Learn how to create a real estate vendor program to increase client referrals from other business professionals.
If you are looking for ways to grow your referral business, look no further than creating a real estate vendor program. Today we are going to dive into the scripts and dialogs you will use when you speak to your trusted vendors. At ICC, one of the core concepts we teach all of our clients revolves around staying in contact with your sphere of influence (SOI) database.
Be sure to watch this video and download the FREE scripts near the end of this blog!
VIDEO: How to Create a Real Estate Vendor Program
Who belongs in your Real Estate Vendor Program?
We’ve talked at length about the service professionals that you must have on your trusted vendor list. But, how do we ask these people to be a part of our Real Estate Vendor Program? Here’s a very simple script you can use as you reach out to these vendors. (For the full-length script, scroll down and download the free PDF.) In this particular example, you’re reaching out to a local attorney.
I have a lot of clients that come to me that need an attorney. They need a recommendation. I’d love to have a good working referral partnership with a Wills and Trusts Attorney, like yourself, that I can start referring clients to. How does that sound?
This is why you must continually reach out to your trusted vendors within your sphere of influence (SOI) database. You are baiting the hooks for referrals and future business. And when you do send a client to a vendor, call them and let them know! Introduce them! Make sure they see that you are bringing them this referral business. Then, you can follow up with this script.
Here’s my plan. I’d like to keep referring clients your way in exchange for you sending clients my way. I’d like to have a professional relationship going forward. Is that okay with you?
Grow your SOI and grow your referrals
Through establishing these business-to-business relationships within your Real Estate Vendor Program, you are doing a few things. You are growing your sphere of influence (SOI), you’re generating more referrals from this new SOI member, which in turn grows your SOI even more. Once you start growing your database like this, you’ll see that you will find more and more opportunities to refer more business to your referral partners.
As a real estate agent, you are constantly asked for referrals for everything from plumbers to accountants. Now, with your Real Estate Vendor Program, you have names on deck. And these aren’t just random names, these are local businesses that you have established a relationship with and get referrals from.
A great opportunity for feeding this referral machine is social media. Specifically, on Facebook, people often make ISO (in search of) posts. Jump on those! Provide your trusted vendor’s name, email, website, or phone number. Tag them!
Add value for your trusted vendors
As we talked about before in our video/blog about using a Real Estate Vendor List, a huge value that you can add to your trusted vendors is sharing your knowledge. Specifically, your knowledge about Google Local Services Ads, Google My Business profiles, and Google Reviews. (Not sure what all this Google “stuff” is? Check out our online course for a step by step guide on how to set it up for yourself.)
The way you can add value here is huge — if you are willing to help people. Realtors are known to be pillars of knowledge and support in the community. All of these new developments with Google provide great opportunities for you to add value to your sphere of influence (SOI)!
FREE DOWNLOAD: Real Estate Vendor Program Scripts
Here are several great scripts that will help you in your conversations with vendors. These are similar (but more detailed) than the scripts mentioned earlier in this blog. You can download them for free by clicking on the button below:
Need more support?
ICC Coaches provide customized, one-on-one support to clients, and create a tailor-made program to help clients reach their goals. If you feel like you’re barely staying afloat or that you can’t seem to achieve sustainable growth, maybe getting an ICC Coach in your corner is the next step. Reach out for a free consultation call!