Where did your last client come from?

I’m a curious fellow. A question I always ask my real estate associates when a transaction comes into play is, “Where did your client come from?”  Traditionally it was most often one of three ways.

      1. They know someone I know.

They ride the bus to work with my neighbor. They socialize with a friend. It was a recommendation based on my good treatment of a prior client. It was someone from church, volunteering, a relative, a friend.

2. It was through my marketing.

“I’ve been working this ‘area’ diligently for sometime now and they gave me a call because they saw my flyer, postcard, ad, sign, or open house.”

3. They found me online.

They found me via my company, read my blog, or found my open house online. They see me on ActiveRain, Facebook, LinkedIn, or at a Biznik event. We’re in an online networking group and share an interest in cooking, cars, golf, or travel.

 

Once upon a time #1 was very different from #2, and #3 didn’t exist. In fact #3 is rather recent and it has only really come into play in earnest over the past five years or so (even though it’s been around for more).

#1 happened because you lived and participated in a community, neighborhood, school, or fraternal organization. You were known and real estate is what you do. If someone had a need, chances were good (or at least hopeful) that they came to you, or were recommended to you. That’s passive.

#2 came about because you had vision and a plan and you worked it faithfully. You had a goal in mind. You intentionally made yourself visible while prospecting for those that had a real estate need. If you did your job well you found the 1% or 2% that had a real estate need and they chose you (instead of your competition) because you were there, had the right message, style, personality, and presence. You are proactive.

Time went by (along with a lot of blood sweat and tears) and you stayed committed and learned your craft. You practiced great customer service day in, day out, even when you didn’t feel like it. You noticed clients and prospects moving from group #2 to group #1 and your referral base began to grow.

A great achievement for any professional, right?

So what happened? Did something change?

Yes, very much so. The lines of distinction between #1 and #2 not only blurred they melded and fused together. #1 and #2 didn’t go away (and don’t forget that realtors!). But #1 and #2 are now super influenced by #3. In fact most consumers no longer make the distinction where one begins and the other ends. 

Why?

Because we all changed.

#3 is the number new #1 influencer because the consumer (and that includes us) adopted search (online) as our primary first or second action step towards goal/life fulfillment. We also broadened our social net to include more people into our lives and our decision making process than every before known on the planet in any time that ever existed before now.

 I use the term ‘consumer’ loosely, thinking people use online search for many things other than purchase… We also look for answers. We look for facts, love, friendship, ancestors, religion, science, art, music, and history. We seek out people with common interests. It’s not always just about the purchase. Yet, in almost every single case it leads to, or is tied directly to, something to buy.

What happened?

The internet not only redefined local, (a monumental and wonderful accident), but as searchers (surfers) we are engaged in the pursuit of knowledge. We’re looking for stuff… real estate, coffee pots, a new car, a great vacation. We’re self educating.

The consumer is driving the market. They’re fed up and tired (just like us) with the old methods that we see crumbling around us daily. It matters far less where we are on the planet and so much more about what we have to offer and share. Distance is no longer a barrier. The old platitudes fall away. It’s not about control, domination, scarcity, hording and controlling. It’s about abundance.

Because we’re actively engaged and in pursuit, we do not want to be sold anything. Yet the result of our search is often about the want or need to buy something. When you Google anything you get at least 1,798,354 unique hits. So what do we do? We immediately begin to eliminate. Not you, not you, not you, nor you. Searchers want a reason to be pulled in. They do not want to be pushed. That’s why internet marketing is passive.

I’ve talked to about 700 realtors through lectures, presentations, roundtables, and networking events since the first of February. I asked them, “Where did your last client come from?”

In short and overwhelmingly so the verdict is…

The answers included #1, #2, and were dominated by #3 (and profoundly so)… The internet was inextricably involved at every point along the way. It didn’t matter if they knew you, knew someone who knows you, they were your neighbor, a relative, or friends of friends. Every conversation we had, we could not separate the internet from the equation. Even from the non believers.

I'm asking you to help me with my research… “Where did your last client come from?”

I'd like to know... thanks...

René