By Bill Johnston
 
In the first three parts of this series, (Part 1 here, Part 2 here, and Part 3 here) we noted that the real estate professional’s success hinges on building long-term, mutually beneficial relationships with clients, colleagues and sub-trades. Let’s take a look at our relationships with some other key organizations and individuals.
 
Bankers and mortgage brokers:  Financing is an issue with most real estate sales. Our goal is to ensure that our clients get the best available financing, and the interest rate is not the only issue of concern. Our clients need proper advice on other issues, including extra fees, early discharge penalties, pre-payment privileges and portability in the event that the client wants to relocate prior to the expiry of the mortgage term.

While virtually all clients have a business relationship with a financial institution, I encourage mine to shop around for the best financing they can find. By doing so, they can save tens of thousands of dollars in payments over the term of the mortgage. I have a couple of excellent mortgage brokers that I can recommend to my clients, and I do not accept referral fees from them.
 
Local boards, provincial and national organizations: Organized real estate benefits its members in ways that go far beyond provision and maintenance of MLS systems. Our local boards, in conjunction with provincial and national bodies, benefit us in many other ways. They:
* Establish standards for licensing/registration.
* Provide continuing education programs.
* Lobby the various levels of government on property rights and Realtor issues.
* Provide and enforce codes of ethics.
* Organize trade shows, conferences and social events for members.
* Enhance the profession’s profile through advertising, press releases and community involvement.
* Give members the opportunity to be heard through voting, joining committees and task forces, and running for office at the local, provincial or national levels.

By taking an active interest in our associations, we help ensure that our profession remains strong and innovative. By doing so, we help to maintain our role as the general contractor in the real estate transaction, and are able to continue to provide the best service to buyers and sellers of real estate.
  
Assistants and staff:  Without our office staff, we would be in big trouble! They handle our calls, process our listings, prepare our offers, co-ordinate our deal files, and do all of the other things necessary to ensure that we can focus on what we do best.

Our staff and assistants are no different than anyone else. They like to be appreciated. Demonstrate your appreciation by doing a few simple things:
* Remember their names.
* Say “please” and “thank you” at every opportunity.
* Give clear instructions, preferably in writing (legible).
* Remember them on special occasions (birthdays, holidays, secretary’s day).
* Reward them for excellent performance.
* Remember that you aren’t the only one who needs their help.
* Encourage them to go the extra mile by offering a compensation plan that is at least partly performance-based.

Happy staff who feel appreciated will provide excellent service, and they will stay with you instead of looking for greener pastures elsewhere. Losing good staff through neglect is detrimental to the whole office.
 
Appraisers: Property appraisals performed by qualified appraisers are often required for financing, estate planning, divorce settlements, asset division and other purposes. In some cases, formal appraisals are required to establish an asking price for properties listed with real estate professionals. For example, some relocation companies require appraisals, as do executors of estates, trustees in bankruptcy and court officers, prior to disposing of property.

While real estate professionals are qualified to provide current market valuations, which often are based upon the same information that appraisers use, we are not entitled to attach the word “appraisal” to our work. Co-operating with appraisers is in everyone’s best interests.
 
Surveyors and title insurers: An up-to-date survey is always a valuable item, because it sets out the exact boundaries of the property. As well, any encroachments, rights-of-way, easements or other physical issues that may affect the value and/or the owner’s use and enjoyment of the property are disclosed. Furthermore, the exact locations of all structures on the property are shown, enabling interested parties to ensure that by-laws pertaining to setback and side lot clearances have been adhered to.

Title insurance is accepted by most financial institutions in my trading area in lieu of a survey. Given that title insurance generally is far cheaper than a survey, many buyers opt for the insurance and forget about getting a survey. Before allowing your buyers to make that decision, make sure they understand the limitations of an insurance policy relative to the survey. Insurance covers the policy holder for certain losses covered by the policy if they occur, but the survey tells the buyer what he is actually getting. 
 
Property managers, security staff and others: We require the co-operation of property managers and security staff when we are involved with condominium properties, gated communities and multi-unit rental properties. Property insurers, movers, handymen, family lawyers and others will be important to our business lives from time to time as well. Do your best to build long-term win-win relationships with top notch people in those service sectors too.
 
Family: The year 1991 was bad for real estate in my trading area. We were in the third year of a seven-year market slump, and deals were hard to come by. At the time I had a wife and two little boys, ages two and one. We planned to visit my wife’s parents in Florida with the little boys in February, and had purchased the airline tickets.

As it happened, I was in the middle of a deal when the time came for us to head south. I didn’t go. I felt that it was more important to do the deal than to spend a week with my little family and the in-laws (who I really liked!). The deal got done, and I had a lonely week at home while my family enjoyed the trip without me.

I am no longer married. Relationships are living things, and like all living things they require care and feeding, without which they wither and die. Luckily, I haven’t been as foolish with my children, and I get to have them 50 per cent of the time. I rarely miss their sports games and other significant events in their lives, and I make them my main priority, out of love.

If you have a family and you want to keep them, make them your main priority. Demonstrate your caring through action, not just words. Thoreau said that, far too often, we trade our precious time for “shoestrings”. Better to spend it enjoying life with those who mean more to you than any material thing. 
          
Bill Johnston obtained his M.A. in psychology from the University of British Columbia in 1976, graduated from Osgoode Hall Law School in 1980, and was called to the Ontario Bar in 1982. He entered the real estate brokerage business in 1982. He has won many sales awards and has served several terms on the Board of Directors at the Toronto Real Estate Board. He is a broker at Royal LePage Your Community Realty in Thornhill, Ont. Email [email protected]