I'm so excited today to have my wife Stevi here.

• Statistics show 63% of sellers and 38% of buyers found their real estate agent through a referral from friends or family, indicating the power of referrals.

• Building a referral-based business has a higher return (3 referrals to 2 closings) compared to other marketing and advertising methods.

• For agent-to-agent referrals:

- Know your market's feeder areas and migration patterns

- Diversify social media content to engage potential referral partners

- Get involved in real estate organizations and events

- Attend industry conferences and masterminds

- Nurture your referral partner database like top clients

• For sphere of influence referrals:

- Have upfront conversations about expecting referrals

- Host client events and allow attendees to bring guests

- Include referral reminders in your engagement plans

- Offer workshops/classes and partner with other professionals

- Incentivize referrals with gifts, recognition, and rewards

• Set goals for incoming and outgoing referrals each year and review them regularly.

• Implement at least one new referral generation idea within 20 days while it's fresh.