In this episode Michael talks about the power of top of mind in building a referral based business.
1. Referral-based agents build sustainable businesses versus transactional agents relying on bought leads. Referral agents focus on long-term care and value for clients, becoming the hub for their needs.
2. Referrals have higher conversion ratios (3 to 2) than cold outreach (2000 to 1), along with higher retention since agents stay connected. They also incentivize clients to refer more and have the highest ROI.
3. People don't refer due to simply forgetting, lacking recent contact, no incentives offered, non-urgent client need, poor past referral experiences due to lack of follow up. Overcome through consistency, education, promotions, value, and referral programs.
4. Be top of mind by having recency of interactions via check-ins, property reviews, newsletters. Be relevant to client interests as a homeowner resource. Build relationship strength via events. Create distinctiveness with signature programs. Contact frequency is key.
5. Most agents lose contact after transactions close, failing to follow up. Referrals require intention, consistency, and value-added communication on an ongoing basis instead of at closing.
6. Have segmented follow-up checklists for buyers/sellers at 1 week, 1 month, 3 months post-close. Include gift cards, neighborhood info emails, invitations to client events, among other value additions.
7. Use relationship builders like FORD (asking about Family, Occupation, Recreation, Dreams) to understand clients better. This grows trust and advocacy.
8. Don’t cut corners - customized mailings, relationship building events, and high-touch coordination require effort. This shows clients they are valued, increasing loyalty.
9. Social media primes clients by regularly exposing them to your brand. Value-add real estate videos establish expertise over time as subscribers see you more.
10. Author Stacey Brown Randall provides referral advice in “Getting Referrals Without Asking” book and Roadmap to Referrals podcast that agents can learn from.
Episode #19. Part II With Sol Simmers on getting predictable results with buyers by having a consistent process.
Episode #18. Get some detail on what you should be measuring in a quarterly business check in.
Episode #17. Being passionate about living a Minimalist lifestyle and focused on leading others towards a more fulfilled life with less stuff and more living.
Episode #16. Mastery in one's career and consciousness growth simply require that we constantly produce result beyond and out of the ordinary. Credit Stewart Emery
Episode #15 How well does your listing packet give the seller clarity on the value you bring to the process?
Episode #14. Anders Ibsen went from 18 transactions to 61 transactions in his 1st 4 years in real estate by being relationship based in his approach.
Episode #13. The consistent processes Real Estate Agents need for predictable results.
Episode #13. Don't over think your marketing. Some helpful tips and a great tool to stay top of mind with your clients.
Episode # 12. How to survive, maintain and thrive by way of being consistent and authentic to who you are. Just get it done.
Episode #11. The power of using the 5 step calling process.
Episode #10. Working with buyers to get their offers accepted.
Episode #9. Meet Lucy Wood, the 3rd generations in the Windermere family Real Estate Company.
Episode #8. 6 ideas on staying on track with your business, and reducing stress this holiday season.
Episode #7 Creative ways to be the Real Estate Trusted Advisor using FB groups and YouTube with Kelly Martin.
Episode #6. The benefit of Windermere Relocation when you understand abundance and win win.
Episode #5. Busting the myth in Real Estate of working 24/7. Remember you are only human, and it is ok to let clients know that.
Episode #4. What do you do that is consistent when it comes to building referral-based relationships with your sphere?
Episode #3. Ideas from Top Windermere Ninjas planning for a great Q1 2022.
Episode #1 An interview with Francy, A UW Senior majoring in Real Estate, how her perception of real estate changed.
Episode #2. How do you stop paying for real estate leads, earn more income and create work life balance?
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