Ep. 426: How to Build a Referral-Only Business

You CAN Build a Referral-Only Real Estate Brokerage

Key idea: It’s simple but true: people just want someone to care. Show up consistently for others, and help when you can. Your kindness will be remembered and rewarded with referrals.

If you are familiar with Stay Paid, then you know that we firmly believe in the power of relationships to build a business.

We often say that relationships are the currency of business and that real estate is a contact sport—the more people you know, the more opportunities you open up to garner new leads and referrals.

And while we’ve never come across an agent who says otherwise, there are a large number of agents who don’t make building and nurturing relationships a significant part of their marketing plan. They prefer to spend their time and money on other lead-generating tactics.

While that’s okay, we believe investing your energy and resources in relationships delivers a better ROI in many ways, not the least of which is that once you’ve established a solid relationship with a client, that single client will keep referring warm and trusting leads far into the future.

Just ask this week’s guest, Garrett Maroon.

From the beginning, Garrett committed to building a 100% referral-based real estate business. With only 40 people in his database and a goal of closing 50 transactions in his second year, he was told it wasn’t possible. He proved the naysayers wrong.

Today, Garrett has a database of 287 people and works three hours a week, and in 2022, he closed 88 deals—all of them sourced from referrals.

How he does it requires effort, time, and, above all, a sincere desire to consistently show up for people.

When you listen to his interview, you’ll hear in his voice the conviction and commitment he has to this simple approach to lead generation. You’ll also discover the various ways in which he builds and nurtures relationships, none of which cost him much, if any, money.

Please enjoy this episode, and we’d appreciate it if you took a moment to leave us a 5-star review and comment on Apple Podcasts.

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