If I could ask you what you believe makes a successful real estate business, I am betting you would say: a company who knows the market and how to market their business while delivering amazing customer service.
And that would be absolutely right.
Although, while important, these factors are not the only ones that produce success in the real estate business world. In order to attract new and keep existing clients, you also need to dedicate resources and take the time to invest in building strong business relationships that help people feel valued and encourage them to achieve their goals. But there’s more to it than just great communication or being nice on the phone. Just like your personal relationships, business relationships take time to develop. It’s an investment. And as with anything you choose to invest in, it usually requires a process that develops over time, turning every contact into an opportunity for communication, trust, and growth.
To put it plainly – to be successful, businesses need to establish positive relationships with peers and clients alike.
One of the ways we recently saw an opportunity for relational growth within our business was by attending the 2021 ICSC convention in Las Vegas. This year’s event was definitely unique compared to other years. There are usually about 25,000 people signed up for this convention but there were only about 9,600 people that showed up this year. Because of the uniqueness of this year, we saw it as a “get out of town and act like real estate brokers for 3 days to see people we haven’t seen in a long time or have done deals with but have never met” kind of event. This was purely for networking purposes. No one was looking at deals or negotiating LOI’s.
From an RBN (Retail Brokers Network) standpoint, I went there as an executive and took my team out to dinner as a thank you for being a part of RBN and coming to the show. Taking time out to invest in people this way is a great relationship building tool. I also took advantage of the time I had at ICSC to pour into younger brokers and teach them how to do business and work a conference. As a leader, I saw an opportunity to teach these up-and-coming brokers how to put themselves out there and make friends, and to see what others are doing in their city and find an open door. Focusing on relationships is essential for long-term business growth.
People place a high value on their interactions and experiences with you and your business. While it takes more time, effort, and resources to render new ideas into a positive return or relationship, others will appreciate the deposits you make in their lives and the ways you invest into them which will in turn lead to greater success in your future as a business leader.
If you would like to build a business relationship I can be reached at email@example.com.