Latest / The Real Estate Agent Playbook / Grow Your Real Estate Business with Referrals, Not Leads

Transcript

Grow Your Real Estate Business with Referrals, Not Leads · The Real Estate Agent Playbook

• 0:00
  I talk to agents all the time
• 0:01
  that are interested in joining the Wolf Pack
• 0:03
  or interested in the coaching I offer
• 0:05
  and the first thing they ask is
• 0:07
  do you provide leads how do you create leads
• 0:10
  and the truth is is that leads is such an overused
• 0:13
  misused term in our industry
• 0:15
  as we talk about
• 0:17
  conversations are much more valuable than leads
• 0:20
  leads are just data sets and the truth is
• 0:23
  if you can develop a way to work by referral right away
• 0:27
  right out of the gate you can have success
• 0:29
  just like I have had in this industry
• 0:31
  selling homes by referral
• 0:33
  and never spend any of your hard earned money
• 0:36
  for those paid leads that struggle to convert
• 0:39
  and absolutely waste a ton of your time
• 0:42
  I'm gonna talk about that so stay tuned
• 0:49
  what's up guys Jeremy Kane
• 0:50
  the Real Estate Agent Playbook
• 0:51
  super excited for this new direction
• 0:53
  we are taking the channel
• 0:54
  this year we will have one video that's educational
• 0:58
  helping you get a win in real estate every day
• 1:01
  and then we will have another one
• 1:03
  that's a collaboration based on something different
• 1:06
  bringing an agent in to share their expertise
• 1:08
  their secret sauce with you
• 1:10
  so that'll be two videos a week as we've always done
• 1:13
  but one will be the traditional format
• 1:15
  with me talking to you
• 1:17
  sharing all my wisdom and knowledge
• 1:19
  and then a collaboration
• 1:20
  where I bring somebody from the Wolf Pack
• 1:22
  it'll be titled The Wolf Pack Way
• 1:23
  so look out for that but while you're here
• 1:25
  like comment subscribe
• 1:26
  hit that notification bell
• 1:27
  so you can see how this new format takes form
• 1:30
  over this year really excited about that
• 1:33
  if you're listening on the podcast
• 1:34
  please share the episode
• 1:36
  please let your favorite real estate agent know
• 1:38
  that this podcast is available on audio
• 1:42
  and bringing that you know
• 1:43
  conversational peace with those collaborations
• 1:45
  will absolutely
• 1:47
  help that community grow as well
• 1:49
  so let's get right to it
• 1:50
  why does a referral based business work
• 1:53
  and when I'm coaching agents
• 1:54
  and actually
• 1:55
  the agent that I'm doing the interview with This Week
• 1:58
  on the next episode she talks about how she'd almost
• 2:01
  didn't believe working by referral would work
• 2:04
  and the truth is that it takes a leap of faith
• 2:07
  but the best part about it is when you
• 2:10
  as the agent are building a business
• 2:13
  kind of holistically through everything you're doing
• 2:16
  it is so much more rewarding
• 2:18
  so much more fun and so much more lucrative
• 2:21
  than chasing a bunch of strangers around
• 2:24
  chasing a bunch of data sets around
• 2:26
  and the truth is that
• 2:27
  most of the companies that sell leads
• 2:29
  sell the same lead over and over and over again
• 2:32
  so not only are you trying to chase down a stranger
• 2:34
  and build rapport immediately
• 2:36
  but this person has probably been contacted
• 2:38
  or attempted to be contacted
• 2:39
  by other agents in your area
• 2:41
  and who knows how long
• 2:43
  that leads been floating around
• 2:44
  as someone who's a lead
• 2:46
  but maybe they just wanted to see pictures
• 2:48
  or maybe they're on some AI list that has
• 2:50
  you know the people likely to move or whatever
• 2:53
  so the beauty of building a referral based business
• 2:57
  is that you automatically
• 2:59
  have the trust
• 3:00
  of the person that's been referred to you right
• 3:02
  if somebody says hey
• 3:04
  I've had a great experience with Jeremy
• 3:06
