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Referrals are one the best ways to get a steady stream of income without making a large investment. But how can you get people to talk about you? How can you build a referral machine both online and offline? And how should you keep in touch with your database? On this episode, we answer these questions with Elite Real Systems leader, Jeff Cohn.
If you have a 5-year goal and you do every single thing you believe you need to do to reach that 5-year goal, you will probably get there in 2-3 years. -Jeff Cohn
Three Things We Learned
Create unique content
One of the best ways to make people talk about you is to create unique content for each neighborhood you’re in charge of. Make videos of the neighborhoods. Take as many photos as possible, and bring information to the table that can’t be found in the listing.
Build your own Google
Instead of constantly searching for new people, use Excel or a CRM to create your own database. Make sure you tell everyone you meet how you can help them, and get their contact info. Send your database occasional emails and text messages on the value of their property, as well as how many properties are being sold nearby and if there are any bargains on the market.
Cold calls still matter
No matter how intense your branding efforts are, cold calls still matter. You should make at least 20 phone calls per day and spend at least 20 hours on the phone per week in order to get results. But make sure you always bring something of value when you give a call. It could be an update of what’s happening on the real estate market, the fact that you have buyers in a certain areas, etc.
McDonalds never apologized to Burger King for having ten times as many restaurant locations. -Jeff Cohn
I wanna stop teaching real estate and build a business that can grow without them being necessary. -Jeff Cohn
The secret to expanding your referral machine is to add more people to your team. Share everything you know with them, and after they become experts at what they do, provide them with resources, technology, and incentives they can’t find anyone else. If you choose to do everything by yourself, you will soon find yourself limited. But if you create a system, your business can expand indefinitely,
Click here to download your free PDF, Greg’s Favorite Scripts, featuring scripts for buyer and seller lead follow up, price reduction and objection handler scripts and much more.