This question will tell you how connected an agent is, and how active they’ll “talk-up” your home to buyers, or find a home for you by talking to other agents. Hopefully, your agent talks to at least 40 people a day about real estate. If not, they may not be very active.
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Here’s the “$64,000 question!” Competent, well-known agents get a large part of their business from satisfied past clients and members of their sphere of influence.
If an agent gets less than 25% of new business through referrals, it may be because: 1) The quality of service they offer is not up to standard (hence, people don’t feel compelled to refer to them after a transaction); 2) They lack the marketing experience or skills required to market for referrals (which means they may not bring strong skills to your transaction); or 3) They don’t cultivate contacts in their business (which means they won’t have many people to speak with about your home).
Clearly, the best way past clients show their gratitude for outstanding service is by referring their family, friends, and associates.
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This question reveals how active the agent is, and how well connected they are professionally. At some point in the buying or selling process, the parties involved in the transaction will need the services of a reputable, competent lender, appraiser, title company, etc. If your agent is active, committed, and diligent with their practice, he or she will be able to give you a few names of each right on the spot....
Some agents will give you a blank stare at this question. If they do, you might want to consider taking your business elsewhere. Why? Because you need to know if your interests are aligned. Is your agent willing to stake his or her successful outcome with yours?
Why shouldn’t your agent also guarantee his/her performance?
Smart agents guarantee their services for two reasons: 1) They’re confident they can perform for you because of their experience, commitment, and work ethic; and 2) It’s smart marketing for an agent to guarantee his/her services. If you buy a television, it’s guaranteed. If you buy a car, it’s guaranteed. These days, nearly everyone must offer a guarantee to help stimulate a sale. Agents on the cutting edge of marketing guarantee their services.
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