Is referral business dead?

Technology is changing the way we grow, but relationships trump all
  • The majority of buyers are warm referrals not cold calls.
  • Relationships bring in business.
  • When you invest your time in the people who know and trust you, your return on investment is greater than when paying for leads.

Not a day goes by that I don’t read an article about how big data websites are the new wave of real estate business.Sites like Zillow, Trulia, Redfin and provide tons of data, but more importantly, they are a retail outlet for leads. More and more agents are using the high-tech environment as a tool for growing their business. What does that mean for referral business?Before I founded SkySlope, I was a top-producing agent and Realtor Magazine 30 under 30 alumnus. I averaged 30 to 35 referrals every month by establishing and nurturing my sphere of influence and executing like a champ. It wasn't long before I was selling over 300 homes a year -- 100 percent by referral!So while I'm hearing all this chatter about online lead generation, I don't hear a lot about the tried-and-true tactic that I -- and many others -- used to become a top producer. Old school vs. new school Perhaps I'm an anomaly -- caught somewhere between the old-school and new-school philo...