RISMedia's Real Estate Magazine

MAY 2019

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1109029

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Page 98 of 118

94 May 2019 RISMedia's REAL ESTATE In fact, the familiar leads are the most worthwhile, according to Brooke Sines and Terri Murphy, who divulged their referral strategies in the "How to Find Gold in Referrals" webinar, hosted by Homes.com, RISMedia and Workman Success Systems. Both Murphy and Sines empha - sized the importance of nurturing your Top 50, or the 50 individuals most likely to provide you one refer - ral a year. Identify your MVPs. To begin, deter - mine who your 50 MVPs, or "most valuable partners," are. According to Murphy, often, agents can eas - ily identify 35 individuals, but have difficulty pinpointing 50. When that happens, consider who you've giv - en referrals to. "We refer contractors, painters, plumbers, home inspectors," ex - plained Murphy, a coach with Work- man Success Systems. "Deploy the power of reciprocity." It's critical to fine-tune the list of 50, as well, said Verl Workman, moderator of the webinar. Assess who on the list referred you, and change it, if needed, so that your 50 are actively giving you one refer - ral (or more) a year. Learn about them. Once you have your Top 50, ask them for basic in - formation, like their birthday, said Sines, also a coach with Workman Success Systems, and an associ - ate at RE/MAX of Grand Rapids in Michigan. Sines does this with a Google Form, which asks for the birthdays of the individual and the individual's kids and spouse, as well as their anniversary date. She also makes note of their profes - sion, so she can accurately apply FORD—family, occupation, recre - ation, dreams—when talking with them. "Focus on building and deepen - ing the relationship before you ever look at the opportunity," Sines said. "Knowing what profession they're in is priceless." Plan your touches. Both Murphy and Sines advocate for dialogue that's face-to-face or over the phone, and at frequent intervals—and, activi - ties focused on helping them, not soliciting a transaction. Map these out in a month-to-month plan: • January – Call and check in with a "Happy New Year." Ask if they'd be interested in a mort - gage review. • February – Coordinate with a lo - cal pastry shop, and mail sav- ings/vouchers to your Top 50. • March – Ask your MVPs for their local recommendations. • April – Call with a free identity- theft review. • May – Gather for lunch. • June – Deliver kits for "summer survival." • July – Donate to a local organi - zation, in their name. • August – Host a movie night. • September – Gather your MVPs for a party to say thank you. • October – Deliver sweets and treats. • November – Offer pies for Thanksgiving. • December – Collect donations or food at your office, and ask your MVPs to participate. Whatever your activity, being gen - uinely interested in a relationship is vital. "When you have a relationship with someone and things go wrong in a transaction, you get through it—but when there's no relation - ship, it gets personal fast," Work- man said. "Relationships not only create opportunities, but they also solve problems. Focus on the rela - tionship, and the transaction will take care of itself." RE To view the webinar in full, visit https://bit.ly/2U4XsW9. Suzanne De Vita is RISMedia's online news editor. Webinar Recap Gold in Referrals: Deepen Relationships, Dig Up Success by Suzanne De Vita B uying leads is only a potentially profitable strategy. Cultivating them from your database, according to a recent RISMedia webinar, is a sure thing.

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