"Consult The Coach" Archives
Stuart Kaufman, MS, MBA
“The Real Estate Coach”

Winter 2004 - Volume 4, Issue 4

Q. Dear Coach:

I have been in real estate for almost three years and have a Sphere of Influence of nearly 200 names in my database. For some reason, I am not getting many referrals from my Sphere. I send them a monthly mailing, but that doesn't seem to be enough. I don't like the idea of calling people since it makes me feel like a used car salesman. What do you suggest?

A. Dear Desperately Seeking Referrals:

This is a great question and one I frequently encounter with my clients.

There are two basic approaches to marketing to your sphere of influence. They are 1) Reactive and 2) Proactive. It is important to have both as part of your marketing program mix.

The Reactive approach involves waiting for people to call or visit you. When we send out a mailing, that is essentially what we are doing. We do the mailing and hope that people will call us. The key word is “hope”. Does that mean you should not do any mailings? Absolutely not!  Monthly mailings are an important part of your marketing program mix since they are an additional reminder to your sphere that you are out there! The mistake many realtors make is that they rely primarily (or solely) on mailings to market themselves and exclude most proactive approaches, which we will describe next.

The Proactive approach involves initiating a personal contact and connecting with people. This can be either a phone call or a meeting (for lunch or coffee) with people in your sphere. Personal contacts allow us the opportunity to make connections and remind people who we are, and how we can help them. The more personal contacts we make, the more likely we are to get more business. My clients find that being proactive is the most quick and effective way to establish a consistent flow of referrals from their Sphere. As an added bonus, when you work with your sphere, you are calling and meeting with people who know you, trust you and like you!  

You mentioned that calling people makes you feel like a used car salesman. What a drag! That must feel really uncomfortable and it obviously gets in your way of calling people in your sphere. The key to feeling good about making calls is knowing that you are connecting with people and providing value to them , not just asking for their business. Here are some ways you can provide value to your sphere when calling them:

• Provide a brief update on the real estate market in their neighborhood
• Remind them of home maintenance needs (cleaning gutters, changing furnace filters)
• Let them know you have a list of preferred service people (gutter cleaners, electricians, plumbers) that you are happy to share with them whenever they need work done around their house.

The most important aspect of calling your Sphere is to make a personal connection. Talk to them about their families, occupation, recreation and dreams (FORD), while providing them information of value. The referrals will come!

So, continue your monthly mailings and begin calling your Sphere. You will soon begin to generate a consistent flow of referrals, and you will enjoy yourself in the process!  

Q. Dear Coach:

I am taking a trip to Italy next month with my wife. During past trips, I have contacted my office several times a day to check on business and ongoing transactions. I also like to check my e-mails daily, which means that I am always on the look out for a cyber-café. My wife gets very annoyed that I do these work-related activities while on vacation, but I want to make sure my transactions don't fall apart. How can I keep my wife happy while not losing my commissions?

Signed,

A. Dear Unhappy Traveler:

The short answer to your question is “you can't”. Turning your business over to a trusted colleague, and giving him or her part of the commission, is part of the price of going on vacation. Attempting to enjoy a vacation, being present for your wife, and managing your transactions (including e-mail), is a recipe for disappointment.

The issues here are balance and trust. Managing your own transactions while enjoying your vacation in Italy makes it almost impossible to do either well. Some agents manage their transactions on their vacations because they don't trust other agents to take care of their clients. Decide to let go of these two issues and enjoy your vacation and your wife.   

So, Step 1: Find a colleague you can trust to manage your transactions while you are gone. Step 2. Agree on a formula to share your commissions with this trusted colleague. Step 3: Communicate to your clients that your trusted colleague will take care of all of their needs while you are gone. Step 4. Go on vacation and focus on your wife and the beautiful places you are visiting – let go of real estate for two weeks. Life will go on!

About the Author:
Stuart Kaufman, MS, MBA, is a Real Estate Coach who specializes in helping Real Estate agents be more profitable while living a great life. He resides in Washington State and is a regular contributor to numerous Real Estate publications nationwide. Got a question for the coach? Contact Stuart at coach@stuartkaufman.com or 206-725-1584.

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