Case in Point: Referrals in a Changing Market

Q: How has creating a referral-based business prepared you for a changing real estate market?

George J. Schuler

RE/MAX Advantage Realty

www.SoldOnGeorgio.com

Years in real estate: 8

Region served: Greater Asheville, North Carolina area, including parts of Henderson, Haywood, Madison counties

Years with Buffini program: 3+

Projected sales for 2006: $7,500,000

My market has changed due to the fact that some of the houses are staying on the market a little longer and that so many people have gotten into real estate. Because of these trends, some agents coming into the business aren?t going to make it, and the rest of the competition is going to be stiff. The Buffini system gives me a multifaceted way of making myself a distinct player in the game. Through Brian’s system, I’ve built trust with individuals?about 100 on my ?A? list…and those people are calling me with referrals.

Having a referral-based business is all about relationships and providing a service to my clients. Building relationships is like having an extended family. Because my clients are treated like family, they are not only willing, but eager, to refer me to family and friends.

Since the market has changed over the years and our society in general has become less personalized, these relationships help break through barriers. But like having a family, a good relationship with those members requires consistent work and is not always easy.

Let?s face it, we all ask for referrals of some sort every day. However, my clients who have been receiving my service as well as helpful information relating to real estate while enjoying our deeper relationship will continue to support my business with referrals. When times get tough, a referral is more important than ever.

Angelina Feichko

Sold by an Angel Real Estate

www.soldbyanangel.com

Years in real estate: Almost 7

Region served: Weaver, Davis and Salt Lake counties in Utah, including the greater Salt Lake City area

Years with Buffini program: 2

Projected sales for 2006: $32 million

As the principal broker, I am new to my own business since having opened this company last November. Our market is completely opposite than much of the country. Since March of 2005, the region has really become a seller’s market?there are more buyers demanding than sellers making homes available. I’ve been working my database of nearly 400, especially my 42 A+ clients, for referrals of anybody buying or selling and letting them all know we need listings.

By working the referral system in this upside-down situation, I’m putting myself on top with past and present clients. That way when any of them hear the words ?real estate,? the first thing they say is ?Sold by an Angel!? I’ve literally had people call me saying they want to be part of my community because they’ve heard I throw great parties. We keep them on our database by working the Pop-Bys, providing tokens of appreciation, monthly mailings, birthday and other greeting cards and all the other tools Brian has provided. We’re getting a team Pop-By ready for Easter where we will all show up at a client?s house in a minivan and jump out with our Easter bunny ears, delivering an Easter egg hunt directly to the client. This means I’m beginning to serve the children of my clients, and I hope to be serving their grandchildren as well.

Dan O?Dell

Realty Executives

www.groupodell.com

Years in real estate: 11

Region served: Kansas City metro area

Years with Buffini program: 5

Projected sales for 2006: in excess of $35 million

We continue to work Buffini & Company?s referral systems as best we can on a day-to-day basis, stressing building relationships, building a well-defined plan of attack, and tapping four nontraditional real estate markets with an eye for our future. We’re being referred by members in our circle of influence, our past clients, our corporate partners who we’ve worked with in relocation services, as well as our vendors. We’ve developed a unique marketing plan for each of those four entities. These plans have helped us not only develop 200 solid inbound referrals a year, but we are referring nearly 1,000 out.

We’re exploring new and traditional practices to be there in a big way for our network. We’re doing a trolley tour of urban lofts and condos with key clients who are expressing interest in those properties. We have a couple of client parties a year, even hosting home improvement workshops.

We aren?t doing any promotional ads or using conventional markets, but our business continues to grow steadily because our referral system and niche markets are our gold mine. Our largest generator of referrals is our vendor group?we bring our vendors in to breakfast meetings six times a year to learn the referral system. Some have actually gone to Brian’s Turning Point RetreatTM, and a couple are even a part of ClubNetTM Coaching.

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