IS YOUR PACK TRULY DOZEN-WORTHY?

BY CHAD MORRIS, STAFF WRITER

A lone wolf entrepreneur grinding to the top makes for an entertaining screenplay, but success rarely happens in a vacuum. As with wolves, REALTORS® work better in a pack. After all, real estate is a business of relationships. So, who belongs to your pack? Your broker, fellow agents, and the leadership at EXIT Realty do of course, as well as any connections from real estate associations to which you belong. But who else? If you ask EXIT Realty CEO, Tami Bonnell, she’d say you’re forgetting one essential group: your Dirty Dozen. A Dirty Dozen is a group of twelve or so professionals from within your sphere of influence (SOI) who work on the business of real estate but not in it. These are very valuable connections to maintain because they have a wide range of industry ties and can offer a perspective beyond that of someone licensed to sell real estate. Not only that, having a well-rounded Dozen helps you create an exceptional, full-service experience for your clients. But a Dirty Dozen doesn’t just materialize from thin air — these are relationships you need to build and maintain.

Building a Dirty Dozen is an excellent step towards establishing yourself as an industry expert. Having that trusted group of advisors helps accelerate your learning, bridge new connections, and create opportunities. It’s about serving clients better and thinking like a consultant to create opportunities like first-time home buyer, climate change, or retirement seminars that bring everyone together, whereby you’re adding value to your Dozen, your consumers and the community. Surround yourself with experts and remember, “a rising tide lifts all boats.” So, let’s dive into who might belong to your Dirty Dozen and what differentiates a dime-a-dozen professional from the Dozen-worthy.

A Dirty Dozen is a group of twelve or so professionals from within your sphere of influence who work on the business of real estate but not in it. These are very valuable connections to maintain because they have a wide range of industry ties and can offer a perspective beyond that of someone licensed to sell real estate.

MORTGAGE REPRESENTATIVES Your clients aren’t typically buying a home outright with cash, so they’ll need to secure financing through a lender. Enter the mortgage representative. A Dozen-worthy mortgage representative gets knee deep in a clients’ finances and longterm goals to match them to a suitable product. They’re well connected with lenders, appraisers, and other relevant professionals whom you may consider for your Dozen, and as such can provide useful financial market condition, trends, and forecasts information. You may even choose to form relationships directly with lenders to add variety to your Dozen.

INSURANCE REPRESENTATIVES Nothing is guaranteed in life except death and taxes…and perhaps insurance. An insurance representative works with insurance companies to secure competitive rates on services such as homeowners’ insurance and life insurance.. They too should align their expertise with a clients’ unique situation to find the most applicable product. A Dozen-worthy professional has strong interpersonal skills, can articulate the intricacies of complex policies, and provide valuable insight for unique situations where real estate is purchased as a property rental, a flip, or to convert into a business.

LAWYERS/TITLE REPRESENTATIVES Real estate attorneys are often brought in towards the end of the home buying process to prepare and review all the necessary legal paperwork, and one is required at closing in many states and provinces. First and foremost, a Dozenworthy pro should specialize in real estate (not your in-law who’s a family lawyer with a knack for real estate), with years of experience and a proven track record. Legislation can vary from city to city, so you’re better off with a local talent with a deep understanding of regulations and restrictions in the area. It’s also beneficial to include a few at varying price points to accommodate various budgets. They offer a good perspective on complex transactions, such as short sales, foreclosures, investment properties, or in cases of contractual issues or disputes, and can build your familiarity with legalese.

HOME APPRAISERS Lenders want congruency between the value of a home and its corresponding mortgage loan, and so a home appraiser is brought in to give their objective assessment. With that information, the lender can decide whether the contract price is fair. Dozen-worthy appraisers have comprehensive market knowledge and a sharp eye for what adds or detracts value from a home. They can provide tips on what home trends or renovations influence its value, as well as the kinds of red flags a seller ought to correct prior to evaluation. They can also offer insights into local market trends, average home statistics, fair market values, and comparable data in your market area.

HOME BUILDERS With growing consumer demand for new- and pre-construction homes, having reputable builders within your network can be a beneficial addition. Your Dozen-worthy builders set clear expectations and have stable timelines, They may also be able to connect you with other Dozen-worthy professionals, such as lenders who specialize in new developments or members of your city’s planning and development board. These individuals provide great tips on new home building trends, understanding building codes and their changes as well as insight into warranties.

PLANNING BOARD OR MUNICIPALITY If you’re interested in the pulse of government policy and its influence on real estate, look no further than your local planning board or municipal office. These connections are almost always Dozen-worthy and reinforce your credibility and authority as an agent. Professionals within these groups can provide deeper knowledge of a market area and are a source of information regarding future community growth, zoning and governance, as well as laws that effect real estate.

MOVERS A negative moving experience can taint an otherwise positive real estate transaction, but it doesn’t have to when you have the right connections. The business owners you want in your Dozen own moving companies with glowing reviews, established track records, good customer service, and competitive and transparent pricing. It’s also prudent to have options for both residential and commercial business moves. You can ascertain unique and valuable migration chart data as well as trends toward popular, growth markets by having reputable movers in your Dozen.

Come across a Dozen-worthy professional in the field?

- Start with research to find common ground before contacting

- Find out their goals for the year ahead and ask if you can help

- Follow up every 4-6 weeks to exchange ideas and feedback

So, what do you do if you come across a Dozen-worthy professional in the field? Tami recommends starting with a bit of research to find common ground, then making contact to express your respect for their work. As what their goals are for the year ahead and if you can help, whether it’s resources you can offer or connections you can make on their behalf. Do you see ways they could work smarter that you could tactfully suggest, or is there a book you might recommend? Offering unconditional value up front is the surest way to kick off a new relationship. EXIT Realty has always emphasized the human dimension of real estate, and your Dirty Dozen is a network of relationships. It’s about more than just a transactional connection. As Tami always says, “People want to matter,” so develop these into a personal dimension as well. When it’s clear you’ve invested in another as a whole person — not just someone who is of value to your network — that’s when you have something truly special.

Building a Dirty Dozen is an excellent step towards establishing yourself as an industry expert. Having a trusted group of advisors helps accelerate your learning, bridge new connections, and create opportunities.