In my 8 months now living and working in the Northern Virginia/Washington DC Real Estate market helping Realtors and Lenders with their Real Estate marketing on behalf of Stewart Title, I have found one stark difference on how people conduct business as it pertains to transactions. That one difference I see the most is called the “preferred relationship.” What this means is that many Real Estate and even mortgage companies have a preferred relationship that is either “in house” or an agreement with a company that business will be sent their way. Not only is this strange in my opinion because now someone is “expecting” your business instead of “earning” it, but it hinders the Realtor’s ability to find a real relationship based on helping them grow their Real Estate business. This can lead to poor service and a multitude of other things that is not allowing you the proper support you need as a Real Estate or Mortgage Professional…and ultimately ends up costing you business! There are several other reasons why this one thing that could be hurting your Real Estate Business. Here is why:
As in all of the blogs that I write with my ideal client in mind (YOU) I get most of my material from the Real Estate agents and Mortgage Lenders that I meet and interact with on a daily basis. Sometimes when I have some free time (what is that??) I call cross sales. If you don’t know what that is, that is the Northern Virginia Real Estate Agent that is on the other side of the transaction that we are closing…that is NOT our client…yet. I call these agents blind and thank them for allowing us to close the transaction, see how it went, and then talk to them about their Real Estate business/marketing and see where I can help and then set an appointment. I had a good conversation with an agent the other day so I thought I would put in a blog. Mind you, the conversation I’m about to share with you is being paraphrased but you will get the point.