How to Consistently Generate Referrals

My advice on how to generate consistent referrals from your database

Referrals are one of the best ways for you to generate consistent business as an agent.

 

How to generate referrals and what segments to work in?

 

Some agents say they get referrals by doing a good job. Don’t you do a good job for all your clients? If doing a good job was all it took, almost all your clients would generate referrals for you. What is your strategy? How much money are you leaving on the table by not having a system?

 

Let’s review a solid plan to generate referrals.

One of the most important questions you need to ask yourself is, “How am I communicating with key groups?” The main groups you need to communicate with to generate referrals are other agents, businesses, and consumers.

 

 

How are you segmenting data and offering to these groups?

 

AGENTS: KW platform in Command, Check Smart Plan Library – 36 Touch for Referral Agent Partners and Agent Referrals, For KW Agents see detailed process regarding referrals including sending, receiving, broadcasting, accepting, tracking, Commercial Agents, Mastermind Groups, Investor Clubs, Classes, Regional Linkedin Groups, Instagram (millions daily users #RealEstate) realestate_atx : Shout out to Ian Grossman with over 18,000 followers, Participate in Red Day for K, and managing your referrals and migration patterns: See video: https://youtu.be/d9eVkx5vPQE and https://answers.kw.com/hc/en-us/sections/360003127494-Referrals

 

BUSINESS: LINKEDIN, Attorneys, Financial Planners, CPA’s, Painters, Carpet Vendors and Installers, Stagers, BNI, Builders, Handy People, Teachers and School Boards, Facebook Marketplace, Title, Lenders, Promote Local Business through Videos (Vyral Marketing has plans)

 

CONSUMERS: Clients, Church, Mom’s groups, golf, tennis, sailing, Marketplace, Radio and Television, Podcast, Billboards, Children’s Hobbies, Charities, Boat Clubs, Mailers, Volunteer, Facebook Marketplace, Sponsorship Nextdoor: your neighborhood and office location

Do you have a raving fan club?

Examples of what Raving Fans get free use of:

  • Free Use of In Office Notary
  • Free Use of Office Meeting Space
  • Free Use of Ladders
  • Free Use of Pressure Washer
  • Free Use of Folding Tables
  • Free Use of Chairs
  • Free Use of BBQ Pit
  • Free Use of Lawn Mower
  • Free Use of Saws
  • Free Use of Drills
  • Free Use of Tools
  • Free Use of Wheel Barrow
  • Free Use of Bolt Cutters
  • Free Use of Tree Trimmers
  • Free Use of Hedge Clippers
  • Free Use of Shovels
  • Free Use of Tiki Torches
  • Free Use of Camping Tent
  • Free Use of Tailgating Pop Up (labeled U of M or MSU)
  • Free Use of Camping Cookware
  • Free Use of Tarps
  • Free Use of Beverage Coolers and Margarita Machine
  • Free Use of Leaf Blower
  • Free Use of Garage Sale Signs
  • Free Use of Turkey Fryer
  • Free Use of Crawfish Pot
  • Free Cashflow Analysis of Investment Properties
  • Referrals to and Pre-screening of Real Estate Professionals Anywhere in the World
  • Free Literature On Buying and Selling A Home
  • Free Relocation Information

 

A great way to communicate regularly with these groups is through social media. You can set up a regular reminder to reach out to these people to send something of value and remind them of your great service. You can also set up a thank-you video through text or email to add a personal touch.

Thank you for Referral: https://www.youtube.com/watch?v=1aVQwHQ_KqA

“The key is that you want to highlight the value you added to their experience.”

One of the trickiest things to handle with referrals is how you reinforce good behavior. A lot of agents might send a thank-you gift like a nice bottle of wine; this can feel like a trade or a bribe to some people. On the other hand, you don’t want to do nothing when you get a referral since it can leave people feeling unappreciated.

By giving current clients the option to trade referrals for a gift or a donation to a local charity, it’s a win-win-win. The business gets referrals, the charity gets donations and the client gets to feel good and appreciated.

What Is Your Script and Collateral Material to Support the Process?

Create a thank-you letter using a script that highlights the quality of service and a worthy cause. For the worthy cause, maybe you mention that X amount of dollars from your commission is donated to a charity. Perhaps you can even let your clients choose from some popular options to make them feel like they’re a part of the process. When you give, you gain. The key is that you want to highlight the value you added to their experience AND give to the community. This shows who to trust, in actions, not words.

