We’re all busy professionals, right? You meet a realtor, maybe even have a few conversations, and then before you know it months have passed with no communication.
I get it – it happens all the time. With so much already on your plate, it can feel impossible to keep re-engaging agents and realtors. There’s a lot of pain in the marketplace because loan officers got distracted over the last few years with super low interest rates and a boatload of refinances, and they’re having trouble today with reengaging relationships with real estate agents because they didn’t stay in touch.
In this article, I’m going to walk you through what you can do right now to reestablish, reconnect and reignite the partnerships that you have let drift away.
The best way to re-engage with a realtor (or anyone for that matter) is to own the problem. Take for example, if I’m working with a realtor named David Jonhson and we’ve done business off and on for four years together. So, here’s what it might sound like, when I own the problem:
“Hey David, it’s Todd Duncan. I just want to take a moment to apologize. I really messed up. I kind of goofed and I got so distracted that I did not pay attention to our relationship over the last four months, but it seems like I should have and I want to ask if you can forgive me.”
Listen with this you don’t need to do anything fancy – you’re just trying to rebuild the connection and lead with empathy and humanity.
Then I would continue using something like this:
“I’ve got a very unique business plan right now that I’m rolling out with a few key real estate agents and I want you to be one of them. What I know about this plan is it can generate between three and five referrals for you right now every month. I wanted to make sure I reached out to you to see if you wanted to be a part of this. Are you open to that?”
From there, I would introduce David to the Circle of Cashflow (If you don’t know what that is? Read this) and I would explain that every buyer that I work with, we’re going to activate a referral universe around somewhere between two and eight of the connections they have in the marketplace. Those connections could be financial advisors, CPAs, entrepreneurs and business owners, property and casualty insurance agents, life insurance agents, attorneys their place of employment and the list goes on and on and on.
Once you’ve engaged the realtor in conversation, let’s map out what the next steps are while you’re on the call with them. I highly recommend that you establish a weekly partnership planning meeting. This is where you’re going to stay in touch with each other once a week, for just 15 to 20 minutes. You can talk about the referrals that came in that week and how you both can support each other in getting possible business from these referrals.
Think about who knows, likes, and trusts you enough to refer business to you. I can’t underscore enough that the greatest value proposition you can offer in this economy is to offer to help grow someone’s business.
If a 1% increase in your conversion can equate to an extra $1,100 a month. Imagine what a 12% increase would do for you! Most people aren’t sure what they need to change in order to grow their business.
That’s why I’ve created a new free tool so you can create your own Wealth Building Business Plan.
With this Wealth Calculator, you can easily see exactly what you need to do in order to close the gap between your current numbers and your goal. I’ve also created two versions so you can select the calculator that’s best for you to create a business plan that’s built for your needs.
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