Referrals?

By
Industry Observer

As an industry observer and previous real estate professional, my perspective has changed somewhat.  In the last week, a couple folks contacted me after being referred by previous clients, and I had a hard time giving suggestions about where to find a good representative. 

Finding the right agent/broker has some similarities to finding a life partner.  There is a perfect match somewhere, and there are some acceptable matches somewhere.  But, how do you find that match?  You could use the Internet and try to believe everything you read with predictable results.  You could do the honey bee method, moving from prospective agent to prospective agent until you are either exhausted or you have found enough nectar to make a decision.  You could go to a bar and tell the person next to you that you're looking for a real estate agent.  Chances are pretty good that he/she is an agent, or an agent will overhear the conversation and kidnap you.  You could ask a friend or relative who represented them and if they would recommend that person.  But, given the perennial turnover in this business, there is a good chance that they will recommend someone who is now selling used cars or insurance. 

That brings me to a suggestion for referral chasers out there.  It may not hurt to prospect among the no-longer-licensed folks who have had at least one transaction prior to pushing the eject button.  Not only will they be possible buyers/sellers in the future, but there's a good chance that someone will call and ask them to represent them.  They can answer, "I'm selling cars now and can't help you," or they could say that they are no longer in the business but know a well-qualified agent who may be a good match for them.  Keep in touch with people who have left the business and you may be surprised at the results. 

 

 

 

Posted by

 Mike Carlier  Lakeville, MN

 

612-916-3033

 

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Rainmaker
995,057
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Real estate and loan skills are transferrable.

If a realtor has been in business for awhile she is likely continue working as a realtor. She may have added loan, notary public, property management.  

Selling used cars require a different mentality. Rarely these sales people get into RE business. The amount of $ involved requires a lot more credentials. In our area there is a lot of CPAs, and attorneys in RE. I am having lunch today with a realtor who was a proscutor before.

Some realtors act like they are used car sales persons. They are the bad apples of the trade and will not survive long...

Jan 26, 2016 12:42 AM #1
Rainmaker
522,122
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Sam, so sorry you commented without reading my post.  It was about referrals that can be derived from previously licensed real estate salespersons.  Have a nice day.

Jan 26, 2016 02:01 AM #2
Rainmaker
3,978,939
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Mike it is a great idea to use past agents...I have 2 former agents in my farm group

Jan 26, 2016 05:43 AM #3
Rainmaker
3,978,939
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I was down in your area showing a house to a long time client...Time was very tight.  I had thought of calling you for coffee,, but again the time.

Jan 26, 2016 05:44 AM #4
Ambassador
3,080,582
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Keeping in touch with folks who have left the business and letting them  know you are happy to pay them referral fees (if they are inactively licensed) is a great thing to boost incoming referrals.

Jan 26, 2016 11:36 AM #5
Rainmaker
522,122
Mike Carlier
Lakeville, MN
More opinions than you want to hear about.

Although everybody likes free money, I think that formerly licensed real estate agents look at referrals a little like they are the stuff left over from the garage sale.  There's lots of value, but it's nothing I personally can use any longer.  It needs to go somewhere that it's taken care of properly.  When I make the after-sale trip to Goodwill or another charity, the last thing on my mind is how much I would have made if I sold it. 

Jan 27, 2016 03:54 AM #6
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Robert Vegas Bob Swetz
Realty ONE Group - Las Vegas, NV
Las Vegas Henderson Homes for Sale

Hello Mike ... I like your post and featured to the group:

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Jan 27, 2016 11:52 AM #7
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Rainmaker
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Mike Carlier

More opinions than you want to hear about.
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