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By: Jennifer Allan
Everyone loves referrals. There’s nothing more exciting than getting a call from an agent across the country who has a slam-dunk buyer or seller lead to send your way. Sure, you’ll get to pay a referral fee, but that’s okay! In today’s slower real estate market, even 25% less cash in pocket is better than no cash at all!
I refer quite a bit to agents around the country and there are distinct differences in how my referrals are handled by the refer-ee. The agents who handle my referrals well are likely to get more from me; those who don’t, well, probably won’t!
Want to inspire refer-ers to refer to you again?
Remember that the refering agent probably has some concerns about you. He's worried that you'll forget you owe him a referral fee. That you'll make him look bad by treating the client poorly. That you'll drop the ball with the client and cost the refer-er his referral fee. That you'll resent paying the referral fee when all is said and done. Stuff like that. Reasonable? Maybe not, but I promise you, it's going thru his head.
So, if you'd like to ensure that your first referral from an agent isn't your last - here are some tips:
- Be appreciative! I mean, sincerely, enthusiastically, over-the-top appreciative. As if this referral is the most generous thing anyone's ever done for you.
- On the other hand, if you aren't the right (wo)man for the job, disclose that upfront, and offer the name of someone who is. Your helpfulness will be remembered.
- Contact the client right away - duh!
- Let the refer-er know you contacted the client (right away) and share all the juicy details of the conversation (within proper privacy limits, of course).
- Tell the refer-er how much you enjoyed talking with the client and thank him or her again for the referral.
- Keep the refer-er updated on your activities with the client. Let him know when your listing appointment is scheduled or your first showing takes place. As you make progress toward the closing table, let the refer-er know. Be sure to contact the refer-er as soon as the transaction closes.
- DO NOT complain about the client or imply in any way that you're working harder than you usually do for her (which might be interpreted as the beginnings of referral-fee-resentment).
- If it turns out the the client isn't ready to buy or sell right now, don't fuss about wasting your time and stay in touch with her, and the refer-ee.
- Sign and return the referral agreement immediately. No excuses.
- And of course, knock yourself out impressing the sox off this referred client. Not only will this bring you future business and referrals from the client, but also from the refer-er.
Jennifer Allan is a real estate broker, published author, trainer and speaker. Jennifer enjoyed a successful real estate business in Denver, Colorado without relying on cheesy sales-pitches, aggressive closing techniques or making a nuisance out of herself among her social network. She assures like-minded real estate agents that they can succeed without changing who they are or becoming someone they don't recognize.
You can learn more about Jennifer's books and philosophies at www.SellwithSoul.com.
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