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.

What You Need to Know About CLUE Reports

Here’s everything you need to know about CLUE reports.

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

What is a CLUE Report?

  • CLUE stands for Comprehensive Loss Underwriting Exchange
  • It provides a glimpse into the past claims history for a specific property and individual
  • Weather related claims, fires, flooding, theft, etc.

 

What Is Forbearance?

A short question and answer session all about matters of forbearance.

 

Want to Buy a Home? Search All Homes

Want to Sell a Home? Get a Home Value Report

9991 Garvett Street, Livonia, MI – Ann Arbor Area Real Estate for Sale

9991 Garvett Street

Bedrooms: 3

Bathrooms: 2

Square Feet: 1,926

 

See Virtual Tour for 9991 Garvett Street

See Additional Photos for 9991 Garvett Street

 

Welcome home to this classic Livonia ranch! This lovely home is move-in ready and waiting for you. The soothing palette compliments the refinished hardwood floors in the living room while the modern tile backsplash and gleaming cabinets are the stars of the functional eat-in kitchen. Two spacious, light-filled bedrooms and full bath round out the main floor living, with new carpeting! Seller will paint 2 of the bedrooms at purchasers color choice! Downstairs, the partially finished basement provides so much potential with the non-conforming 3rd bedroom, extra living area, and a newer furnace (2018). Outside, the patio, yard, screened in porch, in-ground heated pool and hot tub are great for summer BBQ’s and backyard recreation! The 1.5 car garage has plenty of storage space and the extra long driveway provides off-street parking galore. The location is very convenient with most major services within 1 mile including: gas, pharmacy, coffee and more, over 140 restaurants, 8 parks & 41 golf courses within 10 miles. This is a must see!

 

Additional ANN ARBOR AREA REAL ESTATE Listings

774 Calder Court

3134 Baker Road

Toth Team, Worldwide Network

Your Ann Arbor Real Estate Experts

Keller Williams Realty

View Our Listings

Like us on Facebook

Follow us on Twitter

Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.

We want to be your real estate agents!

774 Calder Court, Saline, MI – Ann Arbor Area Real Estate for Sale

774 Calder Court

Bedrooms: 3

Bathrooms: 1.5

Square Feet: 1,400

 

See Virtual Tour for 774 Calder Court

See Additional Photos for 774 Calder Court

 

Stop scrolling… you’ve just found the perfect home! This affordable brick ranch is located on a quiet cul-de-sac in Saline’s popular Rolling Meadows. The seller has taken great care to make sure this home is ready for its next owner! The hardwood was just refinished, the paint is fresh, the carpet is new the only thing missing is you! This floorplan offers 3 bedrooms, 1 full bath and 1 half bath on the main level. The spacious kitchen has granite countertops, breakfast bar seating and an awesome over-the-sink greenhouse window that will give you a view of the large fenced back yard. Hang out in the formal living room or in the spacious family room near the cozy wood stove or relax on the screened porch or deck. The finished lower level adds additional flex space plus there is a separate room for a study or whatever you choose! An attached garage is a huge convenience in Michigan. Brand new front porch! Residents of Rolling Meadows enjoy picturesque treelined streets with sidewalks and green space in the community park. Walking distance to Downtown Saline and highly acclaimed Saline Schools! Schedule your private showing today, this one won’t last long!

 

Additional ANN ARBOR AREA REAL ESTATE Listings

9991 Garvett Street

3134 Baker Road

Toth Team, Worldwide Network

Your Ann Arbor Real Estate Experts

Keller Williams Realty

View Our Listings

Like us on Facebook

Follow us on Twitter

Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.

We want to be your real estate agents!

