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The Ugly Side of Referral Business and What to Do to Protect Yourself

As most of you know, 100% of our business comes by referral.  This comes through the use of the Four Plus Two Marketing, Advertising and Promotion Strategy.

Frequently I am asked, “Why is it that more people choose to give business to others rather than refer business to me?”  One realtor actually told me that her friends and family did business with other realtors rather than her.  Please read on for the answer.

I recently heard of a referred piece of business worth in excess of $300,000.  The deal went something like this:

  1. The referred professional was late for the appointment by 10 minutes.
  2. When the professional arrived, he was on the cellular telephone for another 3 to 5 minutes while sitting in the car, ignoring the waiting client.
  3. An important mistake was made when transferring some important information to support staff for financial qualification.  Clients who would have qualified, did not qualify.
  4. No follow up happened early enough in the transaction to make the deal work.
  5. Nepotism.  One team member was chosen because of her relationship with the deal’s “team leader.”  The team member failed to perform.
  6. Improper use of language.  In telephone messages, the expression, “my bad” and other slang associated with the youth of today was used.
  7. To explain away poor performance, team professionals used excuses such as the car broke down, month end close, and I forgot to make the call.
  8. The wrong name of the client was repeatedly used in telephone messages by one of the team players.
  9. Client’s standards were said to be “too high” as the reason stated for why the deal fell through.

The nine items listed below, when followed, will allow you to avoid the nine issues above.  The numbers one through nine correspond below to those directly above.

  1. Refer business to people who have a history of being on time.
  2. Refer business to people who know that the most important person is the existing client and the second most important person is the new client.
  3. Do business with financial professionals who have a track record of personal success.
  4. Follow up at all costs.
  5. Only use a relative if they are the best at what they do!
  6. Use correct grammar or the native language of the person you are addressing. Trendy language that is less than appropriate should be avoided. If it is new technological jargon be sure to define it or avoid its use.
  7. Get rid of the excuses.  We all have “life” that gets in the way.
  8. Be sure you have the person’s correct name.  My name is Gerry or Gerald.  Call me Jared, George, or Jerod and you will lose the sale.
  9. A client’s standards are their standards.  Make sure the professional you are referring has high standards.  The referred professionals standards should match your business, personal, and professional standards.  Bill Gates, I am sure, has high standards.

Sooner or later we all experience what happened in the deal above.  That said, the best business comes from referrals.  The easiest business comes from referrals.  The highest priced business comes from referrals.  Keep giving referrals to get referrals while following the guidelines above and watch your success soar.

Gerry Rose runs INTEGRITY Networking Solutions in Oceanside, CA.  He works with realtors who want to attract the right prospects and their affinity partners who want to generate more referrals.  More than 10,000 businesses have been presented the INTEGRITY Networking Solutions system in San Diego, Riverside, and Orange Counties.

Gerry’s stimulating presentation Unlimited Prospects, Unlimited Referrals is ideally suited for small business owners, home-based businesses, and independent professionals who want clearer direction and want to attract more prospects, develop dynamic systems, and strengthen their companies’ accountability.  Gerry does one on one consulting, conducts a range of keynote speeches from thirty minutes to full-day education workshops.

His book series, Unlimited Prospects, Unlimited Referrals, are available on the website, www.integritysd.com.

Gerry has more than 20 years’ experience directing business owners how to grow their businesses.  He is a networking dynamo.  Those who know him will assure you that he does a great job of bringing people together—which is why he started Integrity.

Involved with networking organizations since 1984, Gerry is a Distinguished Toastmaster, a member of Toastmaster International, and has chaired numerous chambers of commerce and non-profit organizations.

Are you truly committed to attracting the right prospects and generate more referrals?  If so then contact INTEGRITY Networking Solutions for availability and information.  You can contact Gerry by mail at 1610 Quiet Hills Drive, Oceanside, CA 92056.  Direct dial (760) 439-4623; e-mail to gerry@integritysd.com.  For more information, go to www.integritysd.com

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