Real Estate is About Relationships Not Just Lead Generation

invest_in_business_relationshipsToday I want to share an article with you by Sunny Lake for Inman Select.  It’s a beautifully written piece emphasizing the importance of forming relationships as a real estate agent instead of only seeking anonymous leads from the web.

At IXACT Contact we often discuss the importance of building relationships, establishing your Sphere of Influence and staying in touch with your past clients.  Repeat and referral business are so valuable and achieved through what? You guessed it: relationships.

Here’s what Sunny writes on the subject:

Real estate is a relationship business. It’s one of the first things I learned about real estate (because it’s not a secret or a mystery). People want to work with an agent they know, like and trust. So why on earth would you spend so much time, money and energy on random leads?

We aren’t here to talk people into buying or selling a home. Real estate is not an impulse buy. We’re selling homes and the life that happens there.

Want a prosperous and fulfilling career in real estate?! Build relationships. Add value. Release mediocrity. Tell the truth. Honor your commitments. Be a trusted adviser. Show up and do the work.

IXACT Contact Tip: When you have a lot of things on the go, it can be difficult to stay on top of every task. Use your real estate CRM to remind you of tasks and keep you organized.

One of my favorite daily activities is to connect people. The management side of real estate is no different than sales in this respect. When you introduce people who can help each other, you build stronger relationships with both parties. You enrich their lives, and you show that you’re paying attention and that you care. The small act of providing a trusted referral takes your relationship to another level — it helps solve a problem, and it adds significant value. Plus, it doesn’t cost you a thing.

IXACT Contact TipBuild a Business Directory of trusted professionals that you can refer to your clients. Reputable contractor, landscaper, and decorator referrals will be appreciated by your clients and the professionals alike! 

I’d like for everyone to commit to greatness. I know that isn’t going to happen, so let’s just start with you. Instead of going through the motions — making cold calls to people who don’t know you or don’t want to talk to you, doing just enough to get by (like wearing only 15 pieces of flare), waiting for things to be handed to you instead of creating opportunities — do something extraordinary today. Then do something extraordinary tomorrow. Then repeat that, every day.

When you work and create at a high level, people will be drawn to you. They’ll connect with you and shout your praises from the rooftops. Want real lead generation?! Make clients happy. They’ll be the best lead generators you could ever imagine. They’ll tell their friends and co-workers. They’ll post about you on social media. They’ll write a positive review on Yelp.

Routine and discipline will boost every aspect of your life — including your sales business. My challenge to you is to turn your routine on its head. Take the time you’ve been using for cold-calling and spend it on talking to people you already know. Check in with your past clients. Take a prospective referral source to coffee. Send some notes to let people know you’re thinking about them — congratulations on your promotion; I saw your son’s soccer team won the championship; happy anniversary. There are hundreds of reasons to reach out, and you just need to pick one. Spending two hours a day on these activities will generate more long-term business than just about anything else.

IXACT Contact TipUse your Real Estate CRM to remind you of past client’s Birthdays and home anniversaries. Reaching out and offering your congratulations is a natural and throughtful way to build your relationship.

Sunny Lake has served the Bellingham real estate community for the past 10 years in a variety of roles; she’s currently the sales manager of Coldwell Banker Bain, where she wrangles the 60 real estate agents.