Studies show that the average person who buys or sells a house, knows 3-5 people that will also buy or sell every single year.  Knowing this, when is the best time to ask your current clients for a referral?  I find that most salespeople wait until the transaction is complete before asking, and while I understand the logic behind that, I would argue that there is a better time.  From the moment you take a listing or begin working with a buyer, you’re already demonstrating value and hopefully differentiating yourself from your competition by showcasing your expertise.

Ask at the Beginning of Your Relationship

 When you first sign a listing or start working with a buyer, this is when your clients are likely to be the happiest.  They’ve decided to work with you; they’re excited and hopeful – It’s the honeymoon phase!

As time goes on, markets and circumstances may change.  Selling may take longer than expected and your sellers may no longer get the wanted closing date.  Perhaps your buyers will encounter a multiple-offer situation and lose out on their dream home.  Several factors may occur, many outside of your control, which could potentially dampen your customers’ spirits and downgrade the experience.  Even though these clients would wholeheartedly admit you did a great job, they now lack the enthusiasm they once had, merely because the buying or selling process was not as easy as expected.

First and Foremost, Ask for Referrals

We all must learn to ask people for referrals but I think it’s equally important to think about the optimal time for these conversations, rather than mindlessly slipping in the request with your closing gift.  It’s not always going to be appropriate to ask for referrals early in the relationship, but be aware when it is, and be open to the conversation.

I’ve created a handy script to help guide your conversation.
Click here to download now and learn what to say when asking for a referral.

Until next time, make it count.

-Rich