5 Proven Strategies that Generate MORE Referrals & More Business! | #TomFerryShow S3:E2
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5 Proven Strategies that Generate MORE Referrals & More Business! | #TomFerryShow S3:E2

– If your strategy is putting
your head in the sand, or being in denial, then my friend, you’re experiencing some
serious hurt in your business. (upbeat music) Hey, welcome to the Tom Ferry show. Today, we’re talking about how
do we generate more referrals from your database, creating
for you familiarity, using the power of
frequency and relevancy, so you get the trust of the largest number of people inside your database, so they send you more referrals
and do more transactions. Now, this was prompted
by a video I received from a listing coordinator who was asking on behalf of his team, how
can we generate more listings? Watch this video. – Hey Tom, this is
Hector with the RE Team. Thank you so much for having me. I just wanted to ask, how can
I, as a listing coordinator, generate more listings for my team? Thank you so much, and I appreciate and look
forward to your response. – Hey Hector, thank you for that question. Over the next few weeks, I’m
actually gonna talk to you about the five different
listing lead generation attraction strategies
that you can implement, on behalf of your team, and
for you my friend watching, you can do the same. Let’s start though,
with the war that you’re currently in with the
$16 billion ad spend. You’ve heard me talk about it before. You can Google the Borrell Report, and read how there is
$16 billion being spent, going after your customers,
your past clients, your friends, your family, to go to
somebody else’s sight, so they may or may not find
you, and probably end up on the phone of another
agent in your town. I would argue, if you’re not focused on doing something about
that, if your strategy is putting your head in the
sand, or being in denial, then my friend, you’re
experiencing some serious hurt in your business. Let’s be really clear,
I’ve said it before, you do not win in the real estate business operating from defense,
you’ve gotta go offense, offense, offense, so,
over the next few weeks, I’m gonna give you some offensive plays you can run to stay top of
mind, win more appointments, and ultimately get the
listings you deserve, based upon what our
customers are doing today. So let’s start though, before
I go into the five different campaigns, with the world
famous marketing funnel. We know that there’s basically
intent for customers in three different parts of the
funnel, TOFU, MOFU, and BOFU. TOFU, top of the funnel,
this is people that are clicking on Facebook ads
’cause they’re curious about the value of their
home, but two seconds prior, they were looking at cat videos,
or seeing what their nephew was up to, or checking
out their old girlfriend from 25 years ago, and
then all of a sudden they got displayed an ad, they
said sure I’ll click on that. Now, that’s a very different
intent, psychologically, then someone in the middle of
the funnel, who goes to Zillow and says, you know, three bedroom, four bath home in Waco,
Texas, that’s a very different intent from someone that
goes to Google and says, flourplexes in Costa Mesa,
under 2 million, as an example, what they’re being displayed,
because they’re asking for it, is very different in
terms of their psychology, and their timeframe, obviously,
everybody wants to be in the BOFU section, the
bottom of the funnel. And of course we know that
there’s a ton of people, two percent, three percent,
five percent, ten percent, in realtor.com, Zillow, Google, et cetera, in your geographic farms, all those different
things you could be doing, that are ready to go
now, but be really clear, the one source above all,
that are bottom of the funnel, for you at all times, is
a percentage the people, inside your database. So, remembering this,
because all of these systems are important, and we
will talk about these over the next few weeks,
I wanna remind you, that the bottom of the funnel
is where your database is. Meaning they are most likely to refer you, if you’re doing it right,
they’re most likely to talk about you, if
you’re doing it right, and they’re most likely to call you, even if they went to
another one of those sites. So, let’s talk about five campaigns you can do to find more of those people at the bottom of the funnel,
and keep you top of mind, with the widest number of
people inside your database. So, number one, I would call the thematic marketing
campaign, each quarter. So, let me explain. I’m gonna give you three
pieces, I want you to create, and then email, direct mail, social blast, to your entire database,
and I want you to rotate the three, quarter after
quarter after quarter. So, for example, in month
one, let’s call that January, April, July, October, if you
were starting the new year perfectly, makes sense,
month one, we wanna send a 90 day market update, here’s
what’s going on, in our city, how many listings, how many
closings, the price trends, any actionable data you can give them, so when they’re sitting
around with their friends, and they’re saying, hey, Sean,
did you see what’s going on, over here in Irvine Terrace? The price jumped up by 15%,
there was nine transactions. Look, real estate is on
the minds of everybody. We all know we should be
providing them the data on a quarterly basis, that
Zillow and Trulia, and Realtor, and all these other sites are providing, at their fingertips. If you’re not being the knowledge broker, providing them that information,
you’re losing relevancy, in terms of your market knowledge. Now, when you send that piece,
obviously you wanna give them some insight, what’s
your interpretation of the data, over the last 90 days, what are trends they should be aware of, even if it’s just high
level, everybody’s got access to the data, you’re my knowledge broker, I wanna know what your
opinion is, about it. So, that’s what I wanna do in month one. And that’s gonna be in the,
you know, that first quarter. I’m gonna send that same
thing, 90 days later, beginning the next quarter, 90 days later, beginning the next quarter, et
cetera, et cetera, et cetera. So that’s always the first piece. The second one is, we wanna
