Building Relationships in the Real Estate Industry
When you think of building relationships in real estate, you probably think about the relationships you have with buyers and sellers. However, building strong work relationships with other real estate agents help support successful careers. Real Estate is a particularly competitive industry, which unfortunately can sometimes lead to unprofessional behavior towards one another. However, there are many reasons you should prioritize networking and building relationships with other real estate pros. Here are some tips on how to build relationships with your fellow real estate agents and how it can help your business.
While you may not want to build a relationship with an agent you are directly competing against, it’s still a very good idea to build relationships with agents who are under the real estate umbrella but do not compete directly with you. Conversing with agents who work in different real estate fields can be helpful for the both of you. You’re able to share unique knowledge with one another and you’re able to send referrals to one another if necessary. It pays to have connections in the real estate industry that can personally vouch for your business and send referrals your way. Similarly, if a fellow real estate agent knows about a new listing, you might be one of the first agents to take a peek. Because of your good connections, your clients now benefit from them too!
Just as you should never gossip with your clients, you should always avoid gossiping when speaking with other real estate agents. If your goal is to build meaningful relationships with other real estate agents, gossiping will accomplish the exact opposite of that goal. Most real estate agents conduct themselves professionally and ethically, but there are always a few “bad apples” of the bunch who resort to gossiping out of boredom or even jealousy. Avoid these kinds of people in the industry and make sure you aren’t participating in it yourself. Simply put, no one appreciates a gossiper. People will wonder what you will say about them when they are not around. Focus on speaking about general real estate topics and topics that don’t disclose other’s personal information when speaking with other agents.
Give Credit Where Credit is Due
It’s hard to build a strong relationship without having mutual respect for one another. A great way to show that you appreciate and respect your fellow real estate professionals is to give them credit where credit is due. It’s easy to get jealous when you see another professional in your field doing great things. Instead of harboring negative feelings, reach out to that person to congratulate them. You never know where conversations like this can lead; they may even decide to share some of their success secrets with you so you can implement those practices in your own business. There is room for everyone to succeed!
Building relationships with anyone require time and patience. It’s no different with your professional relationships with other real estate professionals. Some relationships will grow organically and with ease, while others will require more effort. Take at least 20-30 minutes a day to connect with coworkers and professionals in your network that you don’t normally speak to. It doesn’t need to be elaborate; it could be as simple as commenting on other real estate professional’s social media posts or on their website.
Foster a Positive Reputation
As a real estate professional, you probably know that your reputation plays a very important role in your success. Your reputation can help attract new clients – or chase them away; this same ideology applies to how other real estate professionals view you! If a fellow real estate professional knows you have a good reputation, they’ll be more likely to reach out to ask for your help or even refer clients your way.