5 Strategies For Generating Referrals Through Social Media

As a mortgage agent, referrals are essential for growing your business. When it comes to getting the word out there about your services and making sure potential clients can find you, social media is an absolute must. An active social presence will be the key to helping you build relationships, create customer connections, and act as a bridge to generating referrals.

Why Are Referrals Important?

 As a mortgage agent, referrals are incredibly important for growing your business. Referrals can be the difference between closing a deal or not and they provide you with valuable feedback that can help you improve your services. Plus, when people refer others to you it shows that they trust and believe in what you do – which is something money just can’t buy!

We’ve rounded up five strategies to help generate referrals through your social media platforms: 

1. Stay Active: The first step to generating referrals through social media is to be active on the platforms where your target audience hangs out. Post regularly, engage with followers, and share content related to mortgages or home buying tips so that people know who you are and what services you offer. Increasing your activity on social media will mean increasing your visibility to potential clients as well - acting as a great resource to generate leads and gain referrals from new clients. 

2. Leverage Your Network: Reach out to your existing contacts on social media who may refer you to someone in need of a mortgage. This could be friends, colleagues, past clients, or family!  You can also join relevant social media groups and participate in discussions related to mortgages. This will help expand your network and increase referrals for your business. 

3. Referral Programs: Creating an incentive program that rewards people who refer you to potential clients is a great way to spread the word about your business and motivate past clients to take action. You can offer discounts or gift cards for successful referrals, which will encourage people to recommend you more often. 

Promoting this program on social media is also important; post regularly about it so that people are aware of the opportunity and can take advantage of it when they think of someone who might need your services. 

4. Share Testimonials: As a mortgage agent, it’s important to build trust with potential clients. Positive reviews from existing customers can go a long way in helping you do that! Sharing the experiences of happy customers on social media is an easy and effective way to show potential clients why they should choose you over other agents. 

Ask your past clients if they would be willing to leave a comment or review on one of your posts - this will give potential clients the opportunity to see what others have said about working with you, giving them more confidence when making their decision.

5. Pick Your Platforms: Choosing the right social networks is key to building your referrals on social media. Different social networks have different user bases and appeal to different audiences, so it’s important to select the ones that are most relevant for your business. For example, if you want to target Gen Z then platforms like Instagram or TikTok might be a better option than LinkedIn or Facebook. 

When used correctly, social media can be a great asset to marketing and expanding your client list. Try applying any or all of these strategies to help generate referrals and new leads to grow your business! 

If you’re looking to take your marketing a step further, our services at OpenHouse offer all the tools you’ve been looking for, in one place. We offer monthly, done-for-you social media posts to help keep your business active and professionally presented on social media. Get in touch with us today to find out how we can help make it happen!