Protect your Referral Team
All right, main benefits of a referral team, I’m going to use a triangle approach, and I want you to think of the difference between if you were to buy a new car, what that experience would look like if you went into a school or a park place, Lexus versus if you were to just go online and buy it on an AutoTrader.
OK, one of them is a very clear product. When I’m searching for a certain type of car, I can go on AutoTrader and I may be able to buy it for thirty thousand dollars. And it’s a product that’s delivered to my door if everything works out perfectly.
I might be happy with it. It is just a product when it comes time for a service and all these other things. Now I have to go out and I have to continue to do work and find all these things versus a social service when you enter or a park place service when you enter that building from the receptionist to the mechanic to the sales agent to the financing team, every individual is reinforcing the service of quality and value.
And that service continues through multiple touch points from birthdays to anniversaries to when you service your call, you just drop it off. You get a new one now set up in thirty thousand, you may pay thirty three or thirty four. But what you’re paying for is that ongoing service that many people find more valuable than the product. So the main benefit to that continued service is continued touch points.
You’re always top of mind. You’re always engaged in providing that client value. We are not just selling a home, right? We are helping our clients understand real estate, find the home that they want to raise a family in or that they want to start with and then continue to nurture that relationship, providing ongoing service, whether it be tax appraisal issues or be looking for their second or third house medicine, anything they can do.
OK, another main benefit, faster closing when you have a referral team, title insurance lender inspectors who are all on the same page, who operate with integrity, who do things ahead of time, who communicate effectively, you can reduce the thirty five day average closing to twenty five, just saving ten days on a closing. You do that two or three times a year.
That will free up your time to either go to Malhi like me in college or close four or five more deals. So that’s a phenomenal way to increase your business. Lower fall out fall. That’s a big deal. You really want to be able to communicate to your client that I’m going to help you find the home that you love and then we’re going to close on it. And that that promise, actually, it sounds simple, but it’s it’s not as simple as it looks, so it’s so important that the title company, the insurance agent and the lender have your back support you through the process.
So there’s not fall out there. You don’t want to follow up because you follow on the first house. Every single one after that declines, it becomes harder and harder to close.