MANAGING YOUR REFERRER RELATIONSHIPS
We all know that referrer relationships (predominately with real estate agents and mortgage brokers) are important components to a successful conveyancing business but why is it that some referrers are more giving than others and how do you create the most effective referrer network? There are three key components to creating positive relationships with referrers, they are; creating, developing and maintaining. Whilst many of us are good at making the initial connection with a referrer – will normally give someone our card and follow up with an email – very few people are good at two other components, that is taking the time to develop and maintain the relationship.
The first mistake people make when trying to create a referrer relationships is, they forget that they are like any other relationship, they take time and need attention. Although referrers are people you work with they should also be people whom you like and share values with. This is important for two reasons, firstly, referrer relationships are established over time and last years, it is far better to be working with people you like not just people you have to tolerate. Secondly, having shared values means that you will develop a stronger sense of trust for one another which increases the likelihood that their clients will be the type of people you want to work with.
Once you have reached out and established the initial relationship you need to put time into continuing to develop it. Try to keep in regular contact with referrers by sharing articles that might interest them or send them a newsletter updating them about your business.
Maintaining the relationships is the final and most important part of developing a successful referrer network. Keeping them up to dates with the progress on their client’s case is a fantastic way of keeping them in the loop. Similarly sharing positive feedback, you get from their clients with them helps to reaffirm your ability to perform your tasks well and efficiently for their clients. A referrer relationship is a two-way street, as well as sharing your clients, share your pool of connections. By introducing your referrers to other people in your network not only shows that you care about the individual but also that you are well connected.
Finally, don’t forget to thank them! Gifts are a great way to say thank but are not always necessary. If you do decide to use a gift to say thanks, show that you know and appreciate the individual by taking the time to select a gift that reflects the individuals. A good way to do this is to purchase gifts that relate to their hobbies or interests. Never feel like you have to give a gift, instead take the time to write to them a card. It goes a long way and contains a lot of meaning and is just as effective in showing that you value them and their business.
Managing your referrer relationships can be complicated, that’s why Perfect Portal is not just designed to help you generate more conveyancing work but also helps build your referrer network. The unique conveyancing sale management software includes a free unique login for each of your referral network allowing them to quote on your behalf and keep informed as the conveyancing matter progresses. Book a demo if you would like to learn more about how Perfect Portal can help your business.