In the highly competitive world of commercial real estate (CRE), client referrals are the gold standard for growth. According to Buildout's 2024 DNA of CRE report, 40% of brokers cite past client referrals as their most effective prospecting method—outpacing cold calling and other traditional strategies. This isn't just a business advantage; it's a human connection rooted in trust, experience, and exceptional service.
If you’re ready to turn your referrals into a thriving growth engine, Buildout's integrated Rethink CRM and marketing automation tools can help you elevate client relationships while simplifying the process. Here’s how.
Referrals come with built-in trust. Studies show that referred clients have a 37% higher retention rate and 16% higher lifetime value compared to other acquisition channels. These clients are not just customers—they’re your ambassadors, opening doors to new opportunities through their networks.
But here’s the catch: while 91% of clients are willing to provide referrals, only 11% of brokers actually ask for them. Why? Often, it’s because brokers don’t have a system in place to nurture these opportunities.
Rethink CRM is designed for CRE brokers by brokers, focusing on intuitive tools that make referral management and client engagement seamless.
Marketing Automation That Amplifies Your Efforts
Your marketing materials should work as hard as you do, reflecting your professionalism and making an unforgettable impression. Buildout’s Showcase product helps you create stunning proposals, property websites, and branded collateral in minutes.
Also, don’t forget about the other important marketing, visual media. And we’re not just talking about iPhone photos but media that truly wows. Make a lasting impression with high-quality visuals, from drone footage to aerial 360 renderings, all seamlessly brought into your marketing campaigns.
Building a referral program doesn’t have to be complicated or costly. Whether you reward clients with simple thank-you notes or tiered incentives, Rethink CRM helps you track and manage these efforts effectively. Use data from your pipeline to measure the success of your program, identifying what works and refining as you go. The goal is to generate more client referrals and exceed your revenue goals [read a related blog post here].
It’s important to note that referrals represent the human side of your growth engine—where relationships and technology meet to create long-term success. We’ve highlighted a lot already around how Buildout is here to help you with your growth engine, but we can also support your human side. Download a copy of our guide that helps to walk you through building your own client referral program.
If you are thinking, you have the client referral program already established, then make sure to check out our growth engine checklist to ensure your tech is enabling your program correctly. Click here to get your Growth Engine Checklist.
Let Buildout empower your brokerage to thrive in 2024 and beyond. Schedule a demo today and see how we can help you grow your book of business, one referral at a time.
