The Duncan Fremlin Blog

Helping A Vancouver Friend Sell His House

I know it sounds crazy.  How can a Toronto Realtor be of any value to a Vancouver home owner hoping to sell his house?  Well, let me tell you how.

It begins with the idea that selling a house is not something you do very often in your life.  However, John knew that I sell a lot of homes and he also knew I was keen to help.  I've referred much business to Vancouver and subsequently been on the receiving end of much business also.  I'm also quite active on the internet and have befriended other Realtors in that part of the world.  So, when John asked how to choose an agent, I introduced him to some various options and he took it from there.

I didn't have to help him with the interview process.  He had already defined his priorities and knew what he wanted in an agent.  I don't know if he understands how important that was to his making a good decision. 

I'll let you know how it works out but I'm pretty sure he's close to making a decision.   Undoubtedly it'll be a good decision because he took the time to do this properly.  The key is, "he took the time".  Many sellers go with the first option available to them and sometimes it works out, but often it does not.   However, buyers and sellers often get stuck with the "wrong" agent (for them at least) because they didn't take the time to investigate other options. 

John's research was thorough and yes, very time consuming.  I'm sure it was also emotionally draining.  A move such as this is a huge event for any family and it's hard to sail easily through the maze of tough decisions that have to be made.

Once he makes his decision and signs the Listing Agreement, he'll enter another maze with an entirely new set of decisions.

Stay tuned.

2009 - Year of the Referral

I established a category in this blog for real estate referral stories.  I later expanded this idea and created my Circle of Trust program.  I've been neglecting this category lately.  It's not that I haven't referred or been referred business.  It's just that I haven't taken the time to write about it.  Until now.

I do keep track of my referral statistics.  Usually,  I can predict that approximately 10% of all transactions in any given year will be as a result of my tapping into my data base to find an agent for a Toronto client who is relocating.  This is one of the reasons I attend so many conferences around the world.  It can be and often is quite serendipitous.  Imagine standing in line for a cup of coffee at an International conference and striking up a conversation with a very pleasant Realtor from Montreal.  One week later, my Cabbagetown client calls and tells me he's accepting a position at a Montreal hospital.  I then call my new Montreal friend who knows the family of my client...I put the two of them together and lo and behold, they continue to do business to this day. 

That's what referral business is all about. 

In 2009, a lofty 25% of my transactions came from referrals.  In this case, most were out-going, that is, initiated by me.  I made this happen because it's a state of mind.  It comes to mind whenever I hear that a friend or friend-of-a-friend, or relative or even a complete stranger is moving to some other jurisdiction.  I promote it.  It's part of my business plan.  IVe written often in this blog of my Florida real estate connections who have helped some of my clients buy very attractive properties at extremely good prices.

It's all a part of my "relationship based" business model.  It's all about networking and building a community of like minded friends, professionals and philanthropic associates.  This model just happens to include some pretty amazing Realtors in various parts of the world.

Moving to Belize?  I know this Realtor who.....  

RE/MAX Referral Network Strikes Again

Over the years, I've attended many RE/MAX conventions, seminars, information events and the like.  Each time, I take a stack of my business cards and hand them out to any and all.  It's an attempt to meet with fellow agents from around the world.  As a result of many of these encounters, I've sold I don't know how many homes.  Here's how it works.

The agent returns to their home state or province and one day, they have a client who calls and says they're being transferred to Toronto.   Since they'll need an agent here, I get the call asking if I'd help with the relocation.  For the referral, I happily send the agent a percentage of my commission.

The other day, I initiated a referral from here but it didn't involve a relocation.  A family here in Toronto has a condo in the Sunshine state and they need to sell it.  Normally, I simply go to my Canada Referral web site and click on United States Agents and voila, there's a fellow referral agent I can call.  In this case, the area in question was not serviced by this network.

So, I went to the RE/MAX International site and found an appropriate brokerage.  I called the Broker Owner, Dave Coupland and we discussed my client's property and other things.  As it turns out, since this enormous world is not that large after all, Dave had returned from visiting Toronto the previous day.  He's from here and was visiting family.  We ended up chatting for the longest time.  He's keen to know more about Toronto's market in 2007 and I'm keen to know about the 11th Canadian province, Florida.

