3 Key Pieces to a Professional Relationship in Real Estate

Building your business includes building relationships. Without networking properly, staying connected, and treating others with respect, relationships will not be possible. In this business you need connections with realtors, lawyers, accountants, contractors, title companies, and more. You can’t do anything alone in this business, especially if you want to have a sustainable business. Could you imagine if you could? I know I like my 6 hour nightly naps, if I took on the added tasks, I may only get 3 hours a night!

But seriously, there are three main pieces to the relationship puzzle. These include networking with professionals, staying connected, and treating everyone in your chain with the utmost respect.

Networking with Professionals

You are who you associate with, and you are defined by the company you keep. If you want to be connected to the best of the best in a given field, you need to seek them out. A few great places to find these resources are at local Real Estate Investing group meetups and conferences. As well as the local Chamber of Commerce. Being involved in your local community organizations or other professional organizations will also yield positive results.

Bottom line is that simply picking up the phone book and picking the third number on the list of accountants in your zip code likely won’t get you a solid and reputable advisor. It could, don’t get me wrong, but if you are seeking someone that will be a great connection, and help you build additional network of professionals, you need to get out there and be a part of your local community. As others learn of you, and your business, and you speak to the need of legal representation, or best title company for investors, or contractors with the best results and satisfaction rates, names will be thrown at you.

The best thing to do is to take those names, and set up quick appointments. Try to meet in neutral locations like for morning coffee, a quick lunch, or maybe an afternoon drop by at their office. Try to find places close to their office to make it most convenient (even if they say they will meet you wherever). These meetings become great opportunities to mind for more people to fill out your team of trusted advisors and professionals.

Staying Connected

We know how busy we can be on a week-to-week or day-to-day basis. Your advisors and trusted professional connections have just as busy schedules maintaining their own businesses. So don’t expect that you can call any time and be able to chat for 45 minutes about the weather and local sports teams. However, take time out of your schedule to dedicate to connecting with your database of professionals, especially those that are closest to you, or are actively a part of your business.

And by this, I don’t mean that you should count calling your plumbing to schedule an auguring of your sewer line at your property. I mean dedicate time to email or call to catch up, and possibly see if there is anything new going on with their business. Be interested in their business, not their connection to yours. That will come naturally. If you can’t connect with them by phone, or if it seems like a weekly chat is a little overkill, especially for secondary professionals on your list (those on deck in case the others can’t be there for you), send a quick and written card. Tell them thank you for their last job with you, or thank them for introducing you to that referral homeowner needing to sell their distressed property last month. It can be anything, but make it something.

Most importantly, say in genuine terms, “Thank You”. Be appreciative of them being connected to you, for work they have done, and for the resource they are for your business.

Treat All With Utmost Respect

We get what we give. Simple. If we want to have trusting and mutually beneficial professional relationships, we must treat everyone with respect, and due to honestly and with a sense of loyalty. They have helped you and your business. If you expect other professionals to treat you fairly and with respect and trust, you must project that to them as well. Every relationship requires a give and take. If you are giving respect you will find it coming right back to you.

Be honest and respectful, but be firm. It is not good to think that you need to be the happy-go-lucky chap who people know can be walked upon. If you find that in your dealings, and your adhering to key number two (staying connected), that a professional is not at the level of professionalism, respect, and honesty you seek, it is time to move on. Go back to step one. Network, ask questions of others, and find a new connection. It goes without saying that you will find yourself associated with those that are at your same level. It is up to you as with whom you do business.

Conclusion

It is no secret that businesses fail on a regular basis and for a variety of reasons. Having proper relationships, though not the only path to success in our business, is an important item to maintain. What you put into your relationship building will put you on either the ultimate path for success and 6-figure incomes, or will drag you down, and leave you battered and bruised. Stick to these three basic keys for success, and you will be great!