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.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

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...