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Are YOU a Giver?

By
Mortgage and Lending with Zenith Mortgage Advisors NMLS# 5016

In the real estate and lending business, we all work for referrals.  My business over the past 12 years has been built entirely by referral. I appreciate them, work hard for them, and like to think that I deserve them. 

I used to get this all the time, let me know if it sounds familiar: "Hey Bob, good news!  I was talking to a friend of mine and they said they really want to refinance/buy a new home.  I told them you were the best, and gave them your card."  To be truthful, the people call no more than 50% of the time.  What opportunities are lost?  How much money? How many clients end up working with less qualified, or less scrupulous mortgage advisors? 

I have made it a point to educate my best referral sources.  People with the best hearts, who want the best for their friends and family members.  Now, I ask them to "sing my praises" and ask permission for me to call them.  If I can call them, I can ensure at least one contact between us.  It's infinitely more effective than me waiting and hoping that they call me.

So here's my question to you...do you refer people the right way?  Do you get permission to give their contact info to the people who can serve them?  Here's what I say:

"Say George, do you have an excellent realtor that you are working with?" Ususally, the answer is "Well, I get listings emailed to me by someone (they usually can't remember the name BTW). 

I say "Listen, Lisa is one of the best realtors I've ever come across. With your permission, I'll have her call you within the next 24 hours.  What is the best number for them to reach you?"

Can you see the difference in value between this and "Here's Lisa's card, give her a call."?  It's night and day, and the only way to refer someone you really WANT to get the business.  So, are you giving referrals the right way?  Shouldn't you be?

Eric Lowery
Keller Williams Realty Professionals - Spring, TX

Bob,

Check your email.  I sent you a message regarding this post.

Thanks!

Eric Lowery, Daily Agent Tips

 

Nov 09, 2009 02:22 PM
Mick Michaud
Distinctly Texas Lifestyle Properties, LLC Office:682/498-3107 - Granbury, TX
Your Texas Lifestyle is Here!

Bob,

". . . do you refer people the right way?"  That depends on the perspective of the referee.  If someone is considerate of their friend to whom they are giving your name, then they've done it the right way.  If they are recruiting for you, then they need to do it your way. 

The right way from your perspective is giving you control of the contact.

Nov 09, 2009 08:05 PM
Bob Prevelige
Zenith Mortgage Advisors - Hopkinton, MA
CMPS

Mike,

 

Thanks for the comment.  While there is some truth to it, I also know that people who are unwilling to have me contact them are unlikley to make contact at all.

If the connection between two parties is an important one, then I as the "chaperone" of that connection, want to do everything possible to make sure it gets made. That's why I try to put it in the hands of the professional I am refering.  At least 2x more likely to connect.

Bear in mind, I'm not even refering to relationships involving me.  I refer my business partners the same way, because it's in my clients best interest to actually connect with them.  It's my version of client care.

Nov 09, 2009 10:55 PM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Absolutely true Bob! Referals usually are the best clients to work with and they seem to have a better level of trust right off the bat.

Nov 10, 2009 08:40 AM
Bob Prevelige
Zenith Mortgage Advisors - Hopkinton, MA
CMPS

Thank for the comment, and the tips on the banner Bill!

Nov 10, 2009 09:34 AM