  or Jeremy's marketable or knowledgeable on the market
• 3:10
  and Jeremy has great marketing sense or whatever it is
• 3:12
  anything that they give you
• 3:14
  while they're making that connection is a touch point
• 3:17
  that
• 3:17
  this person already has a little bit of trust in you
• 3:21
  and as you build this trust
• 3:22
  and you build the rapport
• 3:23
  with that individual relationship
• 3:25
  that starting point is key
• 3:27
  and so as a referral it's huge now you say well
• 3:30
  Jeremy I'm a new agent or I'm an agent here and I just
• 3:35
  you know I I just haven't had success with this
• 3:37
  the truth is you're looking at it a little bit wrong
• 3:40
  you have the ability to have conversations
• 3:43
  with people in different industries
• 3:44
  with people in different businesses
• 3:46
  people that you can help grow as well
• 3:48
  and if you are able to say okay
• 3:50
  I wanna work by referral so
• 3:53
  I want to basically be the person that
• 3:55
  when real estate is mentioned
• 3:57
  that people will refer to well
• 4:00
  maybe you should
• 4:01
  build relationships with local businesses
• 4:03
  industry partners community partners
• 4:05
  restaurant owners salon owners bakers
• 4:07
  chefs uh
• 4:09
  you know doctors lawyers
• 4:10
  attorneys all the people
• 4:12
  and when you have the opportunity to give a referral
• 4:16
  you should do that
• 4:17
  you should lead with that value and say hey
• 4:20
  I have the best estate attorney
• 4:22
  I need you to talk to him or hey
• 4:24
  you're having trouble with you know
• 4:27
  your your parents getting older and you know
• 4:30
  they need long term care or something well hey
• 4:32
  let me connect you with my friend Carrie
• 4:33
  that's what she does all she does is
• 4:35
  spend all day looking for resources for elderly people
• 4:39
  she works with you she has consultations
• 4:40
  she makes those connections and then steps out
• 4:43
  if you find those people
• 4:45
  because you're looking for them
• 4:46
  and you become the resource that knows a guy or a gal
• 4:50
  for every little piece of the puzzle
• 4:52
  then
• 4:53
  not only are you going to be helping your community
• 4:55
  and you always become the person that has somebody
• 4:58
  but also you are teaching the person you're referring
• 5:01
  how to refer you business back
• 5:03
  and that's the key
• 5:05
  and that's where this magic really starts to happen
• 5:07
  so if you say well you know
• 5:09
  I I don't have any clients so who's gonna refer me
• 5:11
  well that's probably better right
• 5:14
  you go out
• 5:15
  you have time to meet with partners and you know
• 5:17
  community people and all the things and you just say
• 5:20
  hey look how can I refer you business right
• 5:23
  if if I have somebody that needs something
• 5:25
  who's your perfect client
• 5:26
  how can I refer them there is a
• 5:28
  probably a 0% chance that
• 5:31
  if you walked up to a small business owner
• 5:33
  and said that that they would just be like
• 5:35
  this is how you do it thanks
• 5:36
  here's my business card right
• 5:38
  they're gonna ask you the same thing
• 5:39
  and who are you looking to help
• 5:41
  and what's your you know
• 5:42
  business model and all the things
• 5:43
  what's the strategies you're using
• 5:45
  and then all of a sudden
• 5:46
  you're talking about partnerships and collaborations
• 5:48
  and all the things so this is really where it starts
• 5:52
  right you need to refer other businesses
• 5:55
  to the people within the conversations
• 5:58
  that you have to have
• 5:59
  in order to be successful in this business
• 6:01
  so that not only do those people get served
• 6:04
  you become a resource to them
• 6:05
  but also the people that you're referring
• 6:07
  and you're helping them build their business
• 6:09
  will refer it back to you
• 6:11
  so immediately we have that synergy and trust right
• 6:14
  when when someone comes to you and it's like hey
