Today I’m back to share another great tip in the Millionaire Agent Mindset series. This time, our conversation will focus on referrals from current clients, as these are our very best lead source.
First, ask yourself this: What is your system for servicing clients at the highest level in this industry? Do you run away after settlement or do you lean in?
On our team, we set up an expectation of excellence. Our clients know to expect the best from us. Simultaneously, we also set up an expectation that they will refer us to people they know. This is a staple of low-cost and repeat, or referral, business.
I once learned a script from an agent named Mike Hicks in the small, 70,000-person town of Idaho Falls. Mike does nearly 500 transaction sides per year, with most of his business coming from current client referrals. Upon finding this out, I wanted to know his secret for success. According to Mike, it starts with the script I mentioned earlier, which he calls the “Promise Script.”
I highly recommend implementing this script into your own business. Start by reciting it verbatim, and then, once you’ve internalized it, you can personalize it.
So imagine that you’ve just signed a listing with a client. At this point, it’s time to implement the Promise Script, which I’ve included for you here:
“So, before you go, there’s one more thing. Do you have just another minute? Okay. Let’s talk about our promise. You see, our group has this promise—this goal—to create an experience that you, honestly, really cannot imagine being any better. Our systems and everything we do are designed around delivering on this promise.
“Everyone in our group is focused on what it is you want and what it is that you need. We make every effort to be out in front of everything—to stop surprises, and keep it as good as it can be. Now, there will be challenges. We know that there will be. It’s real estate, and it’s people. But just know that our group is focused on creating that 10+ experience, if you will. Does that sound okay? Great. So there’s something that I want. Just to say it, we have another goal. And that is, some time from right now until the day that we close on your home, that you’re going to feel so great about what we’re doing for you that you’re going to call me, text me, or email me with the name of somebody who needs help in real estate.
“See, they might just have a general question, they might need to buy or sell a home, they might need to refinance, or just need some help in real estate. So while we’re working together, you’re hopefully going to be giving my name out, which I truly appreciate because word of mouth is our lifeblood. Yet I need you to take it to the next step. To make sure I have a chance to help, in addition giving out my name, I want you to call, email, or text us their information so there’s a 100% chance I can get in touch with them. Okay. That’ll be great. So you’re going to call right? That going to be perfect.
“Now, if we get to the day of closing, we’ve sat down at the closing table, and we’ve signed all the paperwork, and you haven’t got in touch with me with the name of somebody that we can help, I’m going to have to assume that our group didn’t deliver on the promise—that we could’ve done something better. So I’m going to have to ask you the hard question, and that is what we could have, or should have, done differently in order to have earned that referral. Will that be okay? Great. Well, listen: I’m going to count on it. And I’m going to count on you sending that referral to me, okay?”
At this point, go ahead and shake the clients hand or make a physical connection like placing a hand on their shoulder.
This script is the start of our team’s high-level service, and it sets the expectations for what we will deliver throughout the transaction. As a service provider, you’re going to be graded on your systems by your clientele. With our clients, our goal is to communicate early and often over the course of transactions. There should never be a week that goes by where our clients don’t hear from us, even after settlement.
We use a system of good news in making these communications. So, for example, after we begin working with sellers we send them a copy of documents they’ve signed and a short video thanking them for their trust and confidence. It is at this point where we will call them to confirm information like our photography date, as well as our first open house. During this phone call, we’ll also deliver the Reticular Activating System (or RAS) Script. This neurological system is responsible for behavioral alertness, which will come to be important in gaining referrals. We’ve already delivered the Promise Script, so here’s what the RAS Script looks like:
“Hi [Client Name], it’s Joshua Stern calling. Just wanted to make sure that you received an email with a copy of the signed paperwork. Fabulous. Did you get a chance to watch the short video? No? Okay well, briefly, it’s a RAS video. You do know what RAS is, right? Well, the RAS is the reticular activating system within our brain, and the easiest way for me to explain this to you is: Do you remember the last time you bought your car? All of a sudden you notice all the other folks driving that same car. You hadn’t noticed them prior to buying your car. Well, that’s the RAS. And now that we’re working together, I wanted to let you know that you’re going to run into between one and three people who are thinking of buying or selling a home. And I just wanted to remind you to call, email, or text me their information so there’s a 100% chance that we can get ahold of them. And I promise that I’ll make you look good.”
We take these servicing touches very seriously. We have an entire series of emails, calls, and videos using scripts we follow up with throughout the transaction, including after closing. Our post-closing plan is actually where 80% of our client referrals come from. Imagine if you had a systematic servicing plan for all of your clients. The byproduct of excellent service and asking for business is referrals.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.