Want MORE Referrals? The words you use matter.

We all want MORE referrals right? You should want more referrals. A recent Harvard Business review study discovered that "referred customers not only buy more but also refer 30-57% more new customers." Even more fascinating, by simply reminding referred customers of their referral origin increased referrals by 21%.

This trend termed "referral contagion" shows up across industries. And if you apply it to real estate it can help you grow a word of mouth relationship based business that is much more enjoyable to work!

One key component in getting referrals is that, well, you kind of have to ask for referrals.

We talked about the word referral in the most recent episode of the podcast. I recently attended the CEO summit at the annual Mega Camp conference held by Keller Williams Realty in Austin, TX. One of the speakers,  Jason Dorsey, has studied the word and said the word referral tests negatively. So how do we ask for referrals if we can even use the 'R' word? Instead simply say "do you have any friends I can help?"

So the next time you pick up your phone to lead generate with your sphere of influence or past clients, remember that they don't want to send you a "referral". They do want to help their friend. Words matter and in the business of residential real estate, what you say and how many times you say it determines the level of business you do.

What are your favorite ways to ask for referrals?

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