He then called my client, brought in his daughter, Debbie Coupland-Porter to help out and got things moving quite nicely.

And they all lived happily ever after!

Another Referral story

Early in my real estate career I did virtually no referral business.  It wasn't because the opportunity wasn't there, it was because "I didn't think of it".  Now, I have the referral state of mind. 

Example:  Yesterday, there was a worker here at the house delivering and assembling a bed frame.  He was an engaging man so we were chatting about music and Stompin' Tom etc.  When he found out I was a Realtor, he began telling me his own real estate story.  Everyone has a real estate story and they have a gene that compels them to share it with the world.   This fellow owns a property up north and he wants to unload it.  Next thing you know, I call the local rep from CanadaReferral www.canadareferral.com and one or two emails later, arrangements are made for the two of them to speak later today. 

If I were to describe this business in five words or less, I would say "it's about bringing people together".  This may not always lead to immediate business, but it always leads to something wonderful.

Referral Story #4

I promote my referral service as part of my general marketing program.  I mention it in many of my newsletters.  I promote it in my neighbourhood drops.  I attend local and national conferences and make a point of meeting Realtors in regions that I'm most likely to refer to.  I keep in touch with them by mail and email and sometimes by telephone.  Even within the Greater Toronto Area, I have agents I can call to assist my clients.  If a client has a unique property and the location is simply too far from town, I'll have a look at  the property and learn what the client hopes to accomplish.  If I don't feel confident that I can do the job as well as I would like, then I'll not only find the best agent for the job but keep in touch with that agent to see how the sale is progressing.  I'll then collect a referral fee and my client will be pleased that their needs were well served. 

Referral Story #3

My cousin last May asked me to find him a Realtor in a mountain town in remote Tennessee for his father-in-law's property.  I initially searched the Re/Max network but there wasn't an office near by.  Then I googled the area and found there wasn't any real estate office within 40 miles of the property so I eventually called a local independent brokerage and explained my dilemma.  As it turns out, this fellow was one of 5 agents selling a 250 mile radius (low population no doubt) and he knew the property I was speaking of.  I sent him a referral form and eventually it will sell and he'll send me a check.

Referral Story #2

Referral Story #2:  This involved a referral of a referral.  A good client referred a good friend of his to me many years go.  The friend was a local professional, single and shall I say, indecisive.  I worked with her for 3 years and she still hadn't bought anything.  She had put in a few offers but none had been successful.  I couldn't take it any more so I called my client and told him I was going to refer this lady to an associate in my office.  She eventually bought a house and I received my referral fee.

Referral Story #1

Referral Story #1:  I was at a the National Re/Max Conference in Whistler B.C. many years ago, standing in line for lunch and the fellow in front of me was collecting business cards from those around him.  His plan was to start an Internet referral network when he returned to Ottawa.  I never thought anything of it until a month later, I received an email from him informing me that I was on this Referral Network.  A few days later, I receive a call from a Realtor in Montreal who was also on that list.  She referred me a doctor who was moving to Toronto and a few weeks later, they bought a house for a million dollars.  Later that year, I had a doctor  client moving to Montreal so I called the agent and he too bought an expensive home and I collected a referral fee for that.

Referral Overview

I've come to the conclusion that referring business to other professionals or clients is a state of mind.  I learned early on in my real estate career that only a few of my clients would even consider referring me to their friends and family no matter how often I asked them or reminded them.  It's not because they weren't pleased with my services.  It's simply that they they either don't think of it or they worry it will be an imposition on their friends personal space, or perhaps a bit of both.

Realtors are the same.  I've been sending and receiving referral business for many years now.  Judging from conversations I've had with other Realtors on this topic, I'm sure that I'm in the minority.  I do it because it's profitable and because I like to be involved in all aspects of my clients move.  If I know they're transferring to Calgary for example, I want to find them a good Realtor.  I know what to look for so I immediately begin the search.  Sometimes I know someone in the city of choice so the search is quick and simple.  Often, I'll have to do some digging and seek someone out.