Building Relationships with Other Real Estate Professionals
Relationships are important, even more so in a industry like this. So It's important to make sure you manage them well.
Being a Real Estate Agent, Broker, or Team Leader can be super challenging. Varying markets, an influx of new agents, and many other fluctuating factors influence experiences in the profession. In a commission-based occupation, it can feel incredibly competitive and, at times, unprofessional as a result. It’s essential that as an agent, broker, or team leader, you build positive relationships with others in your industry to truly maximize your effectiveness and growth.
So, how and why would I do such a thing? Here are a few ideas to keep your relationships positive and progressive.
Maintain a Good Reputation.
Our industry is all about the connections we make and maintain. Your ability to grow and service more clients is dependent on how people perceive you and the service you provide. In order to maintain a good reputation, be sure to have a set of standards and practices on which you rely and on which you are consistent. By doing so, your personal brand will develop and those that you know, even your competitors, can trust in you and your reputation. Additionally, within your professional community, build relationships online and in person. Using apps such as NuOp to grow and maintain your professional network is a fantastic idea. You’ll be able to interact in a real estate professionals-only community that will allow you to have reach beyond your zip code. And also allow you to build and maintain a professional reputation that is validated through the app.
Additionally, maintaining your personal brand via a website or other social media page is a great idea for reputation maintenance. However, be sure to be self-reflective and aware of what you post and how you respond when engaging with other professionals or potential clients online and in-person.
Also it is important to be known among your community. Social media is great but another great way to build trust and your reputation is to show your local community you care about them. In our blog about why its important to understand you community we talk about just this. For example there could be countless untapped friendships. Also agents who know their community are picked first.
The MLS exists so there can be cooperation amongst real estate companies. Yet, issues can often arise amongst competitors or even agents within your own office. It is important to understand that to grow these relationships, we must have a foundation of trust. Building trust is something that can take a long time and is also something that can be ruined with just one interaction. In order to build trust amongst other agents and clients it’s important to remain vigilant about a few things.
Be impeccable with your word. Be sure that whatever you say you are going to do, you do; and, if there is ever a shortcoming or a mistake, you own that and are communicative with other agents and clients. People appreciate honesty and candor more than fake perfection and half-truths. Part of building trust is communicating effectively and efficiently. Be sure to never leave agents or clients “hanging” without feedback or information.
Part of NuOp's platform is agents vetting other agents- giving feedback, verifying sales volumes, and evaluating one another. This type of professionals-only community allows you to build trust easily and honestly through a social setting that is fun and easy to use. Other agents knowing who you are permits them to recommend you for a referral or to seek you out for your expertise.
Build a Rapport with your Competitors.
Crazy? Well, maybe… but you should build a rapport with your competitors. It is important to build relationships with clients, but building a relationship with the competition will help you to become more profitable in the long run. According to the National Association of Realtors, “The median age of Realtors® is younger than in the past because more people entered the real estate profession this year than in past years, with 20 percent of members reporting one year or less of experience.”
This past year, 2017, has seen a surge of agents. Undoubtedly, this causes that pool of young professionals to be even more competitive. Be sure to use the influx of agents to better your practice, rather than break it. It is often easy to get caught-up in the details and the struggles that can occur in a real estate transaction, but be sure to keep the end-goal in mind. The most important thing is that the transaction takes place. Be sure to find a common ground and remain positive throughout the process; understand that you have to be effective over being forceful and these practices will aid you in building a rapport with your competitors.
As you can see, there a lot of people you can build a relationship with. And not only is this a important topic, its needed. In such a communicative based profession it is key to manage a large batch of relationships. Thankfully this no longer has to be a painful task as there are many apps such as NuOp and others that help. If you want to see some of our recommendations check out this list --> Real Estate App List.
Also make sure to sign up for free ASAP! You do have to pay a cent to get access to NuOp and its many tools. As well as its growing list of referrals where new ones are up everyday.