This is a question that plagues both real estate professionals and people looking to buy or sell their home. If I’m a realtor, how do I get people to sign with me? If I’m looking to buy or sell my home, how do I find an agent that I can trust and has been successful? We searched around for answers to these common questions, and found some good answers thanks to the National Association of Realtors.
According to data they collected in their Profile of Home Buyers and Sellers, people really do rely on referrals from other people that they trust in order to find an agent. Or, they use an agent they have used before. In fact, up to 54% of buyers and 64% of sellers found the agent they worked with either from a referral or from having worked with them before. Because of this, many potential clients only contact one agent while choosing someone to work with. In addition, many of those screened said that the qualities that they most frequently look for in an agent are honesty and integrity, so they are likely to rely on the word-of-mouth reputation for that agent.
Many agents reported the same data from their side of things, saying that 42% of member business is from referrals and repeat clients. This figure only increases as the agent’s experience in real estate increases, jumping to 64% for those with 16 or more years of experience.
What this all boils down to is, make sure to nurture the relationships that you already have and you might find yourself with new leads in addition. Clients will be impressed if you treat them like they matter, and that makes them that much more likely to return to you for future business as well as refer their friends and family to you.