232 Tiplady Road, Pinckney, MI – Ann Arbor Area Real Estate for Sale

232 Tiplady Road

Bedrooms: 4

Bathrooms: 2.5

Square Feet: 2,336

 

See Virtual Tour for 232 Tiplady Road

See 3D Virtual Tour for 232 Tiplady Road

See Additional Photos for 232 Tiplady Road

 

Welcome home to this lovely Pinckney 4 bed, 2.5 bath Dutch colonial! At just over 2,300 square feet of living space and sitting on a heavily wooded 1.9 acres and backing up to the Reichert Nature Preserve. This home is just what you’ve been looking for. Walk in to find a spacious living room with plenty of natural light, open kitchen, 1/2 bath and dining room. Upstairs you’ll find a spacious master bedroom, 3 additional well-size rooms and an additional full bath. In the partially finished walkout basement, you will enjoy another full bath and plenty of space for entertaining, storage, etc. The separate additional 2-car outbuilding is the perfect place for car/recreational vehicle enthusiasts and the 2nd floor offers so much potential! From additional living space, tons of storage, home gym – the possibilities are endless! Updates include brand new windows (95%), a newer roof (2013), new soffit, trim, gutters/downspouts, and furnace (2018).The location is very convenient with most major services within 3 miles including: gas, cleaners, ATM, groceries, pharmacy, coffee shops & more. The lovely home is within the Pinckney School District and surrounded by 4 lakes, a nature preserve, Pinckney Recreation Recreation Area and is a MUST see!

 

Additional ANN ARBOR AREA REAL ESTATE Listings

1411 Collegewood Drive

3134 Baker Road

Toth Team, Worldwide Network

Your Ann Arbor Real Estate Experts

Keller Williams Realty

View Our Listings

Like us on Facebook

Follow us on Twitter

Kathy Toth and Team are Washtenaw County, Michigan real estate experts who will guide home buyers and sellers through the entire real estate process. Our extensive knowledge of Washtenaw County areas, combined with decades of expertise in the local real estate market is extremely valuable to helping you achieve your goals. For quality service and personal attention during your real estate transaction, contact Kathy Toth and Team for all your home buying and selling needs.

We want to be your real estate agents!

The Delia Group and Toth Team Join Forces

Delia Group and Toth Team alliance “Powered by Infinity”

The Delia Group of Rochester, MI, and the Toth Team of Ann Arbor, MI, have formed a new real estate alliance, combining the strength of five brokerages under a unified operating system powered by the Infinity Group. The combined organization will provide an unmatched breadth of services for home buyers and home sellers in the counties of Oakland, Macomb, Wayne, Lapeer, Genesee, Saint Clair, Washtenaw, Livingston, Kent, Ottawa, Muskegon and Newaygo.

While each company will retain its own brand identity, the Infinity Group will provide sales and marketing support, transaction management, technology support plus an array of client services and agent resources. In addition to The Delia Group and the Toth Team, brands powered by Infinity include Paint Creek Title, Keller Williams Paint Creek and Keller Williams Somerset. An insurance company and a property management company are in future expansion plans.

The new alliance builds on the market leadership demonstrated by Joe Delia of the Delia Group and Kathy Toth of the Toth Team. Each is ranked among the top one percent of REALTORS© nationally.

Joe Delia, CEO of the Delia Group and the Infinity Group, began his real estate career in 2013. By 2017, he was the Operating Principal of Keller Williams Paint Creek and Keller Williams Somerset, with $280 million in sales. His ability to capitalize on new technologies and leverage efficiencies enabled the creation of the Infinity Group, which today serves as the parent company for multiple real estate businesses. The Toth Team is the latest company to become powered by Infinity.

The Toth Team, founded by Kathy Toth, is a well-known name in greater Ann Arbor real estate, having been featured on HGTV’s “House Hunters” and endorsed by Martin Bandyke on radio 107.1. Toth has been featured in the Small Business Review and numerous other publications. With over 30 years of professional real estate experience, Toth’s skills as a real estate coach and trainer will serve a vital role in the Infinity Group.

“Kathy Toth does a phenomenal job with coaching and marketing, and her team’s performance is top-notch,” says Delia. “We’re excited to welcome her to the Infinity Group family of companies.”

For Kathy Toth, joining the Infinity Group was a confident decision. “Joe Delia knows how to make things happen,” says Toth. “He has a vision for the future, and the infrastructure to achieve that vision. We share a deep commitment to our clients and to the success of our teams. This is a win-win for everyone.”

With the Delia Group and the Toth Team powered by Infinity, both companies have charted a course for growth while ensuring that each client receives the best service in the industry. For more information, contact Stephanie Atias, Director of Operations, 248-515-4272.