In the latest RISMedia webinar—”Cracking the Code: How Jason Mitchell Group Nurtures Lucrative Referral Networks”— industry thought leader Jason Mitchell, founder of The Jason Mitchell Group, discussed one-on-one with RISMedia’s founder, president and CEO John Featherston about the partnerships and solutions necessary to ensure better opportunities for homeownership, as well as how these solutions will lead to more referrals for agents. He also shared his insights on recent industry changes, and how these will affect the future of real estate business strategies.
Key takeaways:
- When you can drive referrals you add more value to your agents, and that in turn can help them with self-generated business. So it’s a domino effect.
- You need people to service consumers. You can hire an attorney to write a deal, but they’re not going to take you on a tour of houses three and four and five times. Or if they do on an hourly rate, what does that rate equate to?
- If commissions get compressed you have to be more transactional. The only way to make up for lost dollars on a transaction is to do more transactions.
Here’s what Mitchell and Featherston had to say:
- “I think there will be a continual shrinkage in agents, which will mean more market share for us. And we will be more flexible with our strategic partnerships.” –Jason Mitchell, founder, The Jason Mitchell Group
- “There are a significant number of agents who are confused by what’s happening and are looking for action steps to take to not just maintain their profit position but improve upon it.”–John Featherston, RISMedia founder, president and CEO
- “The idea that the (legal settlement) date is July, do they think we are all going to be ready? It just feels rushed.” –Jason Mitchell, founder, The Jason Mitchell Group
- “We always encourage buyer/broker agreements. The reality is a consumer will be more loyal to that real estate professional.” –Jason Mitchell, founder, The Jason Mitchell Group
For more information on nurturing referrals, check out the full webinar here.
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