[quote_box_center]“Personal relationships are the fertile soil from which all advancement, all success, all achievement in real life grows.” – Ben Stein[/quote_box_center]
Why a career in the real estate business? Was it the siren song of big bucks sung by someone in the industry? Perhaps it was the allure of personal independence, of being essentially self-employed or the flexible hours?
Maybe the ticket was spontaneous vacations or long weekends. Or were you inspired to help people bring their home ownership dreams to reality because you love people? Good motivations all, from opportunistic to idealistic.
Without a doubt, though, this business is definitely about people. As a matter of fact, unlike many who mistakenly think of it as a realty selling business, it’s really a business rooted in human relationships. Often, it’s more about who you know than what you know. Hence, the more people skills you possess, the more likely you’ll enjoy a long and rewarding career.
I’ve always felt that the secret to success in this often misunderstood business is to build as many sincere relationships as possible. To do this, you have to actually leave your chair. Get busy meeting people. Prospecting for leads doesn’t have to be laborious. It can be interesting and entertaining, fun and maybe even educational. Use your imagination. Put your heart into it. Without an eidetic memory, there’s no way you can cope with the myriad details of a growing group. So, enter the contact information of every likable person you meet into your contact management program for (permitted) periodic contact.
[quote_box_center]“These are days when no one should rely unduly on his competence. Strength lies in improvisation. All the decisive blows are struck left-handed.” — Walter Benjamin[/quote_box_center]
Generating leads by spending big bucks can indisputably be effective, but here’s the problem – it’s expensive and becoming ever more so. Revenue is certainly important, but unless you thrive on fame, it’s your net income that really counts. If you want to build a business without spending a lot of money, learn to improvise. Your ultimate goal is to build a referral business. The foundation on which a smart realty practice is built is not just competency in your trade, but repeat clients and referrals. People need people. So, get out there in the field where your charm and wit can win valuable connections – and business. When opportunity knocks, improvise.
[quote_box_center]“In sales, a referral is the key to the door of resistance.” – Bo Bennett[/quote_box_center]
In my view, the absolute best strategy for building a solid and sustainable practice is to build a network of people who refer to you as their friend in the business. It’s called networking.
Building a referral base can be a whole lot easier, considerably less expensive and probably more enjoyable. It certainly takes time to kindle trust relationships and foster a solid reputation of integrity and dependability. But the long term rewards, with less worry and frustration about the source of your next commission, are well worth the effort.
In an industry where a majority abandon the business within their first few years, those who survive this crucial period have likely mastered the process, at least to the point of being moderately successful. Your business volume may build slowly, but it will build on a strong base. Even if you don’t have a lot of money to spend on marketing, there’s nothing to prevent you from building personal relationships. This methodology contributed to a highly successful four-decade career for me. And it can for you too.
[quote_box_center]“Empty pockets never held anyone back. Only empty heads and empty hearts can do that.” — Norman Vincent Peale[/quote_box_center]
Ross Wilson is a retired real estate broker with extensive experience as a brokerage owner, manager, trainer and mentor over a highly successful 44-year career. His book, The Happy Agent – Finding Harmony with a Thriving Realty Career and an Enriched Personal Life is available where print and e-books are sold, including the TREB, MREB, RAHB and OMDREB stores. Visit Realty-Voice.com.
