Speed to Response: How to Optimize Your Communication & Client Appreciation to Protect Your Referral Business w/Brandon Nelson
Technology and other disruptions are affecting the amount of referral business we’re getting these days. As leaders, how can we adapt to this going forward? What does it take to still be top of mind? On this episode, Brandon Nelson shares how his team has prioritized speed to response, and how they continue to foster referral business in today’s changing real estate landscape.
We’re striving to be in front of the people who are most likely to send us business. -Brandon Nelson
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Three Things We Learned From This Episode
Referral business is shrinking for agents
5 years ago, 61% of the average agent’s business came from repeat and referral business and sphere of influence clients. That number has dropped to below 44% and a lot of that has to do with more consumers. 98% of all buyers start their search online, and 72% of those people work with the first agent their encounter. That’s having a huge impact on repeat and referral business.
Leverage Hollywood marketing
For your client and sphere events, piggyback on Hollywood’s marketing machine by doing blockbuster nights. Movies are announced almost a year in advance so you know what’s going to be coming out and you can use this to build anticipation in your market.
5 minutes early is on time. On-time is late.
Speed to response should start from the very first contact. Even if you don’t have an answer for them right away, just let them know you got their message. If you leave a lead hanging, you’re basically giving it over to another agent.
With so many agents flocking to the internet for leads, any hesitation or procrastination in contact is going to cost us dearly. Speed to lead isn’t good enough anymore-- it’s all about speed to response. Ultimately, it’s all about being the person they most recently spoke to on a meaningful level, and being the one keeping them informed so that they feel confident you know what you’re doing.
Brandon has followed a path to a dream career as a Realtor. For 8 years he learned carpentry then became a builder of custom homes. Following that, he was a licensed home inspector in Whatcom County for 3 years and over 700 inspections. Without realizing it throughout that time, he’d "reverse engineered" the perfect experience base to become a Realtor. Today, Brandon owns a thriving, independent real estate firm with over $70 million in sales in the past 24 months, and over 180 five-star reviews from our clients.