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Trust Is the Crucial Capital in Real Estate

By
Real Estate Agent with Dirt Road Real Estate SA676002000

Trust is essential in all relationships. In real estate, trust is the crucial capital. Stephen Covey wrote:

"Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships."

Given so much in real estate is communication, trust happens with that first phone call or contact.  To be able to develop begins my understanding how does one define trust? The Oxford Online Dictionary defines trust as:

“firm belief in the reliability, truth, ability or strength of someone.”

Merrian-Webster adds an additional word to define trust:

“firm belief in the character, ability, strength of truth of someone.”

From Cambridge Dictionary, another perspective is added:

“to believe that someone is good and honest and will not harm you”

Yet if we believe the statistics, polls from home buyers we find a considerable lack of trust:

For example from Clever Real Estate :

  • 54 percent of recent home buyers believe their agent cared more about making a deal than their best interests
  • 29 percent of buyers went unrepresented, and of those, 32 percent did not hire a real estate agent because they don’t trust them.

Another survey by Choice Home Warranty revealed that 67.5% of American don’t trust real estate agents. In the 2022 Gallup Survey regarding honesty within various professions, real estate agents ranked just above attorney and just below bankers. The good news real estate agents ranked above Members of Congress, Telemarketers and Car salespeople.

If we accept the premise people buy from people they know and trust, two questions come to mind:

How does a potential seller or buyer know you?

How does a potential seller or buyer trust you?

As to the first question, blogging on Active Rain is one way to have potential clients come to know you. Another way is through referrals from family and friends.  Testimonials on websites is a third way.

Now to trust you, that maybe a little more difficult. Possibly the easiest and simplest way to open the trust door is to answer the phone, text or email as quickly as possible. Then execute any actions or promised made. 

Also, don't attempt to sell yourself with some canned sales pitch. Be authentic and demonstrate emotional intelligence in all communications. Be knowledgeable about your area of competence.  Do not go outside your area of competence.

And remember the words of President Ronald Reagan who said:

"Trust but verify"

Remember as well, your potential clients have the ability to verify much of what you have communicated.

Leanne M Smith, The Grit and Gratitude Agent Who Goes the Extra Mile Because Life Begins Where the Pavement Ends.

Feature Photo Courtesy of Pixabay.com

Any reproduction of Leanne M Smith’s blog for use by any AI or GAI, distribution or reproduction including but not limited to electronic newsletters e.g. PDF’s Internet sites or physical products e.g. newspapers, CDs without prior written permission and consent by me, Leanne M. Smith (Leanne Hoagland-Smith) is strictly prohibited.

 

Posted by

Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
Connect with me on LinkedIn:
http://www.linkedin.com/in/leannehoaglandsmith
Show All Comments Sort:
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Leanne Smith I like that Leanne who wants canned when they can have fresh . Good post 

Nov 02, 2024 07:02 AM
Leanne Smith

Good morning Hannah Williams and thank you for that perspective.

Nov 02, 2024 07:06 AM
Charles Ross - eXp Realty LLC
eXp Realty LLC Salina Group - Salina, KS
Love To Help People

Leanne M. Smith, your insights on trust as the foundation of real estate are truly inspiring! Trust fuels every meaningful client connection, and your emphasis on integrity sets a powerful example for us all. 🌟 #TrustMatters #StayMotivated #GenuineConnections

Nov 02, 2024 07:18 AM
Leanne Smith

So appreciate you contributing to this ongoing dialogue about the necessity of authentic trust. I agree "Trust fuels every meaningful client connection." Thank you and good morning to you.

Nov 02, 2024 08:13 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Real Estate Broker

Hi Leanne... all good relationships are built on a foundation of trust. Without trust no relationship can grow.

Nov 02, 2024 07:24 AM
Leanne Smith

I wholeheartedly agree with you Nina Hollander, Broker My sense is there are considerable salespeople including real estate agents who fail in developing trust.

Nov 02, 2024 08:10 AM
Nina Hollander, Broker

Leanne Smith and that's why most of them do not have a business built on repeat and referred clients.

Nov 02, 2024 09:35 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Leanne,
Trust is the foundation of any relationship. I am reminded of a quote I used in a recent blog post: "One lie can shatter the trust built from 1,000 truths".

Once trust is gone, it is gone.

Nov 02, 2024 08:07 AM
Leanne Smith

We are of the same mindset. Heck I can't even remember where I left my cell phone in the house or to take off my computer glasses before I leave for an appointment. 

Nov 02, 2024 08:38 AM
Leanne Smith

So true about how one lie can shatter the trust. I remember Mark Twain made a statement about truth and lies. "If you tell the truth, you don't have to remember the lies."

Nov 02, 2024 08:12 AM
Carol Williams

I remember that Twain quote too, Leanne Smith 
I am of the mind that I'm not smart enough to remember who I tell what lie to, so telling the truth seems to be easier.

Nov 02, 2024 08:18 AM
Michael Elliott
Fathom Realty - Burlington Township, NJ
Burlington, New Jersey Residential Sales

Great post, if they do not trust you,  nothing you say makes any difference.  

Nov 02, 2024 08:33 AM
Leanne Smith

True and right on "nothing you say makes any difference." Reminds me of the old quote "the number one rule when in a hole is to stop digging."

Nov 02, 2024 08:37 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Leanne - I believe trust can come with time along with other factors. But we can also "learn" over time (especially when combined with those other factors) that distrust (or similar previously held hunches or observations noticed) can enter the picture.  The journey continues. . .  

Nov 03, 2024 02:54 AM
Leanne Smith

Yes trust does take time to evolve where distrust takes far less time. And the journey does continue.

Nov 03, 2024 07:57 AM
Leanne Smith

We are on the same page. I balance trust with my "gut instinct."  I have learned when I ignore my gut and give people the benefit in which trust is often subconscious, I often regret that second or third chance.

Nov 03, 2024 08:27 AM
Michael Jacobs

Leanne Smith - I can certainly understand that.  For me, I give people "a lot of leeway" at times.  But sometimes, "enough is enough.  Maybe, more than enough".  

Nov 03, 2024 08:25 AM