Word of Mouth

**RichTuday** · 01-01-2009, 11:45 AM

Even though I am a private investor, I have noticed I am getting more and more leads from 'word of mouth', better known as referrals. Our success rate is a mere 1-2%, however, they are turning out to be the most profitable to us. We also get good response from our direct mailing campaigns, though we use a targeted market approach instead of a shotgun approach. Since we are presently looking for a specific type of property in our immediate area we only send to the owners of those properties, repeatedly.

**ntkennedy** · 01-13-2009, 05:02 PM

It would definitely help to put some opt-in forms on your website.

This way you can increase the success rate and do more deals.

Just a thought.

Nate

**hotrealtyleads.org** · 01-13-2009, 07:24 PM

I would also say one of the best ways to get referals is to ask the sellers that you deal with. If they sell you a property, there is a good chance that they know someone else in their same situation....just a thought.

**DanielMarshel** · 01-14-2009, 05:46 AM

The method of referal do work in real estate business. The past clients are of prime importance in this regard.

**rbarrett** · 01-14-2009, 10:47 PM

Typically most of our leads come from open houses, yet all of our revenue comes from word of mouth. We get very few leads from direct mail.

**RussReynolds** · 01-15-2009, 01:29 PM

I have found that most people take a passive position when it comes to referrals. In other words they wait until they come to them or maybe ask a few people here and there.

I think all service professionals could really benefit from setting up a proactive referral system - they can be easily automated and effective. That way you never have to worry about missing a referral.

Russ

**madhubalanK** · 01-19-2009, 03:18 PM

I agree with that. Word of mouth is becoming a good marketing trend. And also, cold calls on wkly basis to new customers makes them to look our real estate websites. If you have a good contact with the customers, surely word of mouth will be a big HIT.

thanks,
wayrental. com

**Nealrm** · 01-20-2009, 05:39 AM

Word of mouth is the best advertising that any business can get. Not only are potential client more likely to believe their friends about a business, but the advertising if free.

I would say that word of month advertising account for about 75% of our new clients.

**thomas12** · 01-20-2009, 11:02 PM

Referrals do come as handy, though the success rate is much less, but i believe its quite higher than the normal leads.

**TDG** · 01-21-2009, 09:25 AM

The most important thing to remember when working to gain word of mouth referrals is everyone is a potential client. This means it is of utter mportance to treat all your clients with great customer service and follow through, even after the closing! If you provide bad service or don't return phone calls people will tell everyone and it will quickly work against you.