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!