Weekly Objective: Embrace the idea that in order to be successful in real estate you must be constantly networking! Unlike traditional 9 to 5 jobs it is important to realize that some of your best income opportunities will be derived from the social situations you are actively engaged in such as kids sporting events, community involvement, church, hobbies, etc.
This week’s plan:
Monday: Understanding the “Givers Gain” philosophy.
Tuesday: Meet someone new!
Wednesday: Networking Groups
Thursday: Social Groups, Volunteering, Church Groups
Friday: Client Parties
Monday Objective: Understanding the Givers Gain Philosophy
When I first got into real estate, I joined a networking group called BNI and one of the 1st principles I learned from this group was a philosophy called “Givers Gain.” This concept is based upon the law of reciprocity, the law of giving and receiving. For some reason, this concept really resonated with me. I began by identifying all of the small business owners I had a relationship with such as my dentist, accountant, tennis instructor, family doctor, insurance agent, plumber, landscaper etc. and consciously began sending them referrals. Each time I did I made sure I called the small business owner to let them know I had referred them and to be expecting a call from my client and to take extra good care of them. What happened after that was incredible. The referrals coming back to me exploded. These business owners could see how I was trying to help their business and they wanted to return the favor. The key to making this system work is to pick up the phone and let your small business owner know that “YOU” are responsible for the referral. If you just give a name and a number chances are your client won’t mention you and the benefit of the referral is lost.
- Identify relationships you have based upon the above mentioned industries, and compile a list of businesses you feel confident in referring.
- Watch Growing Professional Referral Partnerships in Real Estate:
- Customize the following script to use as you follow up after sending a referral:
SCRIPT FOR FOLLOWING UP AFTER REFERRING A CLIENT
“Hi __________ (business owner), I’m John Smith with Silvercreek Realty Group and I just gave your contact information to some clients of mine that need _______________ (a new roof, electrical work, a house cleaner or etc.). Here is their contact information so that you can reach out to them as well. (after they thank you, continue with . . .) I’d also like to continue to refer clients your way in the future! In fact, I am in the process of contacting various businesses that I can refer to my clients and include on a list of preferred business & service providers to give to them. I would also include this list on my real estate page. Would you be interested in being included?” (If yes, continue . . .) “Great! I am looking to develop these professional referral partnerships to help grow each other’s businesses, so if I continue to refer clients to you, would you be willing to refer your clients & friends that are looking to buy or sell a home to me? (If yes, continue . . .) Excellent! So it looks like you already owe me one! (in a jokingly serious tone) I’m not kidding, you had better get on it so that I have to keep sending business your way in return! Does this sound like a good plan to you?