SkillSET Blog
Advice For Pros · June 03, 2020 · AUTHOR: Udi Dorner

Why a Referral Agent Network is Crucial for Business

 Gone are the days of keeping track of your contact list in an old-fashioned rolodex, address book, or Blackberry. In the new age in which we rely on technology to keep us connected, networking via social media has become an effortless and subconscious norm. With the ability to form a new connection with professionals from any industry with the click of a button, there’s no reason for networking efforts to sit on the back burner as you work to build your business. There are countless websites and applications for you to grow your professional and personal referral agent networks with ease. One of the most prevalent sites for making professional connections is LinkedIn, which allows its users to interact with other professionals from any industry. However, this platform is not only for adding other professionals as contacts in your address book. With messaging capabilities and other tools to help you connect, you can build long-term business relationships to strengthen your professional referral agent network. Publishing relevant content to thousands of connections across the globe in the form of articles and wall posts will allow you to build your credibility as an expert in sales, real estate, tech, or any other industry in which you conduct business. As a real estate professional, building a referral agent network of real estate agents, brokers, lenders, title officers, and every other position in the industry is crucial in order for your business to expand. Whether you network to gain insights from industry experts, search for potential opportunities, or strengthen existing business relationships, you will advance your career as a real estate professional when you set a priority on networking efforts. Earn credibility within your field by following and interacting with other real estate professionals on LinkedIn and by publishing content that brings insight and value to other members of your industry.  When establishing your referral agent network of real estate professionals, there are endless opportunities available to help you grow your business. Some pros of building your real estate network include:

  • Nurture your business - from boosting a current listing or open house, confirming your availability to collaborate, or promoting your service offerings.
  • Identify best practices - give and receive advice and insights about successful business strategies.
  • Stay on top of industry trends - even if you don’t often publish content, following other industry professionals or businesses can become your number one source for news, updates, and trends.
  • Strengthen existing business relationships - stay available and relevant to your existing business partners by using networking tools to interact and communicate with your connections frequently.

No matter your goal, it’s important to follow networking best practices to establish yourself and your business as a reliable and trusted connection, thus encouraging other professionals to connect with you. Consistency is key when publishing valuable content in the form of professional advice, industry trend updates, and business services. Try to update your referral agent network of professionals by posting content at least once per day as a steady source of important and relevant information to your connections. Also, be sure to interact with your connections through post comments, tags, and messages so that you are known to be readily available within your network. It’s also important to remember the separation of personal and professional connections. While personal and professional connections may act as one in the same in some situations, be sure to focus on publishing content that is relevant to your professional network to keep your connections engaged. However, this does not mean that you must talk strictly business at all times - adding a personal touch to your content, posts, and conversations will help you stay trustworthy and personable, making potential connections more comfortable to reach out.

Once your referral agent network has been established, you can narrow down a group of real estate professionals to build a team of agents, brokers, lenders, title officers, interior designers, contractors, architects, and more. Networking platforms like SetSchedule allow you to stay connected with your team to collaborate about leads, opportunities, open houses, property listings, investors, or anything else your real estate business works on. Expanding your team to include professionals in a variety of positions within the real estate industry will open the door to an abundance of opportunities for your business, as each member of your team may be able to bring a specific skill or service to your team. For some, the thought of reaching out to a total stranger to establish a new connection may seem intimidating. However, it’s important to remember professionals join networking platforms for that exact reason - to connect with strangers in order to build a professional network and build business relationships. While it may take some time and energy to fully establish your network and gain reputation, connecting with other professionals within the real estate industry is worth the effort in the long run, as you will build long-lasting personal and business relationships.   

