How would you define your relationship with other players in the real estate industry? Studies prove that connecting with other real estate agents would help you to succeed and grow faster in your profession. There is competition in every trade and when it comes to a business that involves high commissions, the competition is higher. A hypercompetitive professional competition could lead to toxicity.
Lately, more people have been considering real estate as a career choice. With a greater number of people entering the field, there has been a sudden upsurge in the competition. Each agent is striving hard to go the extra mile to be the best in the industry. And, needless to say, this competition puts the agents in a tight spot. A hot real estate market pressurizes the agents to indulge in unprofessional behavior.
The members of a Multiple Listing Service (MLS) are expected to work together. So, with the numbers getting hotter and the sales taking a dip (during market downturns), how can you stay positive and build better professional relationships with other agents?
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In this article, let us explore some interesting tips on bonding with other real estate agents.
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Trust
Any relationship that is built on the foundation of trust will last forever. Try applying this to get your peers to cooperate with you. As discussed, unless you find a way to bond with the other agents, you would struggle to thrive. Just like “Rome was not built in a day” – building a relationship would require you to invest some time and effort. You would have to work on getting people to trust you.
If you have tried to use listings for your business, you might know that while sometimes it happens to generate sales, it does not always. You must use some out-of-the-box ideas and strategies to advertise and market the property. Additionally, you would have to work on promoting your reputation. How about this? Team up with another agent, do business together, make a sale and share the commission.
This is where you can work on building trust. Only if you trust each other, this partnership will work. When the partnership works, you will see a sea of buyers and sellers coming in, building your business.
As discussed, with the MLS, you can team up and do business.
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Make friends
Once you have earned their trust, you have achieved the most important milestone in your partnership. Of course, you still are competing, but a friendly competition won’t hurt. There is nothing to fear when the person on the other side is friendly and accommodating plus you are working together.
Since you share a friendly relationship with your competitor, you get a chance to learn new things. This will reflect in how you handle your business. As the real estate industry booms, agents can learn and bounce ideas off each other, providing better professional services to their clients. Also, when you have friends in the same professional circle, what else could be a better way of getting referrals.
There is always a possibility of an agent steering a client away from another unfriendly and uncooperative agent. They will also request their sellers to think twice before accepting an offer from an uncooperative agent’s buyer as this could lead to problems.
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Build a reputation
As we discussed in #1, you need to work on building your reputation, which would be challenging if you are doing it all by yourself. For your business to grow and succeed, you need to focus on building and maintaining yourself a good reputation. If you are successful at building a good reputation with current and past sellers, you can obtain more listings. This applies to past buyers as well, who will recommend you to future buyers. Make them happy and earn their trust.
When you earn their trust, your good reputation will be carried over to others, who might not be a potential buyer or seller.
Keep your differences aside and get along with people
At first, it might seem unlikely to get along with some people. People have different attitudes and personalities, and you might find it a challenge to get along when your thoughts run in different directions.
Whatever differences you might have, try not to let it in the way of your work as it could jeopardize your relationships. Given the nature of the profession and the pace at which the industry is growing, it is important to work together.
Once you build trust, you can work together, and this will help your business grow. You can start small and then build an entire community that works in your favor.
If you are looking for houses for sale in Lincoln, Nebraska, our team at Location Lincoln can assist you. Reach out to us today.
