Getting referral business from real estate agents can prove to be a difficult task at first. Industry expert Dave Hershman highlights some of the reasons why you're not getting business from realtors.
By Dave Hershman
I have had several meetings with real estate agents and they all promised me business, but they never refer anyone. I am following up with them diligently by email and by phone. Do you know what could be the problem?
It is always tough for me to analyze a particular situation without knowing more about the meetings--what was said and the actors involved. For example, I don't know how you met these agents -- are they personal referrals or cold calls? However, since you asked me what "could" be the problem--I will set out a few possibilities.
One possibility is that the agent has no business to refer. I don't know if you are researching the agents ahead of time to make sure you don't waste your time with those who are not doing any business.
Another possibility is that they are telling you one thing--but they mean another thing. It is easier for them to say, "sure I will send you something" as opposed to "I would never send you a deal." People don't like to deliver bad news and if that statement satisfies you, then they are off the hook.
The last possibility which comes to mind is your follow up is not good "enough." Perhaps the timing is not right. Even though you say that you are following up diligently, there may be something wrong with the follow-up script, timing or system.
Regardless of the reason, I can give some advice regarding meetings with realtors--the right way to set up a meeting and what to say. I will save that for next week.
Dave Hershman
Do you have a reaction to this commentary or another question you would like answered? Email Dave at [email protected].
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
