Keep reading to learn how you can convert your prospects into the biggest supporters for your business.

Provide value in your farming outreach

how to turn prospects into referral sources

It doesn’t matter if you’re farming with postcardscustomized magazines, or targeted Facebook ads—in order to make a lasting impact, you need to offer content that enhances your prospects’ lives and turns prospects into referrals.

Of course, you need to dedicate some of your messaging to what you actually sell (houses – duh), it’s essential to keep in mind that there are a lot of other agents out there. Even if you’re lucky enough to land a listing, there’s no guarantee your clients will remember you down the line. You need to work to stay top of mind by offering value.

For example, let’s say you’re sending custom magazines once a month to everyone in your farming area. You can guarantee your messaging really resonates by including a list of community events for that month, helpful home renovation tips, or even a local community giveaway. When your marketing really stands out, clients will be that much more likely to remember you after closing.

Connect with your prospects on multiple channels

The key to successful farming is consistent communication. If you’re running Facebook ads, you’ll do better when you retarget your prospects and reach them on multiple occasions. Facebook Pixel expands on this idea by connecting you with prospects on multiple platforms—Facebook, Instagram, and the web.

Luckily, you don’t have to spend a fortune on Facebook ads to reach prospects in multiple places. You can also encourage people to connect with you by offering unprecedented value on multiple platforms.

For example, you could send a magazine with a comparative market analysis, and then encourage recipients to email you for a free home estimate or dinner on you! When they reach out to you, you now have their email address and can reach them in that way. They will likely go to your website to see who you are first. That’s when your Facebook Pixel comes into play again. You sent them a magazine, they then decided to check you out on the web, and now your ads will follow them on Google, Facebook & Instagram.

Every time you connect with a prospect in a different channel, your prospect gets to know you a little better. You’re establishing rapport and nurturing a relationship. Do this while contributing outstanding service and your prospects will not only trust you—they’ll come to view you as the only agent they should use, as well as their friends and family.

Stay in touch after the sale

Consistent communication is not only important during the farming stage of your sales cycle. It’s also the solution to repeat sales and an abundance of referrals for years to come.

Sure, you’re farming to keep your pipeline full of qualified leads. But you also want to formulate a business where transactions will grow referrals.

The way to do this is by sustaining strong relationships with all your clients. 

They’ll unquestionably know many people who will need your services in the future. When a friend, family member, or colleague needs an agent, satisfied clients will be downright excited to tell them about the professional who went above and beyond for them.

And – when you’re following up consistently, those clients won’t need to do a lot of investigating to uncover your name and contact info. They’ll easily pass your contact information to the people who can benefit from it.

How to stay in contact:

  • Reach out via phone on milestones (birthdays, holidays, the anniversary of buying a home)
  • Visit in person with a modest gift
  • Mail them an item of value each month, like a customized community magazine
  • Stay connected with them on Facebook & Instagram
  • Email relevant articles about the market and home improvement tips

The potential is endless here. The purpose is to take a natural interest in the lives of your clients. When you do this, they become invested in your success. That is how your farming prospects can turn prospects into referrals and local advocates for your real estate business.

Danielle Repasky

Danielle Repasky

Dani is a passionate, cross-functional, creative, and results-driven marketing and design professional with over 8 years of experience across multiple platforms including websites, email, mobile applications, and web applications. She is a firm believer that data should drive decisions, but with creativity to support it.

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