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Why Becoming a “Global Realtor” Can Bump Your Bottom Line Up by 10% (or more) This Year

       

Hey guys, quick question:

Are you a global REALTOR or a local REALTOR?

What do I mean by that? I just had a phone call from a guy that I worked with years ago. His name is Dick and he's an amazing guy. He called me and said, Jim, I've got a referral for you. He's living down in San Diego now. But we haven't seen or talked to each other in 15-20 years, but he has a referral for me.

Now, keep in mind: Dick is 83 years old and still out there selling real estate — so congratulations to Dick.

But when he referred that client to me, it just made me remember this concept of being a global realtor versus a local realtor.

Sometimes I have agents come to me that are in coaching and they say: 

"I've got my database, but it includes some people from my hometown or from a town I moved away from years ago, maybe in Texas, Florida, LA, or New York. Should I keep these people that are not local in my database? Why would I spend money on marketing to them or calling them or sending them email newsletters or postcards?"

The reason is because of what just happened with Dick and myself.

See, Dick knew me. He was still connected to me on social media. He still was seeing some of my things that I'm posting, which kept me top of mind. So it triggered him to send me a referral when one came through his sphere of influence in his local market. And that's exactly what happened.

The world is a small place. We're only separated by two or three degrees of separation in the United States and six degrees of separation throughout the world. But in the United States for most of us, it's two to three degrees of separation. Meaning, you know someone who knows someone who knows just about everybody else in the country, which is kind of an amazing thing when you think about it.

So when you think about that with your own business, you need to start positioning yourself on social media as a global realtor — not just a local realtor. Because most of us have access to referral systems, whether it's through your CRS, your franchise system, the ABR organization, or some other organization that you're a member of.

You have access to be able to refer your clients to other agents across the country.

Now, with that, you receive a referral fee, which gives you some extra income.

I'm going to give you a number here that I want you to shoot for:

10% of your income should be referral-based income.

In other words, if you haven't hit 10%, that means you're underperforming. You're not talking enough about being a global realtor rather than just a local realtor.

Now here's another way you can insert value into this conversation because some of your clients will just think I can just Google somebody in those other towns. You can put it out as a message through email or video where you can say:

"Hey, any of you guys moving to another area? If you know of anybody that needs a realtor, not just here, but anywhere in the country, I would love to be somebody that can be your in-house recruiter for your next realtor in those other areas of the country. Here's what I can do for you:

Instead of you just calling blindly into a market, I can actually dive into their numbers and stats. I'll interview three or four or five different realtors in that market. And I'll find the best one based on my experience. And then I'll give them to you through an introduction. I'm going to tell you you're gonna get a better quality realtor. And you're going to feel much better about the entire transaction and your satisfaction will go way up."

So that's how you insert value. You're going to "vet" the other realtor on the other side. And I would even check in with them throughout the transaction to make sure everything's going well.

So just a couple ideas there on working the relocation angle and the global realtor versus the local realtor.

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