Fundamentals in Real Estate Series Part 6 Generating Referrals

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The mark of a professional is to get repeat business. The best source of future business is from past clients and referrals from former clients. These referrals are what your career will be based on so it is critical you have a plan as to harvest this business. By focusing on your best customers and offering superlative service while staying in touch and asking for referrals, you can build a strong business from very few contacts. This process starts from the time you are introduced to the customer. To get a customer’s future business, you must deliver excellent service. Once the client has bought or sold and the transaction nears completion, you enter a critical period.

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Fundamentals in Real Estate Series Part 6 Generating Referrals

  1. 1. Fundamentals in Real Estate Series Part 6 Generating Referrals Pranav Pandya Franchise Development Manager RE/MAX Mumbai Gujarat Maharashtra
  2. 2. RE/MAX Mumbai Gujarat Maharashtra RECAP • Part 1 - Getting Started • Part 2 - Marketing • Part 3 - Prospecting • Part 4 – Working with Sellers • Part 5 – Working with Buyers
  3. 3. RE/MAX Mumbai Gujarat Maharashtra Today’s Agenda • Past clients • Client parties • Keeping your customers • Client follow-up • International referrals • Networking during conventions
  4. 4. Past Clients
  5. 5. RE/MAX Mumbai Gujarat Maharashtra • Thank the client • Ask for referrals • Ask for a letter of reference • Pick it up the next day • Use as part of your listing or buyer presentation
  6. 6. RE/MAX Mumbai Gujarat Maharashtra
  7. 7. RE/MAX Mumbai Gujarat Maharashtra • Client Feedback • For services, a customer’s expectations are: • Reliability and integrity • Tangibles • Responsiveness • Assurance • Empathy
  8. 8. Client Parties
  9. 9. RE/MAX Mumbai Gujarat Maharashtra • Family Lunch / Dinner • Picnics • Movie matinees • New Year parties • Dance/ Play/ Concerts / Events
  10. 10. Keeping your Customers
  11. 11. RE/MAX Mumbai Gujarat Maharashtra Why You Lose Customers? 3% 5% 9% 14% 69% Reasons Customers Move Move Away Or Pass Away 3% Friends Refer them else 5% Cometitiors Provide them better Offer 9% Didn’t like your service 14% Indifference to them 69%
  12. 12. RE/MAX Mumbai Gujarat Maharashtra • Post Purchase Evaluation • It is absolutely critical for you to deliver quality service consistently with customer expectations. • They will not refer you otherwise.
  13. 13. RE/MAX Mumbai Gujarat Maharashtra Factors that can help the perception of Associates • Personality • Length of the Transaction Time • Buying Versus Selling • Market Conditions • Post Purchase Experience
  14. 14. Client Follow-up
  15. 15. RE/MAX Mumbai Gujarat Maharashtra Reasons to Call: • Just to say ‘Hi’ • Anniversary of purchase • Birthdays • Market update • Follow up on mailer • Have buyers in that area • Asking for testimonials • Invitation for lunch/client appreciation party • Follow up report • Show your achievements
  16. 16. RE/MAX Mumbai Gujarat Maharashtra • Contacting Past Clients • Creating “A” List Clients
  17. 17. International Referrals
  18. 18. RE/MAX Mumbai Gujarat Maharashtra • Business cards • Online • RE/MAX • Email and/or Postcard Campaigns • Media promotion • Share a video with your clients
  19. 19. Networking during conventions
  20. 20. RE/MAX Mumbai Gujarat Maharashtra • Working Conventions - The key word is work. • Goal • Plan • Business Cards • Promotional material • Digital Camera • System for Meeting Sales Associates • During the Convention • After the Convention
  21. 21. Thank You

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