45 min listen
Building Strong Referral Networks in Luxury Real Estate with Patrick Ryan
Building Strong Referral Networks in Luxury Real Estate with Patrick Ryan
ratings:
Length:
44 minutes
Released:
Apr 20, 2022
Format:
Podcast episode
Description
Navigating the Ups and Downs of Luxury Real Estate:It’s no secret that the landscape of the real estate industry has changed over the last two years — especially when it comes to luxury properties. While adjusting to market conditions can be stressful at times, one way to mitigate this stress is to constantly work on expanding your sphere of influence and building out your referral pipeline. If the pandemic taught us anything, it’s that out-of-market buyers are now more willing to enter into other markets, which is why it’s critical that your referral pipeline include out-of-market real estate professionals who may be looking for referral partners to help their clients navigate a move into your specific market.A Healthy Referral Pipeline Needs Constant Attention:As a luxury real estate professional, you should always want to improve the way you do business. That could mean improving the experience you provide your clients with, enhancing the print materials you use to help market luxury properties, or constantly nurturing your sphere of influence to ensure that you’re top of mind for all things luxury real estate related. In order to build a strong luxury real estate referral network, you need to build strong relationships with every individual who’s part of that network.So how do you build on these relationships (and create new ones) in order to grow your sphere of influence? Attending conferences and other out-of-market industry events is one way to meet up with contacts face to face, and even make new connections during the process. Remember, traveling to see your contacts is a business expense, and an important one at that. Make the time to visit out-of-market referral partners as frequently as possible to build on your relationship with them. Additionally, remember that your referral partnerships should never feel one-sided. Giving referrals is just as important as successfully receiving a referral, so be sure to reciprocate referrals in order to establish a stronger connection with your partners.Topics and Questions You’ll Uncover During this Episode:How the pandemic affected the way we buy and sell homesWhy outbound destination markets are so important in the upper tierThe importance of constantly nurturing your sphere of influence to promote future growth How to effectively build out your referral network to expand to new marketsWhy setting expectations with partners is the key to a healthier referral pipelineResources Mentioned within Episode:Official Website - Genuine Real EstateContact Patrick RyanConnect with Patrick Ryan on LinkedInThe Institute for Luxury Home Marketing
Released:
Apr 20, 2022
Format:
Podcast episode
Titles in the series (72)
Luxury Staging with Lori Pedersen and Kofi Nartey: We are joined by Lori Pedersen and Kofi Nartey. Lori is a highly sought after stager in the greater Toronto area, and Kofi is a luxury real estate agent based in Los Angeles, specializing in finding the right home for high profile athletes and celebrities. They bring their unique point of views and real estate expertise to discuss the strategies and steps to bringing a home to market. by Estate of Mind — The Art of Selling Luxury Real Estate