While there are a number of factors driving the real estate market, one is incredibly important to the success of every professional: Relationships. Without a solid network of past, present and future clients, as well as colleagues and other experts, it will be much harder to grow in this industry.
In fact, building solid relationships is often the best way to generate real estate leads that will last for a long time. Agents who decide to focus on this aspect instead of traditional lead generation often find that their connections are more sustainable and rewarding - there will be a shorter shelf life and less wasted time.
With that in mind, here are a few reasons why relationships are a great way to find new clients, and a couple of tips on how you can get started:
Relationships can get you in the door
So then, why are relationships so important when you are working on lead generation? For starters, reaching out to people in this way is more personal, so you are likely to build longer-lasting connections and receive more value from each person.
In an article for Inman News, Will Caldwell, the CEO and co-founder of Dizzle, wrote that relationships allow you to start talking with potential clients sooner than you would be able to with more common lead generation tactics. For example, you can reach out to young professionals in any industry - they may not be looking for a home now, but down the line they could be interested in multiple properties. This is a long-term strategy. You'll have to be committed to the relationship for a while before the odds of it paying off in a sale go up.
Most importantly, relationships will gain you knowledge. Caldwell explained that agents who stay connected with more people learn what prospective homebuyers and sellers want. That information is invaluable - you can know what upcoming trends are and make changes to your business in order to stay ahead.
Professional relationships are a give-and-take affair. You'll need to have a firm understanding of the housing market, and with CRS Data, that is easier than ever before. Access mortgage records, warranty deeds and much more right online. Learn about the CRS Data Real Estate Suite to get ahead in the industry.
How to connect with more people
As a real estate agent, you may be asking how you can start building more relationships in an industry already reliant on these connections. The answer is patience, and you'll first have to get out there and start talking to more people.
According to Realtor Magazine, you must go into it with a mindset that not every relationship will lead to a client. For instance, becoming a friend with the locals will provide value in many areas of your business, but it may not directly lead to sales. Simply get out in public and greet people. They have plenty to offer, whether it be referrals and recommendations or home improvement tips and advice on the housing market. You can use social media or other sites to also build relationships, but either way, expect to use this strategy over a longer period of time.