Daily I have discussions with agents about their referral business. Here are the critical questions I ask them:
1. Explain to me how your contact management software works for you?
2. What system are you using to train your database of contacts to send you referrals?
3. How are you creating “card carrying members of your fan club?”
I usually get blank stares from agents when I ask these questions. Let’s break this down.
Contact Management Software: Money to invest = Top Producer. No money to invest = Microsoft Outlook.
Outlook is great contact management. The key feature of contact management is the reminder feature. It must be able to tell you when to contact a person again. Both Top Producer and Outlook do this. This is the power of both programs. They both allow you to keep a history of your contacts. It is important to log in every conversation and mail piece sent.
System: Let me give you a quick little system that will help you train your past clients/sphere to send you business: We will call this the “Quick Six”
1. Mail-out: This is a piece you send that positions you as an industry expert. Average price range of homes in their area…new school completion dates…days on market for homes in their price range.
2. Call: One week later make the “did you get call”. Call and ask if they got the piece. Find out more about them. How is work? Where do you work? How is your family doing? Where is your next vacation going to be? Log all this into your contact management program. You are going to use it later.
Get to know them. End the conversation with. By the way, I am always looking for new business. Who do you know that may be moving?
3. Note: As soon as you hang up fill out a hand written note thanking them the conversation and that you will be keeping them abreast of the changing market. End the note with: By the way, I am always looking for new business. Who do you know that may be moving?
4. Mail-out: About 45 to 60 days later (your contact management software will remind you) send them something more personal that you learned from the first phone call. Example: Bill says he is going on a golfing vacation send him some great golf packages you researched on the internet. He will love you just for the thought.
5. Repeat step #2
6. Repeat step #3
