The real estate industry is highly competitive and with so many realtors saturating the market, clients have a lot of choices when it comes to selecting a realtor to assist them with buying and selling their home. One of the best ways for realtors to expand their business is through referrals. Most of an agent’s business comes from referrals and past clients. With so much relying on these referrals, real estate agents should focus on ways to improve and increase their referrals. Here are a few ways that real estate agents can use referrals to grow their business.

Go Above and Beyond for Your Customers

Once your client has signed on the dotted line and closed on their house, you might think your job is done. Not so fast! The best realtors understand that their relationship with a client doesn’t end the minute the deal is closed. Rather, they maintain that relationship by sending the client helpful content  and information even after the deal is done. This might mean sending the client homeowner tips, a list of reputable service workers, or fun and interesting information about happenings in the area. Some realtors even thank their clients for their business by giving them a housewarming gift or sending them a gift card. Realtors who go the extra mile to build a rapport with their clients are increasing the chances that those clients will refer them.

Build Relationships with Other Industry Leaders

The real estate business works hand in hand with a number of other industries to close a deal. From mortgage lenders and brokers, to housing inspectors and construction companies, you and your customers will be interacting with numerous other professionals during the course of the buying and selling process. Therefore, it is prudent for realtors to build relationships with industry leaders in the area. Not only does this improve your client’s experience by having a list of trusted recommendations on hand, but these same industry leaders will in turn add you to their referral list as well.

Incentivize and Reward Referrals

Create an incentive around your referrals like offering some kind of reward. Rewards could be anything from gift cards to a local restaurant to cash rewards. Let your clients know about your referral incentives and use this system as a way to increase new leads and reward customers for their business.

Referrals are a critical part of expanding your real estate business so it’s worth your while to spend some time thinking about how you can improve and increase these referrals. Focus on how you are marketing and communicating with clients and industry leaders and look for ways to strengthen these relationships. The stronger these relationships, the greater your chances of getting a referral.