1. Power Session 9: Agent-to-Agent Referrals
Lead Generation 36:12:3
Power Session 9:
Agent-to-Agent Referrals

2. Power Session 9 In this Power Session. . . Introduction
An Untapped Resource
Getting Started
Prospecting and Marketing
Focus Over Time
Final Note
Putting It All Together
Page 1

3. Introduction Ground Rules Arrive on time. Form groups quickly.
Power Session 9
Ground Rules
Arrive on time.
Form groups quickly.
Limit side conversations.
Turn off cell phones and pagers.
Be comfortable.
Respect time.
Respect each other.
Help each other.
Respect confidentiality.
Have fun!
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4. Introduction How You Will Learn Learning Methods Manual Classroom
Power Session 9
How You Will Learn
Learning Methods
Manual
Models/Systems
Exercises/Discussion
Stories
Classroom
PowerPoint slides
KWConnect videos
Classmates/Instructor
(continued)
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5. Accountability Feedback Loop
Introduction
Power Session 9
How You Will Learn
Accountability Methods
Lead Generation Action Plan
Accountability Partner/Program
1. Set Goals
2. Do Key Activities
3. Measure Results
4. Evaluate Process
5. Make Adjustments
Accountability Feedback Loop
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6. Introduction EXERCISE Where You Are Today Lead Generation Activities
Power Session 9
EXERCISE
Where You Are Today
Lead Generation Activities
My aha’s from these activities
The most difficult part of these activities
What I will do differently in the next 24 hours
Time: 10 minutes
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7. Introduction Why You Are Here
Power Session 9
Why You Are Here
Learn how to tap into one of the most overlooked sources of leads—other real estate agents
Discover ways to ensure top-of-mind status with other agents
Discuss tools you can use to screen and qualify other agents for referrals
Cover a variety of ways to prospect and market to other agents
(continued)
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8. Introduction
Power Session 9
Why You Are Here
You are here!
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9. Read, underline, and share …
Introduction
Power Session 9
Mary Charters’ Aha Moment
Read, underline, and share …
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10. Introduction What Will Make This a Great Training Experience Page 8
Power Session 9
What Will Make This a
Great Training Experience
Page 8

11. Source: “2006 NAR Profile of Home Buyers and Sellers”
An Untapped Resource
Power Session 9
Agent-to-agent referrals as a source of leads are often overlooked
Only 4% of buyers and 4% of sellers found their real estate agent by referral from another agent
How Sellers Found Their Agents
Source: “2006 NAR Profile of Home Buyers and Sellers”
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12. An Untapped Resource Doris Carlin on A2A Referrals:
Power Session 9
Doris Carlin on A2A Referrals:
Don’t leave money on the table
Always ask if a seller needs help with the purchase of next home
Ask if you can refer them if buying out of your area
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13. An Untapped Resource EXERCISE
Power Session 9
EXERCISE
Estimate your answers now and follow up with actual numbers once you are able to analyze your database.
How many real estate agents are in your database?
How many of them do you touch on a regular basis?
What percentage of your business comes from agent referrals?
Time: 5 minutes
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14. An Untapped Resource Giving and Receiving
Power Session 9
Giving and Receiving
Referral from another agent almost always a “hot” lead
Takes less time than cold prospecting
High pay, little effort
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15. Pros and Cons - Receiving
An Untapped Resource
Power Session 9
Pros and Cons - Receiving
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16. An Untapped Resource
Power Session 9
Responsibility of Receiving and Accepting Referrals
If you accept referrals, you must
Respond to the customer immediately
Love to work with buyers
Want to provide solutions along with awesome experience
Be committed to and capable of working with referred customer
Know city and resources such as doctors, auto service, restaurants, etc.
(continued)
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17. An Untapped Resource
Power Session 9
Responsibility of Receiving and Accepting Referrals
Know builders of new homes and subdivisions
Be patient and flexible
Stay current on your market
Educate buyers about local price
Communicate with referring agent regularly and always pay the referral fee
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18. An Untapped Resource
Power Session 9
Pros and Cons - Giving
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19. An Untapped Resource Responsibility of Giving Referrals
Power Session 9
Responsibility of Giving Referrals
If you give referrals, you must plan carefully
Thoroughly interview customer to understand needs
Thoroughly interview agents to find perfect match for customer
Communicate level of service expected
Follow up with customer
Follow up with agent
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20. An Untapped Resource A Win-Win Relationship
Power Session 9
A Win-Win Relationship
Having agents in your database means
Valuable, lifelong relationships
Colleagues with whom you can discuss ideas, challenges, etc.
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21. An Untapped Resource
Power Session 9
Reap the Rewards
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22. An Untapped Resource More Reasons to “Tap In”
Power Session 9
More Reasons to “Tap In”
Real estate agents are plentiful and readily identifiable (1.3 million—2006 NAR membership)
Agents “get it”—already understand benefits of referring
Provides additional reason for attending events
Opportunity to build relationships with agents around the country
Can you think of more?
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23. You Getting Started Mindset and Mindshare
Power Session 9
Mindset and Mindshare
Other agents are assets to your business, not competitors
Be memorable! Achieve top-of-mind status with other agents
You
Other agents
Agent
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24. Getting Started EXERCISE
Power Session 9
EXERCISE
What makes you different or unique from all other agents competing for agent-to-agent referrals?
Here’s an opportunity for you to differentiate yourself from other agents. Fill in the blanks about what makes you unique, and be prepared to share with the class.
Time: 5 minutes
Page 18

