Leveraging Your Most Valuable Real Estate Asset to Supercharge Results
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Is your real estate business a referral based business? Did you know that 80% of your closings are likely a direct result of your sphere of influence. So why are you chasing new clients instead of cultivating your current database? Explore the answers with this Power Point presentation by Jim Remley and then jump on erealestatecoach.com
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Leveraging Your Most Valuable Real Estate Asset to Supercharge Results
- 1. Leveraging Your Most Valuable Asset to Supercharge Results
- 2. Your Key Metric • Q2 64% of sellersfound their agent through a referral 42 % of buyersused an agent that was referred to them
- 3. The One to One - Marketing Makeover • It costs 7x more to obtain a new customer than to keep an existing one. • Capture a share of the customer (and their network) not necessarily a share of the market.
- 4. People influence people and nothing influences people more than a recommendation from a trusted friend. A trusted referral is the holy grail of advertising! – Mark Zuckerberg Exactly how large is your sphere of influence?
- 5. Sphere of Influence: A list of Relationships What it is: People who know, like, and trust you. What it’s not: A database of people who don’t know you.
- 6. Sort It Out • Print Out Everyone from Every Source Facebook, Cell-Phone, Christmas Card List, Database.. • Highlight People that know, like, and trust you • Build a New Master List in one CRM system.
- 7. Measuring Your “A” Ratio • “A” Clients are those that have referred you business over the past year. • Your starting “A” Ratio target is...
- 8. Pick a Tool & Use It The tools don’t matter… The key is you! People prefer to do business with people they know – Jeff Gitomer
- 9. The Financial Model • The 10: 1 Rule Great works are performed not by strength but by perseverance. – Samuel Johnson
- 10. Why Referrals Work… • We all love a secret… to be the insider
- 11. Size Does Matter (when it comes to your sphere) Small sphere = small results 1. Set a Daily Goal (1,2,3) 2. Create an Intake Sheet 3. Create a Visual Cue 4. Use a Script
- 12. Scripts to Build Your Sphere • Hey have you ever wondered what home values are doing in your neighborhood? I have a market update that I send out monthly that keeps my friends up to date. It’s free. Would it be ok to add you to the list? • Hey I put together a hyper-local blog about <City.> I would love your thoughts on the content and things I can add – would it be ok if I added you to the subscriber list? • Listen I am doing a new real estate market text update – it’s three bullet points about the real estate market monthly that I send to my friends. Would it be ok if I add you to the group.
- 13. The Introverted Extrovert • Use the 80/20 Rule of Conversation
- 14. Avoid The Fade Party Rules – FORD + Purpose • Connect with One Person • Ask Questions • Find Shared Interests • Find the Opportunity • Obtain Contact Info • Follow Up with Value
- 15. Database Bible • Printed – Monthly (1st) Sort by Address Sort by Last Name “Just Drove by Your House…” “Doing an Open House in the Area” “Just showed a house in your neighborhood…” “Was thinking about your guys today…”
- 16. Active Management • Call Everyone In Your Database Good Morning… How are you? Hey I was thinking about you guys today because….<fill in a reason>. Listen before we hang up I just started working with some new buyers looking for <be specific>, if you hear of anyone that might be thinking of selling soon would you let me know? Good Morning, hey I have to apologize – I feel guilty for not calling you sooner! How are you guys?
- 17. Contact Circuits • Call Database • Handwritten Cards • Networking Meetings • Personal Messages • Bulk Mail • Stop By’s
- 18. Building Your Ladder • Categorize Your Database • A = Referral • B = Business • C = Acquaintance • D = Delete
- 20. Identify Network Hubs • Identify Influencers • 2-3 Meetings Per Week • Be the Connection Point
- 21. The Unequal Equation • Target Business Owners, Salespeople, and Entrepreneurs • Network: “I want to start sending you more business this year – tell me everything new and exciting with your company!” • Flip the Sell: “Aside from my direct business how can I help you?”
- 22. Fill Your Gaps • Create top 10 List of Vendors you will need to refer your clients to.. • Social Media Recommendations • “You were referred to me by I am hoping to establish a relationship with <vendor> to refer my clients to – would you have 10 minutes in the next week or so to exchange cards…”
- 23. Stop By’s (A+B)
- 24. Personal Email/Text/Private Messages Hey Bob – Just saw your award for your work with Autism Speaks – nice work!
