The Referral Game - It's not as easy as you think.

Real Estate Agent with John Cooper Realty Team 01448884

I used to call expired listings, FSBO’s and other cold lead sources and I am begging to see the light. I am not against those lead generation sources and they can be fairly lucrative. I have come to find that spending 2 to 3 hours a day prospecting cold leads is very time consuming compared to prospecting what I like to call “channel accounts”. I would rather be spending my 2 to 3 hours per day networking with other business owners that could possibly refer me 2 to 3 clients a year.

Even though it seems like a great plan, gaining the trust of these business owners can be just as tough as calling a For Sale By Owner. The number one thing in the referral game is trust. We must first build trust with our new found friends. Many times building trust can take several weeks or even months. This may sound difficult and often times the initial contact ends up in rejection. Don’t let their rejection make you think that they don’t need you.

Some of my biggest accounts started out as a shaky at best relationship that have tuned into a great working friendship. If you’re looking to expand your business think, business to business referrals. It could lead to some of the best referrals you have ever earned!


Comments (3)

Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County

Never really considered business to business networking and will look at this. You are right on target - begins with trust!

Jul 25, 2016 06:16 AM
Jim Smith
The Property Management Company - Round Rock, TX

There are several local, regional, national, and even international networking referral groups made up of business owners/leaders (i.e. - BNI, MasterMind, Rotary, Chamber of Commerce, etc.). Here is a link to a blog discussing ten of these:  Top 10 Business Networking Groups You Should Join

Most of these groups only allow one person to represent their profession and expertise.  BNI, for example, may allow more than one Realtor in a specific group so long as one is a Residential Broker, another is a Commercial Broker, and even a third that is only doing Property Management.

Jul 26, 2016 12:28 AM
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale
Coldwell Banker Realty, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

John Cooper - A great suggestion for anyone looking to expand their network for leads and other opportunities!

Jul 26, 2016 05:35 AM