LA realtor, Edward Hutchinson, shares how he takes advantage of referral networks. You can watch in video form here:
Ed has an advantage over many realtors: He’s from London, one of the most competitive marketings in the world and works as a realtor in the luxury market of Los Angeles. Many of the high-net-worth clients he works with tend to have properties in other places around the world so Ed sees this as a major opportunity to help refer his clients to other realtors in London, LA and beyond…and make a healthy profit.
Just recently, Ed and his real estate partner, David Johnstone, received a 25% referral profit from a property they referred in Florida (even though neither Ed or David are licensed realtors in Florida)!
But whether you are in a luxury market or not, Ed says all realtors should see referrals (and networking) as a major (major) opportunity to grow their business.
To help them get exposure, Ed and David’s brokerage, Pacific Union, created a book that shares all their global listings along with their realtor’s contact information. Having a well-designed book with Ed’s name and his information is one of the ways he is able to get in front of other realtors from around the world.
“For any real estate agent out there, I really advise reaching out, building a network (if your broker doesn’t already have one) to very good agents in different areas across the country, across the world.”
Ed ends this tip by saying that realtors should also play on their personality as well to stand out from other realtors. For example, Ed is from London (so he has the accent going for him), wears a suit and red socks every-single-day. This external demeanor matched with his internal charm helps him stand out from the pool of realtors also trying to get referrals.
What personal edge do you have other realtors? Share it with us on the Facebook Group, Future of Real Estate where you can find other leading real estate agents also looking for realtors on a global scale.