- 25. Video Update
- 26. Bulk Mail
- 27. Data Mining • Personalize & Customize Your Marketing with Data
- 28. 1000 True Fans • A True Fan is defined as someone who will purchase anything and everything you produce. They come to your openings. They have you sign their copies. They buy the t- shirt, and the mug, and the hat. They can’t wait till you issue your next work. They are true fans.
- 29. Conditioning – The Ask • Your clients don’t know they are supposed to send you referrals – you have to train them to do so… When Listing a Home: You know when you put your home on the market everyone is going to want to talk real estate... If any of your friends and family have a need for a real estate professional I would love to help. Can I give you a few extra cards? When working with Buyers: Now that you are shopping for a home you will probably be talking real estate with family and friends – I would love to help anyone you know with their real estate needs. In fact I only work by referral…
- 30. House Warming Parties • Offer to Host a Party for Buyer Clients
- 31. House Moving Party (or Help) • Offer to host a moving day pizza feed (or send over a food truck)
- 32. Client Appreciation Events • Pick a Venue or “Tag” On • Schedule Your Next Event • Invite a Hand Picked Group “Hey listen this little get together is just my way of thanking all of you that have either bought or sold a home through me or referred me new clients. My business is really referral based and your help is invaluable. Thank you!”
- 33. TAP Interesting “Experts” • Target People that have a great story • Ask them to talk for 30-45 minutes • Produce an amazing event
- 34. When You Receive a Referral • Public Rewards • Social Rewards • Experiential Rewards
Editor's Notes
- We have a lot of relationships in our lives – with our family, our spouses, our friends…. But we also have professional relationships. For instance I have a relationship with Taco Bell, it’s been going along time now…US Bank, Les Schwab, Nike, Alaska Air, Pepsi and people Brands as well Michael Jackson, Stephen King, Timothy Ferris, Gary Vee…. How did these companies and brands create a relationship with me – enough that I have and continue pay them money regularly? They deliver value – it’s not perfect – US Bank is a great… love, hate example – but I continue going back because of the depth of my relationship. But overall they have developed in me something that is incredibly important – a lifetime client, and for a few of these brands massive amount of referrals. Today is about help all of us build a better brand experience for our clients and leverage our most valuable asset – Client Relationships.
- Southwest Airlines – THE CASM or Cost Average Per Seat Mile. Uber – Number of Rides – 2 Billion last year, Retailer Like GAP – Avg. Sale PSQFT So do you know your key metric in the real estate world? The foundation of your business is the quantity and quality of your database. What I call Q2. According to 2017 National Association of REALTOR’s – (Read Stats) Yet Q2 – the quantity and quality of our database is what we as industry continue to ignore – instead we chase magic bullets, we pay for leads that go nowhere and spend money on marketing to people we have never met. Home Selling and Real Estate Professionals The typical seller has recommended their agent twice since selling their home. 33% of sellers recommended their agent three or more times… 85% said that they would recommend their agent for future services… Question have you received two referrals per closed seller in your database? Is 85% of your database actively referring you today? If not – then we have to ask is that their fault or ours?
- Authors Don Peppers and Martha Rogers in their book – The One to One Future….7X Rule - the new goal of marketing is to capture a share of the customer (and their network), not necessarily a share of the market. A good example of this kind of approach - Lexus auto dealerships. They often invite two to three hundred likely prospects to dinner and a concert. The offer is clear…we buy dinner /you look at our cars…. What is Interesting: The salespeople are instructed not to use “high pressure” sales techniques. Why? High end customer don’t respond well to it … Instead they invite current Lexus owners to join the event. Why? They know their best salespeople are their current customers…Here is a question - Are yours? I think this is a fascinating concept – turning your network into your personal sales force…Imagine that when you add new people to your sphere you are actually recruiting a new sales person, it’s your job to train and coach these new sales channels to begin delivering referrals
- The myth of the online lead is that it’s the new golden goose – but in reality according to a study done by Inman News only about 3% of online leads – end up closing. Now does that mean we ignore digital marketing, website leads, and online lead generation tools? Absolutely not…. But first we need to listen to Mark Zuckerberg the founder of Facebook… he said this --- “People influence people and nothing influences people more than a recommendation from a trusted friend. A trusted referral is the holy grail of advertising!” So if I ask you today how large is your Sphere of Influence? Do you know the exact number – as in yes Jim – it’s 232 or 166? If not this is an opportunity to completely refocus your resources on your single biggest asset. Write down your best guess The one that will create the most success for you as a broker and the absolute key to your profitability both short and long term. Hard is good! It Aint Easy!
