Dont Forget To Ask...

I'm not the most experienced Real Estate Investor there is, Yet! In fact, I just started learning about a year ago and Bigger Pockets has been such a great education. What I am experienced at and has been my profession for the last 15 years, is Insurance and Financial Services. As many of you know, whether its a Real Estate company, an Insurance Company or Lawn Mowing Business it takes hard work, time and patience to build a successful business. Much of that success, I have found is through one simple question that all sales people know. "Who do you know?"

In my insurance business, referrals have been the lifeblood for my company's growth. I'd say its imperative that I ask this question. The very last question I ask is; "Who do you know that might benefit from my services?" I see real estate investing no different. After all, we are here to help people solve a problem. Below are some pointers regarding referrals:

1. Treat Referrals as the Lifeblood of Your Business

(Bigger Pockets is a great tool for investors to network with each other. I've witnessed several users reference another investor in the forums, but when you're talking to a motivated seller, an agent, another investor, start asking "Who do you know?")

a. Get them now, No need to Wait.

b. Be Consistent, This is how you can avoid the slumps and plateaus.

c. Quantity. Generate those leads.

d. Quality. Quality time spent on qualified leads.                                                         

2. Treat Referrals as your Most Important Time Management Tool

a. Helps avoid wasting time

b. Helps you have enough qualified leads to stay productive.

3. Take an Organized Approach

a. Helps in not procrastinating or having improper value for your Referral Inventory

b. Helps to follow through on Promised calls and visits

c. Helps avoid failure of contact and other necessary footwork.

d. Helps not to lose or forget about valuable leads.

4. Remain Alert

a. ALWAYS secure referrals from satisfied customers.

b. Take full advantage of your business's marketing efforts.

c. Cultivate mutually beneficial relationships that can open doors for you.

d. Helps stay focused on looking for additional sellers

5. Stay in Constant Contact with active prospects.

a. A prospects motivation to sell can suddenly and dramatically increase.

b. There is always competition.

Everyone you help solve a problem for will more than likely know of someone else that is either in their same situation, or knows of a house up the block that needs your help. So Don't forget to Ask..."Who Do You Know