Special offer

The Closing is an Opening--Using the Success of the Event as a Springboard for future referrals

By
Services for Real Estate Pros with Topkins & Bevans-etopkins@topbev.com

I keep careful records on where my business comes from. I am an active blogger. I write a weekly post in the weekly newspaper for my hometown, Milton, Massachusetts. I went to a good college and a good law school. All this being said, fully 74 per cent of the business I did in 2010 was from "referrals" In other words, basically 3 out of the 4 engagements in which I was involved started with a former satisfied client or a referral of a former satisfied client.

This is powerful marketing information for me, a Massachusetts real estate attorney, with over 42 years of experience. And with this information in mind, it has occurred to me that is extremely important to my continued success as a professional to stay "engaged" with the Buyers, Sellers, Realtors and Loan Originators who were part of the "home team" effort that produced a successful closing.

With Buyers, I always make some little presentation at the closing itself. We have given out golf umbrellas, wine and books on home maintenance advice in the past. I am currently in the process of designing a small blanket for use on a couch or chair, with my firm's logo thereupon. Color on color, not a contrasting situation. While my clients are snuggly watching their flat-screen, they are embracing me !!

Right after the closing, I sit down and write a short, handwritten note to the Buyer. I try to put something in the note that proves I was paying attention to them when we were conversing at the closing. I have made an arrangement with a local florist to give me a substantial discount when he delivers a house plant or tree to a Buyer. He makes the delivery, himself, and gets a chance to engage the Buyer for possible future business.

With Realtors and Loan Originators, I take a slightly different approach. I try to furnish these professionals with useful information from time to time. I will buy 20 editions of the Milton TIMES and send one to Realtors and Loan Originators who may enjoy the subject matter of my post. By sending them something where I am "in print", I am telling them that I am the expert they need to work with in the future.

While not all of these techniques work, I do belief they show effort and concern. Having someone you have worked with feel that you still care, even after you have finished your work and gotten paid, speaks volumes In any event, it has worked well for me.

Bob Jakowinicz
National Realty Centers Livonia--Bob Jakowinicz - Livonia, MI
Michigan Real Estate Agent-- MI Real Adventures

Elliot-I think when someone is just starting out it is a bit tough to get a lot of referrals.  Over time of working hard and proving ourselves we get more and more and advance to the next level.  I agree then it's time to really have a solid system to keep them coming and growing.

Feb 20, 2011 01:12 AM
John Durham
Durham Executive Group - RE/MAX/Results - Woodbury, MN
MS, MS, ASP, ARS

Elliot,

Sounds like a great system and undoubtedly it works with a 75% referral business going. I'm working on getting to the 75 % mark.

Feb 20, 2011 01:36 AM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

I think you are smart to make the connection with a hand written note - people will always remember that!

Feb 20, 2011 02:06 AM
Larry Lawfer
YourStories Realty Group - Newton, MA
"I listen for a living." It's all about you.

People love the personal touch.  I know when I called you about a real estate trust issue a week or so ago I truly felt welcomed when I asked you if I was interrupting you and your responded "It is never an interruption to talk to a good friend about real estate, how can I help?' 

Although the client went away from us, actually went away from selling all together, I will remember your warmth and charm and you will get the next call too.

Feb 20, 2011 02:58 AM
Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Great strategies, thanks for sharing. Referrals are definitely a measurement of client satisfaction.

Feb 20, 2011 03:00 AM
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Elliott, you are not only one smart cookie, but you are genuine, which shines through all you do. And you certainly have given me some things to think about. I know I do some, but not enough. Silly me!

Love the blanket idea, wow!

Feb 20, 2011 04:37 AM
Pat Laracy Baker
Realty Executives Boston West - Holliston, MA
Pat Baker Dream Home Maker

Elliott,  Your blog is very thoughtful and good suggestion for expanding our networks.

Feb 20, 2011 08:50 AM
Elliott S. Topkins
Topkins & Bevans-etopkins@topbev.com - Boston, MA
Massachusetts Real Estate and Title Atty

Thanks everyone for your comments. They were thoughtful, and I appreciate the care most people take to get back. I am back in the ActiveRain swing after taking a few weeks off to recharge my batteries.

Feb 20, 2011 10:26 AM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

HI Elliot - Your success illustrates the saying - "the best source of new business is old business".

Feb 20, 2011 10:42 PM