send out our social proof, so that means in month two, I’m sending all of my new listings,
all of my new sales, any great case study
examples, of what you did, where you listed it at the right price, and generated multiple offers,
where it was an expired listing and it was previously
on the market with multiple different agents over
a long period of time, you re-packaged it, you repositioned it, you staged it, you did
all the right stuff, and you sold it in four days. You wanna highlight your
success, and by the way, big shout out, to long-time
client Josh Rubin, from Douglas Elliman in New York City, sometimes your successes
started with a mistake. Back in July, Josh actually posted a photo of a 9.5 million dollar sale,
I know, it’s a big sale, but get this, he had
the listing for a year, and he wrote about, in Instagram,
in Facebook and others, that he had listed this
home, did everything he could to get it sold, and the
contract was expiring, and the customers fired him. And he actually wrote about
that, the customers fired me, and he said, but because
of my persistence, because of my drive for
success, because of my desire to succeed, I went back
to the six best agents, who had the six best
showings, and we were able, through some energy,
through some concentration, through some negotiation,
to put that deal together, and get it done before
the July 1st new tax laws, that hit New York City. He wrote about that whole experience, and it started with the
fact, that he was fired. Think about that, and then
what he was able to do, to sell that property. You send that kind of
piece, four times a year, to your entire database in mail, in email, and on all your social
posts, remember, familiarity, frequency, and relevancy
keep you top of mind, and create trust, with the
people you want it from the most. You wanna be top of mind, and trustworthy, for all the people,
inside in your database. In month three, remember
we’re just gonna rotate this through, quarter one,
quarter two, quarter three, quarter four, we’re gonna
take a break from just real estate, and I want you to
share four things to do, during summer, five
things to do in spring, 10 things to do during the
holidays, right, as an example, you’re moving away from
just the real estate stuff, in social, just for this
one piece, in your email, and in your direct mail, to
everybody in your database, hey, here’s five things
you should consider doing over summer, it’s a wonderful
piece, that takes a break from everything else
you’re doing all the time, hey I just took another listing,
hey I’m at an open house, et cetera, and keeping people
understanding that you know the community, and you
recognize there’s all kinds of fun things to do. So, that’s the very first
point, and I promise you, when you just do this one,
you’re gonna get great results, let’s look at number two. Here’s an easy one for
you, how many closings have you had this year? Seven, eight, 10, 700, one thing I know, is if you take action on this
one, you’re going to build your sphere, you’re going
to build you’re sphere, and you’re gonna get some more referrals. It’s a combination of
two things, number one, at the end of every closing,
once the transaction’s done, I’m recommending you send
flowers and balloons, to the buyer or the
seller, or both, ready? To their office, yes, actually
send flowers and balloons to their office, congratulating
them on their new home. And, wouldn’t it be great,
if your flower guy or gal, had balloons that were a
house, and you could put that up there, it shows
up to their office, and the day it does, you
know what’s gonna happen. They’re sitting there, I’m Bob
and Sally, we’re hanging out, and all a sudden, Bob
there’s a delivery for you, and, someone walks up and
goes, boom, this big bouquet of flowers, this giant
balloon with a house, and everybody at the,
hey bob what’s going on? Like, what did you, oh god,
well yeah, we just closed on our new house, and
we’re really excited, and this is what’s going
on, and now they’re telling all their buddies about you. See, sometimes it’s just the
easy things that we can do, to say, top of mind, to
recognize our clients, but then I take it one step forward. Then what I want you to do,
is I want you to reach out with a phone call, hey Bob,
Tom Ferry, Banana Real Estate, did you get the flowers, oh you did? Wonderful, hey, remember Bob,
I told you that I’m working everyday to get to know
more great people like you. You know what I’d love to do, next week, I’d love to buy you, and five
or six people at your office, that are just like you, lunch! So, how about next
Thursday at Restaurant X, I’ll buy, you invite your
friends, and we’ll have a good ‘ol time, how’s that sound? Well, guess what, we’ve
got clients that are using this strategy today, not only
does it create a great moment, hey, congratulations on
the new home, the flowers, the balloon, if it looks like
a house, even better, right, you get some top of mind
awareness, buzz in that person’s environment, what if they’re
in a place where there’s lots of people relocating all the time. What if they’re in a really small office, and there’s just a few
people, and everybody’s like, congratulations Sean, good for you, right. It’s such a wonderful little
moment, then the follow-up phone call of, hey, remember
I told you I’m always looking to build my sphere, and work,
and get to know more great people like you, there’s gotta
be four or five office mates, that I can connect with,
let’s all bring them to lunch, and I’ll pay, I’ll take care
of everything, I’ll pay for it. Boy, what an easy thing you
can do to generate more people into your sphere, make more
connections, and maybe, just maybe, find that next transaction. Let’s look at number three,
a little more advanced. My mentor and I, Jay
Abraham, talk about the three more advanced ways to build any business. One of those advanced
strategies, is to acquire new businesses, once a
year, to grow your business. Now, you might be saying,
whoa, Tom, we’re talking about generating more
referrals, and kind of, that last one was pretty
easy, now you’re telling me I need to buy businesses? Well, consider the following. If you look at around at
the real estate industry, there’s a whole bunch of