See how Reynolds Team ingratiates referrals with the Raving Fan Club to support worthy cause in this video https://fb.watch/7oPC0f8Cuo/  Way to go Sarah and Debbie Reynolds 703-297-3251

For those who chose gifts what are the Milestone Reward Incentives?

5 Referrals: We will buy you a pair of Bose Noise Cancelling Headphones.

10 Referrals: We will buy you a full day Spa treatment.

25 Referrals: We will foot the bill for a meal at ANY local restaurant for you and 7 of your closest friends.

50 Referrals: Round trip flights for two + 5 star hotel accommodations for 3 nights to anywhere in the world.

 

Giving with or without referrals makes sense and is the highest apex of Gary Keller model.

Have a system for asking for referrals with agents and admin like the Promise and asking for 5 Star Reviews?   Please share!

If you have other questions Real Estate Super Heros about scalable business practices or anything else, reach out to me and the team. Curious about bigger ideas to help take your life and business to the next level. We are always here to help.

If you have other questions about scalable business practices or anything else, do not hesitate to reach out to me and my team. We are always here to help.

Finding the Value Proposition of a Real Estate Team

What’s the value proposition for a team?

The best real estate teams can communicate why people should work with them. The value proposition lays out the services that will get the results agents value. At 0:25 in the video, you can see some of the services teams share. Take a look at the offerings that demonstrate how you can choose the best support for you to sell real estate. This list can be the model you need to demonstrate team proficiency compared to your market and other competitors. 

Remember to determine what you will net. Return on investment isn’t always determined by money; it’s sometimes based on wellness, ease, and elegance. Consider the following: 

  • Lead generation systems and distribution
  • Future leadership positions
  • Ongoing coaching and training with digital libraries
  • Administrative support (including CRMs and social campaigns)
  • Plug-and-play systems, tools, and financial plans (including tech support)
  • Community within a growth-minded community 
  • Accountability through huddles, meetings, competitions, and tracking
  • Do they have charitable giving?
  • How does the team stack up in your marketplace? What are the results, reputations, and branding?
  • What does the culture look like? Are they celebrating you bringing in a seller client or chastising you because your client needed photos quickly and the team process is slower?
  • Compare their sales price ratio to the market sales price ratio
  • Compare their number of properties sold per agent to the number of properties sold in the market per agent in total market share 
  • Compare closing percent to market closing percent 
  • How long would it take you to get all of this value? 
  • Is it an ecosystem? Are they the only ones who have this? Do they have proprietary systems?
  • Do you have immediate credibility with your clients?
  • Does the team have guarantees (e.g., Love It or Leave It, or ‘You list with me and I buy your new home until we sell your existing home’)?
  • Do they have the ‘easy button’ for consumers so they can, for instance, bundle title, insurance, inspection, home warranty, and maintenance and repair with trusted vendors to save money and time with one-stop shopping?
  • What are the reviews like? Are clients delighted enough with the service so that you can also earn five-star reviews and referrals?
  • Can you interview exited and current members?
  • Are you able to focus on what you love and let go of the rest?

Find what you need and have fun. I also recommend reading “The Millionaire Real Estate Agent” by Gary Keller. Determine if a team is your path at this time—your bank account will thank you. 

Shout out to the Hoffman Murphy Team, the Quinton Group and the Daily Group for being great and effective examples of value proposition.

Dailey Value Proposition (3)

Team Value proposition (2) (1)

Real estate heroes: Thanks for investing your time here and stay tuned for future videos. If you have any questions about this topic, don’t hesitate to reach out to me. I’d love to hear from you.

What Is a Buyer Proposition?

Here’s what you should consider when creating your buyer proposition.

What is a value proposition for a buyer? The best real estate agents should be able to communicate why people should hire them to help them buy a property. A buyer proposition lays out the services that will get the results buyers value.

 

Take a look at the measurements of success that will demonstrate that you can find the best property for the best price in the least amount of time with the least amount of hassle. This chart shows your proficiency compared to your market. If you can demonstrate your market knowledge and results with supporting data, that you care and are trusted by other buyers, and that you’re superior or equal to other agents, then your chances of winning that buyer as a  client often increase, and they’ll pay your fee.