- At its core, it’s essence – A Sphere of Influence is a list of relationships a list of people who know, like, and trust you - not a list of names from the chamber of commerce or a farm area… that is just raw data. For example Judy came to work for me a few years ago and when she arrived she brought with her a 1200+ person database. Now keep in mind if you have database that large you should be closing well over 100 transactions a year...let’s just say she wasn’t. When we dug into her “sphere of influence” – she had her entire church database, several club lists, volunteer organizations… the list went on and on. So we had to sort it out – people that she actually had a relationship with – stayed in her sphere of influence but people that she wouldn’t be comfortable calling – we dropped into a farming database which is a completely different animal. Robin Simpson example of calling someone – in her phone…resuscitation The end result her real database was less than 250 members.
- So here is an assignment for you for the next week – sort out your database. – It aint easy…hard is good… complicated is good. Here is a three step program for doing just that: Print out everyone in your current lists – from every source. Your current contact management platform, Facebook, cell-phone, xmas card list .. any lists you have on hand… Funeral director / 250 Next highlight those people you think would know who you are if you saw them on the street or in the grocery store or talked to them on the phone… Build one new master list with just these people on the list… What you are looking for is a starting point. If it’s twenty people great, if it’s 200 that’s great to…
- Your “A” clients are those that have referred you business over the last twelve months …keep in mind those referrals don’t have to close – it’s the act of the referral that qualifies them to be considered an “A” member. So if I have 75 people in my sphere and 5 people have referred me one or more clients over the past twelve months – my “A” ratio is 6.6% - In other words 6% of my database is actively sending me referrals. Our “A” Ratio target for a beginning broker is a 10% ratio – over time we hope to raise this number to 20-25% and even as high as 50%. If you are under 10% your database is underperforming. The good news is that we are going to give you a path to turning your sphere into a referral generating machine…
- Why is taking control of your database so important? Well let me tell you about Dave Moore. Dave started after working 14 years as a log truck driver...Casio Address Book Of course Dave graduated to using a more sophisticated database There are many on the market today…here is a secret: It doesn’t matter which system you choose as long as you begin working your database….– The tools are secondary – the key is you…. Do what you can, with what you have, where you are. - T Roosevelt So Pick a platform in the next 7 days and assemble your database into one unified list. This is the single most important endeavor you will embark on in your entire career. Superstars master the mundane! As my friend Jeff Gitomer, author of the Little Red Book of Selling “People prefer to do business with people they know…And even when the competition has an advantage: “People still prefer to do business with people they know.”
- The 10:1 rule - Some agents have been in the business for years and still have not managed to build a successful sphere of influence. Why? Natural tendency to look for immediate gratification Our society has been trained to want things now, right now – not later… why 60% of young adults sleep with their phones… cultivating a sphere takes time, effort, and intention…smart operators play the long game. Keith Ferrazzi / Never Eat Alone - story of Jeffery Stamps and power of playing the long game…While a Rhodes Scholar at Oxford University Jeff met a graduate student at a party… student pulled out a black book. "What are you doing here at Oxford, Jeff?" the student asked. "I'm at Pembroke on a Fulbright," Jeff answered. The student made a couple notes into his book then asked more… "I'm going into politics and plan to run for governor of Arkansas, and I'm keeping track of everyone I meet," The year was 1968 and not long after Bill Clinton did just that…. he recorded every person he met each day and wrote down vital stats and then he cultivated those relationships over the long term.
- What is the best way to find a doctor, a restaurant, a lawyer? Always a recommendation… You want the inside scoop….it’s why yelp works – it’s why rating and reviews are becoming such an important part of our industry….people want authentic, real world information – they like marketing but they love referrals… When you are referred you gain the three C’s Creditability Connection Clarity Best of all they are a much higher quality client! (Read stats)
- Size does matter when it comes to your sphere. To grow your business create a new ritual – the one person a day ritual. 220 / 22 Sales To create this daily habit try using these - Four Easy Steps: Set A Daily Goal Create an Intake Sheet – Sandy Lighthall a 30 year real estate veteran and CRS State President came up with a great idea… Create a Visual Cue – Jerry Seinfeld, one joke a day - a big Red X through the day when he accomplishes the goal – his mission is to “not break the chain” Use a Script – For instance what if you just asked this question when you meet people “Hey would it be Ok if I added you to my list of friends that I send real estate market updates to once a month?” or one of these … (next slide)
- Review- Practice one of these on the person sitting next to you…. Felt a little unnatural right? A little stiff – now do it again A little better right… We are all actors learning our lines… and as salespeople language matters… Story of my son who didn’t speak till he was 3 ½ - autism – “Sure dad that would be great.” “Awsome dad” Guess what eventually he learned his lines – slowly at first but… When you refuse to learn your lines you are muzzling your career….don’t do it…embrace the language of sales..
