I'm the Founder & CEO of Felix Homes, a tech-enabled real estate brokerage based in Nashville, TN. At Felix Homes, we're on a mission to be the most financially responsible way to buy or sell a home. Prior to starting Felix, I was a venture capital investor in New York City where my primary role was sourcing early-stage technology companies.
Quoted in The Penny Hoarder (https://www.thepennyhoarder.com/)
“A seller in a buyer’s market needs to understand that they may not get an offer at their current list price,” said Tyler Forte, CEO of Felix Homes. “Furthermore, sellers should be prepared to keep the buyer happy, whether by completing necessary repairs at the buyer’s request, or conceding to pay for certain closing costs such as title and escrow.”28 January 2021
Quoted in The Simple Dollar (https://www.thesimpledollar.com/)
“I’d also recommend a personal letter to the sellers with a photo of you and your family,” says Tyler Forte, the CEO of real estate brokerage based in Nashville, Felix Homes. “These small gestures can go a very long way in the eyes of a seller.”28 January 2021
Quoted in Marketing Sherpa (https://www.marketingsherpa.com/)
Quick Case Study #4: Gift card increases referral rate from 1.4x to 2.3x for real estate brokerage by creating a process-level value prop
One of the most successful marketing tactics for Felix Homes has been focusing on the last stage of the customer journey – creating a process-level value proposition that encourages current and former clients to tell their friends and family about the business.
“If you offer a product or service that provides value, this word of mouth should come pretty naturally,” said Tyler Forte, CEO, Felix Homes. Still, the team explored if there was a way to encourage this natural referral behavior in a way that reliably impacted its growth. They tested different ideas such as a thoughtful closing gift, an Amazon gift card if the customer shared their review on social media, and even a coupon that they could give to a friend or family member for $250 off their listing fee.
The best-performing tactic was having clients share a review on social media. “After all, word of mouth can also take a digital form on Facebook through friends sharing helpful tips and recommended companies in addition to cat memes and pictures of your nephew’s birthday,” Forte said.
Before they provided past customers with any incentive, the real estate brokerage was already getting organic referrals. For every one client, the client would refer 1.4 new clients. Once they implemented a way to incentivize clients to be advocates, they got 2.3 new clients in return for every client.
“The best advice I have for any marketers looking to start a referral program is to never underestimate the power of a $20 Amazon gift card,” Forte said.28 January 2021