Why Don’t More Realtors Believe You’re The Best?

One of my marketing mentors, Brian Clark of the legendary blog, Copyblogger, recently wrote: “One of the foundational tenets of direct marketing…is the “reason why.”

Which translates to:

Why are you the best?

Why should I believe you?

Why should I start sending all of my buyer referrals to you right now?

These three questions become one: “Why should I buy from you at all when I understand your competition better than you do, and I see no difference?”

If you can’t answer the questions above (or don’t know how), you are dead in the water.

You say you’re different and better, but they think (which means in their mind they know because perception is reality) you’re not. In fact, you might not get the chance to be considered at all.

 

The First Problem

First, realtors have to find you, or discover you. Sure, I teach people how to “warm” call top-producing realtors as being the fastest way to generate new relationships and business (and it is), and this yields a small number of powerful relationships.

But if you want to be a player – one of the players in your city that everyone knows does a great job – you have to attack on multiple fronts.  A “warm” call out of the blue isn’t enough for long-term success.

 

How You Can Get Found By Top Agents

Who do you know that knows the top agents in your area?  Tap them and get introduced.  At the very least, just ask your partners if they’re working with any top-producing realtors and if yes, ask them to make an introduction.

If you don’t currently know anyone that knows the top agents, build your connector network.  What title companies, attorneys, appraisers, home inspectors, home stagers, etc… do business with these top agents?  Call people.  Ask them if they know “so and so” agent.  Get to know their network and then get an introduction.

You have to appear in physical places where they are present over time.  This includes lunch and learns, training seminars, lectures, awards ceremonies and banquets, sponsorship and trade show booths, community events, golf outings, etc…

Being “present” and visible needs to become a way of life for you.

Cultivating a new referral source relationship is often a matter of being at the right place at the right time.  The only way you can ensure you’re in the right place at the right time is to be there all the time.  So educate yourself on all the possible public (and private) events that your prospects may be present, and plan to be there.

The first step is get found.  Then you have to demonstrate a difference. Not claim, demonstrate.

 

How You Can Demonstrate A Real Difference & Earn A Referral

“But how can I demonstrate a difference before I actually do a deal?” This is a common question I get from a lot of MLOs.  I have one tactical answer and then an answer that requires some real thinking and “inner work” on your end.

Part (a) of the tactical answer is to get serious about delivering a phenomenal experience for both the borrower and your partners (buyer’s agent, listing agent, title company, etc…).  Once you’ve done that and your partners and buyer are literally in love with you, part (b) is: you must capture their testimonials within 24 – 48 hours of the closing.

Let’s say you close on average 4 deals/month.  Inside those deals are: borrower, buyer’s agent, listing agent, title rep and probably two or three other partners that could all speak to their positive transaction experience with you.

So let’s say that you get 3 testimonials from people inside each transaction. Muliply those times 4 deals/month and that equals 12 testimonials every month.  That’s almost 150 testimonials a year!

Now imagine walking into a realtor meeting with a print out of 150 testimonials (or direct them to a webpage).  Is that powerful?  You bet it is.  It’s huge.  Why?  Because all realtors have an unspoken concern about referring you their first deal, which is: “Will you make me look good?”

If you can’t overcome that concern in your first meeting, no matter how great you thought the meeting went, you’ll never get a chance to perform.

I’ve learned in marketing circles that you need at least 5 testimonials for people to start to believe you, but if you have over 50 it is simply impossible for people not to believe that you deliver on what you say.

 

The Impact That Makes The Biggest Difference

The tactical testimonial approach can help you get a foot in the door and earn you a chance.  There’s no doubt that is valuable.

But what is the most impactful way to make a difference and earn a referral?

Conviction.

Conviction in your knowledge; experience; expertise; service.  And most of all conviction in your self.

There isn’t any special formula or script for conviction.  It comes from stepping out of your comfort zone and speaking from your gut; from your heart.  It’s about sharing what drives you and what inspires you and why you truly, truly feel like you can serve them – your prospective referral partner – better than anyone else, without being worried about what they think about you or how they might judge you.

Conviction takes courage.

Do you have the courage to speak from your toes and risk everything in a single conversation just to win the chance at a referral?

If you do, then you know how it feels.  You have authentic confidence.  You get results.

And if don’t have the courage, well, quite frankly, you need coaching. :)   And that’s no joke.

If you’d like to develop the courage to speak with conviction every time you meet a potential referral partner – or every time you open your mouth period – I would be honored to offer you a complimentary deep coaching session (these usually last 2 hours).  Email me if you’d like to learn more.

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