The story goes that a little girl was watching her mom prepare the holiday ham. As she watched, she wondered why her mother cut off both ends of the ham before putting it in the pot, so she asked. Stumped, the mother realized that she didn't know. She replied, "I'm not sure, sweetie. I'm just doing what I saw my mom do each year as she was preparing the ham."
Intrigued, the little girl and mom decided to call the grandmother and pose the question about cutting off the ends of the holiday ham. Grandmother admitted that she didn't know the exact reason, either. She replied, "I've just always prepared the ham the way my mom did it." So their next call was to the great-grandmother. When they asked her about her method of preparing the holiday ham, she laughed for a solid minute. Then she solved the mystery by saying, "I was forced to cut the ends off the ham because it was the only way I could get it to fit the small pot I had!" Each time I hear this story of the holiday ham, I can't help but think of the parallels that exist in the real estate and mortgage industry where the "cutting off both ends of the ham" is represented in the pressure to actively cold call, prospect door-to-door, and run the traditional ad that was effective for the broker back in 1970. I think we can all agree that the landscape of the mortgage and real estate industries has changed. Things look much different today than two or three years ago - much less two or three decades ago. It's unfortunate that much of the information we receive in the area of marketing and growing a business is based on what's "traditionally" been done rather than on what's actually getting results in today's world of real estate. Experience has shown that gimmicky taglines and glossy two-page spreads in the local real estate magazine are not enough to grow a thriving business. The days of surviving as a "C" player in an "A" market have changed. To succeed in today's world of real estate you've got to learn how to become an "A" player in a "C" market. The power of communicating to the masses as a stranger has been replaced by the importance of effectively communicating to a smaller group as afriend. It's no longer about the ad - it's all about the relationship. That's why I encourage members of the By Referral Only Community - and I encourage you - to consistently nurture relationships with the people in your sphere of influence. This means putting a system in place so you're in consistent communication with past clients and others who already know you, like you, and trust you. Your communications don't have to be elaborate or expensive, but they do have to be consistent and meaningful. Here are some ideas:
- Quarterly touch-base phone call where you invite them to update you on family news (of all these ideas, the phone call and personal contact is my favorite).
- Client birthday card (and a card for each of their kid's birthdays for a real "wow").
- "Happy Anniversary in Your Home!" card.
- Thanksgiving card.
- Annual review of their home's value/mortgage/real estate market.
- Annual client party.
- Annual client gift.
You'll notice that there are no calendars on this list. Or flower seeds, recipes, sports team schedules, or refrigerator magnets with your photo on them. If you put just two or three of these options in place and keep them in place, then you'll be top-of-mind and the first person your sphere thinks of when they - or someone they know - can use your help with buying or selling a home. They'll think of you as a friend, they'll introduce you to their friends, and you'll generate more referrals and more signed contracts, more closings, and more commission checks.
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