BrokerageIndustry News

Marketing strategies for a shifting market

When referrals are not enough

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Are you actively prospecting for new business? Do you depend exclusively on your referral database to send business your way? To continue to make money in today's shifting market, you must have a three-pronged marketing plan that does more than just rely on someone else to generate your leads for you. Several years ago, I had a conversation with Gary Keller who personally coaches the top agents in his company. His observation about his top producers was quite enlightening. He said that the agents who use only traditional prospecting must work significantly harder to generate leads as compared to those who depend on referrals. On the other hand, those who work exclusively with referrals do not control their lead generation. These top producers can see up to an 80 percent decline in production when there is a dip in the market. The agents whose production remained consistently strong in all markets were those who actively prospected for leads AND actively stayed in touch with their refe...