Get More Buyers And Sellers! Outgoing Referrals 101

You've completed your real estate license course requirement hours. Check. You've taken and passed your state and national real estate exam. Check. You've interviewed and accepted an offer to join a real estate company who mirrors your goals and core values. Check. You just wrapped the company's internal training program - required as a tool for jump starting/fast tracking your real estate career. Check. You've learned about working with buyers, working with sellers, completing the contract, negotiating the contract, counteroffers, seller concessions, buyer concessions, home inspections, closing dates, closing attorneys, title companies, lenders, flood insurance, dual agency, designated agency, buyers agent, sphere of influences, listing presentations, broker tours how to complete a BPO, how to show property, marketing with door hangers, farming, mailings, print advertising placement scheduling, open houses, social media, how to operate your lockbox, how to read the showing reports, ordering directional signage, ordering business cards and much, much, more. Check. You are implementing all of the real estate tools you have been taught and trained to use for the past month, 3 months, 6 months. Check. You've closed your first buyer client sale and/or listed your first seller client property. Not quite? We've all been there. As frustrating as starting your career in real estate may be, we all had to start somewhere. Speed up the process of celebrating your first buyer or seller client closing with outgoing referrals. Something few real estate firms teach as part of their jump start/fast track training programs is the masterful art of generating an "Outgoing Referral". Why? Generating an outgoing referrals is not a new concept. Agent-to-Agent and Broker-to-Broker outgoing referrals have existed for as long as the real estate industry itself. Outgoing referrals from past/present clients, friends, family, associates, spheres of influence, et al; this is a category of real estate business that has not fully taken hold en masse among agents. One of the best and easiest revenue generators for new and seasoned real estate agents is outgoing referrals, yet this is the money we leave on the table. We work tirelessly with our buyers. We work tirelessly with our sellers. And yet, in-between contract to closing or upon first meeting our client, we forget to ask our buyers, "Do you have a home you wish to sell back in your city as you are transitioning to this new area"? And we forget to ask our sellers, "Once you sell this home we are listing today, where are you thinking of relocating?". Two missed opportunities to offer your clients round trip, 5-star service as they prepare to embark on their relocation. Yes. They may already be working with an agent; odds on they probably are. However, do you know if another realtor is in the picture, for sure? Isn't it worth 60 seconds of your time to inquire? Isn't this part of the total service we offer as real estate agents and brokers? And guess what? If your client's response is "No"; they are not currently working with a realtor on the other end; then you have opened the door to revenue you almost left on the table. This training manual and refresh guide will gently guide you on how to look for and professionally seek your buyer client and/or seller client outgoing referral. A short prospecting conversation which can potentially yield a 25% - 35% referral fee once closed, can greatly add to your bottom line revenue in annual closed transactions. And, given the recent turn of events, with new laws and legislation affecting agency commissions; now more than ever, savvy real estate agents and brokers, must employ the full arsenal of tools we have available to grow our business base and expand its core with solid success. Just a short conversation with your client(s), who already trust your opinion, can open the door to future earnings.