I taught a class in my office recently on databases and working by referral. It’s one of my favorite things I get to do. I get to tell the new agents something they likely won’t hear anywhere else.
You can do this business by referral. 100% by referral from day one. You don’t have to make cold calls or knock on doors or talk to FSBOs if you don’t want to and I can prove it. I’ve done it and continue to do it every year.
My first broker told me I couldn’t do business this way. She told me repeatedly if I didn’t make cold calls, I’d fail. She used those words and it was disheartening to say the least. I’m here to tell you a better story and to get you on the path to working by referral and it’s free to start. In fact, I’ll teach you what I taught in that class last week and do it for free. I’m working on a new video series to do just that.
Mindset is the key to doing business by referral. Actually, it’s the key to doing anything that moves you from where you are to the next level up. You have to fight for it.
The problem with mindset is it can change over time. To have your mind set on something is great when you start but over time the noise of all the naysayers ( and some of them are inside your own head) can be distracting and distractions are tough on your mindset.
It’s why I changed offices my second year it the business. Not companies but offices. I found a smaller, positive group of agents and a broker who believed I could do it. That change got me on the path to where I am today. I’m still in that office and plan to stay.
I hired a coach, focused on working by referral and proved to myself (and my old broker) I was right. One of the guys I have talked with about this business and doing it this way recently said he’d rather be homeless than make cold calls. I get it. That’s extreme but I truly get it.
The distractions in this business crash in on us daily. Calls from online lead sources, ads on shopping carts and someone promising to get you on the first page of Google, all for a fee. They make promises they can’t keep but put you on a 12 month contract and take your money.
Your coworkers are distractions too. They tell you how they just put a wrap on their car and they got a call from someone in traffic or that new digital billboard got them a call and a sale. It might be true but it’s based more on luck than work.
All of this stuff derails us and wastes our money in the hopes there is an easier way than cold calling or door knocking. We don’t like rejection and those methods are 99% rejection. Working by referral doesn’t have all the negative stuff attached and it builds over time. The longer you do it the easier it gets.
I’m here to teach you what has taken me 15 years to learn (so far). One lesson I got this year is I’m not looking for the largest possible audience but instead the smallest one that I can serve and connect with to be able to receive enough referrals to bring me the business I want. For me that is about 20-30 deals a year. You’d be surprised how many that takes because it’s a lot less than you’d expect.
We’ll talk more about that later but for now, just marinate on this idea and if you want to know more, sign up below for a free eBook I wrote on the topic and for regular updates from me and this blog. When the video class is ready, I’ll let you know.
Thanks for listening,