- But…I am not a good conversationalist – I am introverted You are going to have to become an introverted extrovert =when I am at work - I am paid to “Turn it On”….. How? Become a master at asking questions…. Grow what you Know! 80/20 Rule – 20% Asking Question 80% of Your Time Listening One easy way to do this is to use the FORD technique Family, Occupation, Recreation, Dreams/Goals…Memory Markers What we are looking for is resonance – The ability to have a connection…a connection that will lead to a relationship. But here is where many agents stop and then ultimately fail – I call it the Fade….
- Have you met people at a party or function – and thought wow this is person is really cool – and then over time you can’t remember them? Classic Fade… Set a goal of just making one quality connection with someone at every event you attend Focus on them by using the FORD technique but take it one step further find a follow up item – a shared interest Find the opportunity for the next step “Hey Bob can I text you my Chiropractors name.” “Hey Jamy can I email you a link to the hotel my wife and I stayed at…” “Hey Steve can I give you a call next week about that meeting..” Let try it now… did you find a connection point? Of course this is the starting point – just the beginning. You see our job is to move relationships from being just someone who knows likes, and trusts you or someone you met at a party to someone who is actively referring you business.
- Print out your entire database. Sort the names by where the client lives – their home address, and by their last names. Technology is fantastic and ultimately you need to manage your database from a contact manager but technology can also be hidden behind, you can silence messages, ignore alarms, and just close the program when you want to be lazy…but with my Bible it’s not so easy – it’s a visual cue, a glaring reminder, that your most important business asset needs to be attended to… as the farmers say the cow must be milked… Think of this as your database bible. Keep this database in your briefcase or car at all times.. and when you have any down time pick up the phone – for instance: “Just drove by your house…” “Doing an open house in the area..” “Just showed a house in your neighborhood…” “Was thinking about you guys today…”
- Cleaned out my garage and I stumbled on my old coin collection – the one I started in grade school … it stopped me dead in my tracks and I sat in my garage and looked at it for what seemed like hours. For many REALTORS their database has been tossed aside a lot like my old coin collection – yet your sphere is a literal gold mine waiting to be tapped. One of the teams that I coach discovered this by making one call to each of their members they instantly tapped into 4 listing leads… Active Management –actively engaging your sphere of influence with a systemized, intentional plan. Step 1 - Call Everyone in Your Sphere of Influence -It doesn’t matter if it’s 50 or 300 you need to call everyone in your sphere of influence over the next 60 days. Why? People don’t refer friends and family to agents they don’t remember. (read scripts) Don’t get caught up in that voice that says but “I didn’t ask for the referral” Forget that for now….Just make the connection
- Contact Circuits – A mix of styles… Map it out on 12 month calendar – you don’t do what you don’t schedule… remove the excuses and procrastination… Numbers behind the circuits – let’s call them your reps… It Aint Easy!! Call Database – 2X a year all – A’s More Handwritten Cards 2X a year all – A’s more Networking Meetings 2-3 a week – A’s More Personal Messages 2-3 a day – A’s More Bulk Mail – 4X a Year Stop By’s – 2X a Year – A’s more
- By the way as you make the calls, you should have your contact manager open. CRM open, taking notes, classifying contacts by: A = Sent you a referral or multiple referrals B = Listed or Sold a Home through you C = Acquaintance, Friend, Family D = Delete … Uncomfortable calling them – remove from database Make one call first – “Hey I just going through my phone contacts today I don’t remember why we connected….” Think of this as a ladder – our job will be to move people up the ladder…from acquaintance to working with you as a buyer or seller to most importantly actively referring you to their family and friends. Don’t limit yourself to only people in your geographic area … you are global REALTOR not a local REALTOR – “Hey, remember I can help you find a good REALTOR anywhere in the country… with my network we can vet several agents and make sure to get you the best of the best.”
