Are Real Estate Referrals to Other Realtors Dying?

By
Real Estate Agent with The Kelly-Norman Team Keller Williams RE

 The Internet is "stealing" the referrals of many a Realtor/Agent. Gary Keller pondered this thought at our last KW "family reunion" when he stated many KW Realtors had NOT taken advantage of the power of referrals to other KW Realtors or other Realtor/agents. He noted our company wide lack of referral income to other KW Realtors across the country. He then proceeded to poo-poo designations as not really doing their job of bringing us all more referrals hence, whyhave one at all!

  He then proceeded to tell us of the penetration of the internet in all aspects of the real estate transaction. I for one belive in designations for the education and invididual networking and referrals they bring. However, I belive the lack of referrals is simpy one more item the Internet has taken from traditional real estate transactions. When our sellers eventually turn to us to come list their home they have already been searching the internet for months prior to inviting us into their home. They most likely already know the neighborhood of the new town they'll be relocating, the schools, shops, have been previewing listings on many of the MLS free web sites and finally struck up an on-line relationship with a Realtor in their new town!

  When we sit down with them they've also gleaned Zillow for all the eroneous information on their house, have googled us for our profiles and are loaded for bear as far as which sites they think we should concetrate our online marketing! So when we say, "Can I refer you to a great Realtor in the home you're considering?" They say, Nope! Thanks alot but we've already GOT an agent and have picked out some properties to see when you get our home sold!  This is one reason why I feel referrals are way down but other reasons are the huge percentage of REO,bank owned sales which don't really equate to anyone buying! That and an aging Baby-Boomer rich Realtor stock who are retiring and just don't have the fight for another one of "those" markets! Your thoughts?

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Rainer
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Airport, CA

Michael, thanks for sharing Kellar's & your thougths; I think they're dead-on.

But other referral models may pop up. In our loan modification business, we find plenty of people who should do or want to do a short sale instead of a mod. For them, we bring in a local agent.

 

Jan 11, 2009 12:41 AM #1
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Rainer
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Michael Kelly

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