I was reviewing some information the other day about business referrals. Even though the information was about growing my business, it was interesting to me that I had just minutes prior to looking over the information, asked some about a new movie that I was wanting to see.
I think many of us would be surprised to know how often we “recommend” or “refer” something we like. But when it comes to business growth people are not jumping out of the woods to tell us that their friend Joe sent them to see you about those great widget services you make a your business.
What simple things can business people do to get more referrals? Here are a couple things to do that will get you well on your way to more referrals. First, you must decide to purposely ask for referrals routinely. It’s not sometimes, this person or that person, it is everyone when the opportunity appropriately presents itself.
Second, know specifically what you are going to say when you ask someone for a referral. Take 10 minutes and write a couple of sentences that you feel comfortable with when talking about your business. Now take the sentences and internalize them so you can say them naturally.
Lastly, make a commitment to get 2 to 3 new business leads for your services weekly. Get used to hearing the word “no,” but it is a great word to hear because it just means that you are that much closer to hearing “yes.”
By the way, which one of your neighbors is considering a move to a different northern Illinois home? I would be delighted to share with them the details of using the auction method to sell their property. Please keep me in mind when real estate questions come up in conversation, I am happy to be of service to you, your friends and business associates. This is a simple example of what you can say to people when you are seeking a referral. Good luck with getting more referrals for your business.
Scott Feirn is the Illinois State Broker for RealEstateAuctions.com and a Business Development Executive/Team Leader for the company in Kane and McHenry Counties. For more information about agent opportunities in Illinois and about Kane County real estate auctions, McHenry County real estate auctions and other Illinois real estate auctions give Scott a call at 815-963-9198 or email SFeirn@RealEstateAuctions.com.
In what is rapidly becoming the “Go To” form of real estate disposition, this week’s ode to real estate auctions is a simple overview of why you should seriously consider auctioning your property.
- You know the sale date, unlike listing a property and hoping to get offers
- Especially true if you are the personal representative/executor/executrix under court order to settle an estate or satisfy a bankruptcy trustee who won’t wait weeks or months for a sale.
- Spirited bidding among several bidders may bring a higher price than expected.
- Choices of 3 basic formats:
- Absolute Auction – Property will be sold regardless of price- most risk/reward as the bidders know that the high bid will be awarded the property.
- Minimum Bid Auction– The price point the bidding will start at. Once exceeded, a guaranteed sale will take place.
- Reserve Bid Auction– The minimum price is not published, least desirable auction format as even the high bidder cannot be certain they will be awarded the property as the seller reserves the right to reject or accept any bid not meeting the reserve price.
There are Ballroom Auctions and Stand Alone auctions, depending on the needs of the seller. I’ve been in Ballrooms with hundreds of potential bidders, not knowing which properties they are there to bid on, with the high rollers sitting in the front row, laptops and cell phones close at hand to have instant access to their bankers, investors or clients. Ahh, the excitement mounts as the bid caller calls each property, the crowd senses the tension and thrill of the moment, the bidding starts and in what seems like an instant, the caller cries “Sold” and rapidly moves on to the next property. If you have never been to an auction, you are in for a treat. Everyone loves a bargain, right? A better place to find one may not exist.
Searching out creative strategies and helping others to achieve financial independence through real estate investing became a natural way of life and I was for a time my own best client. I have lots of other cool investing strategies so if you like what you read, let us know and I would be happy to share more of them with you.
Randy Sotka is the Southwest Regional Director for RealEstateAuctions.com covering Arizona, New Mexico and his home state of Nevada. For more information about auctioneer and agent opportunities in his region, as well as information about Arizona real estate auctions, New Mexico real estate auctions and Nevada real estate auctions, contact Randy at 702-556-6354 or RSotka@RealEstateAuctions.com.
I had the pleasure today of being on a panel of Amazing folks dedicated to the Real Estate Industry! Tom Rose from HUD, Ray Massey from Equator, Moren Adenubi, Broker/Owner of Crown Realty and Moderator, David Geiger, Broker/Owner of Calfiornia Real Estate Network—-we talked about: REO-Rounding out Your Business Portfolio at the NAREB Conference in Las Vegas!