I saw a question today on a Facebook group that asked where most real estate deals come from. There were a few answers about ads or social networks, door knocking, and such.
Truth is, 80% of all real estate transactions come by repeat and referral business. Most sellers interview 1 agent only. The one that was referred. Further, 90% of buyers and 70% of sellers said they’d use their agent again and refer them to others.
Those stats come from the 2019 NAR Buyer and Seller Profile.
I learned this early on and took it to heart. I’ve worked by referral since I started in 2003. I decided I wanted to work in the deep end of the pool.
Do the other methods work? Sure but so does a slot machine. Opportunity cost is a real thing and if you’re cold calling you can’t be talking to your sphere of influence or hosting a client party.
Time is your most valuable asset. Don’t waste it.
Thanks for listening,
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