"Relationships are the currency of today's successful entrepreneur."

I saw that in a book once and couldn't agree with it more, especially for Agents dealing with a market as tough as this.

Think about it: What's the one thing that actually has the potential to be more important than money? In my mind, it's the people you know.

And that makes sense too, because when you look at Realtors all across the country, what's the one thing that differentiates them from their less distinguished colleagues? You guessed it: Their ability to leverage current and past business relationships into bottom line revenue, either in the form of a referral or direct client relationship.

Yet it's in those relationships where most Agents make their mistake.

How many times have you seen people (or maybe even yourself), go to a networking event, meet a bunch of good folks, and then never talk to them again? And it's not that we don't like them or never want to see them again.

It's just that most Agents are very, very busy people. We've got so much going on that often times it's hard to remember what we had for breakfast that morning, let alone reconnect with individuals we just met. Which is a shame too, since it's through those new contacts where future business is born.

Now let me be real clear here. I said relationships are the currency of today's successful entrepreneurs. Which means it's not a race to see how many business cards we can hand out while networking. Nor are we going to pick up the phone book and contact the first 100 people on the list.

Those aren't "relationships," they're just contacts. (And relatively cold ones at that.) Don't believe me? Try making 10 cold calls "introducing yourself" to various people in the neighborhood, and see how that goes. Then after that, contact 5 people you already know and tell them you're putting together a Marketing Plan for the upcoming busy Spring and Summer buying season, and you sure would appreciate any help they could provide -- either in the form of new business or someone they know who is looking to buy or sell a home.

I bet you'll have a lot more success with Door #2.

Why? Because you already had a relationship with those individuals, and depending on how deep it was, most people wouldn't have a problem trying to help you.

So the question becomes, "How can you deepen the relationships with people you already know to the point where they might be willing to help you out in the future?" Well I'm glad you asked, because I've got a few quick steps that can get you moving in the right direction.

1) Go back to all of your clients and give them a personal call. See how things are going in their new home, and inquire if there's anything you can do to help. Ask about the kids, ask about the neighborhood, and let them know that if they run into someone who is "thinking about refinancing or has some questions about their home, that would be a great referral for you".

Notice how you didn't just settle for someone they know who is "looking to buy or sell a home"? That's too general, and quite frankly not as effective as I'd like when it comes to generating results.

With the rates being the way they are, and summer fast approaching, most people should be able to think of at least one person who is at least thinking about doing something with their home.

2) Go back to all of the people who has ever helped or referred you business in the past, and give them a personal call as well. Again, we're just touching base, seeing how things are going. Ideally you'd like to position the call as you learning more about their business so you can eventually return the favor.

Depending on what your relationship is with that person, I'd consider inviting them out for coffee or even lunch. Ask them about their business (or job, or family), and see what you can do to help. Then talk a little bit about your business and how if they run into someone who is "thinking about refinancing or has some questions about their home, that would be a great referral for you".

3) Put together a Hit List of 50 people you'd like to "reconnect" with over the next 12 months. They should definitely include anyone who's given you business over the past year (the folks from the previous steps), as well as any other prospects or people with whom you connected while networking. Put that list into an Excel spreadsheet, and send them a card for the very next holiday (e.g., Memorial Day, Labor Day, 4th of July etc).

4) Mark your calendar during the 2nd week of January to start making personal calls to all of those 50 people (the ones who got Holiday Cards) and see what's going on. If they're past clients or people you've already talked to previously, now is the perfect time to ask for a referral. If they're a prospect, maybe set up some time for coffee to see what they're plans are for potentially using your services over the rest of the year.

The Bottom Line Believe me, in a market as tough as this, the last thing you want to do is let the people with whom you already have a relationship just go by the wayside. They've helped you out in the past, and generally speaking, are open to helping you out again in the future…all you have to do is ask.

And speaking of asking, if you'd like some more ideas on how you can get more business in today's tough market, just email info@agitoconsulting.com (Subject: Today's Tough Market), and we'll be sure to send out our free report right away.