It's all about the referrals...

Most any self-employed professional can tell you: There is nothing more important to me than referrals. For me, it’s the single most important aspect of building a long-term career. Now, after 25 years in the real estate business, the vast majority of my business comes from referrals. Referrals may come from friends, past clients, friends of past clients, family members of past clients, and even Realtors in other markets – markets in another state or another part of town.

It’s really a two-way street and a win-win for everyone. Clients are most comfortable working with someone who was referred to them by someone they know, and I’m most comfortable working with someone who is referred to me by someone I know. The trust level is much easier to establish that way, and trust is a very important aspect of a Realtor-client relationship.

And this concept applies in more aspects of buying a home than choosing the right Realtor. For instance, choosing the best lender for your mortgage. Many people make the mistake of simply shopping for rates, and picking the one that appears to offer the lowest rate. That can be a huge mistake. There is way more to the mortgage equation than the stated rate, and a good loan officer can help guide you through that process.

I have established great relationships with several wonderful loan officers, which I’m always happy to share with clients. However, I also tell them that no matter who they choose, it should be someone who has been recommended through personal experience, either their own, or by someone they know and trust.

The process continues once you’ve become a homeowner. I’ve heard way too many stories over the years of people who have had bad experiences with contractors, plumbers, electricians and other professionals. Once again, picking the lowest price is not always the answer. It doesn’t end up being the lowest price if you’re unhappy with either the process or the end result or if you’ve expended too much of your own time to get someone else to satisfactorily complete a project.

I am always happy to recommend good resources for home improvement or repair projects, and I also encourage the personal referral concept here. Just because you’ve heard of someone or they are marketing to your neighborhood doesn’t mean they are necessarily the right person for the job. Find someone who has had a good personal experience with them.

As you can see, there’s a theme here. I can’t stress enough the importance of personal referrals. We may not be able to control the real estate market, but at least we can minimize the risks involved by working with folks we trust.