25. Getting Started Screen and Qualify
Power Session 9
Screen and Qualify
Identify what makes other agents “top of mind” with you
Make sure customer comes first with them
Prepare qualification questions to ask
Page 19

26. Getting Started Sample Qualification Questions
Power Session 9
Sample Qualification Questions
What do you love about what you do?
Which do you like better, listing homes or helping buyers?
How long have you been in this business?
What is your area of expertise?
What geographic area do you serve?
More examples on p. 19
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27. Getting Started EXERCISE
Power Session 9
EXERCISE
What important qualities do you look for in an agent to whom you would give a referral? The choice of the right agent for you and the customer is an important one.
Circle three questions on p. 19 you think are the most important to ask OR add any questions you think are important that aren’t on the list.
Time: 5 Minutes
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28. Getting Started Mary Charters on Giving Referrals:
Power Session 9
Mary Charters on Giving Referrals:
Check with Team Leader
Find a good fit for both agent and customer
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29. Getting Started Know when to refer
Power Session 9
Know when to refer
When the customer has a buy and a sell and one of the transactions is out of town
When the customer wants to buy or sell outside your geographic area and could be better handled by an agent from that area
When an agent refers to you and you are not the right fit for the customer
Pages 21-22

30. Getting Started Fee negotiation and referral agreements
Power Session 9
Fee negotiation and referral agreements
Negotiate the referral fee up front
Some factors that affect this rate
Market conditions
Price range
Number of referrals previously received from same agent
Potential work/time involved
Both parties complete referral form before meeting with customer
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31. Prospecting and Marketing
Power Session 9
Myth
I don’t need to actively prospect or market to real estate agents.
Truth
You must regularly add to and contact the agents in your database to reap the rewards of referrals.
Page 25

32. Prospecting and Marketing
Power Session 9
Cultivate your agent farm
Pick a narrow market and dominate it
Agents are just another type of farm
Prospect and market to them to cultivate relationships
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33. Prospecting and Marketing
Power Session 9
Myth
Attending events takes time away from my business.
Truth
Actually, it’s smart business because you have an opportunity to enhance relationships and increase referrals.
Page 26

34. Prospecting and Marketing
Power Session 9
Prospecting: Meet them at events
Attend events with a purpose
Volunteer for visible positions at events
Collect info on as many agents as possible
Cost of attendance could be recouped from referrals
Make a positive impression with all
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35. Prospecting and Marketing
Power Session 9
Mary Harker on attending events:
Lucrative part of her business
Great way to lead generate
Break from your group and meet as many people as you can
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36. Prospecting and Marketing
Power Session 9
Market after the event
Enter info you’ve collected into database
Stay in the power position by making contact first
Maintain systematic contact with them
Consider using 8 x 8 and 33 Touch
Personalize for the group
Pages 27-28

37. Prospecting and Marketing
Power Session 9
Myth
People who know you don’t have to be reminded you’re in the real estate business.
Truth
People who know you and trust you are the most important group with whom to maintain regular contact.
Page 28

38. Prospecting and Marketing
Power Session 9
Rick Geha: Leverage your out-of-area Mets
Regularly contact them
Educate them on what you do
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39. Prospecting and Marketing
Power Session 9
EXERCISE
Think of five of your out-of-area Mets you can contact about agent-to-agent referrals.
Call one right now and see if anyone in his or her neighborhood might need an agent.
HOMEWORK: After your session today, call the other four. Find an agent you might refer the lead(s) to. Report your findings during your weekly accountability session.
Time: 10 minutes
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40. Prospecting and Marketing
Power Session 9
Prospecting and Marketing: KW White Pages
Prospecting tool for finding and contacting other agents
Gather contact info and implement 12 Direct plan
Make sure you update your KW White Pages info to stay top of mind
For Discussion:
Courtney Yates story/KW White Pages information
Pages 30-31

41. Prospecting and Marketing
Power Session 9
Boyd Brown: Prospecting through Recruiting
When recruiting, you are building a relationship with other agents, whether they join KW or not
Anytime you come in contact with agents, keep in mind they are a source of referral business
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42. Prospecting and Marketing
Power Session 9
EXERCISE
You have talked about many examples of ways to prospect and market to other agents for referrals. Can you think of three more ways you can accomplish this?
Time: 5 minutes
Page 32

43. Focus Over Time
Power Session 9
Myth
It costs too much to stay in touch with a large database of agents.
Truth
It costs too much NOT to stay in touch.
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44. Focus Over Time Maintain the Relationship
Power Session 9
Maintain the Relationship
Stay in touch consistently over time
The up-front cost of staying in touch is well worth it
Not staying in touch means lost referral business
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45. Focus Over Time Mike Mendoza on consistent communication
Power Session 9
Mike Mendoza on consistent communication
Began building a database of other agents he met
Today that database is more than 7,000 agents strong
Creates special marketing content aimed at getting referrals
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46. Focus Over Time
Power Session 9
Maintaining your agent relationships through consistent lead generation will result in more transactions.
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47. … for 3 Hours Every Workday.
Final Note
Power Session 9
Stop leaving money on the table—make connecting with other agents part of your daily 3-hour lead generation habit!
… for 3 Hours Every Workday.
One Habit
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48. Putting It All Together
Power Session 9
Power Session Aha’s
Your Lead Generation Action Plan
Page 37-38

49. Putting It All Together
Power Session 9
The 3-Hour Habit
Time block 3 hours every workday before noon.
No skipping. If you must erase, then you must replace.
Allow no interruptions (unless they truly are emergencies).
Page 39-40

50. Thank You for Being Here!
Don’t forget your evaluations!