The Importance of Relationships & Networking in Real Estate

Any experienced real estate agent will tell you that their relationships are a big part of their success in the industry. Word of mouth, referrals, and business partnerships can fuel an agent’s business and carry them a long way in this market. But in order to get these aspects of your business working for you, you need to focus on building and establishing various types of relationships first.  

The Types of Relationships You Need as an Agent  

Your personal relationships can lead to a number of referrals for your business. Your friends and family may naturally come to you when buying or selling their homes, and they may also pass your name along to others in need of a Realtor. These types of relationships are naturally formed and do not require extra work.  

Your relationships with former clients can also lead to more referrals for your business, assuming these relationships are in good standing. When your client is happy with the job you did, they are more likely to recommend you to their friends, family, or neighbors. These referrals can lead to a great pipeline of leads for your business that could help you for several years down the road.  

Outside of your personal relationships and relationships with past clients, there are business relationships with others in the field. Business relationships can connect you with other professionals in the real estate industry and could help your business in various ways. These relationships often follow an “I’ll scratch your back if you scratch mine” mentality and can streamline your business processes or help you get more leads. Either way, these types of relationships can significantly help your business, but they don’t just pop up overnight. They often require the most time and effort of the three to nurture and build.  

Why Networking is the Key to Long-term Success 

If you are newer to the real estate industry, you likely have a long way to go before you solidify your relationships and get them working for your business. With the low housing inventory and the large number of agents all vying for the same listings, having these business relationships to fall back on could also be what keeps your business going during the current market. And networking is one of the best ways to start growing these relationships.  

If you want to be successful, you need to be willing to get out there and get networking. Networking can connect you with various experts in the industry who have different specialties such as general contractors, brokers, stagers, and more. All these relationships can help you provide a more turnkey service for your clients as well as get you more referrals.  

With networking events, you also have the opportunity to connect with other real estate agents. Connecting with top real estate agents in your area can be a great way to gain insight into what they are doing that is working, especially if you are more of a novice agent. If another agent does not have the same niche as you, you may even be able to connect for referrals.

A Short Cut?

Building and strengthening relationships with tradespeople can take time, but you may not have a lot of time to waste. At Curbio, our team of trusted and reliable tradespeople is ready to help. Instead of spending years nailing down a reliable general contractor, you can rest easy knowing that all our tradespeople are licensed, vetted, and insured.