In the real estate and lending business, we all work for referrals.  My business over the past 12 years has been built entirely by referral. I appreciate them, work hard for them, and like to think that I deserve them. 

I used to get this all the time, let me know if it sounds familiar: "Hey Bob, good news!  I was talking to a friend of mine and they said they really want to refinance/buy a new home.  I told them you were the best, and gave them your card."  To be truthful, the people call no more than 50% of the time.  What opportunities are lost?  How much money? How many clients end up working with less qualified, or less scrupulous mortgage advisors? 

I have made it a point to educate my best referral sources.  People with the best hearts, who want the best for their friends and family members.  Now, I ask them to "sing my praises" and ask permission for me to call them.  If I can call them, I can ensure at least one contact between us.  It's infinitely more effective than me waiting and hoping that they call me.

So here's my question to you...do you refer people the right way?  Do you get permission to give their contact info to the people who can serve them?  Here's what I say:

"Say George, do you have an excellent realtor that you are working with?" Ususally, the answer is "Well, I get listings emailed to me by someone (they usually can't remember the name BTW). 

I say "Listen, Lisa is one of the best realtors I've ever come across. With your permission, I'll have her call you within the next 24 hours.  What is the best number for them to reach you?"

Can you see the difference in value between this and "Here's Lisa's card, give her a call."?  It's night and day, and the only way to refer someone you really WANT to get the business.  So, are you giving referrals the right way?  Shouldn't you be?