  • Pre title
  • Clue report
  • Uncovering hidden stash
  • Door Knocking/Mailing neighbors or absentee owners
  • Calling prospective sellers
  • Attorney networking
  • Social media marketing
  • Local subdivision information (videos)
  • School tours
  • Critical dates
  • Negotiating by winning offers
  • Concierge follow up

How do you stack up in your marketplace? Compare your sales price ratio to the market’s sales price ratio; compare your number of properties sold to the number sold in the market per agent; maybe show how many winning offers you’ve secured within the last 10 offers written. Is your value unique in your real estate market? Can buyers only get this with you? Are you getting pre-title on covering title issues before making an offer? Are you providing a clue report? Give buyers access to the hidden stash of properties by door knocking, sending mail to neighbors or absentee homeowners, calling prospective sellers not yet on the market, and networking with divorce, probate, and trust attorneys.

 

“The best real estate agents should be able to communicate why people should hire them.”

 

Engage in Facebook marketing to let others know what your buyer’s needs are and provide your buyers deeds, bylaws, and videos of local subdivisions. Set up school tours and have after-move-in neighborhood intro parties. Provide trusted vendors and crucial dates to help them stay abreast of the transaction. Guide them on how to beat multiple offers by reviewing what a winning offer looks like in the beginning.

 

Promise and provide unmatched service. Do you have guarantees like “love it or leave it?” Do you store all their data for years, including their appraisal and inspection so if they ever need anything you’re the trusted resource? Do you provide a one-stop shop service with title, insurance, inspection, home warranty, and maintenance and repair with your trusted vendors to save buyers time and money? You can even provide a lender or Keller Mortgage to help make the house more affordable and bulletproof your results and value.

  •  Love It or Leave It
  •  Buy New house until Old house Sells 
  • Pre Close Document Review and Utility Transfer, Escrow Set Up and Release

Are you delighting with your service so you earn five-star reviews and at least one referral per relationship? Are you prepared for every appointment by previewing all active properties? Have market comparable data for the area and neighborhood. Build rapport, determine motivation, and enjoy the experience.

Post Closing: 
  • Data Storage including Inspection, appraisal, (for refinance ease) neighborhood information including by laws and restrictions
  • One Stop shop – title, appraisers, lender, vendors, insurance, movers
  • Delight with Service
  • Earn 5 star reviews and referrals by Building Lifetime Relationships
  • Continually Staying in Touch

I suggest reading “The Millionaire Real Estate Agent,” chapter three, page 95, figure six: The Top Ten Service Areas of the Buyer Value Proposition. Determine your unique value proposition to buyers and your bank account will thank you.

 

If you have questions about buyer value propositions or any other real estate matter, call or email me. I would love to speak with you

How to Create a Value Proposition That Beats the Competition

Here’s how a value proposition demonstrates your worth as an agent.

A good real estate agent can explain why a potential client should hire them to sell their home. You can think of it like Apple launching a new technology; in your industry, however, you’re “launching” a home onto the market.

In order to be chosen by a seller, you need to have a value proposition. Your value proposition lays out all the services you provide that will get your seller the results they want—see figure 17 in “The Millionaire Real Estate Agent” to see what services to share.

Take a look at success measurements that show how you can sell a home quickly and for top dollar. This can help you dispel any doubts a client may have about commission, and it will therefore win you the earnings you deserve. The chart seen at 0:48 in the video is one way to demonstrate your proficiency versus that of your competitors. Some great metrics to include are your days on market, list-to-sales price ratio, the number of properties sold, and the percentage of listings closed..

 

“With all of your strengths and benefits in mind as an agent, you’ll know exactly what you can offer to your clients..”

Some great metrics to include are:

  • Your days on market compared to your Board average.
  • List-to-sales price ratio compared to your Board average.
  • Number of properties sold, compared to the average agent.
  • Percentage of listings closed compared to Board average.

What else is part of your value proposition? Do you offer something unique that no other agent can? Does choosing you as an agent mean a client won’t want or need anything else? Do you have any guarantees? Do you bundle costs like titles, insurance, warranties, and inspections? What about staging and home repairs? Other value propositions might include:

  • Guarantee Home Sale
  • Guarantee Home Buy Program (Until Your Home Sells)
  • Tiered Menu of Services with Flexible Commission structure
  • We Fix Your Home and Finance the Fix (until it’s re-paid at closing)

With all of your strengths and benefits in mind as an agent, you’ll know exactly what you can offer to your clients. Still, it’s important to be prepared before going to a client appointment. Preview active competitors, have market comparable data for the area, and use tools like BrokerMetrics to show how you stack up compared to others. If you can demonstrate your listing proficiency with data, your chances of winning increase.

