A Competitor Asks, Where Do You Get Your Listings?

A Competitor Asks, "Where Do You Get Your Listings?"

The question came up during a friendly conversation with a Twin Cities area competitor that wasn't about shop talk, at least not when it began.  It was flattering, in an odd way, and it was tinged with a smidgen of frustration.  That competitor went on, saying, "okay, you don't buy ads on Z----- or T----- and you don't get leads or clients from your broker" (mainly because I am my own broker) so how do you do it?  I mean, where does your business come from?"

She's right about the stuff we don't do.  We don't buy leads or "territories".  We don't pretend or presume to claim that we "own" any particular neighborhood or community.  We don't buy ad space on billboards or bus benches either.

What I told her was pretty simple, maybe not the information she was looking for, but the truth nonetheless.  The vast majority of our Wayzata Lakes Realty business comes from past client referrals and recommendations.

• Some of our best clients are friends, family members or work colleagues of past clients.  We hear from new clients on a regular basis that we were recommended by a past client who was kind enough to mention that we provided them with great service and equally great results.

• We have interesting clients.  A fairly high percentage of our past and present clients have some connection to the Arts community in the Twin Cities and elsewhere.  I've had the pleasure and privilege of serving people who are professional photographers, painters, sculptors, weavers and multimedia artists.  We have sold homes to (and for) professional musicians and members of AF of M (American Federation of Musicians, Twin Cities Musicians Union), Actors Equity, SAG (Screen Actors Guild) and others in the entertainment industry.  People who work in the performing arts (and plastic arts) community have heard of Wayzata Lakes Realty.  Not all of our clients are artists, of course.  We also work with physicians, lawyers, dentists, plumbers, construction contractors, educators and even other Realtors (yes, some of our best clients have been other agents and brokers).  Our clients are of all age groups, with diverse backgrounds.

• We also seem to get a good number of our Twin Cities clients from our Wisconsin affiliate office, Madeline Island Realty.  Some of our clients own a primary home here in the Minneapolis - Saint Paul area and a "second home" or vacation home on Madeline Island or in Bayfield, Wisconsin. 

If I had to conclude anything about what our past and present clients have in common, it would be that they are the kind of people who are looking for personalized service.  These are the kind of consumers who want individual attention and who aren't willing to settle for one-size-fits-all solutions, especially when it comes to making a major financial decision in their lives.  They aren't dazzled by big-name, big-box franchise companies and they prefer a full-service, concierge approach to their real estate needs, instead of being treated like fast food customers.