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Relationships- the core of a successful real estate business.

By Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Services for Real Estate Pros with Real Skillz-Clear Marketing for Your Real Estate Vision

October 10, 2008 03:17 AM

Yesterday I was having a conversation with my father, who got started on a down and out rant on the real estate industry. I love my father, a man who's been a home buyer and seller many times. He is the first person I have sought to discuss the state of the economy with...but we draw very different lines in the sand when it comes to the real estate industry.

So my good old dad started telling me how real estate agents are only driven by the money of real estate. That home buyers are driven by emotions and that the two don't mesh. Now every industry has it's slugs, but I took personal offense, dug my heels in, and started to lay in. By the time I was done, something happened which doesn't happen very often in discussion with my dad....he didn't end up agreeing, but for the first time I've ever witnessed, he backed down.

"You see, I know what he doesn't and can't put up a good fight against, "Relationships are the core of a successful real estate business"

I have a passion for my industry folk who have supported my family all these years. Yet I haven't been in many real estate conversations in 16 years where the give and take exchange of positive information about real estate professionals has been equal. It's usually one bad experience that unlevels the playing field for the reputation of the rest. That and the media.

It's a doggone shame.

I know it's not "fair" but the good professionals gotta step it up and out shine the bad seeds. It's not a fair burden to carry, but it does present opportunity. I think now is the perfect time for great professionals to shine through, burn the box, and provide services never experienced before to renters, homeowners, and home buyers.

I leave you to dig on this MP3 about relationships, "300 Dollars".

And the knowledge that you'll always have one feisty chick in the background whose always on your side.

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Ed Cheek

Cheek One Properties, LLC - New Orleans, LA

Rebecca, I love the analogy (defending your point) about the local grocer.

The local grocer in which you have this relationship, does he own the store?

Does this local grocer belong to a grocers associations which mandates that he treat all customers equally?

When this grocer puts aside the last rotating chicken for you, how many ethics rules is he breaking?
(shouldn't I have the right to go in and buy that last chicken if I want to?)

I could go on and on, BUT, I will stop here and say.....

Your local grocer is not bound to treat everyone equal....as you are!

So, what EXACTLY, can a buyer or seller get from you by having a relationship with you....
that the next person couldnt get ?

What special services can you provide to one customer or client that you cannot provide to the next?

I would love to know how the "relationship" benefits the customer and client.
(I understand what you get from it.)

Oct 11, 2008 03:30 AM

Anonymous

Stacy Lyons Ronck Realty Yukon, Oklahoma

Rebecca,

You are so right!!! It is our time to shine. We are going to weed out a bunch of Realtors. Even more so in todays times, people went a personal touch. Yes ,they want their house sold or the house of their dreams found, but they want to know we are human and care about what is going on in their lives. If all they see is the BMW or the Lexus, then they think it is all about money. We have to be professional and care about what is going on in their lives.

Buying and selling real estate is a very emotional process for our clients. We do this every day, they don't. They need to know we understand and care about them. From the first time buyer to the seasoned veteran. If we don't put people first, then there is no reason for me to do this job that I lOVE!!

Oct 11, 2008 03:40 AM

#69

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Ryan- Well said. There is more than one school of thought.

Ed- In this example am I not the customer and the client. I have watched the interaction of the other customers at this grocery store and the service level they receive and the relationship is very similar.

One thing here Ed, which I don't mention in the written post but you will catch in the audio is the reciprocity of relationship. Relationships should be 2 way. There really isn't such thing as "one size fits all" unless you don't mind sacrificing relationship and service and then you can go buy your products at WalMart. Which as I mentioned, some times I do- but then I as the consumer, have to have a realistic expectation going in.

Oct 11, 2008 03:42 AM

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Stacy- Every time I have spoken to a real estate agent who has recently moved, or is undergoing a move, they have told me it has really helped to put them in touch with the needs of their buyers and sellers. An awakening of sorts.

Oct 11, 2008 03:44 AM

Ed Cheek

Cheek One Properties, LLC - New Orleans, LA

HA, I knew you would side step the questions and sugar coat the subject. LOL

Have a great day, I learned long time ago (thought I still try from time to time) that you cant argue with a realtor, they live in fantasy land! LOL

Good luck to you all, say hello to Mickey for me!

LOL

Oct 11, 2008 03:50 AM

Anonymous

Diane J. Malagreca

Dear Rebecca:

From one feisty chick to another, that is not a fair assessment of Realtors or the business. First off, you really need to listen to homebuyers and not have your own agenda in mind, but theirs. This goes for sellers also, this takes a certain amount of personal integrity and good business sense. Second, let's talk about money -- after expenses and what you REALLY net the public has a real misconception as to the earnings. What about the exploitation of the Realtors by buyers and sellers? What about the back dooring that goes on and on.............come on. What about the franchise fees, taxes, general expenses and making nice with a disenchanged seller/buyer?

Remind your Dad that human nature is what it is and it is not exclusive to Realtors but universal to humanity. If you use your moral compass and good business sense in real estate you can reap the rewards of a good reputation and referral business.

There is corruption in every aspect of business, politics, what have you, remind your Dad. I'm sure he has lived through these moments in history!

Best,

Diane Malagreca

Oct 11, 2008 03:56 AM

#73

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Ed- Pssst.....I am not a real estate agent:-) You are talking to one of the public. A consumer.

Diane- You said it well- I'll just point Dad in the direction of your post.

