Let's Talk Referrals

Click Here To Watch Video Blog

When someone graciously refers someone to you to handle their friend's or family's commercial real estate business, it's essential to approach the situation with professionalism and gratitude. However, how do we do that?

1. Express Gratitude: The first and most crucial step is to sincerely thank the person who made the referral. Their recommendation is a vote of confidence in your abilities, and it's essential to acknowledge their trust and kindness. A simple thank-you note or a heartfelt message goes a long way in showing your appreciation.


2. Keep Them Informed: Keeping the referrer in the loop is a good practice. They referred their friend to you because they believe in your capabilities, therefore, they are naturally interested in the outcome. Regularly update them on the business progress you're handling for the referred individual. This helps maintain a good relationship and reinforces their trust in your services.


3. Deliver Excellent Service: It's crucial to provide top-notch service to the person referred to you. Remember that not only is your trust at stake, but so is the trust of the person who made the referral. Go the extra mile to meet and exceed their expectations, ensuring a positive experience.


4. Size Doesn't Matter: Regardless of the size of the commercial real estate transaction, treat it with the same level of professionalism and dedication as any. Every client, regardless of the size of their business, should receive the best service you can provide. Small transactions can sometimes lead to more significant opportunities, and every satisfied client is a potential source of future referrals.


5. Network and Build Relationships: Remember, referrals are not just one-off transactions but part of a broader network and relationship-building process. The person who referred you once can refer you again in the future if they are satisfied with your services. Additionally, the person you are helping with the commercial real estate business might have further needs or connections in the industry.


So, when someone refers business to you, it's an excellent opportunity to grow your network and reputation. Treat each referral with care and professionalism, regardless of its size, and express your gratitude to those who trust in your abilities. Building strong relationships with both the referrer and the referred client can lead to a steady stream of business opportunities in the future.

All The Best To You, 

Brad Neihouser

765-427-5052 | bneihouser@shook.com

Cut Thorugh The Noise. Get Straightforward Advice. 

Comments

Post a Comment

Popular posts from this blog

The Family Meeting

  THE FAMILY MEETING   A family meeting? What is it and why would we need such a thing? Well, I am here to tell you that one day there will be a meeting with members of your family and you will not be there. The question is who do you want control of it. Will you or someone else be making the decisions?  Full disclosure, I did not come up with this idea. I read a blog with a similar theme written by a good friend of mine and was inspired. When I approached my wife with the idea of a “family meeting” she was reluctant at first, but as we talked through some of the topics I had in mind, she agreed that it was probably a good idea. When we tossed the subject out to our children and their spouses, they were intrigued and on board.  Let me explain the nature of this kind of “meeting” and why I believe it is so important.  A substantial amount of my commercial real estate business, mostly farmland, comes from families that have experienced the loss of a parent. ...
Read more

The Farmland Market & What it Means for YOU

Image
  The Farmland Market & What it Means for YOU When it comes to the Commercial Real Estate market, what kinds of properties come to mind? I bet I can guess: Retail, Office, and Industrial – The Big Three. However, there’s another sector of CRE that you might not think of immediately – Farmland. If there was ever a market that flew under the radar, it would be this one. While there might be little attention paid to current farmland/agricultural listing inventory, there’s even less paid to who’s buying it.    So, what is the current activity in the farmland market? Recently there has been much doom and gloom surrounding the agricultural sector, especially in the last five years. However, values have remained steady and seem to be trying to push upward again, despite all the negativity. What does all of this mean? How are values trending upward with so little visible activity?   What has been happening behind the scenes? Many agricultural operators have quie...
Read more

Shining the Light on Farmland Leases

Image
  Touching The 3 rd Rail: Farmland Leases   When you think of “top secret” information, what comes to mind? It might surprise you to learn that some of the most closely guarded information in the business world is not a password, account number, or safe combination, it’s Farmland Lease Rates. Bet you didn’t see that one coming. These lease rates are often set and then forgotten, never seeing the light of day again. Surprisingly, there is no clearing house of information or database of comps for landowners & potential tenants to research when trying to determine a lease rate. The agreed upon rates are, more or less, a shot in the dark and sealed with a handshake between friends. I could write a book after all of the issues I’ve helped landowners through when it’s time to renegotiate an existing lease or sell their property and the stories are always the same. Mr. & Mrs. Landowner have leased their farmland to an old friend for years and the lease rate has rem...
Read more