Author: Marci Sepulveda

How to build your referral network

How to Build Your Referral Network with a Newsletter or Blog

Marci Sepulveda Leave a comment

As any real estate agent will tell you, referrals from past or existing clients can be a great way to build and expand your business. Once you’ve closed the sale, you have a great opportunity to cultivate an ongoing relationship that can be not only personally rewarding, but professionally rewarding, as well. So how to build your referral network, then?

Positions You as the Local Go-To Expert

You’ll want to stay connected with your clients, positioning yourself as the local go-to real estate expert, prompting your existing and closed clients to eagerly send you referrals and turn to you to represent them in their next sale or purchase. 

But how do you best keep in touch with your clients? How do you walk that fine line of being informative and helpful — without being intrusive or bothersome? One of the best ways to maximize your client referrals is to develop a referral program. And one of the best ways to get the word out about this program is through your newsletter or blog. Here’s what you need to know once you begin generating leads through these practices.

Agents who embrace this kind of content marketing can simultaneously grow their businesses and distinguish themselves as a leader and innovator in their local market, and in the industry as a whole.

Stay Top-of-Mind with Effective Promotion

Once you have your newsletter or blog in place, you need to alert your customers. And from there, it’s all about promotion. Smart real estate professionals know to consider multiple avenues of promotion to remind your customers of your newsletter or blog — and add calls to action (CTAs) for clients to sign up to keep in touch at every touchpoint.

Add a CTA to your email signature, directing contacts and clients to sign up for updates to new posts or to be added to your newsletter mailing list. 

Why Real Estate Professionals Should Blog

Let’s break down the tactics on how to build your referral network with a blog, and why they work so well at it. Listed below are three practical and specific outcomes. While it’s important to adopt a long-term mindset to really see momentum build, in all likelihood you should start to see positive increases relatively quickly in all of these areas.

#1. To Generate Website Traffic

According to inbound marketing giant, Hubspot, companies and brands that blog receive 55 percent more website visitors than those that do not. Because your blog acts as a vehicle to drive traffic to your website, there is more opportunity to convert visitors into clients. 

#2. To Foster Interaction

Blogging allows you to interact with your clients, and also gives them the opportunity to provide you with valuable feedback. Invite and encourage your followers to talk to you by leaving comments or questions — and you can even turn some of the better questions into their own blog posts. 

#3. To Build Authority and Trust

Blogging also allows you the opportunity to showcase your knowledge and demonstrate your authority in your field. By utilizing your real estate knowledge to write solid content, you will quickly begin to earn the trust — and the business — of your followers. If you’re looking for ways to further build your reputation online, you’ll want to get your clients to leave you reviews.

Real Estate Blogging Best Practices

  • Make sure you’re always linking your blog posts to related and relevant pages on your website, and link your social media posts to your blog posts. 
  • Update your blog on a regular basis. A good rule of thumb is to start with one blog post a week. Once you’re comfortable, consider bumping up that number. Research has shown that companies that blog receive 434 percent more indexed website pages that those that don’t. 
  • Optimize your post with keywords, images and, above all else, natural sounding content. 
  • Always include a call to action, encouraging your readers to convert by filling out a form, signing up to follow you, or contacting you directly. 

To learn more about how to build your referral network, including the most effective way to ask for referrals, best practices for staying in contact with past clients, how to use surveys for real growth, and where it is appropriate to make a social connection, sign up for our platform and check out our course Building Your Referral Network today. 

AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.

Getting Your Buyers Pre-Qualified for a Mortgage

Marci Sepulveda Leave a comment

As any real estate professional knows, the lending landscape is always changing. While there were a number of years when it was very easy for homebuyers to secure a mortgage loan, mortgages are now under more scrutiny than ever, with tight regulations in place to help keep banks sound. Because most of your home buyers will need to take out a mortgage loan, it’s important that you have a working understanding of the process. 

The Difference Between Pre-qualified and Pre-approved

There are differences between getting pre-qualified and getting pre-approved for a mortgage. It is important for you to be aware of these.

Getting pre-qualified for a mortgage is an initial check-in to get a preliminary estimate from a lender of the mortgage your client will probably qualify for. It helps guide the home search process by narrowing down to the range that they will likely be able to borrow. It’s the first hurdle a borrower must clear.

Getting pre-approved for a mortgage happens further down the road in the lending process. It requires an even closer look at your client’s income, debts, assets, and credit. While still not an assurance of obtaining the mortgage—pre-approval is the second hurdle in the process, and brings the client one step closer to a successfully closed transaction.

Why It’s Good to Have Pre-qualified Clients

While getting your buyers pre-qualified for a mortgage does not carry the same weight as getting them pre-approved, it does serve as the initial guide post for making sure that you are selecting homes that are realistically in your client’s price range. You may of course have to narrow home selections even further once the financial options and constraints become clearer, but it’s a great place to start.

One of the most frustrating things for agents is working with buyers who have not yet been pre-qualified for a mortgage. You take buyers to see a number of homes, only to find out that they are not likely to get approved for the mortgage that is required to purchase those homes. This is why it’s helpful to be working with pre-qualified clients from the get-go, or for you to urge your buyers to get pre-qualified early in your business relationship.

Advice You Can Offer At This Stage

So then, as an agent, what advice can you give at this stage? How can you help raise your clients’ chances of success at the pre-qualification stage? Let’s look at three effective pieces of advice for your clients at this point in the process. 

#1. Recommend a Credit Review

One of the first steps toward getting pre-qualified, as well as knowing the types of houses your buyers should be looking at, is for them to know where their credit rating stands. If not already done so, recommend that your buyers review their credit report and check their FICO scores to uncover any potential issues or mistakes, and determine if they need to build their score before searching for a home. 

#2. Urge Them to Fix Credit Errors Quickly

If mistakes are found in their credit history or on their credit reports, your buyers will want to resolve them before moving forward with getting pre-qualified for a mortgage. Have them contact the credit reporting agencies immediately if any errors are found. Mortgage companies that want loans to close on time may offer to pay credit agencies to update your buyer’s credit report quickly with a rapid rescoring service. 

#3. Remind Them to Be Realistic

It’s not uncommon for lenders to pre-qualify or pre-approve applicants for a mortgage that’s more than they can afford. Make sure that your buyers aren’t letting lenders dictate how much they spend on a home. Lenders determine pre-qualifying amounts based solely on income and credit report information, and don’t factor in day-to-day expenses such as daycare, car payments, groceries, insurance, and more. Rather than purchasing a home for the maximum amount allowed by the lender, make sure your buyers are making a smart investment by purchasing a house that is within their means. 

As an agent, although you are not a loan officer, you still play an important role in the mortgage process. To learn more about what you need to do to help keep the sale on track, check out our course Guiding Your Homebuyer Through the Mortgage Process today. 

AgentEDU® is a platform where agents at every level can come to watch 10-minute video courses for the many situations that successful agents must master. From essential to advanced level and everything in between, AgentEDU® courses help agents become top producers with increased earnings and a plan for continued growth. For a 7-day free trial sign up here.

AgentEDU® is an Agent Publishing brand. For nearly two decades, Agent Publishing has been committed to providing residential real estate professionals with the information and training required to build successful and meaningful careers in their local markets. Agent Publishing’s influence extends to every career stage and reaches agents across print, digital, events and online learning.