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Ed Hodkinson, Real Estate Pro in Levittown, NY

I was thinking to myself what our business is all about. I always come back to one word...REFERRALS. I wanted to see what the opinions are out there

Asked by Ed Hodkinson, Levittown, NY Sat Feb 5, 2011

about referral networks. Are there any suggestions on which ones to look to possible get involved with? I'm actually thinking about getting together with a few people I know and starting my own.

Ed

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Answers

7
I believe it is a % of a Realtos practice HOWEVER I would never "bank roll" on it

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Sat Feb 19, 2011
99% of all my business comes from referrals, do a great job and clients will notice. I have several that go well out of their way to refer me to friends and family.

I am leary of any "networking" groups where you have to pay to join. Instead, take a page from financial advisors, who are in a similar situation as us. I work with a couple, educating clients about the buying & selling process. You will find being a successful agent means a sucessful networking system. Finds what works for you.
0 votes Thank Flag Link Sat Feb 19, 2011
Wonderful answers, we can all learn from it!
Thanks everyone,
Vicki Holmes
0 votes Thank Flag Link Sun Feb 6, 2011
The best referrals come from those who know and trust you. Then on your business to business relationships. and from other agents. It is easier to get referrals when you give out first, either in services, as a resource, or referrals to others. And finally, referrals are earned. Make sure the referral you give out meets or exceeds your own standards. Follow up with how they serviced the client, do a survey.
Web Reference: http://terrivellios.com
0 votes Thank Flag Link Sun Feb 6, 2011
Ed, I saw the answers given by 2 agents who responded. I agree 100% with both of them. They both gave excellent advise. Let me give you another one. Get yourself a pad and pencil. At the top of the list write " My Sphere of Influence" . Proceed to make a listing of all your friends and relatives. Call them one by one and ask if they know of anyone looking to sell or buy a home. Throughout the year remind them that you are still in real estate by calling or sending something to them such as a magnet with the Yankee schedule.
0 votes Thank Flag Link Sun Feb 6, 2011
This is nothing wrong with referral networkds, but I find that the most dependable referrals are the ones you ask for.

Success breeds success. Every deal you ever complete has at least 3 sources for referrals. Your client is the most valuable source because they know what great service they just received. Their Lender (if it was a buyer) because your client will brag about what a great job you did for them and tell their lender how well they were treated. You will also ask for referrals from their Loan Officer every chance you get. And...wait for it...the other party in the transaction. Once the transaction is closed, you should be thanking the other party involved for their participation. If you represented a buyer who really got a good deal through your skillful negotiations, you run the risk of leaving a really bad taste in the seller's mouth. All of that goes away with a simple thank you note and an offer to help their friends and family because they know how skillful you are.

All of this is totally dependent on your ability to negotiate great deals.

Mark Atteberry, Expert Louisville Realtor
"Personal Service, Expert Results"
0 votes Thank Flag Link Sat Feb 5, 2011
You are correct, the best part of our business is referrals and the best ones comes from your clients and people that we know. We cannot assume that they will always think of us, we need to constanly remind them and ask them for referrals. There are a lot of groups out there; leads groups that meet for breakfast, lunch or even dinner, they are all excellent sources. Any and all networking is important. Starting your own with people you know is also a great idea. Good luck!
0 votes Thank Flag Link Sat Feb 5, 2011
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