people that are thinking about retiring sometime
in the next three years, five years, seven years, 10 years. And if that’s the case, those
are opportunities for you, today, to be establishing
the relationship, where you might be the one
that takes over their database, when they decide to retire,
for a referral fee scenario. There’s gonna be other
people in your marketplace that might be moving out
of the area, especially if you’re in a town, where
there’s maybe a lot of military transferees, or, any other
reason why people would be moving from their state or their city to another. By staying top of mind,
and telling all the agents that you know, hey, if you’re
ever thinking about moving, or you got something to do,
I’d love to partner with you. We have a client, the Garrinsons,
in North Orange County California, who had a similar
situation, and get this, one of the top agents in
their town decided to retire, after 39 years of building
a beautiful family business, and they decided to move off to Oregon. We got together, we negotiated
a very wonderful deal, where they got a piece of the action, we got a piece of the action,
over the course of time, and guess what, in the first
year, they closed 21 additional transactions from the person
who’s now out of state. Yes my friends, it’s an advanced strategy, but a strategy nonetheless. Many people would also say,
hey gosh Tom, what if I didn’t go after that really great
agent, what if I just found, you know, the six or seven
agents that joined us last year, and kinda puttered out? You know they sold one or
two houses, they were really nice people, but they really
weren’t super committed, what if I had them be
a part of my business, and I used their database, them
and I, together in a photo, to market to their customers,
so maybe we still get two or three transactions from
that agent’s database, and you can split the
commission, anyway you like. It is a more advanced
strategy, but know this, it is a strategy that absolutely works. Let’s go to number four. This is an easy one, and yet,
the impact, and the results you will generate, will be profound. Here’s what I want you to do. You’ve heard me talk about
before having your top 10 clients, your top 25 clients,
your top 50 dream clients, as an example, in this case, I
would argue that every single person you’ve sold a home to,
ever, should receive two CMAs a year from you, different
from that, January, April, et cetera, market update, now
I’m actually taking the time, I put it right into my CRM,
so I know month by month, every single person that’s
gonna get an updated CMA on the value of their home, that month. Hey, you might have five a
month, you might have 50 a month, but I know this, when the
customer gets a CMA from you, with a little sticky note
saying, congratulations, you did great, don’t you
wish you would have bought two, little happy face, or something else, you’re doing the same
thing that Merrill Lynch and stock brokerage companies
have done for years, they keep people informed on
the value of their assets. If you don’t, you know what
sites they’re gonna go to, if you don’t keep people
informed on the value of their home, you know they’re
gonna go to someone else’s site, figure it out, and
probably end up in the inbox of another agent in your
town, and if that happens, shame on you! So, start that one immediately,
and we’ll wrap it up, with number five, a bigger
point, but something profoundly impactful when implemented. We’ve all heard about
these networking sites, BNI and others, where we can
network with lots of other professionals in our area,
it’s always a good idea, to be in a business mastermind. The challenge of many cases
is, so many of those groups are already closed ’cause
they only let one lender, or one real estate agent,
for example, be a part of it. So, when people say to me,
Tom, I can’t get into it, because it’s already closed,
my response is, who cares, start your own, yes. I would argue, that you
should start your own business mastermind group, with your
CPA, a business attorney, a divorce attorney, a financial planner, your insurance broker, your loan officer, the head of your local
bank, your florist in town, and maybe a builder or a
handyman, and once a month, you take responsibility,
to coordinate the group, to meet at a restaurant, or your house, or whatever you decide to do,
for an hour and a half or two, and everybody talks about their business. What they’re working on,
what’s working, what’s not, and if you, because especially
you’re hanging out with me, are always getting these fresh
ideas, you can always walk in with three or four things
that you can share. You and I both know, it’s the
law of reciprocity, right, the more you help, the more
you help, the more you help, the more you do these things,
you know what happens, you get it right back, tenfold. So, I would challenge you,
if you’re truly committed, to having the next few years
be your absolute best year ever, this is an easy
strategy you can take on, where you get real deep, with
six or seven or eight local business professionals,
that all have big reaches, and lots of customers that
they’re interacting with, that you can send referrals too. Notice I didn’t say
they send you referrals, you focus on sending them referrals first, and then that machine
kicks in, and goes forever. So, a lot of information
for you to think about, Hector, thank you so much
for asking the question, I know this’ll make a
difference for the team that you’re working on, and
help you work on more listings, through your coordination. So, thank you so much for watching, post some comments
below, and I look forward to seeing you next week

About Ralph Robinson

Read All Posts By Ralph Robinson

5 thoughts on “5 Proven Strategies that Generate MORE Referrals & More Business! | #TomFerryShow S3:E2

  1. Tom…. as part of my morning routine you help me get my mind right and prepare me for my day of progress and power. LOVE THIS VIDEO. SO GRATEFUL. Sent it to three of my friends already. HAVE A GREAT TUESDAY!

  2. Enjoyed watching the video , really explains everything in detail,the video is very interesting and effective.Thank you and good luck for the upcoming video..


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