Many of you already know, developing relationships in business is key. But have you considered the benefits of creating a close relationship with local realtors? I spoke with Tommy Sibiga, a realtor in Richmond, Virginia, who works closely with an estate sale company in his area. This relationship has helped Tommy and the company gain many leads while providing relief for the client in need. If you aren't sure where to start with building this connection, read on to learn a few helpful tips Tommy shared with us.
How do you get started?
Realtors often find situations where they meet with a client who needs to have an estate sale before selling the home. In addition, estate sale companies have clients who need to sell their houses after the estate sale. Thus, a perfect opportunity for a relationship is in the making. A partnership between a realtor and an estate sale company can create more leads for both parties and make the process of liquidating and selling the home smoother for the client.
Starting a relationship can sometimes be as simple as asking your client the right questions. First, ask your client if they are looking to sell their home. If they are and are unsure where to start, share that lead with a realtor in your area. Tommy mentioned that they're so used to being asked for referrals that it's nice when someone brings one to them. The estate sale company Tommy works with is excellent about asking their client if they have a realtor in mind for selling the house. He says this has generated quite a few leads for him. In turn, he has provided estate sale leads to the estate sale company.
Tommy also suggests a few other ways to get your foot in the door with local realtors. Much like in the dating world, a lot of great relationships start with food! Real estate offices usually have a monthly sales meeting. Get in touch with the office sales manager and offer to sponsor breakfast or lunch for the monthly meeting. You could also provide raffle prizes as giveaways during the session. If you're lucky, they might offer you the opportunity to give a presentation during the meeting to show what your company is all about.
Joining local business-to-business networking groups like BNI, Two Twelve, and your local Chamber of Commerce is another excellent way to get to know some of the realtors in your area. The idea is to find ways to build a strong foundation for a lasting relationship.
How do you sustain the relationship?
Don't spread yourself too thin. While Tommy has developed a strong relationship with just one company, you might find yourself wanting to work with multiple realtors to generate more leads. His one caution is realtors know the companies who tend to "spread the bread crumbs around," so be careful because they like loyal one-on-one relationships. Getting to know what kind of leads realtors can make the most of and consistency is essential to maintaining the relationship.
Tommy formed a relationship with an estate sale company owner when the owner was buying a house. Over the years, the estate sale company would send him leads, and he would return the favor by sending estate sale leads.
While starting a relationship with a local realtor may seem like a daunting task, putting yourself out there, making the right connections, and networking can pay off if you're willing to put in the work. Over the next several weeks, we will take a deep dive into developing relationships with industry professionals outside the estate sale world. Next time, we will take a look at the benefits of getting to know property investors. Happy selling!