Does this sound familiar?
You go out of your way – spending your time and energy – to grab coffee, snacks and some gift bags. You swing by the office of your favorite RE agents to drop them off.
Days, weeks and months go by – no calls, no response from those agents. And at the end of it all, you’re wiped out. You’re sick and tired of waiting and hoping that someday your efforts will pay off.
If this sounds like the past 5 years, don’t worry. Most everyone is using this type of approach to attract real estate agents.
Good news is, you don’t have to follow the same beaten path as everyone else.
In fact, this is a great opportunity for you to break the pattern and stand apart from the crowd.
In this post I’ll discuss why bringing gifts for Realtors practically never pays off. It actually works against you in 3 major ways. Then towards the end of this post, I’ll let you in on a new approach to “turn the tables” and have Realtors chasing YOU.
You already have what it takes to make this happen. The question is when are you going to choose to do it. Why not start right now?
So, let’s get into it and talk about 3 major reasons bringing gifts for Realtors works against you…
1. Vending machine syndrome
Vending machine syndrome occurs when you pass out snacks to the point that people start to associate you with “snacks”. This sounds ridiculous on the surface, but let’s dig deeper. In psychology this is known as “conditioning”.
Pavlov’s study is the most famous example. Real short, every time Pavlov rang a bell, he’d feed the dogs. The dogs began associating “ringing the bell” with “food”. The ringing bell triggered a response. Eventually the dogs would drool to just the sound of the bell. Classic conditioning…
The vending machine syndrome is a triggered response. Realtors start to associate you with snack-time rather than business. It’s unfortunate, but at least you know about it. Now you can begin to shift that mindset.
We’ll talk about how to reverse the vending machine syndrome later, but first… Reason #2.
2. Unfair exchange
Let’s briefly talk about relationships.
What’s the one thing that solidifies any relationship? Whether it’s husband and wife, a business partnership, you and your children, your pets… Pick any relationship. The one thing that bonds a relationship is the give and take. Equal exchange.
Take out that one ingredient and your relationship isn’t solid. It’s not balanced anymore and it’s bound to fail.
Getting back to bringing gifts. It’s understood gifts are meant as a nice gesture of good will. However, at the end of the day, it’s not an even exchange.
The Realtor has referrals, you have snacks. If you want Realtor referrals you’ll have to do a lot better than that.
You’ll have to offer something of equal value. If you can offer equal value, you’ll stand out from the everyone else doing the same old routine bringing the same old gifts.
If you want to build a lasting Realtor partnership, keep reading.
3. The Power Gap
Above all, this is the biggest reason why bringing gifts works against you.
The problem with this approach to attract Realtors – is you’re making them feel superior.
This happens to a lot of people when you spoil them with gifts and treats. They start to get used to it. They take your kind gestures for granted and take you for granted.
Ever wonder why many real estate agents ignore and even disrespect loan officers? For this reason there’s huge disparity between RE agents and loan officers. I call it the “power gap”.
The only way to close the power gap is to turn the tables on Realtors. You need to shift the power to yourself. How?
Simple. Get in front of serious home buyers in the early stages of their home search and have those buyers calling you. That way you will have Realtors competing to be your loyal referral partner.
To find out exactly how to do that, check out my new video.
It’s just under 13 minutes, but it’s packed with info you can start using today to close more deals consistently and have Realtors coming to YOU with ready-to-sign referrals.
The worst case scenario is you get a free video.
The best case is you will be able to “turn the tables” and have Realtors chasing YOU.
I'm the Co-Founder & Customer Acquisition Specialist at The Lead Reel. I build custom blueprints for loan officers with one purpose: To turn the "average Joe" into a top performer. Before starting The Lead Reel, I worked in tech in San Francisco, CA.