For many professionals, regular referrals can be the difference between a mediocre and a successful year. They can bring professionals in contact with prospects and clients they would not have met otherwise and create an ongoing opportunity to expand a professional network.

For non-real estate professionals who want to increase their presence in this sector, referrals can be an excellent way to establish a foothold.

There are two keys to getting more referrals from real estate professionals:

  • Understand and connect with the best referral sources.
  • Start by giving. You’ll get much more in the long run.

Which Real Estate Professionals to Target

The best referral sources tend to be the professionals who interact most with your potential prospects. In real estate, two of the best professional categories include the following:

  • Title insurance professionals work with the most people, both industry professionals and buyers, and typically have the largest networks.
  • Real estate brokers/agents tend to make the most introductions to prospects since their clients often seek referrals for various services.

Other pools of referral sources depend upon your services. A professional who works in some area of finance might be most likely to receive referrals from lenders. A handyman or contractor should connect with home inspectors. Think about what types of professionals you interact with most or who offer a complementary service to yours.

How to Connect with Real Estate Professionals

The complex real estate world is a unique universe. For professionals who don’t live in that world, getting more referrals starts with immersing yourself in the real estate industry and understanding it. Research, ask questions, and attend educational and other real estate events and trade shows. Understand the current real estate market and every part of the process—even those parts of the transaction that have nothing to do with you.

Professionals want to refer and work with people who will reflect well upon them, and that means coming across as both knowledgeable and professional.

At the same time, don’t attend networking events to request referrals or other support. Go with the mindset of seeing how much you can give to others. If it motivates you, set a specific goal, such as, “At this mixer, I’m going to tell three people something about my corner of the industry that they probably don’t know and will find helpful.” When you educate and support others, they’ll be much more likely to do the same for you.

Also, remember that referrals are a two-way street. To expand your network, start by giving as many referrals as you can.

Best Practices for Networking Success

Don’t be shy about telling your existing personal and professional contacts that you’re seeking referrals. But don’t just say, “I’m grateful for any referrals you can send my way.” Be specific about the types of referrals you’re seeking, when in the process you want to make those connections, and what your referral sources should say.

For example, if you’re an insurance broker who sells homeowners’ insurance, you might ask networking partners to introduce you to people who have just signed a contract for a new home. Have them say, “If you’re interested in looking at home insurance so you know what it’ll cost before you get to the closing, I work with a broker who represents several companies and is really good at finding the best policy for each individual home and situation.”

Whatever you do, whatever your goals, hold yourself to the highest standards. No “favors,” no kickbacks, not even the hint of a quid pro quo. Be a professional whom your referral sources, clients, and everyone you work with can trust. That reputation will get you far.

The Cornerstone Value-Add

Cornerstone goes well beyond what your clients expect from day one, starting with a free tool to estimate closing costs based on a home’s location.

With the experience gained from over 16,000 transactions, Cornerstone can be an invaluable resource for you and your clients. We can connect you and your clients with other real estate professionals who meet the same high standards you do for customer service, expertise, and integrity. Those professionals can also be excellent referral sources. We also host regular events for the real estate community, which are excellent social, professional, and networking opportunities.

There’s a reason why Cornerstone has a five-star rating from Google reviews. And because title insurance rates are set by the government, your clients don’t pay more to use Cornerstone. But they certainly get more. The earlier your clients are in the buying process, the more we can help. If the American Dream of homeownership is important to your clients, please let us help you make their dream a reality.