networking for client referrals

3 Tips When Asking For Introductions Within Your Sphere of Influence

the Institute All, Luxury Home Marketing Tips, Networking Tips 0 Comments

If you needed client referrals to jump-start your luxury real estate practice right now, what would you do?

There’s no doubt that asking for client referrals is one of the best strategies you can use to grow your luxury real estate practice, yet so many talented luxury real estate professionals find themselves too busy, too intimidated, or too hesitant to ask.

So, who better to ask for networking tips than Josh Tucker, a top performing luxury real estate professional who went from working for NASCAR’s mechanical crews to becoming the go-to real estate resource for North Carolina’s professional athletes and other affluent buyers?

In one of our latest Estate of Mind podcast episodes, Josh tells the Institute exactly how he built his impressive sphere of influence, and how he goes about asking for introductions.

Here are three of his best tips:

1.) Be specific, but not pushy

The truth is, people who have had a great experience with you love to give referrals, but it’s not always easy for them to think of a name on the spot. Most luxury real estate professionals make the mistake of asking, “Who do you know who might need a luxury real estate professional?” or “Do you know anyone looking to sell their home?”

While these may sound specific enough, it’s better to approach the conversation with the intention of setting up a specific introduction. One of the examples Josh gives is asking your client something like, “Who is it that manages your wealth, and would you mind introducing them to me?” or “Who is your business attorney, and could we set up a time to meet so I can see how I can help them in the future?”

Another way to get specific?

If you’re an Institute member, you have full access to the Institute’s Online Wealth Lookup tool and Wealth X, which can both show you some of the key players in your clients’ social circles. In an older episode of Estate of Mind, co-founder of Wealth X David Friedman suggested using the information you find in these tools to use an “inward-out” approach to introductions.

By asking your client or connection to put you in touch with a certain individual, you immediately position yourself as the “vetted professional” rather than a total stranger.

2.) Position yourself as a resource

It’s important that once you’ve landed a client referral, you have a plan to add value to that person. In other words, who are you and why should that connection get to know you? How can the relationship be mutually beneficial?

During the episode, Institute instructor Tami Simms suggests using the Institute’s Luxury Market Report as a simple value-add to the conversation. Start by letting the connection know who you are and what you do, how you know the mutual connection, and ask if they’d be interested in receiving the Luxury Market Report you produce each month. This can work especially well with other professionals like CPAs, attorneys, or wealth managers who also work with your client.

3.) Keep communication consistent

What’s the point of asking for client referrals if you don’t spend time nurturing them? Once you make the connection, staying top of mind is key for both parties to benefit. Too often, luxury real estate professionals get excited about new connections and have a great initial introduction, but let the day-to-day tasks get in the way of truly strengthening that relationship.

Some easy ways to stay top of mind are to send weekly or monthly emails (especially if these are batched and automated so you can’t forget), schedule calls on your calendar to call them each quarter, and remembering to send new opportunities their way if they’re also a professional service provider.

Looking for a proven framework to grow your luxury real estate practice? 

Every month, the Institute holds an live, online, immersive luxury real estate training where you’ll gain invaluable insight to help you win higher-priced listings, position yourself as a luxury expert, market luxury homes, find prospective buyers for your properties, and much more. Learn more and reserve your virtual seat here.

Leave a Comment

Anti Spam Measures *