A favorite real estate mentor of what seems to be a million years (actually, 17--the ENTIRETY of my tenure as an AZ Commercial Real Estate Broker ), Saul Klein, whom you may know via the RealTalk/RealTown Network (and is just the coolest guy IRL as well) posted a great question on his FB page this morning:
"Real Estate is a business centered on relationships and relationship building.
Relationships bring you both direct business and referrals.
It is not cold Internet leads that will bring you ultimate success in real estate. For many chasing cold Internet leads is a costly fool's errand.
If history is any judge, your major success will come from the accumulation of referral business you do over your entire career. (emphasis is mine)
What is the best source of referrals for you?
Do you have a system for developing referrals?
If you do not have a system for developing referrals, why not?
What is your best tip for developing a good referral business?"
We are all looking for that magic bullet.
But it doesn't exist. Nope, nope, nope.
Not even for a lady who works magic DAILY!
As probably 90% of my business has been repeat and referral business since practically day one, I felt qualified to respond:
My best tip for developing a good referral business, though it's not particularly sexy or turbo-charged . . . is to just strive for excellence, ease and proficiency in EACH transaction, one at a time.
Clients will send their colleagues and friends; cooperating brokers will want to work with you again.
Even principals on the other side of the transaction will recognize your efficiency and might end up sending you business too!
This is the real magic.
Taking your time, mindfully doing what you do and doing it well, with groundedness, humor and your unique style.
One transaction at a time, one relationship built, one success, one problem solved, one after another . . .
This is not a sprint, and if you know anything about developmental psychology, just like Piaget's developmental steps, you CANNOT SKIP ONE and not have to go back and deal with it again later.
Ditch your impatience and ego, fully engage with brain, creativity and heart--and what you build over time will endure through market ebb and flow, through crashes and peaks, chaos and calm.
You overnight success, you.
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