- Peyton Manning, the retired NFL Quarterback is a living example of the power of writing notes….Since childhood, Manning has jotted handwritten thank-you notes, and for years he has maintained a tradition of sending them to various NFL players retiring from the game. Writing handwritten cards is a lost art – do you remember the last time you received a handwritten note? How did it make you feel? Create that feeling today with one of your sphere members. People focus on first impressions but the last impression can be the way you are remembered.. The company HEX for instance which makes accessories for the tech equipment like IPADS and Tablet’s has sent 13,000 hand written notes to their customers? Why? Because they want them to have a positive interaction with the company and remember that it wasn’t just about a purchase it was about a relationship!
- During your calls – you should be looking for opportunities for networking meetings - Your sphere contains people that are network hubs. Network hubs are influencers that touch large groups of people and can potentially send you tons of business. For instance salespeople, business owner, entrepreneurs, doctors, attorney, accountants.. would all be examples of network hubs. Set a goal to begin having 2-3 networking meetings every single week. Simply invite network hubs to coffee, breakfast, lunch, dinner, or drinks. To make it more powerful try Doubling Up by introducing them to someone else in your sphere that could be a good contact for their business. For example check out this script: “Hey Jim, I met someone today that I think might be a good person for you to know and I was hoping I could set up a coffee to introduce you. Do you have sometime this week for a ten minute meeting?”
- I discovered some people in my sphere are more important than others Learned from a casual conversation with a friend of mine’s dad, Dave. You see Dave mentioned over dinner he was opening a carpet store. I told him that was great and I would be sure to try to send him some referrals, he enthusiastically thanked me, and I didn’t think much more about it… until I received a referral from Dave about a week later. A week later it happened again Dave sent me another referral this time for an investor selling a rental. That second referral made something in my “Pea” brain click…. A light bulb went off above my head that said –Obviously some people, like Dave, have the power to send me multiple referrals. But to earn those referrals I have to be “Top of Mind.” I found my targets – Business owners, sales people, entrepneuars, and influencers - “I want to start sending you more business this year – tell me everything new and exciting with your company!” So aside from my direct business – what else can I do to help you?” Sean Conlon Story – But what if you don’t have enough connections?
- Reach out through social media - - You were referred to me…. Can we get together for lunch… quick meeting Here are 10 Different Vendor Categories you should have an active referral network partnership with: 1) Attorney 2) Accountant 3) Plumber 4) Handyman 5) Carpet Person 6) Electrician 7) Pest and Dryrot Person 8) Painter 9) Landscaper 10) Lender
- Stop By’s vs Plop By’s – Leaving Car running literally and figuratively… Set a goal to stop by someone in your “A” group’s home or business twice a week. Be creative – Seeds for spring, pumpkins for fall, candy in February – One of the most effective stop by’s I have ever had was someone delivering a business book. They simply stopped into my office for a minute and said: “Hey Jim, I know you are real move and shaker, and I just read this incredible book and it made me think of you. I bought you a copy. I really enjoyed chapter 5 it really changed how I do business. If you get a chance take a peek and tell me what you think.” Reverse Stop By’s – Pies or small gifts that can be picked up at the office…
- Find ways to stay in contact with people – without necessarily selling. The key is the relationship. Without a relationships you have zero chance of a referral. Focus on the clients interests, accomplishments… create buckets of people with the same interests… Listening Posts – Google Alert for interests and top tier A-B group Treat FB as a giant CRM – Find life change and a reason to PM / Bushey Group – Healing Basket Set a goal to send 2-3 Personal Emails/Text/Private Messages daily.
- To be different and unique – consider doing a video update – which you can send as a link by text, or email, or post to social media. Imagine yourself on the screen for 10-20 seconds just reviewing the market highlights.
- Old fashioned bulk mail – should we do it? It’s common to do just listed, just sold, just pended… but often little or nothing comes from this – people see it as “junk mail”. Instead think about redirecting that to your sphere of influence to reinforce the fact that you are a productive, successful agent – examples… 4 X times a year once a quarter… New agents suffer from referral resistance – this helps! In short we need to establish contact circuits (next slide)
- Do you have a Safeway® Club Card or a Barnes and Noble® card? If you have any of these in your wallet, or any of a number of the “value added” you are now a part of someone’s data mining project. Data mining is the relatively new field of mining a company’s customer and client database for selling opportunities. In the old days, and to this day, companies like Safeway generally drive sales through mass-marketing - circulars in the newspaper…designed to raise a company to “top of mind” awareness among available consumers. Data mining, theoretically, could mean that a grocery store like Safeway could track data about your buying habits and hundreds of other markers every time you slide your card through the checkout reader. What if you use your data – to deliver a better experience and focus your marketing dollars …
- Kevin Kelly is the founding executive editor of Wired magazine – he pioneered the concept that any artist musician, writer, creator can create an amazing career with 1000 True fans (read excerpt) Are you True Fan of something? (What is it?) Are you building raving fans? Are you referral worthy? I learned this years ago when I met some clients that had their home listed as a For Sale by Owner – Bob and Alice… Alice came to the door in old fashioned hair rollers covered in a scarf and Bob watched TV while I conducted a listing presentation – eventually they listed their home, which I sold in less than 30 days.. They then went on to refer me 22 transactions over the next 5 years – how? I turned them into a part of my personal sales force… You have the power to open up these individual pipelines – and trust me a drip, will lead to a trickle, will lead to a stream, which will lead to a river of leads.
