HOW DO YOU BUILD SUCCESSFUL BUSINESS RELATIONSHIPS?...

By
Real Estate Agent with Douglas Elliman Real Estate 30HA0800896

BUILDING A BUSINESS IS LIKE PLAYING IN A SYMPHONYHOW 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 WE ARE THE "CONDUCTORS" OF OUR BUSINESSES

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 Trust
  • Build a comfort level
  • Be ethical
  • 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...

 

ITHE SYMPHONY:  ALL PARTS ARE IMPORTANT TO GET THE RIGHT RESULTS! 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 wouldTHE PIANO DEFINES THE OUTLINE OF THE PIECE 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 mostALL PARTS OF THE ORCHESTRA NEED TO MESH PROPERLY. 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?

 

 

close

Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
New York Suffolk County Southampton Southampton Village
Groups:
Active Rain Newbies
Realtors®
Real Estate Tomato Bloggers
"Whacked"!!!
Bananatude
Tags:
business relationships
suffolk county
southampton village
well directed business relationships are like great symphonies

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Gary: Thank you and I am glad you agree with me! All those other people who appear to be peripheral are really critical elements to the deal...The sooner one sees that, the faster the building of those relationships can take place.

Mar 03, 2013 10:35 PM #19
Rainmaker
335,304
Linda Piper
Planatek Financial, Inc. - Ventura, CA

Paula:  I remember reading about your the issue you had with your property.  So glad to hear it was resolved for you in such a positive way.

I completely agree that our relationships are the foundation of our success.  This year part of my business strategy was to use my business skills to help the people around me - I've helped one agent with a business plan, another with technology and a branch manager with recruiting to help build her office.  This is translating into relationships that are beginning to generate referrals.

Thank you very much for this article - excellent reminder of how nurturing our relationships is vital to our businesses.

Mar 03, 2013 10:42 PM #20
Rainmaker
2,534,608
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Honesty rules the day for me..lots of it too...Then, on to results. Results dont lie...people do but they dont....

Mar 03, 2013 10:48 PM #21
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Linda: Thank you for the input on relationships with your fellow agents--I get a dead silence in response to anything I ask or say about doing business--AR has benefited me on this point because I turn to those members here before my fellow agents...Now it is time for me to focus on those around me and I appreciate your suggestions above!

Mar 03, 2013 10:50 PM #22
Rainmaker
262,573
Kim & Kristine Halverson
Compass - Santa Monica, CA
Sisters, Realtors

Paula,  what a great reminder of how to culivate relationships.  They come in all sizes.  For me it's easy to be straight forward, and sometime a challenge to be even tempered.  Especially when the other person isn't being straight forward.  Congrats, on you and your manager motivating people to get the job done!  Kristine

 

Mar 04, 2013 01:01 AM #23
Rainmaker
56,229
Tony Busanich
TD Bank - Freehold, NJ
1-4 RESIDENTIAL FAMILY LENDING SPECIALIST

Paula, Great post. i think the things needed to building a successful business relationship is trust, integrity putting yourself in someone else's situation

Mar 04, 2013 02:31 AM #24
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Richie: You said it! Honesty is my constant focus--share honestly and expect honesty in return. It will be known if there is a lack of it soon enough. I know people who doubt everyone they come into contact with and while I am an advocate of "trust but verify", I do think that those who are too un-trusting can end up losinig alot from those fears.

Kristine: Thank you so much; I learned so much from my experience with the head of the Dept of Health; I have a wealth of experiences now to draw on to say nothing of the feeling of achievment!

Tony: You are right about that--until you walk in someone's shoes, you don't have the needed information to complete a business transaction with them...that is why I feel like the questions you ask and how they are answered is the best way to get to the underlying issues and deal with them successfully.

Mar 04, 2013 03:11 AM #25
Rainmaker
223,698
Angela Clark
Tony Clark REALTORS - Owensboro, KY
CRS, Realtor, Broker

Paula, As a musician, I love this analogy! Well Orchestrated post!

 

 

Mar 04, 2013 04:38 AM #26
Ambassador
681,328
Paul McFadden
Paratex - Seattle, WA
Pest Control, Seattle, WA.

Over time. I just received a phone call from a realtor I met two years ago. We must have left a favorable impression on each other as she now wants to refer her clients to me. I have to admit I had lost track of her as she had left the business temporarily. But she didn't lose track of me and I am heartened by that. Never say never! thanks for the post!

Mar 04, 2013 05:10 AM #27
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Angela: Great! Glad you got it! It was an analogy that my Mother used to use when she taught us how to think about the way our lives should work. She had 6 kids and it was a little chaotic to say the least--I think she secretly viewed herself as the "conductor" of our lives--she was amazing!

Paul: Now, that's the way it should work don't you think? What a compliment to have someone come back to you seeking your help after a long separation too! Never ever say NEVER! This is a good way to teach patience in this profession--it does pay off in big ways if we show exhibit patience in all our dealings. "You can't push the harvet!" :)

Mar 04, 2013 05:17 AM #28
Rainmaker
948,359
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Paula, excellent information that deserved the featured - congratulations.

Mar 04, 2013 05:39 AM #29
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Kwee: Thank you! I appreciate your reading it and hope you are able to benefit from the infotmation in the comments as well as the post!

Mar 04, 2013 07:12 AM #30
Rainmaker
654,934
Bobbie Smith
Stroudsburg, PA
570-242-1891

Paula, Excellent, excellent Post.  So glad you got featured or I would have missed it.  This is definitely the best way to look at things. Thanks!

Mar 04, 2013 07:41 AM #31
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Bobbie: Great! Thank you so much! I am so appreciative of the team there at AR for the gold star!!!

Mar 05, 2013 12:07 AM #32
Rainmaker
257,245
Vanessa Saunders
Global Property Systems Real Estate - White Plains, NY
From Manhattan to the Catskills of New York

I like the whole symphony analogy, very poinient!

Mar 05, 2013 03:10 AM #33
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Vanessa: Thank you! I couldn't resist it because it made so much sense....

Mar 05, 2013 03:15 AM #34
Rainmaker
198,707
Carmela Jacobs
Carmela Realty - Thousand Oaks, CA
Ventura Co., Los Angeles Co., CA, & Global Realtor
Laura,
I agree with you completely, all of these points noted below are very important when building relationships whether it be a business or personal relationship.
  • Build Trust
  • Build a comfort level
  • Be ethical
  • 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, et
     
Mar 12, 2013 03:44 AM #35
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Laura: Thanks--and I see that you have the same idea that I do when you are building your business...

Mar 12, 2013 04:15 AM #36
Rainmaker
1,607,655
Charles Stallions Real Estate Services
Charles Stallions Real Estate Services Inc - Gulf Breeze, FL
Buyers Agent 800-309-3414 Pace and Gulf Breeze,Fl.

Well laid out and right on point, congratulations on the feature

Mar 19, 2013 12:44 PM #37
Rainmaker
500,719
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...A Local Expert in all The Hamptons

Joyce: Thank you!

Mar 20, 2013 02:16 AM #38
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
500,719

Paula Hathaway, REALTOR, LBA

...A Local Expert in all The Hamptons
Ask Me About Luxury Townhouses In Southampton Village
*
*
*
*
Spam prevention

Additional Information