What's the initial thought that pops in your head when someone talks to you about a referral letter marketing idea for Realtors? You probably figure I'm talking about getting testimonials from your past clients to use in your marketing, correct? That's a terrific marketing suggestion for Realtors too. But, I'm talking about getting a lasting stream of client referrals from professionals like CPA's, mortgage brokers, financial planners, attorneys and contractors. And you'll only have to pen a short little letter telling them how marvelous of a Realtor you are.
In short, this referral letter marketing system comes down this: Get yourself a solid list of respected professionals that are most likely to have the same type of clientele that you would maintain. Then you want to compose a individualized letter about yourself and mail it, by regular mail, to your list of professionals.
Get creative on the envelope or package you send it in, as well as some type of extra marketing piece, like a DVD you make using Animoto. Be sure to follow up by phone, if you can, with each professional that you've sent your letter to.
Scores of Sharp Realtors and agents use this one marketing method to fuel their real estate businesses for their entire careers! It's ok to imitate what the top producing agents are doing, merely put your own style into it.
First off, how about we build a list of professionals who are most expected to have real estate buyers and/or sellers for you...
- CPAs
- Lenders (understandable, correct?)
- Financial Planners (certified)
- Lawyers
- Remodeling Companies
- Interior Designers
- Real Estate Appraisers
- Electricians
- Plumbers
- Residential Landscapers
- Tree Trimming Contractors
- Residential Handymen
- Get the concept?...
Of course, there are numerous more professionals to add to the list but that'll have you going for today.
So how can you get a thorough list of all the professionals you'll wish to work with? No worries, it's easy. Depending on how many marketing dollars you have, there are a pair of options for you.
The online yellow pages is certainly an alternative for you. As a Realtor, you already have a region you operate in so stay within that geographic region, in general. With the yellow pages choice, the downside is that it can be time consuming.
You'll need to sort through each professional listed and get their address, name and phone number. It may take you a while but if you have more time than marketing dollars, this is the route to go.
The other option for you is to just buy a list of these professionals that you wish to advertise to. Precisely like you're probably on a Realtor list for sale to the public, nearly every other profession has their own list for sale as well.
Relax, these types of lists aren't immoral or unethical. These types of professional lists are out there because professionals (like us Realtors or agents) deliberately sign up for countless publications, organizations, events, etc.
See why all that Realtor junk mail and email somehow gets sent to you?
You have more than decent choices when it comes to picking a list company to purchase your list from. Rather than going to one list company for a list of attorneys and another company for financial planners, you ought choose a company that provides all the professions you need in one place. Purchasing your list will cost you a few marketing dollars but you'll salvage yourself a pant load of agony and working hours.
Whether you choose to pay money for your list or accumulate it yourself, as soon as you have it, you can set off crafting your referral letter for these professionals. I can't detail how to create sales copy here, sadly. Learning to compose sales copy is a long issue by itself.
Just realize for now that you don't want your referral letter to be a "sales letter".
You can copy and re-use your letter for each professional but the referral letter itself needs to cause each professional who gets it, to feel like they're the sole one in the world that you sent it to.
The point is that you ought to compose this referral marketing letter as if you were talking to them face-to-face. I'd suggest that you don't employ the boring, "professional" language style that you read in the letters you receive from your bank. Catch the reader's attention, write to them like a sincere person and not like an institution.
By the way, this "personalization" goes for just about all your marketing pieces: postcards, flyers, ads, emails, etc.
The "jist" of this referral marketing letter needs to convey that you're interested in building a "reciprocally beneficial" relationship where you can both refer business to each another. Your intention is to be their "pocket Realtor" who gets all their referrals, for free! Don't tick off these professionals by "selling" them, but alternatively, show them how they're going to gain, okay?
One approach to personalize your letter is to drop in something you know about their company, if you happen to know an interesting tid bit. Maybe you personally know of a customer who's used that professional, toss that in the letter too. Unless you babble about their mom, for some reason, it's almost impossible for you to get too personal in your letter.
Penning this marketing letter yourself would be my huge, crucial suggestion. But if you just hate penning this sort of marketing material, you can hire an inexpensive free-lance writer to do it for you.
Merely type in "freelance writers" on Google and you'll see lots of individuals to pick from. With a number of companies, they even let you to screen through their writers from across the world. The great thing is a few of these companies permit you check reviews on each writer, how much they charge and even contact them with "interview questions". You can even post the job you're looking to fulfill and get writers to come to you. It's really pretty convenient.
O.K., so far you have your marketing list of professionals and your marketing letter completed, now it's time to mail it and get some clientele. Just whatever you do, please do not send your letter in a plain white envelope like we see everyday of our lives... please, please, please!
Instead, grab a distinctive looking envelope that has a little special size or color to it. What you're trying to do is have their eyes go to your envelope or box 1st and open it before every other piece of mail they get that day. Don't forget, hand-penning the return address and mailing address will help to get your envelope or box opened and not thrown in the trash.
Stop and ponder about which pieces of mail you open first. The letters that appear to be hand-written get opened 1st, right?
A bonus you'll need to enclose, in the package, is some kind of marketing piece in addition to your referral letter. This may be a video you produce using Animoto that showcases who you are and why they must pay attention.
I have a buddy who sold life insurance and had the superb plan to mail out tiny poker chips with his information printed on them. This buddy of mine printed "Do not gamble with your life" on all the poker chips.
Brilliance! If you want to be a top producing Realtor like the "big boys", that's the sort of idea you want to come up with, or at least be aware of where to get them!
With this referral letter, make certain you specify for these professionals to not only call your phone, if they want, but also to check out your blog or website. Give them the choice but make sure you give them both. You can never tell who hates talking on the phone and who hates looking at websites.
This last step is probably the most important. The number one rule in marketing is "repetition". Marketing industry statistics indicate a consumer needs to view your message or hear from you at least 7 times before they become familiar enough with you to act.
So continue following up with these professionals on your marketing list. I'd say shoot for once per month, either by telephone or another letter, after you make the first follow up phone call after your 1st mailing. If you were able to get or purchase their e-mail address, feel free to start emailing them too.
As it is with dating, you need to be careful to not smother and bother them or else you can count on never receiving referrals from them, ever. It's a fine line but you need to tell them why you should be their "go-to" Realtor without coming across in a rude or annoying manner.
Quick tip if you have the marketing money: hire a college kid to process all these mailers and salvage yourself the time. I'd still tell you to write down your referral letter yourself but feel free to pay someone else to address the envelopes and stick the letters inside.
This sort of hired-hand will be about as inexpensive as you can get and you'll save so much time that you won't understand what to do with yourself.
Seriously, this is just one of the best, long-term and short-term marketing ideas for Realtors. As long as you are consistent about building these relationships, you can garner yourself a career-long stream of free client referrals.
If you truly serve these professionals as much as you want them to help you, your closings will increase and you'll work your way up to being the top real estate agent in your neighbourhood.
Josh F. Sanders is a Real Estate Broker and the Founder of Shiloh Street University in Seattle, WA. SSU is an online marketing school for Realtors, dedicated to “Creating Wealthy Agents through World-Class Marketing” by providing step-by-step video lead-generation tutorials. Get your "FREE 5 Day Sneak Peek" at Shiloh Street University.