• 6:16
  Jeremy's excellent in the market
• 6:18
  he knows exactly what to do
• 6:19
  he won't steer you wrong
• 6:20
  that's a whole wall that we don't have to break down
• 6:23
  right I cannot
• 6:24
  tell you how many times
• 6:26
  I'm talking to people who are buying or selling a home
• 6:29
  and they say our last agent didn't do anything
• 6:31
  our experience wasn't great or our experience
• 6:34
  was just okay right
• 6:36
  we didn't know this we didn't know that well
• 6:38
  when those people are telling me this I'm like okay
• 6:41
  well it's very
• 6:42
  important that I communicate
• 6:43
  every detail of the contract
• 6:45
  to these people as we're going through the process or
• 6:48
  hey these people thought the other agent was annoying
• 6:51
  and focused on this and
• 6:52
  and struggled a little bit in the negotiation
• 6:54
  so I'm gonna highlight those negotiation skills I have
• 6:56
  in order to move that conversation forward
• 6:59
  but all of that starts with
• 7:01
  you know that
• 7:02
  a lot of that gets wiped away
• 7:05
  when these people are referred to me
• 7:06
  because they're like oh
• 7:07
  well you know
• 7:08
  Joe referred me this lender and it was great
• 7:10
  but I didn't work with him on the real estate side
• 7:12
  and I probably should have
• 7:14
  but I didn't and now
• 7:15
  he's referring me to you
• 7:17
  because he's no longer in the business and
• 7:20
  you know
• 7:20
  because that previous referral went really well
• 7:23
  I think that this is gonna go really well too
• 7:26
  so you're already off on the right foot
• 7:28
  you can hear why it was a bad experience
• 7:30
  you know exactly what to do
• 7:31
  you know the playbook
• 7:32
  because it's not about building that rapport from
• 7:35
  you know a phone call or a doorknob or whatever
• 7:38
  certainly there are amazing people out there
• 7:40
  if that's working for you
• 7:41
  please please please don't stop
• 7:43
  because all you're doing is building up that network
• 7:45
  as you go for more referrals
• 7:48
  but a lot of people really struggle with that initial
• 7:52
  right
• 7:52
  cold lead kind of system and I'm here to tell you
• 7:56
  I've worked very little cold leads in my life
• 7:59
  I've sold almost 500 homes
• 8:00
  so that's something that I want to portray to you
• 8:03
  and it is possible
• 8:04
  it's just about kind of a giver's gain
• 8:06
  The Go Giver is a great book
• 8:07
  if you haven't read that
• 8:09
  I highly suggest reading that book
• 8:11
  so then how do we build on those referral businesses
• 8:14
  when someone refers you obviously thank them
• 8:16
  do whatever you can
• 8:17
  within your legal rights and your market to do right
• 8:20
  but also make sure that you take care of them
• 8:23
  because I've referred you know
• 8:25
  a ton of people
• 8:27
  it's not the gift card I get in the mail
• 8:29
  or whatever they send me you know
• 8:31
  as a thank you it's
• 8:34
  how did my clients feel when they had that experience
• 8:37
  and you were referred to them right
• 8:39
  because here's the deal you're not on my referral list
• 8:42
  if you're not executing and doing the thing
• 8:45
  and feeling the need
• 8:46
  that the person that I referred to you needs
• 8:49
  and so I feel the same way on my end right
• 8:51
  if I if it's a referral
• 8:53
  I'm gonna make sure that every t is crossed
• 8:55
  and I is dotted as we go through the process
• 8:58
  and so that's how you build that trust right
• 9:01
  you take care of them it's an exceptional
• 9:03
  you know thing and and so on
• 9:05
  it's not the great gift I send you
• 9:07
  it's how I manage the referral that you sent me
• 9:10
  and how their experience goes
• 9:12
  that carries the day and wins the day
• 9:15
  and so as we kind of get get through this right
• 9:19
  we're leveraging a massive network right
• 9:22
  because if you have a referral
• 9:24
  that's somebody that already trusts you
