Are Referrals In Your Real Estate Business?

Coaching For Real Estate Agents

Are Referrals In Your Business?

The NAR just came out with a report that says that 93% of the business being done in Real Estate is being done by only 7% of the Real Estate Agents.

That is pretty shocking taking into consideration that there are over a million members in the NAR.

So much for the 80/20 rule!

As a consultant and coach, I ask you;

Are you in the 7%?

Do you want to be in the 7%?

What type of marketing is the 7% doing that other agents are not doing?

Well, it is networking.

Most of the business these Real Estate Agents get is from referrals.

That should not surprise you.

When buyers and sellers are asked how they chose their Real Estate Agent between 70-80% of them responded that they knew their Real Estate Agent or one was referred to them by someone they knew.

People do business with those they know, like and trust. Pure and simple.

Yes, you can get to build relationships through door knocking and cold calling but that is definitely taking the most difficult approach. I do not like to door knock or cold call. And I find that we as people will find a reason not to do the things we don’t like to do. So then excuses take form and we get stagnant and do not produce thus placing us in that 93% of the Real Estate Agents not getting the results they had hoped to achieve.

So are you doing business by aiming at the wrong target?

Networking is the way to go in boosting your business and creating the loyal following up clients who will refer to those they know need your services.

Target your sphere of influence. That is the key to effective marketing.

Real Estate Agents I coach start out by telling me that they don’t know anyone, that they don’t have a sphere of influence.

If you are in that situation I can show you how you DO have a sphere of influence and no matter how small it is I will teach how you can make that small influence become a large influence very quickly.

The key to building your referral market is by building relationships and then maintaining those relationships over a lifetime.

How do you develop a relationship?

*Stay in touch on a consistent basis through a variety of mediums.

*Give something of value each time you communicate.

* Nurture your relationship.

* Call them on their birthday to wish them a happy birthday.

* Monthly contact is just right.

* Go beyond the regular real estate info and assist with day to day needs.

* Ask what you can do to help them.

* Give important tips in a postcard like reminding them to change their clock back.

You can also email me at Katerinag@bellsouth.net for coaching and consulting information for Real Estate Agents. I am a Realtor and a Business, Career, Health and Personal Coach, Real Estate Business Consultant, trainer and speaker. Yours In Real Estate, Katerina

Coaching For Real Estate Agents