Want to Earn Referrals? Quit with the Bunk (aka BS)
Want to Earn Referrals?
Quit with the Bunk (aka BS)
By: Suze Cumming
A true referral is a sacred gift.
(For this article, we are talking about true referrals - that is, no compensation to the giver of the referral since that is technically illegal in Canada if it is to someone without a real estate license)
To be referred, you must be referable. Are you?
What does that mean to be referable?
Imagine that you are using the services of a plumber and he is pretty good at what he does. He’s friendly, arrives on time and seems to know what he’s doing except that after he leaves the faucet still leaks - less, but it still leaks. You call them back, he returns and this time he is successful in fixing it. You are not unhappy with the service but ask yourself, would you refer that plumber to someone you care about? Most of us wouldn’t and it’s simply because we can’t be sure that the plumber is excellent at fixing stuff and since there is no benefit to us, we wouldn’t take the risk.
Giving referrals is risky. If it goes anything but amazingly well, we could lose some credibility - so most of us only make referrals when we are very confident in the person we are referring.
That level of confidence doesn’t come from being mediocre, good enough or even pretty good. That level of confidence only comes from being so excellent at what you do that people find you remarkable. They are inspired to talk about you to others because they find you to be exceptional and they will take the risk of referring you because they are confident you will deliver an amazing experience to the people they care about and that is what matters to them. More than this- it's important to them that their friends work with you because they don't want to see people they care about have a worse experience with someone else.
I get emails from REALTORS® with tag lines like “I am never too busy for your referrals” in their signature or a quote saying “By Referral Only”. I have people ask me for referral scripts and for other techniques to get more of these high quality warm business opportunities. These are the same people who talk to me about not getting as many referrals as they would like.
I know agents who get so many referrals that they have to choose who they will work with as there just isn’t enough time in their schedule to serve everyone.
And here’s what I know to be true. The agents who get referrals consistently and reliably are excellent at what they do. They are likable, trustworthy, genuine and easy to communicate with. They know the market, understand people, have rock solid strategy plans, great sales skills and are excellent negotiators. They are hardworking, organized and thorough. They are humble and are able to self-manage their emotions and always put their client first. Working with them is not only a joy, it is comfortable, effective and highly successful.
They do not try to trick the people they want to serve with scripts, techniques or fibs. It’s not about having the courage to ask for the referral, it’s about having the work ethic and the commitment to become excellent at what you do.
Buying and selling houses is a big deal and people want to work with people they like and trust. Trust is complex and involves both being trustworthy ( known as effect based or heart trust) and being good at what you do (known as cognitive or head trust).
There is a lot of training and coaching out there that is all about getting clients.
“You are only as successful as the leads you generate.
So the bottom line is, the more leads you get, the more sales you make. Whether you consider leads “good” or “bad” isn’t what we are talking about here, what we are talking about here is volume.”
Well, if you aren’t good at what you do, you’ll need to do a lot of Lead Gen because people aren’t’ going to refer you business.
Did you know that a recent survey done by CREA says that only 34% of people would use their REALTOR® again?
That’s down from over 64% three years ago. Don’t be a part of the move to mediocrity - the easiest and most rewarding way to build an awesome real estate practice is through excellence.