ask for referrals
Issue 120 - January 27th, 2023
Real estate agents work so hard to get deals done from beginning to end, and nothing matters until you successfully close the sale and make your clients extremely happy.
Something that has always perplexed me about our industry is the lack of follow-up and nurturing post-sale that most agents do in this industry. So many agents never talk to their clients again after a successful home sale and instead try to focus on farming new business from scratch in a lot of ways. Agents also just “assume” that previous clients will send business their way, but this is far from true.
Your previous clients may not know you even want more business which sounds weird, but I have heard people think they are being intrusive by pushing business to their former agent. Agents have to proactively stay in touch with previous clients and always go out of your way to ASK for referrals.
During my time as an agent, over 50% of my business came from my previous clients. I was absolutely obsessed with staying in touch with everyone I ever helped lease, buy, or sell a home. I would send them letters, randomly call them, text them, and go out of my way to ask them if a friend or family member ever needed help.
By doing this, I got great clients and repeat business from trusted sources, and it helped me grow my career tremendously. The easiest place to get business is from those who have worked with you and trust YOU. Don’t waste this opportunity for growth as so many agents do which is always mind boggling to me.
Never feel weird asking previous (happy) clients of yours for referrals - I promise you they are more than willing to help however they can, but you have to ask.
Don’t be the agent that gets frustrated when you see a previous client list their home that you sold them with someone else because you literally never talked to them after closing day…
Newsworthy Links To Share
Quote of the week: “Thus, an instantaneous real estate transaction may be a solution in search of a problem. For consumers, it is more important for an expert advisor to guide consumers through the process, however long it may take. It is because of this consumer preference that human beings—in the form of real estate agents—remain a critical component in residential real estate.”
Rigged Rent? Residents Allege Massive Price-Fixing Scheme in Miami Apartment Market: A class action complaint claims skyrocketing rent in the Miami metro area has been exacerbated by a pervasive price-fixing scheme.
How Pickleball Is Invading the Real Estate World: The sport seemed to appear out of thin air, then shot to popularity during the pandemic. Now it is ubiquitous, even in the professional real estate world.
Prologis Plans Suburban Austin Industrial Project: Prologis Inc. is planning to add 629,000 square feet of premier logistics offerings to the suburban Austin, Texas, market.
Cannabis-Friendly The Lexi to Open in Las Vegas in April: Elevations Hotels and Resorts is converting Artisan Hotel Boutique at 1501 West Sahara Avenue, Las Vegas, into a cannabis-friendly hotel called The Lexi
MUST READ: Emerging Models in Residential Real Estate or “How to Lose a Billion Dollars in Real Estate Tech” Mike DelPrete (University of Colorado Boulder) (Joint Center For Housing Studies - Harvard University)
Reffkin's advice to leaders: 'Focus on creating value for agents'
After a year of upheaval in the industry, the Compass CEO and co-founder aims to make the company cash flow positive and is leaning into culture and community. (Real Estate News)
News Corp in talks to sell Realtor.com Parent Move to CoStar
Rupert Murdoch's News Corporation is in talks to sell Move Inc, the parent company of listings giants Realtor.com, to CoStar Group. (The Real Deal)