I suggest that all agents make sure to read or review chapters 3 and 16 in “The Millionaire Real Estate Agent.” These will help you further shape your value proposition. If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.

3865 Eaton Gate Lane, Auburn Hills, MI – Ann Arbor Area Real Estate for Sale

3865 Eaton Gate Lane

Bedrooms: 4

Bathrooms: 2.5

Sq. Feet: 2,420

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Come see this awesome colonial in popular Adams Ridge! This functional floorplan will check all the boxes. Step inside to a welcoming two story foyer. Hardwood flooring flows through the fire-lit living room, dining room and into the heart of the home; the kitchen. The updated kitchen is perfect for entertaining with granite counter tops, a breakfast bar and plenty of cabinet space. The kitchen opens to a cozy family room with custom built-ins and an additional fireplace. Convenient 1st floor laundry and a powder room round out the main level. Upstairs you’ll find 4 generous bedrooms and 2 full bathrooms, including the master suite. The finished lower level features a wet bar/kitchenette, space for home office/playroom and plenty of storage. Pool table included! Recent updates include: Roof w/30 yr warranty (2014), HVAC (2016) & Hardie Plank siding w/50 yr warranty. Residents of Adams Ridge enjoy a vibrant and active community with tree-lined sidewalks, beautiful common areas and tennis court. Schedule a private showing of 3865 Eaton Gate Lane today!

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3677 Gregory
11305 Pinnacle

Toth Team Worldwide Network

Keller Williams Realty

3677 Gregory Road, Gregory, MI – Ann Arbor Area Real Estate for Sale

3677 Gregory Road

Bedrooms: 3

Bathrooms: 1.5

Sq. Feet: 1,040

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Welcome home to an updated ranch on a beautiful 6.5 acre lot with a pond and is ready to move into. This 3 bedroom and 1.5 bath home has a full basement with a wood burning stove that can heat the whole house if needed. You will love the great kitchen with all appliances included and an eating area with great views of trees and pond. All these views can be enjoyed on a large deck as well. Updates include (exterior doors – garage door and opener – New floors throughout – Kitchen counter tops, sink and backsplash – Kitchen cabinets, ceiling lights, stove , refrigerator, washer and dryer – Water heater – wood stove – roof 10-years old – Septic field is 10 years old – Water pressure tank – Fresh paint. Make an appointment soon. This is a great price for a home on 6.5 acres. Don’t miss out on this great home in the Ann Arbor area real estate market! 3677 Gregory Road is definitely worth a look!

Additional Ann Arbor Area REAL ESTATE Listings

3865 Eaton Gate Lane
11305 Pinnacle

Toth Team Worldwide Network

Keller Williams Realty

Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

11305 Pinnacle, Grass Lake, MI – Ann Arbor Area Real Estate for Sale

11305 Pinnacle

Bedrooms: 3

Bathrooms: 2.5

Sq. Feet: 1,792

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This is a fantastic opportunity in Tamarack Glen! This open concept colonial offers the space and tranquility you desire, yet only 20 minutes from Ann Arbor. Hardwood flooring sparkles as the glistening sun comes in from the many floor to ceiling windows. A spacious living room is accented with a gas fireplace for those chilly fall nights. The kitchen offers stainless steel appliances, and a breakfast bar for quick mornings. The master suite includes a standup shower, and his and her walk in closets. You will love the convenient second floor laundry, and a full basement ready for your finishing touches. Outside you’ll find this stunning home set on a half-acre lot, 2 car side entry attached garage, stone patio and large deck for entertaining. Grass Lake offers small town charm, with close proximity to it all with easy access to expressways whether you are traveling to Ann Arbor, Chelsea, Lansing, or Detroit. You will want to come and see 11305 Pinnacle immediately!

