Quote:
Originally Posted by Erik  You guys are crazy.  You can definitely make money on referrals. Referrals are not limited to just having a friend or family member do business with you or giving your card to their friends.
Referrals come from branding yourself as well, and I'd say much moreso than just hitting up your friends and family. What you guys are talking about is network marketing, or the dreaded MLM approach.
I interpret "referrals" the same as I do "word-of-mouth advertising". Absolutely nothing wrong with it, and if you can get it, it's the best kind of advertising you can have. But, as always, just my opinion. |
You may have mis-understood what I was trying to say Erik; "word-of-mouth advertising" is EXACTLY the business plan people use, who want to stay small and not grow their business. Surely there's a place for those folks in the industry, they do well staying small out yonder in rural America.
It's been my experience from the wide range and volume of contacts we receive where I work, that that paradigm is usually pushed by broker/owners on new LO's, because they're too CHEAP to advertise, and/or they are clueless on how to advertise and market a business -
it cheats the LO's my point. MLM was not in my mind when I wrote that, I was aiming at what I just said, along with the notion of BEGGING referral sources (like Realtors) for business - only to have your vendor/suppliers goof up (like they do all the time for you and everybody else Erik) and KILL that (Realtor) 'relationship'.