Oct 11, 2008 04:53 AM

Ed Cheek

Cheek One Properties, LLC - New Orleans, LA

Oh, I get it now...

You are having a relationship with a realtor who can give you special favors.

Hunny, let me go ahead and tell you. Special favors that realtors participate in are illegal and break all the laws that realtors claim to adhere to! You know, ethics, fair housing, and stuff like that!

Your dad is right!

BUT I do understand your stance now.....you are fighting for your job, by keeping the realtor who are barely making ends meet....paying you! HAHA...good one!!!

Oct 11, 2008 05:00 AM

Adam Anderson

Northwood Realty - Pleasant Hills, PA

Hey Rebecca! I agree that building healthy relationships is the key to a successful real estate business. I strongly feel that these relationships need to be built on genuity. It's important to make those calls/connections, but there's a fine line between calling/connecting with somebody for business and just calling/connecting to catch up! I'm starting to make phone calls again this week to my past clients/ old and new friends/ and relatives. I am genuinely interested in their lives, however I do know how important these phone calls are to my business....you gotta find that line and walk it! Good article! Thanks!!

Oct 11, 2008 05:03 AM

TIM MONCRIEF

Tim Monciref - Austin, TX

Over 2,000 homes sold…..

As I have tough hundreds of agents over the years.....If you do not have a passion for this business, get out. You will end up miserable with or without money in the bank. 'tis better to be happy with little money. Just be happy in life....get over the strive for money and strive for relationships. That is what this business is all about. If you love relationships and have a passion for real estate, you got it....

Cheers............

Oct 11, 2008 05:43 AM

Winter Baserva

Seasons Realty Group of Atlanta Communities - Atlanta, GA

Realtor -Homes For Sale, Atlanta, GA

I can't tell you how many clients I have that said that "they dealt with a realtor before who only wanted the transaction" and how they are "so happy they found me." I try to make them see that YES there are some bad realtors out there, but not all of us are shaped that way. Take care of your clients....its that simple

Oct 11, 2008 03:57 PM

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Ed- lol. I don't have any special favors I am receiving from a real estate agent. I am aware of legalities, I started in this business working for a real estate attorney. Now of course it is in my favor to have real estate agents working and making a living, not just as a consumer but as a business professional. Why is this a bad thing???????? Many businesses depend on each other.

I am sorry Ed I guess I am not understanding your driver or motivator here. I guess sincerity may be hard for some to acknowledge in these days where there's such a lack of trust. I am not going to stop posting my genuine feelings and sentiment though and I guess I wouldn't expect you to either:-)

Oct 12, 2008 03:48 AM

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Tim- That is great advice- everyone should follow what makes them happy.

Oct 12, 2008 03:50 AM

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Adam- You'll be able to get to the needs a lot more directly that way.

Oct 12, 2008 03:51 AM

Spencer Hill

Hill Asset Management - Kingstree, SC

#1 Financial Planner -- South Carolina

"I know it's not "fair" but the good professionals gotta step it up and out shine the bad seeds."

Better yet expel, get rid of the bad seeds - no referrals to mortgage brokers who charge excessive origination fees and put people in bad loans, realtors who try to stall the give and take of negotiations so both sides feel they got the best deal that could be had. In general isolate the corrupt ones that impede a fair, trusting market.

Oct 12, 2008 06:36 AM

Anonymous

Pam Ghanaati, SoonerSold Team, Metropolitan Real Estate

Great post, Rebecca!! You are right on the mark about building relationships and truly caring for our clients. I have a couple right now that was within $2,000 of a counteroffer from the Realtor/Seller. She would not counter back even though we were around 95% of original asking price. They decided to keep looking and I'm happy to help them find the right house at the right price. Nobody likes to be "sold" anything, but we all like to work with people we like. And I am taking up your cause: "the good professionals gotta step it up and out shine the bad seeds." Amen. This is the only way to overcome the bad publicity of the "bad seeds."

Oct 12, 2008 11:30 AM

#83

Laura Sellers

Berkshire Hathaway HomeServices Preferred Real Estate, Inc.; www.AuburnOpelikaALRealEstate.com - Auburn, AL

www.AuburnOpelikaALRealEstate.com

Our business is about building relationships, but isn't it so much fun doing this and being able to meet so many wonderful people. I truly love my job and being paid for what I love to do is truly a blessing. One of the best compliments I can receive is repeat business. This lets me know I did a great job for my clients.

Oct 13, 2008 04:07 AM

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

Spencer- This client attrition/absence will come naturally if these professionals don't turn around.

Pam- I am glad, I know many of you are already great professionals, it's time for superhero size:-)

Laura- I don't sell real estate, but I always like that part too. Because I helped real estate agents close their deals after signed contracts- got thru home inspection, attorney's approval, ,mortgage approval and stuck with the contracts, the amount of repeat the law office did as a result was fantastic.

Relationships pay off in sooo many ways.

Oct 14, 2008 09:30 AM

DeAndrea "Dee Dee" Jones

Samson Properties - Manassas, VA

DMVRealEstateChick

It is good you held your ground and did not back down. More of us need to share our feelings with people who have negative opinions of us to change the stigma.

Oct 15, 2008 06:51 AM

Rebecca Levinson, Real Estate Marketing and Online Advertising Consultant

Real Skillz-Clear Marketing for Your Real Estate Vision - Lake Geneva, WI

DeAndrea- Thank you.

Oct 15, 2008 07:24 AM