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615 N Main
5835 Glen Creek

Toth Team Worldwide Network

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Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

1400 Duncan, Chelsea, MI – Ann Arbor Area Real Estate for Sale

1400 Duncan

Bedrooms: 3

Bathrooms: 3

Sq. Feet: 1,221

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Enjoy easy first floor living in this beautiful Chelsea Springs ranch condo! The bright and open floor plan features 2 full bedrooms and 2 full updated baths on the main level plus an additional bedroom and full bath in the fully finished daylight lower level. Hardwood floors in the kitchen and dining area as well as the master suite. Vaulted great room with cozy fireplace. The master suite features a vaulted ceiling, walk-in closet and well-appointed bath. Convenient first floor laundry and attached garage. Relax on the maintenance free deck outside with electric awning. Great location close to all that Chelsea has to offer with low Sylvan Township taxes. Hurry on this one! Schedule your private showing today of 1400 Duncan today!

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2098 Sheffield
5835 Glen Creek

Toth Team Worldwide Network

Keller Williams Realty

Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

5835 Glen Creek, Ann Arbor, MI – Ann Arbor Area Real Estate for Sale

5835 Glen Creek

Bedrooms: 3

Bathrooms: 2 Full & 2 Half

Sq. Feet: 1,992

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This Hickory Grove Estates home is everything you’ve been searching for! Set at the end of a quiet cul-de-sac on a private lot w/tree-lined backdrop, this home is beautiful inside & out. Step inside to a stunning great room w/soaring ceiling & showpiece fire place. A skylight & transom doorwall fill the space w/sunlight. The great room flows to the formal dining room which leads to the recently renovated kitchen featuring gleaming hardwood, quartz countertops & stainless appliances. Hang out in the casual breakfast nook w/bay doorwall. A laundry/mud room & powder room complete the main level. Upstairs, you’ll find 3 bedrooms including the master suite which is complete with walk-in closet, vaulted ceiling & private 5 piece bath. The professionally finished lower level adds tons of extra living space & features custom built-ins & wainscoting. Step outside to a backyard oasis featuring a spacious deck w/retractable awning & sparkling in-ground pool w/expansive concrete surround for lounging. Stamped concrete terraces provide additional space for grilling & entertaining. Low Pittsfield Township taxes, Ann Arbor Schools and quick drive to major highways, shopping or dining. Trust me, you will actually WANT to stay at home at 5835 Glen Creek Ct!

Additional Ann Arbor Area REAL ESTATE Listings

2098 Sheffield
1400 Duncan

Toth Team Worldwide Network

Keller Williams Realty

Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.

2098 Sheffield Drive, Superior Township, MI – Ann Arbor Area Real Estate for Sale

2098 Sheffield Drive

Bedrooms: 4

Bathrooms: 2 Full

Sq. Feet: 1,424

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Visit our Website for a Complimentary MLS Search

This beautiful ranch home shows like a model and it comes fully loaded with high-end finishes throughout! Gorgeous hardwood floors greet you in the foyer and flow throughout the main level. Coordinating quartz countertops in the kitchen and baths, custom gray cabinetry, well thought-out contrasts & neutral tones will impress the most prudent of buyers. The floor plan features 3 bedrooms and 2 full baths on the main floor, including the well-appointed master suite with walk-in closet, double vanity and stand up shower. The heart of the home is the stunning open concept great room/kitchen combo. The 10ft trayed ceiling and large windows in the great room provide a light filled and functional space that opens into the adjacent gourmet center island kitchen. Pull up a seat at the breakfast bar or step outside via the doorwall to the deck to enjoy your morning coffee. Convenient first floor laundry and mud room. The finished daylight lower level adds a 4th bedroom or home office plus space for a family room or recreation room and it is plumbed for an additional bath. Attached 2 car garage and professional landscaping. All appliances stay. Centrally located close to shopping, dining, expressways, U of M, EMU, parks, Ypsilanti, AA and Canton! Come and see 2098 Sheffield soon!

Additional Ann Arbor Area REAL ESTATE Listings

5835 Glen Creek
1400 Duncan

Toth Team Worldwide Network

Keller Williams Realty

Toth Team Worldwide Network has global aspirations and a growth strategy to meet the modern needs of clients around the world. Toth Team Worldwide Network is among the top one percent of REALTORS® nationally. They have been featured on House Hunters HGTV, and are proud to be the only trusted agent endorsed by celebrity Martin Bandyke on red 107.1. and the exclusive real estate agent for 102.9 W4Country.

Toth Team Worldwide Network exceeds Client expectations while delivering top performance in the purchase or sale of residential real estate worldwide.