Entry by Merv Forney

Consult and refer

Here is an example of the consult and refer approach:

A few weeks ago I received a call from a potential client who asked if I would do a property evaluation in preparation for listing their home. I replied that I worked as a consultant, it would take two hours of my time at $175 per hour.

They agreed, I did a bit of comparable research, met them at their home (they had the check in hand for $350), gave them some verbal advice, took notes and subsequently sent them a written report (Property Evaluation Report.pdf). I also sent them a proposal for the listing using my Shared Risk approach being paid up front for my marketing. Because of cash flow issues, they were not able to accept my proposal although they were impressed with my professional approach and thoroughness in presenting my analysis and wanted to hire me.

As a result, I declined the listing and referred it to a friend with another broker. He took the listing with a traditional commission approach and is willing to pay me a 20% referral fee if and when it sells. It is a $1,000,000 property in an upscale Northern Virginia neighborhood.

There is more than one way to earn a living using consulting.

This page contains a single entry by Merv Forney published on July 18, 2007 8:27 AM.

Investor's Request for Service was the previous entry in this blog.

Color me blushing! is the next entry in this blog.

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