Leading the Way to New Business

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An interview with Buffini & Company ClubNet^TM Coach Melissa Winter

By John Voket

Why are so many agents today worried about where their next lead will come from?
Real estate has always been cyclical, and we've recently seen a change-which always shakes people up. I'm hearing that inventory has increased and that buyers are more finicky because they have a lot more to choose from. Some buyers have a heady sense of confidence, while others are fearful of fluctuating interest rates. They want to feel confident that equity will cycle up quickly from the purchase price. When this happens and things move slowly, many agents begin to worry, and this worry frequently turns into inaction on the part of the agent. In these times, many agents who think they work by referral learn they are actually working by word-of-mouth. In reality, we are in a "normal" market now-one that is great for professional salespeople. Agents get sloppy when the market is hot, but those who have built relationships and consistently stayed in contact with their clients are doing just fine!

How does working by referral alleviate this scenario?

Word-of-mouth agents worry because they are not in control of their business. Working by referral means that an agent is working proactively to make things happen. The longer they've worked this way, and the more consistently they work this way, the more predictable their referral stream, and likewise, their income. While many other real estate agents have complained this year about a down market, other proactive agents have continued to do what they do best: they stayed true to the Buffini Referral Systems that work in any market; they focus their time and attention on their best clients; they proactively ask for referrals; and they provide quality service to their clients.

What would you say to an agent in need of generating leads?

Call your database! Don't you remember the weeks you spent working with that young couple to find them the perfect house? They were so grateful to have an expert walk them through the fears that came with buying their first home. They were glad you referred them to a quality lender who helped them figure out that buying instead of renting really was feasible. Why did you give them the keys to the house and a fruit basket and never talk to them again? Call and check in with them. Ask if you can Pop-By to see the improvements they've made to their home and drop off a small gift. When you see them, ask if they know of anyone else who could utilize your services. Now don't let another three years go by before you call them again. Stay in touch with them and do the same with your other great clients from this point going forward.

Why are these activities market-proof, so to speak? How do they generate leads in any market?

Face it. People are going to transfer or retire, get married or have a baby no matter what the market is doing. There is someone in your community right now who needs to downsize or upsize-the question is this: When that person gets ready to buy or sell and they ask their friends for a recommendation, will those friends remember your name? Would they know how to get a hold of you? If you are proactively connecting with the people in your database on a regular basis and provide quality service as an expert in the real estate field, even long after you've cashed that commission check, you will create advocates who tell others about you.

Please provide us with an example of how working by referral translates directly to increased business.

One of the people I coach had just moved to a new real estate office, so she asked her clients if they wanted to stop in to see her new digs and pick up a pie for the holidays. She even offered to deliver a pie for anyone who couldn't make it that day. Well, as a testament to her amazing service, magnetic personality and true Midwestern heart, 70 people RSVP'd to say they'd be stopping by! All of a sudden, she realized she wasn't just having a pie pick-up, she was throwing a client party! Past clients she hadn't seen in years came out of the woodwork to reconnect and pick up their holiday pie. The next year? She threw a "Second Annual Pie Party." Her business partner told me later, "The first to show up and the last to leave was a couple I had sold a house to 11 years ago." The pair collected five referrals at the party and ended up closing four deals with commissions of over $25,000 each. Not bad for $1,500 worth of pies, party supplies, and the opportunity to wish her favorite clients-many of whom she now considers friends-a happy holiday season.

Discussion Forum

Topic	Posts	Last Poster
NEED AGENTS / & REFERRALS	31	BringingYouHome
Real Estate or Marriage?	10	Tears
"Ethics"	4	robertjgaffney
Need Agents	1	grits4me
INEXPENSIVE ADVERTISING WITH RESULTS	1	Tears
Can anyone explain me about foreclosure real estate investing????	8	CentralTexasBroker
Commercial Property Scouts	5	randrews45
Investments	1	jeannaf
Now I have a web site how do I get google etc to recognise it?	8	yxvayns
Life Outside of Real Estate	2	vegasnforeclosurecom

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