Every year, NAR studies home buyers and sellers and compiles the data into a report called the NAR Profile of Home Buyers and Sellers. It examines metrics like how buyers and sellers behave, how they find agents, and what technology they use.

I pulled out some key insights today that are especially relevant to lead generation.

First, let’s talk about how sellers find their real estate agent. Any guesses? Here’s the data: 77% of sellers find their agents through a referral or repeat business. That number is increasing, not decreasing. Last year, it was 69%, and now it’s up to 77%.

Despite predictions that online leads and new technologies would reduce this percentage, that hasn’t been the case. Referrals and repeat business remain the dominant ways sellers find agents.

Now, how many agents do sellers typically interview before hiring? You might think there’s a lot of competition, but the reality is this: 81% of sellers interview only one agent. While we...

Hey guys, did you know that only 5% of REALTORS reach out on the one-year home anniversary after selling someone a house?

Isn’t that crazy? Just 5%! And even fewer do it for the second, third, fourth, or fifth year.

But if you’re one of the 95% who haven’t done this, here’s your opportunity. Go back — not just this year, but 2, 3, 4, or even 5 years — and load up the contacts you’ve forgotten about. Give them a quick call today and say, “Hey, I just wanted to wish you a happy belated one-year (or two, three, five-year) anniversary on your home purchase.”

And by the way, take a couple of minutes to run an updated equity analysis for them. Say, “Here’s how much money you’ve made on your house in the past few years. I’m sending you the report so you can check it out.”

If you start doing this every year with all your past clients, your business will boom. This simple gesture can unlock so much potential....

Hey guys, want to increase your referrals by 24%?

It's simple, and it comes from the American Marketing Association: When you ask for a referral and attach a reward to it, your referrals increase by 24%.

So, what rewards work best?

Cash, consumables like wine or coffee, right?

But here's the issue with consumables most people overlook:

They're forgotten once consumed.

That’s why I prefer giving experiences…

An experience sticks with you. It's memorable.

For instance, for a couple who refers a great client, I might reward them with a night out at a local restaurant. Personalize it with a note: "Enjoy this meal on me. Thanks for the referral!"

For a golfer, instead of a round of golf, a golf lesson; for a tennis player, a tennis lesson.

Or if they're into concerts, a music ticket; sports, a sporting event ticket.

These experiences are unforgettable. Find what resonates with them personally, and your referral count will skyrocket.

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Why do Brokerage Owners, Office...

Hey guys, let's talk about asking for generosity from your clients, specifically in the form of referrals.

I'm going to share two or three strategies that should feel natural to you because referrals are the number one way to generate business.

Remember, when people are going through a transaction, there's a four times greater likelihood they'll refer you because it's a natural part of the conversation.

So here's the deal: you've got to train them, you've got to coach them.

Try this scripting: "Now that you're buying or selling, I'm sure some of your friends are going to be jealous. If you run into somebody who wants to follow your lead, I'd love the opportunity to work with them." Simple, right? It doesn't sound salesy; it sounds natural.

Another approach: "Now that you're selling, I'm sure a few of your friends and family will be jealous. If they want to follow your lead, I'd appreciate your referral. I like working with people like you." It's about leveraging their network in a...

As we gear up for the bustling spring and summer real estate market, it's crucial to leverage our networks effectively.

How do we elegantly request referrals and direct business?

Enter the real estate resume strategy.

Just like crafting a resume for traditional employment, create a polished document highlighting your real estate expertise: experience, market performance, education, skills, testimonials, and office history.

Distribute this resume physically and via email to your entire database. Accompany it with a cover letter emphasizing your readiness for the busy season and encouraging recipients to share your resume with potential buyers or sellers. Keep it concise, yet professional.

This approach conveys authenticity and seriousness, distinguishing you from agents solely focused on humor or gimmicks.

By showcasing your dedication to your profession, you establish credibility and foster genuine connections. It's not just about being funny; it's about meaningful engagement. This...

Heading into the new year, here's a game-changing strategy for you:

Open up your CRM, scan your sphere of influence, and pinpoint all the business owners. Start by reaching out to them. Call and ask, "Hey, Jim, how's the new year looking for you? How did last year finish off?"

Share your plan, "I want to start endorsing a local business every week on my social media, and I'd love to feature yours. I just want to promote local businesses I admire. No strings attached. Are you cool with that?"

They'll likely say yes, appreciating the gesture.

Be the Go-Giver. Lead with their needs. Within a week, make a post about their business on social media. Include photos, share your personal experience, and publicly endorse them. Tag them in the post. They might even share it with their audience. It's a win-win, a feel-good moment for both parties.

Even if they don't reciprocate immediately, the spirit of giving will work its magic for your business.

Now, measure your efforts. If your goal is to...

Received a referral lately? What's your reward program for the person who sent it? Not about closing deals, but acknowledging referrals. Let me walk you through a five-step plan to revamp your referral program for the new year. You need a systematic approach to increase referrals and business.

Step one: Upon receiving a referral, thank them with a small, personalized gift—$25 to $50. A handwritten note makes it special. Express gratitude and mention you'd love more referrals.

Step two: After the first appointment with the client, reach out to the referrer via call, email, or text. Share your positive experience and appreciation.

Step three: Follow up when the client takes significant steps—listing the house, making an offer. Keep the referrer in the loop, expressing gratitude.

Step four: After closing, send a larger personalized gift, $50 to $100. Show your appreciation for the valuable referrals.

Step five: Do a social media post publicly thanking the referrer....

Hey everyone, what are the top reasons buyers want to hire REALTORS? What do buyers value most? Well, here are the top three reasons according to an NAR study.

The primary one, unsurprisingly, is assistance in finding the right home. It's consistently at the top.

What might catch you off guard are the next two reasons, both tied to negotiations. Second is aiding buyers in negotiating sale terms, and third is assisting with price negotiations.

Two-thirds of the top reasons revolve around negotiation.

When engaging with buyers initially, agents often overlook discussing negotiation. How can I prompt buyers to choose me, armed with this data? Well, one effective strategy is to showcase successes on social media. For instance, if I help buyers secure $10,000 in closing costs or credits from the seller, why not share that after closing? Highlight the journey—viewing 10 homes, narrowing down to two,...

How many referrals did you get last week?

If you received none or just one, you might be wondering, "How can I get more?"

Well, here's the secret: To get more referrals, you need to start by sending more referrals. It all begins with the concept of giving. When you give generously, the power of reciprocity comes into play, and you'll start receiving more referrals.

As REALTORS, we often act as real estate concierges, with a network of contacts at our fingertips. When clients ask for recommendations, it's common to say, "You should use my friend John for that. Let me send you his number." However, this might not be the most effective approach.

Instead, consider this value-added strategy to increase your referral potential. Say, "I have an excellent gardener who does exceptional work and offers my clients special deals. Would you mind if I give him a call and have him contact you, so he knows the referral comes from me?"...

Hey everyone, I've got a question for you:

What are your standout moments when working with buyers?

It's vital to consider the service aspect of our job: Service is what we do for our clients, while hospitality is about how we make them feel.

We are essentially in the hospitality business, aiming to create emotional, “WOW” experiences for our clients that leave them saying, "Wow, I can't believe what you just did for me."

These are the moments that lead to referrals and repeat business.

Let me share three examples of “wow” moments that can enhance your buyer representation business.

First, implement a pre-meeting questionnaire: Just like when you visit a doctor, send your clients a short questionnaire ahead of time. Let them know it will help you serve them better. If they don't complete it, suggest arriving 15 minutes early to the meeting to fill it out. This simple step can improve your...