Starboard Commercial Real Estate

Hans Hansson | July 14, 2010

No matter what business you are in, have you ever considered what other business opportunities you can create for yourself by asking more questions of your clients? If you have the ear of your client-you have a major edge in developing more business. With your client's attention, you can develop more business from referrals that could lead to more dollars in your pocket.

As salespeople, we are always focused on our services and products. We forget that we can also earn income through referrals-or use them to develop important relationships that could lead to direct new business for you.

Take myself as a commercial real estate broker; I service the San Francisco Bay Area. What if in the course of my connection with my client I also ask the following question: "Do you have business in other markets that I can help you with?" Could this lead to more business for you by developing this referral?

You ask your client "Do you need an architect? Do you need a moving company? Do you need an attorney?" All of the additional services that are required in a move or in a property sale have an additional vendor that is involved. By asking more questions you can develop more referral business.

If you decide to concentrate on asking more questions to develop more referral business, the next issue you will have to think about is whether you should ask for a referral fee-or pass on these leads for free-in exchange for developing more relationships with these other vendors so they will remember you when they find out that someone may need your service.

Also keep in mind that if you refer someone, to refer someone you know delivers the kind of service your client would expect from you. Referring a bad vendor can do far more harm to you than any referral fee you can make.
Posted 9 years, 3 months ago on July 14, 2010
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Comments on this post:

Re: Asking More Questions for New Business
This is a very interesting post. Having a business is a challenge. The knowledge you know is not enough, there's an on-going learning process while you are handling the business. So, you have to be prepared for it.

2010/08/05 by Property in Vietnam wwwReply
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Re: Asking More Questions for New Business
We focus on our core business but we forget the power of the referral. These referrals can provide you immediate benefit if you choose to accept money for that referral or if you simply pass it on as a referral the possible referrals you will get in return.

2010/08/13 by Anonymous • • Reply
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