"Realtors® have a good handle on the importance of prospecting other Realtors® who represent the same types of properties. They form partnerships that are not company exclusive and alliances with Realtors® they have enjoyed doing business with in the past."
The operative word here is PARTNERSHIP. Omar Periu's book, Investigative Selling, is a great source for the serious salesperson.
An interesting idea for Listing Agents as described by Omar in his book: An agent has brought you a qualified buyer. Find out when and where his/her office meeting is scheduled and deliver a large television set (or large gift), beautifully wrapped, to the office during the meeting.
The other agents at the meeting will "see the box," -- will ooooo and awwwwww, and will possibly be quick to want to work with you (if you get a reputation for delivering such nice gifts to buyers' agents!)
From your manager's standpoint: "Go forth and bring gifts!!!! -- SPREAD THE LOVE!"
The other agent will ask, "Is everyone at your office as thoughtful as you?"
What a great reflection on your company!
You tell'em, "Come on over!!! The water's fine, just fine!!!"
Tell your manager at the end of the transaction how great that buyer's agent was to work with (hopefully, the agent is not at home glued to the TV you had delivered).
The listing agent is so important. I have been known to tell my Sellers, "Agents break their necks to show my listings because they know I'll answer the phone, return my voice mails, and do my job! -- and I make sure the agent bringing me the buyer knows that s/he is greatly appreciated when the transaction closes!"
I and another agent from a competitive company had a transaction with incredibly tough negotiations. My Seller was an engineer, had turned down a cash deal, thought this whole process was a big game, and made everyone question his/her sanity on an hourly basis. When the deal finally closed, I made sure that the other agent received plenty of brightly colored gifts from me (i.e., a jar with the saying, "ASHES OF PROBLEM CLIENTS," and other lovely gifts from our local town center gift shop).
She told me, "that deal was so draining, Karen, I am leaving the business and working for my fiance who is a lawyer."
Having worked for lawyers for over 25 years, "Michelle, aren't you jumping from the frying pan into the fire?"
In any event, I made sure she felt loved and appreciated -- even though she and I started out on rough footing and were beaten up throughout the entire transaction! (Oh, by the way, her clients were both attorneys!)
Prospecting your fellow agent is a wonderful way to make a name for yourself in the real estate community --
My mother always said:
BUYERS AND SELLERS COME AND GO, BUT REAL ESTATE AGENTS ARE STUCK WITH EACH OTHER!"
-- and that advice comes from someone who has sold property and managed Real Estate offices for over forty years in Tennessee, Texas, and Florida. She is currently a broker-associate in Savannah, Georgia BECAUSE Realtors don't re-tire, they re-tread!
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