It’s always a crazy time in real estate from the realtor side of things! It’s just the nature of the business but as things progress and new changes are brought to the market, I think it’s more important than ever that realtors support each other. I know, it’s been a cut-throat industry where everyone has been out for themselves and trying to feed their families for years, but I believe there’s a far better solution out there that benefits us all.
In my years in real estate, even as the new kid in mentoring I got to see the positive effect that realtors working together can have on not only themselves and their business but the benefits to their clients as well. As one inevitably does more deals you get a taste for what certain realtors are like and their general client database. Even the veterans on the cutthroat side of things still need those people they can turn to with questions or advice (it’s just a much shorter list of people they can go to and they strongly question the answers they get afterwards). I’m of the opinion that this industry and all of the realtors in it will do better working together than we ever will apart.
Now I’m sure there’s a ton of you who are now seriously questioning my train of thought on this one. You’re probably thinking Sarah, how the heck is it an advantage for me to befriend the person I’m going head to head on a listing with? Or, if that person’s buyer is looking at the same property as my client surely no good can come of that. Hear me out!
From a buying perspective there are huge advantages in having positive relationships with other realtors. Even if you have clients looking at similar properties, there’s an advantage to know and share the information if you know the person has a buyer in a similar style and price range but a particular home that’s great just isn’t the right fit for your clients. Let the other realtor know! You may be able to save them (and their clients) a trip to a bunch of homes by helping narrow it down and that favour can be returned to you one day. Who doesn’t love saving hours of work and looking like a Rockstar to their clients?! It looks like a benefit to all sides if you ask me.
Or, picture this, you’re in a multiple offer situation with your clients on the buying side. You know the listing realtor and have worked with them before, it was a smooth deal where both parties were happy. What if now that listing realtor has 2 offers where they don’t know the other realtor from a hole in the wall vs. you on the other end. If the offers are similar, wouldn’t you rather deal with the realtor you know and trust? I’ve even had it where my clients win out on offers that were WELL below the other one because of this. If that realtor has doubts about having a home inspection done by someone reliable or a deposit actually coming in but can trust that you generally deal with good people and are good to your word. Their clients trust their realtor and that realtor trusts you, that’s a huge advantage. That peace of mind from a selling standpoint can be beneficial to everyone.
As a listing realtor the same thing applies but can also be seen from a different light. You’ve got a listing (congratulations!) that you have to sell and there are other comparable homes on the market. I’m sure we’d all rather deal with the realtor we know is reasonable and honest than one we don’t trust or feel we constantly have to be 10 steps ahead so we can keep a deal alive (or constantly wonder what shady things may be happening that we have to constantly be vigilant about). I have even seen it where amazing realtors will stretch clients’ viewpoints on options just to see if it’s a possible good fit because they know it’s a trustworthy realtor and those clients are going to be decent people vs. settling for something else and never expanding their horizons. Some clients are pleasantly surprised to find that the new option they’ve been shown is actually a much better fit for them. If it’s a deal that gets done where both parties are happy, does it really matter how it came about?
I’ve built up a good chunk of my business by working together with other great realtors and I was able to build up my database complimenting another realtor and his client database. It has some major advantages when you can trust others. Inevitably there will come a time when a client pulls the wool over your eyes at some point. That working relationship you’ve built up with that realtor can have a massive impact and have the ability to still pull deals together that otherwise would have fallen apart or part ways when necessary by being honest and respectful with each other.
I’m pretty sure getting more deals done in general, with happy clients on both sides, to not only benefit ourselves but help make the industry better is a win for all. Instead of competing against each other, why not compete to make this industry the best it can be? Let’s all work on eliminating the for sale by owner’s instead (more deals for all!) and show them why it’s better on the other side dealing with professionals.