For 2008, a noteworthy part of my business plan is focused on building both incoming and outgoing agent to agent referral business. I think I have fallen into a good system - just this week, I have generated 12 new leads for various types of real estate transactions in areas other than my own. By the end of today, I will have successfully placed 6 of those with competent, screened, agent candidates. I am still looking for 3 more agents, and I did not convert the other 3 to placed referrals because they were looking for a "needle in a haystack" or the client found an agent through other means before I could assist them.
So, I am obviously looking to increase that conversion ratio by continuing to establish relationships with other agents... I imagine that will always be a work in progress.
Since this effort and program is new to me, I am very interested to hear from all of you - how many referrals do you exchange each year, and of them how many close? How do you market for this business? Share your secrets...and leave your email address with your post. I plan to incorporate the ideas into a well written article/blog; and I'd like to send you a copy. I also plan to post this question on other sites, so I am getting answers from a variety of places.
Thanks for your time!
Vicky in Virgina