Some years ago, there was a sole practitioner in Houston who sold a lot of real estate. His name was Ken Jacobson. He was a blond-haired guy with a big smile, a resonant voice and a gift for gab.
He made tons of money, drove a new paid-for Mercedes 560-SE, that, when he was home, was parked on the brick-paver circular driveway in front of his expensive and paid for home.
And most of the people he called from his Rolodex every morning -- his client base -- felt that they were his good friends, Interestingly, most had never met him. They had probably not knowingly seen him across the room at a restaurant or a party.
Ken didn't have a logo and he didn't run ads. His office was a desk and phone and two chairs, all stuck in less than 100 square feet. He had his college diploma on the wall. It was in a cheap dime store frame. If you asked him, he majored in choral music performance.
Oh, and I forgot to tell you that Ken didn't take listings either, that is he didn't take listings he didn't feel he could find a buyer for within the following couple of days.
Ken's idea was that taking listings for the sake of having listings was a waste of a broker's time and money. Much more pressure than he needed. Everything he did had to be pasted to the present with money making Super Glue. No bets on the come.
What Ken did was develop his referral base. Before he hung up talking with you, he'd have gotten the name of another person to call and who would then be added to his Rolodex, and that new person would now be receiving regular chit-chat calls from Ken.
"Ralph? Ken Jacobson. I just got off of the phone with our friend Rusty McKnight. He said you run the most reliable plumbing shop in town, and do I need a plumber. By the way, this might be some information you can use. Do you know David McDavid? You don't? Well I'm going to introduce you to him. Best place to buy trucks, and he told me the other day that he is horribly over-stocked on panel trucks....I call them plumber's trucks..."
You get Ken's strategy. It was impossible for him to get a rejection because he never called to sell a person anything, just to chat and in the process do something for them while they gave him at least one new name he could use.
Well, while I'm no where nearly as adapt at it as Ken was, nevertheless, I've used a modified version of his marketing plan for many years, now. Most of my listings, sales and consulting haven't cost me a dime to develop and get. They've come from my Ken Jacobson-like Rolodex that is full of dog-eared cards.
And that, quite frankly, is why you should call me when you have what may be a real estate challenge. My Rolodex friends and their friends and their friends will most likely supply the answer for me to deliver to you with my best impression of a Ken Jacobson smile.
Bill, Rolodexes are the best...I still have the one I started real estate with 12 years ago...and I still put a card in it for any new contacts before adding them to my database.
You're the greatest, Bill....and I can tell by all of your stories that you are one of the true 'networkers'...you do it because your heart is in it and you care about people.
Jo
Bill...good point. If you are excellent at networking, working the system and pushing for relationships/referrals...the sky's the limit.
It's not about asking for the referral, it's about building trust so that the client will offer the referral willing, knowing that you are going to give the person they care about, such a high level of service they will thank them for introducing you.
I highlight a similar strategy in my post: Can't ask? Without a doubt the easiest way to ask for referrals!
Bill, your rolodex sounds suspiciously like a "good ol' boy" network. But I agree with Kan Jacobson. I don't want a listing I can't sell.
Bill Roberts
When you really get down to it.... to do this job, all you really need is a desk and a phone. LOL
Missy, Dan, Jo, Linda, Paula, Al, Dave, Crrol and Bill-
Thanks for your affirmations and comments. Dave especially hit the nail on the head. This is a way to cold call without bluntly asking for someone's business.
Another terriffic story Bill...
Why don't you post these posts aimed towards clients in Localism?? Just put in a few local referances.
Joan, Tom, Bill and Carole, and Gregory, Dave and Al, and not to forget Paula, Linda, Jo, Missy and Dan--
I'm sorry it has taken me so long to thank you for reading about Ken Jacobson, his teeny office, his telephone and Rolodex. My mind has been on other things.
Thanks for your additions. Bill's comment calling it a maybe "good old boy network" is one I hadn't considered before he brought it up. But you know, that's what it is a good old boy network that one good old boy invented and controls. Great explanation I'll ponder for a few days, that's for sure.
Bill