HOW DO YOU BUILD SUCCESSFUL BUSINESS RELATIONSHIPS?...
What does it take to make sure those business relationships are successful and how do you build or assemble them???....business relationships are not easy to put together!!! Well directed businesses are like great symphonies!
Think of a symphony; how the horns and the stringed instruments work in harmony. Think of how the piano defines the outline of the piece and how the timpani, the drums, the symbols and the wind instruments refine the work. They all work together, and they are all an essential part of a good outcome...
Yet they must be directed or they create a din--a dissonance and
a real clashing of sounds that can offend, even insult the senses.
THE SAME CAN BE SAID ABOUT BUILDING YOUR BUSINESS RELATIONSHIPS!
As in any business relationship, Real estate professionals need to:
Build a comfort level
Treat all parties fairly
Build a rapport with the client/customer/official
Pay attention to even the most obscure possibilities that can and do affect the outcome of a deal: Waste Water Management, DEC, EPA, town zoning laws, etc...
There are many relationships that need to be nurtured within the associated industries of real estate.
I found an important one from selling my own home here in Southampton Village; one that I would never have thought of unless I had that experience. I had an issue come up with the Suffolk County Department of Health, regarding a subdivision that took place years before I ever bought the property. But it was an issue that almost put an end to the closing on my house...
I found a way to reach the head of Waste Water Management for Suffolk County and emailed him with my plight. I had been turned away by his underling, when he told me that it would take 6 months to a year to clear up this subdivision issue. It was an old issue that happened well before I purchased it and I was taking the brunt of something I had nothing to do with--it was going to kill my deal!
Without going into the long ,gory details, I was able to build a rapport with this department head and his underling and I did a really good job of remaining at the top of their list of priorities through my persistence and my manner of handling them. It got handled in 3 weeks! And I was able to close in a reasonable time. The buyer would never have lasted if it were going to be 6 months!
I now have a very strong relationship that I did not have before all that--I can go to that department head any time I have an issue that needs immediate attention This will work for me in a number of ways and it contributes immensely to my professionalism.
If you have been in this business for any length of time, you know that psychology, knowing how to handle people with a deft hand in their most vulnerable moments, is key to building a good client base. It's important to know that how you treat all parties involved in doing business is going to affect the results.
It is wise to keep this in mind as you compile your recommended list of service people, inspectors, appraisers, lawyers, city and county officials.
I always ask myself these questions when I am dealing with a person for the first time--buyer, seller or an associated service:
How ready does this person appear to be to sell?...to buy?
As in inspector, service person or town official, are they generally open to tackling potential problems?
Is there a particular circumstance that I need to be aware of when dealing with a seller...a death of a family member?....a lost job?...a divorce?
Has an inspection been done on the property recently? If not, who would I recommend--who are the three most trusted individuals?
How long has this seller lived in this house? Did they raise children here? Did they buy it to sell it?
Are all the right people lined up to work toward getting a deal done?
Am I prepared to guide the buyer/seller to the closing table with inspections, financing, potential pit-falls in an appraisal?
What does the chronology of owners and their renovations and repairs show in a city, town or county data search?
I have a check list of all these "parts" of a deal and then, using my best business relationships and the names of the most up to date and trusted people, I add them to the list of services/advisors that I will have to contact or recommend.
After the deal is signed up and the contracts are fully executed, there are a number of things that can still go wrong and that can cause a deal to go South; remember the old saying about the Fat Lady singing!!!
If you have done your research and your "due diligence" properly, you have built another level of your business that will help to ensure a successful outcome.
ASSEMBLING ROCK SOLID BUSINESS RELATIONSHIPS IS PRIORITY NUMBER ONE WITH ME!....
HOW ABOUT YOU?
WHAT ARE SOME OF THE THINGS YOU DO WHEN BUILDING YOUR BUSINESS RELATIONSHIPS?