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  • Frederick Watkins, says:
    Very informative article . I think ultimately, referral marketing is most valuable when you're able to easily amplify results without also proportionately amplifying internal resources. Thank's
  • Jeffrey Ahn says:
    This is a great post, here have listed lot’s of point about the referral program, these referral program article is awesome. Thanks for sharing.
  • Shim Ching says:
    A lot of effort and detail about networking referral. In your post makes for good readable info! keep it up and thanks.. Great Sharing
  • Tom Rosanelli says:
    Thanks for this article setschedule. Any recommendation on how to do referrals for a service-based business?
  • Charles Hsu says:
    Well Said Setschedule. Here I've some opinion like people don’t make as many referrals as they intend to for a variety of reasons. A referral program helps make their mind up with a tangible reward for referrals. By the way this article so helpful.
  • Lindsay Hunt says:
    Hi the simple tactics would be appreciated thanks. I really like this one, the step by step guide is very easy to understand. Good post about "Agent referral system".. Good day
  • Mason Louisse says:
    Great article you have here! Yes, building a referral network is one of the most powerful strategies to grow. It was amazing explanation about referral networking system.
  • Bernard Nusbaum says:
    I would definitely bookmark this. This is like the easiest guide to follow online. Great point about "referral agent networking". Thank you so much setscheudle
  • James Policaro says:
    Great post setscheudle, I think this is helpful for real estate agents. These tips are really important for real estate agents. I share this post with my friends. Thanks!!
  • penny roth says:
    I appreciate this information about why every real estate agent needs to referral system. I like what was said about how the customers being able to reach out and find specific information through using referral network. It would be best if the system is user friendly. Thank you so much for sharing this kind of article.
  • Charlie Parrish says:
    I read your full artical and it was very informative, and helped me a lot as a real estate agent. Have a great day.
  • Victor White says:
    The post is really knowledgeable. Buying and selling a home is an exciting experience for anyone using referral network. It goes right, by working with the right real estate agent. Your idea of spreading knowledge via writing blog is great.
  • Marc Dubick says:
    Right setscheudle, well said about the referral network. Most agents are more concerned about finding their own clients than referring someone — they make significantly more money doing so. However, if the opportunity for referring an agent comes along, it’s definitely a good point.
  • Megan Schweitzer says:
    Very helpful and best article that help Me as a real estate agent to find my next lead from the best sources. I am very satisfied with the every single point. Please keep it up.
  • James Roembke says:
    Helpful article and I like the every point, specially " Real Estate Networking and referral network" . Professional referral networks have some kind of web platform in place that makes referring and being referred easy.
  • John Zwirzina says:
    Good point about real estate agent networking. The referral business in the real estate industry does make everybody satisfied: the client, the real estate agent, and the real estate referral agent networking. Thank you friend for sharing the important article.
  • Mark Caldwell says:
    Wonderful article.Referral agents work as real estate agents' agents. A good referral agent must have a pool of select agents in the most popular markets. By the way thank you very informative blog.
  • Geo Canuso says:
    Great information about referral networking service. Basically, a referral network collects individuals or organizations that provide referrals. Official referral networks include companies within related industries.They band together to provide referrals to one another
  • LouAnn Kenney says:
    Thank You so much for great sharing. Here I learned something new about real estate networking.
  • Leo Addimando says:
    Yeah Great. I agree that every point. Real estate agents live by referrals. Many claim that over 70% of their business comes from referrals. Since the real estate market is so competitive, it pays to have an agent referral network to grow business. Thank you so much for this blog.
  • Veronica Bocian says:
    Nice article about referral program. Incredible article! Thanks for the inspiration!. I would like to see more about this kind of post.
  • Matt Williams says:
    Thanks again, very informative article about referral network. Thanks for sharing!
  • Joseph McBride says:
    Great piece of writing, I really liked the way you highlighted about " Real Estate Agents" some really important and significant points. Thanks so much, I appreciate your work.
  • Travis Lauchman says:
    This is an excellent post, not only because of the great detail in defining the referral network and real estate agent networking concept, but because you tell us what to do with it too. That’s the part a lot of people leave out, so thanks for setschedule that.
  • Colleen Gosnell says:
    Great post. Thanks. Very interesting idea about realtor referral network. Thank you for this memorable marketing ideas.
  • Chris Seitz says:
    Thanks for sharing the great blog.... I found it very informative, Meaningful, beneficial to real estate networking services. keep up it.
  • claire ruben says:
    Great article . I agree the every point that you've mention this blog. A referral network is a wonderful thing to have. But we shouldn’t think of it as a shortcut. I think we need to focus on building genuine connections and providing value to your target customers. Anything contrived or forced will be less likely to benefit our business in the long run.
  • Evan J. Blaker says:
    A referral network is very valuable for it helps you to find new leads. Plus, it can help promote more. By the way here, I learned something new. Thank you Setschedule for the awesome article
  • Milan Deborew says:
    Well Said. Very nice and interesting article about the referral system. But i think the most salespeople talk about real estate networking more than they actually do it.

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