Nine Strategies For Success

Nine Strategies To Maximize Long Term Referrals

Strategy # 1:  Focus On Long Term Prospects
        Most prospects who inquire about buying or selling require a lot of follow
        up before they are ready to become active shoppers.  Treat these pipeline
        prospects as your best referral source.  Share with long term prospects
        (and active prospects during the transaction) that referrals let you do a
        better job for them.  Your personal friends and family are in this long term
        prospect group.
        Quite honestly, anyone who knows you by name and knows what you do
        are an excellent source of referrals and belongs in this group.

Strategy # 2:  Stay In Touch With Past Customers
        Mail your past customers a newsletter or other information with your name
        on it at least 6 times per year and call them three times or even more if
        you can.  Remember my tip about considering the property your client.  If
        you were the listing agent of a property sold, include these new buyers on
        your list.  Also, if your clients moved away from the area, include
        them on your mailing list.  You never know if they or someone they know
        will be moving into your area.

Strategy # 3:  Develop a Customer Win-Back Campaign For Orphaned Customers
        Orphaned customers are past clients of agents no longer with your
        company.  Often they are neglected and abandoned.  Explain this
        situation to your broker and ask them if you could pull old files to get the
        names of these people.  This will create a win-win situation for both you
        and your company.

Strategy # 4:  Develop Partnerships With New Home Builders
        Builders have more leads than will buy their homes.  The National
        Association of Home Builders reports an average sale-to-model-home-
        visitor ratio of only 3 out of 100, or 3%.  This leaves a lot of potential
        buyers of resale and other new homes.

Strategy # 5:  Cultivate Bird Dogs
        This is a very large group of people who can potentially refer business to
        you.  Network groups, appraisers, title agents, insurance agents,
        attorneys, home inspectors...you get the idea.  You can reciprocate by
        referring business to them.  Always ask them what type of client they
        desire and you can in turn share with them the demographic group you
        want to target.  Remember:  This potential group is HUGE!  Successfully
        cultivating this group alone can give you more business than you can
        handle.

Strategy # 6:  Scratch a Few Suppliers Backs
        This is a great option because there is no need for exclusivity.  Suppliers
        of everything that homeowners may need are only too happy to be
        included on a list of recommended suppliers.  Use your imagination and
        you can create a list that potentially has hundreds of suppliers on it.  You
        can also ask them for coupons that your clients can redeem for
        services.  Tip:  Include an insert asking for referrals in every bill that you
        pay.  You never know when it will pay off for you.

Strategy # 7:  Weave An Out Of Town Broker Network
        Think big or think small, but establish a network of out of town contacts for
        your database.  You can get these names by attending conferences,
        conventions and meetings.  One of the best ways to maintain regular
        contact with these people is through e-mail.

Strategy # 8:  Remember Cross Town Referrals
        According to a NAR study, 22% of sellers and 20% of repeat buyers who
        bought another house moved more than 14 miles and less than 50 miles
        away from their old home.  In many cases that short distance takes the
        client outside your service area.  Cultivate a select group of agents who
        can service your clients in their neighboring territory.

Strategy # 9:  Target Inactive Referral Agents
        Many agents who are no longer in the business or are part time and can't
        handle the business can be cultivated for referrals.  Another possible
        source is agents who have moved out of the area but still maintain contact
        with past clients and their old sphere of influence.

The potential is endless.  By focusing on these nine strategies you can build a business that will virtually operate on autopilot, thus ensuring you a fantastically successful future.

Let me know if you have any questions.

Just thought you should know.

Have a profitable day!

Steven