• 9:26
  you have the ability to meet with this person
• 9:29
  and have access to all of their network
• 9:33
  if my buyer and seller have a great
• 9:35
  you know
• 9:35
  say they're going to sell a house and buy a house
• 9:37
  they have a great experience well
• 9:38
  they have a whole new network that just one person
• 9:41
  you know made the referral
• 9:43
  so there's a whole another set of people
• 9:46
  that now these people are going to refer right
• 9:49
  and now
• 9:50
  they have a bad experience with the previous agent
• 9:53
  they have a good experience with me
• 9:54
  and so that allows them to want to be like hey
• 9:58
  this is how it is I don't want my friends my family
• 10:00
  my loved ones to have a bad experience
• 10:02
  so we're going to refer Jeremy
• 10:04
  so if you you see how this kind of works
• 10:06
  leveraging those professional networks
• 10:08
  absolutely matters
• 10:09
  and if you can go into these networking
• 10:12
  these weird networking events
• 10:13
  right that we all try and go to and you know
• 10:16
  whatever right what's anybody want from me
• 10:18
  whatever right if we're going into these events with
• 10:21
  how can I build your business with you
• 10:24
  alongside you as a partner of yours
• 10:27
  that is where the magic happens
• 10:29
  I talk so much on industry partners
• 10:31
  I talk it on stages I talk it all over the place
• 10:33
  I talk it to my people because as a new agent
• 10:38
  or as an agent that's struggling
• 10:40
  you need a better circle around you
• 10:42
  of industry partners and community partners
• 10:44
  you have the time if you're struggling in production
• 10:47
  and you don't have a lot of houses
• 10:48
  to go out and find the very best
• 10:50
  meet with the very best see what they're doing
• 10:52
  learn from them you know
• 10:53
  take from you know
• 10:54
  all the knowledge that they have to give you
• 10:57
  and then ask him how can I refer you clients
• 10:59
  what's your perfect client
• 11:00
  how can I help you build your business
• 11:02
  and you got them right
• 11:04
  just by asking those questions
• 11:06
  they're going to
• 11:07
  respect you on a little bit different level
• 11:09
  you're not asking them for leads
• 11:11
  like a lot of agents sit down
• 11:12
  they're like hey
• 11:12
  give me leads give me leads
• 11:14
  that carries over to lenders
• 11:15
  and title people and inspectors that you meet with
• 11:18
  that's just how agents roll
• 11:20
  change the focus change the value you can add
• 11:23
  build a lasting relationship with each and every client
• 11:28
  each and every client is an average of five to seven
• 11:30
  deals across a lifetime
• 11:32
  depending on their age right
• 11:34
  so if
• 11:34
  you're able to get five to seven deals from one group
• 11:37
  that's a really good deal right
• 11:39
  and imagine they refer you two people a year
• 11:42
  one person a year one person ever
• 11:45
  and you get five to seven out of that person
• 11:47
  and then how many do they refer you right
• 11:49
  it's a massive snowball effect
• 11:52
  that absolutely can take you to the next level
• 11:55
  in your industry
• 11:56
  people say you can't scale building by referral
• 12:00
  that's absolutely not the case
• 12:02
  so I hope this helps I hope this hit home
• 12:05
  if you have any questions
• 12:06
  please comment below
• 12:07
  if you're interested in partnering or coaching
• 12:10
  you know where to find me check me out on Instagram
• 12:13
  the re agent playbook and I'll be happy to help
• 12:15
  send me a DM comment below email phone number
• 12:18
  all the things are in the the show notes below
• 12:20
  so I hope you have an excellent day
• 12:22
  hope you get another win today
• 12:23
  in the game of real estate
• 12:25
  but don't sleep on the referrals
• 12:26
  and the ability to network
• 12:28
  your way to the top of this industry
• 12:30
  we'll see you next time