Referrals are still the number one method of acquiring clients through friends, family, and satisfied clients. But another source of great referrals - other Realtors - is often overlooked.

Brampton/Toronto broker Carolyne Lederer says that networking through other Realtors is an important cornerstone of her business.

"When you are so fortunate as to find a good "referral" Realtor, one to whom you can whisk away a few lines in an email and receive a prompt reply (within hours - not days) - be sure to stay in touch with this person," says Lederer. "It may be months, or even years, before you have the opportunity of working together again, but in the interim keep that name in your active contacts list."

Lederer suggests sending a note or an e-mail every once in awhile. I know what you're thinking - you don't have time for that, but no one is too busy to do this. "You are building a life-line for your business," says Lederer. "This is your future. If you don't do this, you won't have a future in real estate. The industry is just moving at a relentless rate, and at the best of times, it is time-consuming work just to be in this business."

Just the same way that you ask your satisfied clients to refer your name to their friends, relatives and business associates, ask your "referral Realtor" to pass along your name to others in their offices, she says. She offers incentives for brokers and agents to remember her.

"My company offers a special "Referrals for Life" program, that I implemented a few years ago. It is a two-part program which works like this. You send me a referral. The people buy or sell a house. You get paid. But what happens after that? If the family moves again, you get paid again," explains Lederer.

"This happens frequently. You refer a client and they buy a home. Two years go by. The phone rings. The buyers/sellers have been transferred again. You already got paid your referral fee, right? In the normal workings of the real estate business, you are history, but not with the Referrals for Life program. When you send me a referral, you get paid again, and again, and again... no matter how many times this buyer/seller moves, and uses my services."

Lederer doesn't stop there but continues to pay the trail that may lead to referrals. "Now for the second part. Let's say that you got my name from another Realtor in your office. The first agent receives a small cheque (or gift certificate) which equals 5% of the amount that the referring Realtor received.

How does that work? "Let's say the referring Realtor receives a cheque in the amount of $800. (Canadian)," outlines Lederer." Now the colleague who gave over my name gets a cheque or gift certificate in the amount of $40. (Canadian)."

Although the amount of the second referral is about the cost of a tank of gas or a lunch out with friends, it is a dividend that keeps on giving. "Believe me... Realtors remember," enthuses Lederer.

Since implementing this program, Lederer has seen other agents employ it, too, and has been the beneficiary of a good deed come back to roost. "I sent a buyer to Rod Doris who serves the Bowmanville, Pickering areas in Ontario, Canada. a couple of years ago. I got my referral fee promptly. Then, a few months ago, I received a surprise referral cheque.... those people had just sold their home with Rod - the one that they had purchased through him a couple of years ago!"

As a further incentive to participate in Lederer's Referrals for Life program, Lederer keeps track of her Web site visitors who fill out contact forms. When she knows of a referral Realtor in their area, she sends them a signature file to help put them in touch with the appropriate referral Realtor. "I forward the request-for-help form and the job gets done," says Lederer. "They get paid. We get paid. And the surfers are thrilled that someone took the time to answer their mail."

Lederer pays a 25% referral fee, and outlines the fee and receivables information with the forwarded referral. All communication is by email, and Lederer clips a copy of the referral Realtor's email acknowledgment verification to the government paperwork, rather than faxing copies back and forth. Upon consummation of a transaction, Lederer requires a copy of your office trade record information sheet, in order that her office may complete the files.

Now that's networking at its finest.

Published: May 29, 2000

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Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. For more articles by Blanche, click here.