Every successful agent knows that relationships are the key to a great real estate business. Referrals are the biggest difference between the top agents and everyone else, and those referrals come from a much wider range of local influencers than you might think.
If you wanted to work on increasing your number of incoming referrals, you might think to start by developing relationships with local mortgage lenders, but that is just the tip of the iceberg. Here are five other strategic partners that you might be overlooking in your community.
Just as your local mortgage lender is targeting the same potential clients that you are, there is also going to be a lot of similarities in the customers that your local insurance agent is working with. This is especially true if the agent deals in homeowner's insurance.
But no matter what type of insurance they specialize in, your local agent is going to be out pounding the pavement just as hard as you are. Going out of your way to create a symbiotic relationship with someone like that could pay dividends for many years to come.
Speaking of paying dividends, your financial advisor is another local influencer who could connect you with a large number of potential clients. This is another profession that is built on referrals, so your local financial advisor will definitely understand just how important their recommendation can be to your business.
In addition to asking your own financial advisor to recommend you to potential clients, you could also meet with other advisors to discuss the wide range of opportunities you might have to establish and grow a mutually beneficial relationship.
Most of the strategic partners we are talking about understand the necessity to get out in the field to meet potential clients. But people who work in your local restaurants don't have to worry about that, because the people you are targeting show up at their door each and every day.
If you can strike up a friendship with a great bartender or the general manager of a popular local eatery, you can be sure that they are going to overhear customers talking about real estate at some point in the future. And if you have established a good relationship, you can also be sure that they will drop your name.
Doctors, Dentists, and Chiropractors
Doctors, dentists, and chiropractors all fall into the similar category of a professional that interacts with a number of patients on a daily basis. They also tend to make small talk with those patients as a part of their job, so you definitely want to be sure that they mention you when the subject of real estate comes up.
The easiest way to make sure that your doctor, dentist, and chiropractor all recommend you to their clients is to make sure that they know as much as possible about who you are and what you do. In addition to that, do your best to send business their way and they will be much more likely to reciprocate.
Another profession that can make for a fantastic strategic partner is your local advertising salesperson. These people are constantly out trying to drum up business, which means that they are always out in the community interacting with what could be your potential clients.
While you might not see a huge return on any amount you spend to purchase the advertising they are selling, creating a working relationship with your local ad sellers could be well worth that price in terms of the referral business they send your way just because you are their client.
The real estate business is all about getting out in the field and making connections. However, if you are able to mobilize other local professionals to seek out those connections on your behalf, you are going to exponentially increase the power of your network. Start working on developing your own strategic partners and you won't believe how fast your business grows!