Every real estate agent and broker wants a high referral rate. Higher rates mean higher client satisfaction, but is operating on these referral rates alone enough?

Not if growth is the goal. If you are dealing with a market as opportune as the Boise metro area, growing your business, entering new sectors, and achieving success should be your target. Referrals alone may be enough in a flourishing market, but any agent or broker will want to maximize the effectiveness of their business.

This means focusing not only on achieving that 100% referral rate but letting any measure of success drive a marketing campaign that will lay the groundwork for consistent growth and enhanced reputation.

Here are three reasons why referrals should not be your only marketing strategy:

1. Building a safety net.

   Marketing can be a great way to stay ahead of changes in any housing market. Through consistent research and the maintenance of an online and social media presence, you will be prepared no matter the landscape of the market. The community will recognize your name as a reliable and trustworthy presence that they can turn to for any housing needs, and the leads generated from consistent networking will help drive growth even during slower periods.

2. Expanding your influence.

   So you’ve had enormous client satisfaction—you’re going to limit that growth to who your clients are talking to? Social media and online marketing allow you to share client testimonials and experiences that generate a positive connection between your brand and success. When potential clients consistently see how you have worked for others, they will be drawn to you as an honest and trustworthy agent or broker that has their best interests at heart. A consistent marketing strategy will spread your name and success across the community to a wider client base.

3. Maintaining team success.

   An effective team means a growing team, a team that works together to generate leads, find potential investors, and make a reputation as a group that is great to work with. Marketing spreads this message to a broad clientele. Whether you are placing your ads on TV or online, maintaining a consistent marketing strategy will bolster the reputation and success of your team, driving talented individuals to work with you. You want a recognizable community brand that has the resources to give every client the personal touch, and marketing for team success will help you get there.

Housing in Idaho is consistently booming, but no matter the market conditions you can keep income stable, business growing, and your team working with a consistent marketing strategy that goes beyond the referral-only model. Client satisfaction is essential, but your marketing cannot depend on clients alone. Keeping up on networking, social media, and lead generation will ensure any real estate agent or broker keeps the growth on their side.