fundamentals in real estate series part 6 generating referrals

Fundamentals in Real Estate Series

Part 6

Generating Referrals

Pranav PandyaFranchise Development ManagerRE/MAX Mumbai Gujarat Maharashtra

RE/MAX Mumbai Gujarat Maharashtra

RECAP

• Part 1 - Getting Started

• Part 2 - Marketing

• Part 3 - Prospecting

• Part 4 – Working with Sellers

• Part 5 – Working with Buyers

RE/MAX Mumbai Gujarat Maharashtra

Today’s Agenda

• Past clients• Client parties• Keeping your customers• Client follow-up• International referrals• Networking during conventions

Past Clients

RE/MAX Mumbai Gujarat Maharashtra

• Thank the client

• Ask for referrals

• Ask for a letter of reference • Pick it up the next day• Use as part of your listing or buyer presentation

RE/MAX Mumbai Gujarat Maharashtra

RE/MAX Mumbai Gujarat Maharashtra

• Client Feedback

• For services, a customer’s expectations are:• Reliability and integrity• Tangibles • Responsiveness • Assurance • Empathy

Client Parties

RE/MAX Mumbai Gujarat Maharashtra

• Family Lunch / Dinner• Picnics• Movie matinees• New Year parties• Dance/ Play/ Concerts / Events

Keeping your Customers

RE/MAX Mumbai Gujarat Maharashtra

Why You Lose Customers?

3%5%

9%

14%

69%

Reasons Customers Move

Move Away Or Pass Away 3%

Friends Refer them else 5%

Cometitiors Provide them better Offer 9%

Didn’t like your service 14%

Indifference to them 69%

RE/MAX Mumbai Gujarat Maharashtra

• Post Purchase Evaluation

• It is absolutely critical for you to deliver quality service consistently with customer expectations.

• They will not refer you otherwise.

RE/MAX Mumbai Gujarat Maharashtra

Factors that can help the perception of Associates

• Personality

• Length of the Transaction Time

• Buying Versus Selling

• Market Conditions

• Post Purchase Experience

Client Follow-up

RE/MAX Mumbai Gujarat Maharashtra

Reasons to Call:• Just to say ‘Hi’

• Anniversary of purchase

• Birthdays

• Market update

• Follow up on mailer

• Have buyers in that area

• Asking for testimonials

• Invitation for lunch/client appreciation party

• Follow up report

• Show your achievements

RE/MAX Mumbai Gujarat Maharashtra

• Contacting Past Clients

• Creating “A” List Clients

International Referrals

RE/MAX Mumbai Gujarat Maharashtra

• Business cards

• Online

• RE/MAX

• Email and/or Postcard Campaigns

• Media promotion

• Share a video with your clients

Networking during

conventions

RE/MAX Mumbai Gujarat Maharashtra

• Working Conventions - The key word is work.

• Goal

• Plan

• Business Cards

• Promotional material

• Digital Camera

• System for Meeting Sales Associates

• During the Convention

• After the Convention

Thank You