Building a real estate practice by referral is a great option to increase marketing efforts for both commercial and residential real estate professionals.

The obvious reason to do it is to generate new clients.  The way to do it, is to network.  The best way to network is to is be a referral source yourself.  It is the givers gain mentality, the golden rule is if people know that you care for them, they will go out of their way to care for you.  The best way to show other business people that you care is to refer them business.  Even if they can’t refer you clients directly, they will endeavor to speak your praises to people they meet.

Another reason to be a good referral source is simply good customer service.  You want your clients to think of you anytime they have a question and need help with a project or service.  When the client needs a reliable contractor, you want them to call you for a recommendation.  When the client needs a recommendation to an interior decorator, you want them to call you.  When the client needs a recommendation to an architect, you want them to call you first!  The more of a ‘go to’ resource you are, the greater your visibility with all parties involved (the client, the vendor and all of their associates).  The more visible you are, the more clients and business you are bound to have.

Another key reason to be a good referral source is that there some professionals that can pay you referral fees back.  Business Brokers are one of those professionals.  if you have been a commercial Realtor or residential Realtor for long enough, you are bound to have been asked about selling a business by clients.  What do you do with those requests?  Refer them to a quality business broker!  One option is yours truly, the author of this post.  Feel free to browse the other article categories of the website to get a feel for my practice expertise and view the YouTube videos in which I discuss various topics related to business brokerage.  And, of course, referral fees are paid to you if you are the broker, or to your broker to be split with you according to your arrangement with your broker.

To learn more about referring your business opportunity client to us, contact our Broker, Pramod Patel, directly by telephone (888) 926-9193 or email cs@justelementary.com

Feel free to browse around the website, except for a couple of guest posts, the articles are written by Pramod Patel, who is a CABB Certified Business Broker.