Building Realtor®-to-Realtor® Relationships

Developing close and trusting relationships with other real estate agents can lead to great success in the profession. Building relationships with Realtors® in your area can help you better your business, help you stay relevant, and help you better serve your clients.

Jon Cohen lives and works in Moorestown, and covers territory on the Jersey Shore too. “It’s a different market there,” said Cohen, CEO, Principal, and Realtor® of The Jon Cohen Team at Compass RE. When he knows his client will receive multiple offers, Cohen often refers his clients to agents he has worked with in the past. He uses agents he can trust and that he knows will keep his client’s best interests at heart.

Working Together in a Low Inventory Market The current low inventory market can breed some confrontational and uncooperative behavior from agents, according to Hector Perez, Realtor® with eXp Realty, Montclair.

“Real estate has a lot of moving parts, and it can be very frustrating,” said Perez.

As with any career, there can be tough collegues to work with, but Perez recommends showing kindness and understanding. Sharing ideas can also help you build trust and bond with other Realtors®.

“Many in the industry won’t share because they don’t want others to steal things the way they did it,” said Cohen. “That tends to be the old school beliefs and doesn’t get anybody anywhere.”

Keeping Connections

Staying in contact with the other Realtors ® and getting along with one another are important parts of the transaction process, explains Amy DeBellis, director of training and a broker associate at Prominent Properties Sotheby’s International Realty in Ridgewood.

Those who are hard to work with and only care about the commission, will not earn the respect of other agents. In the future, if there is a choice, agents may choose not to work with them, said DeBellis.

“Without a doubt in this industry, we are going to have great people and not so great people. We are unique in our business philosophy,” said DeBellis. “We are competitivebased, but we are working directly with our competitors and have a direct relationship with them.”

DeBellis reccomends to stay professional no matter how difficult it may be to work with someone. “Unfortunately, some people aren’t as kind or professional. That’s a shame on them,” said DeBellis.

Realtor ® Relationships Lead to Referrals

With limitied inventory across the state, Realtors ® are doing the best they can with what is available. Buyers are broadening their desired locations, and according to Cohen, choosing to work with Realtors ® who know the area better is typical.

Now more than ever, it’s vital to stay up-to-date with current market conditions and become the neighborhood expert. This will help you gain potential clients while also earning the trust of other agents.

While many referral can come from past clients, according to Perez, five out of 10 of the referrals his team receives come from other agents.

“We have a workplace group for eXp Realty with 65,000 agents in 50 states. There are dozens and dozens of referrals,” said Perez. “If we have a great relationship with that other agent, you usually end up working with them often.”

Do you want to boost your referrals? Try getting involved in your local community. Not only will you meet other local Realtors ® , but you’ll meet other potential clients too.

Building Relationships at Conferences

Conferences and conventions are great places to finish your continuing education credits, and networking with other industry professionals. If you’re on the more introverted side, consider attending bigger conventions with a collegue so you can meet and network with others together.

“To me, meeting people at conventions eventually turns into relationships and transactions. But for those who might be more introverted, they don’t do as well in that arena,” said DeBellis. “They go to dinner with an intimate group of friends. Breaking into groups is a great way for them to brainstorm and that cements relationships.”

Perez enjoys attending conventions because it’s a break from the everyday routine. It’s an opportunity to create future referrals and gather new insight into what others are doing.

“You learn through conversations how others are handling their business,” said Perez.

Rely on your best manners and etiquette and stay open to new ideas, and you’ll get the most out of any conference or convention.

How to Strengthen Relationships with Other Agents

• Accountability. When you’re trying to buildtrust, keep agents on the other side of the transactioninformed of any concerns or changes so nothing festersto something bigger. Perez tells his clients and agents“the best surprise is no surprise.”

• Respect. “In reality, you don’t have to love everybodyyou work with, but you have to respect them,” saidDeBellis. “If we just respect each other, there wouldn’tbe an issue.”

• Work together. No matter how many years you’vebeen in the industry, “work through whatever comes upwith the other agent. Never blame or point the finger tothe other agent,” said Cohen.

• Help new Realtors ® . Whether they work at youroffice, or on the other side of the transaction, providethem value because it’s likely “you will be workingtogether in the future,” said Perez.