Is referral business dead?

  • 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 such as Zillow, Trulia, Redfin and realtor.com 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?