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Today we are going to talk about how to turn a repeatable, simple action into 50 referrals with Scott Hudspeth.
Joining us is Jordan Adler, who will be sharing how he has seen success with repeatable, simple actions.
Jordan shared with us a story that takes place about fifteen years ago. Jason, a man he had never met before, was slandering his name all across the Internet. Jordan was understandably upset and wanted to take action, so he spoke with an attorney and had them draw up a document for a few hundred dollars. He was about to send it, but ended up speaking with a friend who suggested he send Jason a card instead. Jordan took this to heart and sent him a card, a Starbucks gift card and a note that said something along the lines of “We need to get together sometime and talk about marketing, you’re really good at it.” Within ten days of receiving the note, Jason took his poor review down AND put up a positive review.
As fate would have it, Jason connected with Jordan a little bit later and ended up becoming friends and working for the company, where he became one of the top 3 recruiters.
You may be asking yourself what the point of this story is – and I’m going to tell you:
Jordan had two choices, two perspectives. One was to have the attorney send the letter and threaten Jason until he took the negative review down. The other was to shift his perspective and see it for what it was: Jason’s attack on Jordan was nothing personal, it was merely an attention grabbing headline to bring users to his site. Nothing more or less. So Jordan shifted his perspective and in doing so, gained a friend and an incredible worker.
What does this have to do with Real Estate Agents and Loan Officers?
The market is starting to shift and will soon become a soft market. While a soft market is not necessarily bad and homes will still be bought and sold, it will weed out the Agents that are not standing out. What does that mean? In a soft market, you have to stand out to be chosen. This may look like following up with your clients, even after their sale has been completed. Maybe it’s following up with them on birthdays, holidays, anniversaries, etc. What about calling and leaving them a thoughtful message? These seemingly small acts lead to more business and more referrals.
Fifteen years ago someone broke into Jordan’s home. He would leave for a business trip and without fail, something would be amiss when he got home. Nothing was ever stolen, but lights were turned on that had not been on before, doors were ajar, etc. This had been occurring for four months when Jordan arrived home one day and found a boot print on his dresser. It was at that moment he decided he needed to install a security system. But when the time came, he couldn’t think of a single name despite having met numerous security professionals.
The same concept goes for those in Real Estate:
You’ve probably met or networked with 50+ realtors, but who are the ones that stand out? The ones who stand out are those who took the time to write a heartfelt card or follow up with a message or gift.
For example, let’s take a look at Joe Girard. Joe Girard was recognized in the Guinness Book of World Records several years in a row for selling the most cars in a year.
How did he do it? Joe’s strategy was to build a rock solid relationship with everyone, and he did so through sending a card every month to everyone he knew. Sometimes it was for their birthdays, holidays, or just to check in. Either way, it helped him build relationships and when the time came when someone needed to purchase a car, they knew who to call.
If you send 100 contacts a nice note just one time, you will probably receive two sales out of 100. That’s an additional 20k in commission. Then you send a message and receive two more sales out of 100. Next, you send a gift or a birthday card; that’s around four more sales out of 100.
Then there are referrals:
Two realtors were attending a Chamber Conference and saw caterers set up with their business cards in front with the food. They snapped a few photos and when they got home, they emailed the photos and a nice note to the caterers. The caterers took note that the message was from a Realtor and they decided to contact them. Thus began a a friendship between the realtors and the caterers.
Pretty soon, they were attending their daughter’s wedding. When the daughter and new son in law needed to purchase a home, they contacted the realtors. All of this led to 8 homes being bought and sold within the family over the course of six years. One single relationship led to over 100k in commissions. That is the power of going the extra mile.
When you meet someone new, nurture the relationship. Keep communicating with clients. After all, it is how you determine how much business you receive.
The way to obliterate all competition is to have a rock solid relationship with every single client. Keep checking in, keep showing up, and when the time comes, you will be the one helping them purchase or sell their home.
Are you intrigued yet? Head over to 5moreloans.com and set up a consultation with me, Scotty Hudspeth. Let’s make 2023 an unforgettable year!