In this article, I will share how to get real estate referrals at no upfront cost in just seven steps. It will help you keep your pipeline full all the time with qualified buyer and seller leads.
As you know to get quality leads, you have to spend some money, but sometimes it is not mandatory to get referrals from qualified sources if you follow this proven strategy. Here, you have to work harder than ever before. It’s all about networking if you want a good quality referral.
How to Get Real Estate Referrals at No Upfront Cost
But first, tell me do you want a random lead or a quality lead? I hope your answer would be quality leads that will convert, not that lead or referral that will just waste your time. You don’t want that.
No matter how easy these referrals are, you must verify them with your quality metric list to know which one you should focus on more and which one will most likely make a deal with you. So here are those seven steps to getting real estate referrals at no upfront cost.
Table of Contents
1. Pay the Fees at Closing
It’s a popular way that many people use when they get a referral. You will only pay when you close the property deal. You may have seen this strategy online. Agents who offer a partnership with their affiliate program follow these steps when a lead gets qualified or closes, they will pay you.
Some online companies provide property leads and referrals with no upfront cost, but they have qualifications you must meet. I can not think of any other way than this to generate real estate leads at no upfront cost. But that’s not all I have more ways for you to get those referrals.
2. Host Open House for Other Agents
You may think that open houses are for clients. But no, you can host open houses for agents who have a good network of influence in the market. You will have a huge referral opportunity if you continuously host open houses and invite other agents to chat. It may not work on the very first day, but in the long run, your referral pipeline will start to fill as those agents will become friends and deliver leads.
3. Get Referrals from Friends and Family
Let your friends and family know that you deal in properties and can help their friends to get a house or sell it. That will make them proud in front of them and bring them closer. But you must be the person they can trust, or else this referral method will not work.
Trust is the primary thing in this real estate lead generation at no upfront cost. You can also offer them some commission if they get a good lead. It is an old method and still works to this day. Go for it and make your pipeline full all the time.
4. Post Regularly on Social Media
Use shorts and long videos to educate your clients and build a following and time on time to promote your business. But you must be regular on them as most videos will lose their rankings or recognition in a few days if it’s not too engaging.
Posting regularly will keep you in front of your probable purchaser and trigger them to send a DM, phone call, or a small comment on your videos or posts. It’s a long process, but it will cost nothing if you create all this content yourself.
5. Attend More Meetings
As you host open houses, other agents will also host open houses for people like you. Go there and network with more agents and probable purchasers. You also attend other city and country meetings related to your business and try to get networking opportunities. Doing this on regular basis will help you establish a strong presence in your community, which will build trust in the eyes of agents and clients.
6. Use Craigslist Website
Craigslist website lets agents post their property listings at no cost. Take your MLS listing properties and post them directly to Craigslist, Facebook marketplaces, and other free online platforms and get real estate referrals at no upfront cost. It’s all about getting exposure and letting people know what you have. In the long run, this marketing will get you leads. It’s not quick but will help you in the referral process.
7. Use Your Network Cycle
Now, it’s time to use your network and ask for referrals. It’s not always people will recommend you. But sometimes you also have to ask for it. People don’t always remember anything about you, who you are, and what you do unless you are close friends. Asking for referrals from your friends will help your leads that may not come to you. Just don’t be shy and don’t beg, but ask for it.
So these are the seven steps to get real estate referrals at no upfront cost, but it comes at a cost of time. You have to wait for months before a single lead comes those that pipeline. If you want to build a strong business, use these lead generation methods and make your pipeline full all the time.