Get Others to Promote Your Business
Show agents how to get the local business community rallying behind them — and filling their sales pipeline along the way.
November 3, 2015
Far too often, agents fall into a slump with cold calling and canvassing, which can hurt their self-esteem. If you’re looking for a fresh idea, this technique may be a game-changer for your agents and your company.
From real estate rookies to industry vets, every agent and broker around the world is trying to promote themselves and their business. But wouldn’t it be great if other people were out there promoting your company every day of the year?
The key is to adopt a strategy that’s common among top producers: partnerships. You or your agents can reach out to other businesses in your market, whether it’s restaurants, hair salons, or local shops, to establish a promotional cooperative.
Approach those business owners and ask for a discount that you or your agent can offer to clients, such as 15 percent off a product or service. Explain to them that you’re offering access to your customers in exchange for an exclusive customer discount. Make sure agents are not actually handing over clients’ contact information to these partner businesses, but merely referring them.
You should also make sure that local businesses understand how valuable your particular clients are to them. Buyers and sellers alike tend to spend more on certain products and services related to the sale or purchase of a home, and that can benefit your partners. In fact, the National Association of REALTORS® estimates that for every existing-home sale, $30,792 goes into the local economy in the form of commission fees, moving expenses, and the purchase of furniture, landscape materials, and more. Invite store owners to be a part of that.
Once a partnership is established, list those businesses on a page of your company’s website. Brokers could even create a VIP discount card that agents can give buyers and sellers. Don’t forget to provide point-of-sale material that each business can display prominently, stating, “XYZ Real Estate Company discount card welcome here.”
When customers shop, they’ll often shop with a friend who will ask about the discount, and clients will say, “Oh, we’re customers of XYZ Real Estate Company and they arranged discounts at all kinds of places for their customers.” A certain number of people who see the point-of-sale materials will be in the market to sell, buy, rent, or have somebody manage their investment property.
It may help to set up a reward system for the businesses that refer customers to you; the more rewards they get, the more likely they are to display your branded rewards information. Everybody wins.
Agents need to feel like their broker supports them, and it’s often difficult to come up with new ideas to show that you care about helping them with their sales pipeline. By sharing this idea, they’ll be reminded of your support throughout the community.