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“Do You Track Where Your Referrals Come From?”

By
Mortgage and Lending with Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 NMLS # 6869

 

“Do You Track Where Your Referrals Come From?”

 

 

 

I track 100% of my referrals as to where they come from, one of the most important reasons, I always want to thank the person that referred a client to me.

 

 

 

Ireferral business had always believed that I receive about 50% of my business from past clients and the other 50% from referral partners. For 2012, I actually tracked what the different percentage was. I was shocked, with the results.

 

 

 

61% of my business came from past clients, the number blew me away. I wasn’t quite prepared for the result.

 

 

 

Let me know what you think that means?

 

image courtesy of Kookkai_nak/freedigitalphotos.net

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

I love new business - buyers.  I know where they come from, the Internet.

Feb 27, 2013 05:18 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I track referrals too.. the difficult ones are the people who say 'I found you on the internet'..where exactly?? blogging? website? franchise site?  Anytime I get a referral from someone I know, they get a written thank you with small gift card for a local coffee shop or other business...and at closing, another thank you note with flowers or I treat them to lunch. Very important to recognize these folks!

Feb 27, 2013 05:25 AM
Thomas Santore Lic Associate Real Estate Broker
Coldwell Banker Realty/Coldwell Banker Commercial NRT - Yorktown Heights, NY
Realtor®-ABR-Land, Residential & Commercial Sa

Westchester County Real EstateI track where all my business comes from. I do Referrals, Craigslist calls, E-Bay, Back Page and all my Coldwell Banker sites. Without this I would not know where my business comes from and where to continue to spend my time and money. Hope we all keep some kind of record on this.

Feb 27, 2013 05:30 AM
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

I think it means they were really happy with your service and it's the best compliment.

Feb 27, 2013 05:37 AM
Team Honeycutt
Allen Tate - Concord, NC

We do track our referrals.  We always want to thank them in an appropriate manner. We write a lot of notes and also make peronal phone calls.

Betty

Feb 27, 2013 06:11 AM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Hi Joe,

I track my business and know where it comes from too!! It's great to understand where your business comes from..helps to know where to spend your marketing dollars!! Congrats on the feature..well deserved.

Feb 27, 2013 06:18 AM
Margaret Goss
@Properties - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Joe - I think it means you do a fabulous job and your past clients are very comfortable and confident in referring you.

Feb 27, 2013 06:57 AM
Pamela Seley
West Coast Realty Division - Murrieta, CA
Residential Real Estate Agent serving SW RivCo CA

Joe, it means you're providing great service to your customers who think to refer you to people they know. Congratulations!

Feb 27, 2013 07:59 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Joe, congratulations on this great percentage of referral business! You have a lot of happy customers!
Feb 27, 2013 09:24 AM
Hella Mitschke Rothwell
(831) 626-4000 - Honolulu, HI
Hawaii & California Real Estate Broker

Joe: My business is a mixture. Lately, I've gotten more business from the Internet, who called me based on my web presence and blogs. And they have already referred me! So it's hard to categorize them.

Feb 27, 2013 11:25 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

Yes, I track all my business and know exactly where every sale comes from.

Feb 27, 2013 12:10 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Joe

You are on top of it  . . . . if you know where your past referrals came from, your know where your future will come from.

Good luck and success.

Lou Ludwig

Feb 27, 2013 12:39 PM
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Joe, I think it is absolutely essential to track where your referrals come from.  One, you need to know so you can thank them personally, and two, when you find out what the source is, it gives you a target of where to make sure your efforts go.  Success breeds success.

Feb 27, 2013 01:39 PM
Praful Thakkar
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale

It's that one little additional field - where the business came from. Thanks to my coach, I have been analyzing this for few years now to realize that most of my business is based on referrals! Wow!

Feb 27, 2013 02:37 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Joe - I do track my business, and I think that doing so shows us where we need to concentrate.

Feb 27, 2013 02:55 PM
Conrad Allen
Re/Max Professional Associates - Webster, MA
Webster, Ma, Realtor

61% means you are doing one hell of a job Joe for your clients.

Feb 27, 2013 06:51 PM
Wallace S. Gibson, CPM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer

I just referred a would-be client that was referred to me by a current client and current tenant and I e-mailed both and thanked them for their referral and that I gave their referral 2 good options for a property manager....I take referrals SERIOUSLY and want to do a good job referring them if I can not assist them.

Feb 27, 2013 07:12 PM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Yes Joe, so important...i did a blog on this in December...I was amazed also..in fact i have another thank you going out today for a new listing I just received from a past client for April...it is so important!

Feb 27, 2013 08:45 PM
Roy Kelley
Retired - Gaithersburg, MD

Tracking the source of every transaction may be one of the best keys to future success.  You know your system is working when you receive referrals from past clients.

Feb 27, 2013 09:03 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Joe, two words sum up your surprising results, customer service! Enjoy your day!

Feb 27, 2013 09:25 PM