- Part of this process is called conditioning – think of it like training. Your clients don’t know they are supposed to send you referrals you have to train them to do so. The first step is to Ask for Referrals – Before, During, and After a transaction…Read Examples One of my good friends John Stalberger is a top producing REALTOR in Vancouver WA John used an important tactic with his sphere - like Lexus Auto Dealerships he used event marketing to reach a large group of people in a short period of time…. these can come in all shapes and sizes for instance (House Warming Parties – Next Slide)
- Highest likelihood of actual referrals – First 30 days after closing for both buyers and sellers… Create follow up plan – Next Day, 3 Days, 7 Days, 14 Days, 30 Days… “Something I offer all of my friends when we close a sale is a catered house warming party…I have an arrangement with (restaurant) we bring in all the food for the event. You just pick the date. One condition you have to invite me.” Other ideas: Buy the URL for their Address… Provide postcards of their home to mail to friends and family… With Sellers (click)
- Moving day – help out – with a team of movers or better yet – you! Send over food & beer Personalized Boxes are a great touch… All of your buyers and sellers become “B” Clients – invite them to become “VIP’s” by explaining you work by referrals. Also invite them to your client appreciation party…
- Make it simple (no sit down dinners) my coaching students have done everything from wine tasting to cupcake tasting, coffee samplers events… to pub crawls…. Find a wow factor (chef example) Another favorite is to simply buy tickets and tag on to other events for your “A” group - like a play, or a concert, or a sporting event …. Pick a Venue or event, schedule the day, and Invite a hand-picked group (less than 25). You may want to also consider a co-sponsor to share the cost and meet more people! The event should be very informal, just mingle with everyone, and at some point say something like (Read) Make it special and fun… give them something to remind them of event maybe have a friend act as a photographer….or provide a little mini-gift bag.
- Bamboo Rods story . My first thought was – how did I not know this? I had just spent a couple weeks with him as a buyer and well over a month in escrow. That was a lesson in getting to know my clients at a deeper level.. I missed a massive opportunity. You see John was an expert someone with an interesting, even fascinating art form – I should have done is asked him if he would have been open to doing a workshop for my “A” clients on what to look for in a Fly Rod - it wouldn’t have to been an incredible, special event, no one would ever have forgotten – 5 or 10 handpicked people would have been amazing. Now is this about real estate? No it’s about connection You see you have a group of people in your sphere that are experts in their field – some are even directly related to real estate T - Target – Target people - your own bamboo fly experts. A – Ask – Ask your expert. Kami Carlson story P - Produce – Expert can invite their own key sphere members–win! why not go wider? First way ask for referrals within your sphere or on social media / Build a Top 10 List and ask them
- Public Rewards – Don’t send coffee, deliver it, don’t send Flowers deliver them – preferably to their place of business…make it a spectacle…Co-Workers will naturally ask – why did you receive those? My REALTOR sent them! DeAnna Sickler and Dyan Lane closed 53 Million dollars in sales last year.. one of their ways of publically rewarding their clients is to provide a gift certificate to a local florist Social Reward – Announce the referral to the world through social media. This does two things – it thanks the person sending the referral but it also injects some competitive spirit into sphere members who may not be sending you referrals yet… “Thank you to Dave and Betty Johnson they sent me a referral for their good friends the Barney’s – they just closed on their first home! – My highest compliment is your referral.” Experiential Rewards – Don’t buy golf round buy golf lesson..One of the best ways to lock down a relationship is to share an experience with someone… …post the pics and let people know why the “A” group was invited. “Thank you to this incredible group of friends who have sent me a referral in the last twelve months!”