Every agent knows the importance of referrals in building and expanding your customer network. You’ll find all kinds of scripts, tips and tricks online for asking for referrals – it ranges from tips on choosing the right time to request a referral, to smart psychological tactics you can use, to ways to overcome your own. fears of rejection. In other words, it can be a lot of work!
Part of that is because real estate is not like most commodities. If someone tries out a new restaurant and likes the food, they’ll tell their friends uninvited (and chances are friends will check it out). But even if someone has a great home buying experience, they may not know anyone who is looking to buy or sell.
All of this is true for the primary domestic market. Second homes and second home customers are a little different.
Secondary owners want to share the dream
When someone buys a second home, it is often the fulfillment of a lifelong dream. It is an exciting and rewarding experience, and people are eager to share it with their friends and family.
Unlike a primary residence, a second home is a “plus”, something that can be purchased at any time, if you can afford it. And a little FOMO might be enough to pique the interest of a potential buyer. It’s similar to how Tesla seem to be mushrooming in some neighborhoods – Bob sees Joe’s new Tesla across the street and wants one too, then Lara sees Bob’s, and now everyone. has a Tesla.
What does this mean to you? This means that one second home customer can turn into several, without resorting to all the tips and tricks you might need to get referrals among primary home buyers. It only takes one client to acquire the dream of owning a second home (literally). They invite their friends over to their beautiful new second home, and these friends want to create the experience for themselves. It is a benchmark in the making! The cycle repeats and your second home customer network expands.
Start selling second homes
Here are three ways to reach more buyers.
- Become a second home expert: Understanding the market is an important first step. How is it different from the primary market? Who are your potential buyers? Get answers to questions your clients will ask you in our Second Home Ownership course (and earn CE credit!). Course availability varies by state.
- Find your audience: Sort your contacts into potential or potential second home buyers. You could have a category for retirees, families who love to travel, or clients who have expressed interest in a second home at some point. From there, you can target potential prospects. (The Pacaso Playbook for Agents offers strategies for organizing your database and scripts for contacting you.)
- Pacaso partner: The easiest way to get your buyers to second homes is to work with Pacaso. Pacaso’s fully managed condominium model makes secondary home ownership more accessible and takes the hassle out of traditional ownership. Your client can buy the ownership of a luxury Pacaso home for a fraction of the price, giving many buyers access to the second home they’ve always wanted. Agents earn a 3% referral commission plus an equity bonus, and Pacaso does all the fieldwork. It’s a quick and easy way to earn commissions and delight your second home customers.
Pacaso is the modern way to buy and own a second home. We bring buyers together to collectively buy and own a second home and provide a fully managed end-to-end service. We’re making second home ownership possible and enjoyable for more people.