I consider referrals a blessing! A colleague of mine called and said someone she worked with in the past just referred a $700,000 buyer from CA! The buyer is in need of utilizing her 1031 exchange. She lost out on 5 homes in CA last week! Frustrated and angry she flew into Austin today and I’m sure will be amazed at what her money can buy! What a blessing for my colleague, Chrissy.
Why was she chosen to work with this buyer? It’s easy to understand. She appreciates each client referral and offers them superior customer service. People like and trust Chrissy because she’s smart, fun and has systems in place. She knows Austin and works hard for her clients. If you extend a referral to Chrissy she will go 150% to make it a smooth transaction. I know because I’ve referred clients to her and they love her and thank me profusely for the referral!
I’ve learned referrals are an important part of our business, if we concentrate on giving and receiving them our business multiples. This quote from Peter Druck resonated with me when I first started in real estate: “The purpose of a business is to create a customer.” As in any business the emphasis should be on the customer. Without the customer we don’t have a business.
When choosing an agent to refer my clients I look for a good match first and foremost. It really comes down to my clients needs. Some clients want a very detailed accounting of every step in the transaction and communication is paramount. Some don’t want to be involved in the minutia but want to know you have their back and are handling things for them. They like a brief overview periodically. Either way I always keep in mind my referral is a reflection of myself and must be a good match.
When I began in real estate I always sent referrals through our company relocation but was not happy about the mandatory commission fee charged and the process. I discovered Active Rain and I learned more about agents from reading the posts they wrote. I sent a few referrals through and after negotiating a reasonable referral fee found my company didn’t want to honor it. I stood my ground and told them I won’t charge any referral fee and it will be a gift to the agent! I'd found a perfect match through Active Rain for some dear clients and I wasn’t going to go back on my word to the agent. The process has changed and I don’t have that issue any more but I think it took several of us bucking the “corporate” relocation department to get them to understand, it’s always about the client!