What is the Greatest Source of Business in Real Estate?

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Commercial Real Estate Agent with Sharpstone Commercial DRE# 01789768

What is the Greatest Source of Business in Real Estate?

Here is a hint: It has nothing to do with the internet.  Yes, NOTHING to do with technology.

We all know that any type of sales is a numbers game:  A sales person who contacts 2,000 people will generate more sales than someone who is calling only 200 people.  However, I am not saying that we need to contact more people that we do not know.

Our greatest source of business in any industry is Repeat Business and Referrals.  It takes soo much time, money and energy to be the ONLY promoter of your business.  WHAT IF??  You had 10 or 20 people promoting your services as a Realtor?  Your sales would go up by 10 to 20 times.  Every happy client SHOULD equal a new referral every year.  What this means to me as a Realtor:

* Focus on the Clients wants and needs as opposed to getting a commission check.  If you put your clients first, the money will definitely take care of itself (over time)Dishonesty

* Always be up front and honest with your clients.  It is the ONLY way to gain credibiltiy and respect from your clients.

* Do your BEST work at all times (even if the commission check is going to be small).  We are in the people business and NOT in the commission business.

* Communication is KEY.  This begins with answering your phone or getting back to your clients ASAP.  Your clients need to be able to tell you anything (especially when spending a half a million dollars on a home purchase)

* ASK for referrals because you actually earned the right to be mentioned to friends and family.  They will only promote your business if you have done a great job.

 

Mark Velasco-The 1 Day Home Seller (So California)

Search MLS: www.CustomHomeSearches.com  find out What is my home worth?

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Krista Lombardi 08/08/2011 06:37 AM
Topic:
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Location:
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Groups:
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Tags:
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Rainmaker
147,437
Krista Lombardi
Prudential Calfornia Realty - San Diego, CA

Very Good Information. Thanks.

Aug 08, 2011 06:34 AM #1
Rainmaker
440,536
Eric Crane -- Your Full Service, Discount Fee Realtor®
DPR Realty LLC - Gilbert, AZ
Greater Metro Phoenix Arizona

Hi, Mark -- thanks for your well-reasoned post.  It is a good reminder for me, personally, as I need to do a much better job asking for referrals.  Have a great week!

Aug 08, 2011 06:35 AM #2
Rainmaker
199,795
Mark Velasco
Sharpstone Commercial - Whittier, CA
Top Producing COMMERCIAL Team 30+ years experience

Krista:  Thank you for commenting!

Eric:  It is always on my mind to ask for Referrals.  Yet, I STILL do not ask sometimes.  I get to caught up in the specifics of day to day Real Estate.  Thanks for stopping by.

Aug 08, 2011 06:38 AM #3
Ambassador
2,461,590
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    It is so nice when you get a call, the person calling says, "Hi, this is John Doe,  my friend bought a house from you last year, can you help me?"

   Stay in touch with your clients and customers after the Closing!  

Aug 08, 2011 06:39 AM #4
Rainmaker
199,795
Mark Velasco
Sharpstone Commercial - Whittier, CA
Top Producing COMMERCIAL Team 30+ years experience

Yes Fred.  I should have put that in too.

Aug 08, 2011 06:39 AM #5
Rainer
127,367
Stephanie Leon | Miami Lakes Realtor®
Realty Empire Incorporated - Miami Lakes, FL
Turning For Sale Into SOLD!

Great point... I believe that what you do today makes for a better tomorrow.... So I focus on todays client and so when they refer me tomorrow I am ready.... Thanks for sharing...

Aug 08, 2011 06:41 AM #6
Rainmaker
199,795
Mark Velasco
Sharpstone Commercial - Whittier, CA
Top Producing COMMERCIAL Team 30+ years experience

Very true Stephanie.  Some people are so caught up in future leads that they are not taking care of present clients.  Great comment.

Aug 08, 2011 06:44 AM #7
Rainmaker
335,293
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

I would put it "word of mouth". We live in a very small town, and people come in frequently and say so-and-so told us to come see you.

Aug 08, 2011 07:04 AM #8
Rainmaker
199,795
Mark Velasco
Sharpstone Commercial - Whittier, CA
Top Producing COMMERCIAL Team 30+ years experience

Yes Leslie.  Word of mouth is definitely what we are hoping for.  Actually we should say good word of mouth because word of mouth can also go the other way too ;-)

Aug 08, 2011 07:08 AM #9
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Mark Velasco

Top Producing COMMERCIAL Team 30+ years experience
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