Relationships Are Everything In Real Estate - What's It Take to Be a Successful Agent These Days?

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Real Estate Broker/Owner with Equity First Realty VA BKR# 0225058489

Relationships Are Everything In Real Estate - What's It Take to Be a Successful Agent These Days? 

Every agent is glued to his cell phone or laptop screen these days. However, it’s important to remember on the other sides of all those electronic devices are real people, and they’re the ones who keep your business going.

Relationships are your bread and butter—and when we say that, we’re not talking the little dinner rolls you fill up on before your dinner arrives.To understand how to maximize your relationships as a real estate agent, start by asking the basic questions: who do you know, and who knows you? The answers will go far in revealing the extent of your sphere of influence, the collection of people for whom you and your business have weight. The greater your sphere of influence, the more of a magnet you become for prospects—and the better your chances of turning them into customers.

The cliché goes that real estate is all about location, location, location. This isn’t just about inventory: it’s about involvement. To maximize your business, you need to participate in your community. Join your local Realtor’s association. Coach a little league team. Attend town government meetings. Get exposure in the flesh, and make sure people know what you do.

By showing you’re interested in the life of your community, you demonstrate that you have a personal stake in all the business you do as a real estate agent. You should also treat everyone you meet with the same courtesy and attention, no matter who they are or what they can do for you—after all, you never know who may become a customer.

Knowing and being known by as many people as possible is crucial, especially when there aren’t a lot of prospects to go around. But while quantity is good, quality is even better. Visibility is great, but if your only goal is to get everyone and anyone on the hook, knowing everybody in town will actually work against you. Your reputation in your community greatly influences your trade. People obviously want to work with agents they trust.

The most sustainable business model is one in which your transactions with others are always mutually beneficial. Real estate, is about making money; but focus too much on your profit margins, and you’ll find you have fewer and fewer customers looking to hand theirs over.

Finally, once you’ve established your relationships, it’s vital to keep them up, whether or not they’re making you money right now. Follow up with recent customers to see how they’re settling in. Distribute an email newsletter to all your clients. Send personalized notes and birthday cards. Use social media and maintain a presence online. If you feel like you haven’t spoken to an old customer in a while, send them an email to ask how they’re doing. The gesture only takes a minute or two, and it can pay huge dividends in the long run.

Each contact you make has a value, and each customer has a lifetime value. Lose contact with your prospects, leads and customers, and you’ll be squandering your greatest asset.

The Marcus Rice Team can be reached at 804-247-8187 or mriceteam@msn.com  

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The Marcus Rice Team 
Equity First Realty 
4860 Cox Road, Suite 200 
Glen Allen, VA 23060

Call The Marcus Rice Team at 804-935-8519 Office or 804-247-8187 Cell
Equity First Realty Broker Site: www.Equity1stRealty.com 
Marcus Rice Team Site: www.RichmondVaHome.com
Equity First Realty Information Site: www.EquityFirstRealty.info
Email: mriceteam@msn.com

The Marcus Rice Team - Exit Elite Realty

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Marcus E. Rice - Principal Broker, CDPE

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Ambassador
4,309,874
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Our business is a relationship business - and it's so easy to grow with the connections we have! Just stay in touch!

Nice post.

May 28, 2014 03:00 PM #1
Ambassador
1,230,648
Melissa Zavala
Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County

I like the way that you explain location, location, location--is not just for buyers and sellers! Thanks for your participation in the contest.

May 28, 2014 11:05 PM #2
Rainer
106,903
Rob Marken
Bend River Realty - Bend, OR
25+ years experience in Bend

Relationships are very important! As I was looking back at the last few months of sales, I noticed that they were from my sphere or referrals from my sphere.  It is so important to create, establish and maintain these relationships.  

May 29, 2014 01:43 AM #3
Rainmaker
430,277
Marcus Rice
Equity First Realty - Richmond, VA
Your Richmond & Petersburg VA Real Estate Broker

Mr. Thakkar thank you for your comments, we all nee to stay in touch.

May 29, 2014 02:57 AM #4
Rainmaker
430,277
Marcus Rice
Equity First Realty - Richmond, VA
Your Richmond & Petersburg VA Real Estate Broker

Melissa location really is important, thank you for allowing me to be a part of your contest.

May 29, 2014 02:58 AM #5
Rainmaker
430,277
Marcus Rice
Equity First Realty - Richmond, VA
Your Richmond & Petersburg VA Real Estate Broker

Rob refferals are important. Thanks for stopping by......

May 29, 2014 02:59 AM #6
Rainer
91,072
Whitney Watson
First Heritage Mortgage - Henrico, VA

There is so much value in what you say. Being involved in the community is not only a great way to give back, but allows others to see your character. 

May 29, 2014 05:38 AM #7
Rainmaker
430,277
Marcus Rice
Equity First Realty - Richmond, VA
Your Richmond & Petersburg VA Real Estate Broker

Whitney Watson, character goes a long way with life long clients to boot. Thank you for your comments.

May 29, 2014 06:47 AM #8
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Your Richmond & Petersburg VA Real Estate Broker
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