Thursday, 04 June 2020

Not Asking for Referrals is a Costly Bad Habit

Written by Posted On Friday, 04 January 2019 05:00

One of the most common questions I am asked is “How can I get more prospects?” Fortunately I know the answer. Guaranteed. You don’t need more technology. You need to be willing to ask for the business.

If you don’t ask, you will not get. This principle is so old it’s biblical.

I watched this principle in action by the most professional, service-oriented real estate sales agent ever to sell real estate. Her name is Doria, now retired.

She always had something good going for her, no matter what. She just got a listing, made a sale, was going to a closing, meeting a prospect. Doria was always willing to help other agents and share her knowledge. There wasn’t a greedy bone in her body, but competitive? That’s another story.

I asked her one day what her secret was. She said, “No matter where I am, I always ask the people I meet if they happen to know someone who is thinking of buying or selling a home.”

Then she proceeded to tell me about the prospect she had just sold a $300,000 condominium to. She met them while at dinner the day after she listed it. While at dinner she engaged the couple at the next table in conversation then told them she had just listed a 3-bedroom condominium that day and wondered if they may know someone who might be interested in buying one.

As it turns out, they did not know anyone, but they themselves were interested and bought it.

When I commented on how impressed I was with her focus on asking people for their business, she said, “Do you have any idea what ‘not asking’ would cost me? By not asking this couple I would have lost a commission of around $8,000. Not asking can be very expensive.”

“We have not, because we ask not,” she added. “This condo sale is a perfect example of the principle. Most of the agents don’t believe this to be true, but I do. That’s why I ask.”

The Lesson: Ask for the business, then expect to get it.

By the way, do you know someone who might benefit from learning how to build a new homes niche? Thank you in advance for the referral.

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David Fletcher, NHCB

Lifetime Achiever David Fletcher is Founder and CEO of New Home Co-Broker Academy LLC, home of the New Home Co-Broker (NHCB) designation. More than 4,000 real estate agents have completed the  Academy's course, How To Build A New Homes Niche, a three-hour online course based on research, case studies and David's  long career recruiting, training and supervising onsite teams, who sold more than $3 billion new homes and condominiums.

Along the way, he wrote Condominium Sales and Listings and has been the featured speaker for the National Association of Realtors and a present at the International Builders Show. He served as chair of the Sales and Marketing Council for the Florida Home Builders Association. 

He started in real estate as the project manager for Bay Island, of the first major condominium communities in Florida. During this time, he obtained his Florida real estate broker's license, served as chair of the Sales and Marketing Council for the Florida Homebuilders Association, earned his MIRM designation, and served as president of the Florida Condominium Developers Association. It was here that he leaned to work with local Realtors, 

After a successful three-year run, he brokered 27 lender workouts, 11 rental conversions, a TPC golf course, and more than 1000 condominium units in six different communities. 

He recruited, trained and supervised onsite sales teams for more than 70 communities, always insisting on co-broker cooperation in his listing agreements. 

He has been a contributor to Realty Times for 16 years and contributed to Inman News for 3 years. 

His education philosophy is based on these simple assumptions:

  • Builders need qualified buyers. Realtors need saleable inventory. 
    Today's home shoppers expect their Realtor to help them navigate the buying process whether it be for a resale or new construction. 

To lean how you or your office can benefit with our popular online new homes course, visit our website. 

newhomecobroker.com

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