RISMedia's Real Estate Magazine

SEP 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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RISMedia's REAL ESTATE September 2018 85 The webinar, moderated by Terri Murphy, master coach at Workman Success Systems, featured panel- ists Lee Tessier, team leader of The Lee Tessier Team at Tessier Real Es- tate; Mark Ryan, broker of RE/MAX Victory and leader of the Mark Ryan Group; Tim Rabara, sales manager with Homes.com; and Jo Garner, a loan officer and host of the Jo Gar- ner Radio Show. "It's all about relationships, be- ing committed, getting a plan of action and making things happen," said Ryan. Panelists unanimously agreed: It takes work. Getting in touch with these vendors is the first step. "If you're brand-new, go to your local association events and start having conversations to see where you're most comfortable. In the be- ginning, it's going to be like speed dating, but then you build relation- ships from there," said Tessier. Not all business relationships are productive, however. In order to build partnerships that work for your business, you need to find vendors you can count on to pro- vide for your clients. This starts with open and honest dialogue. "Lay out your philosophy of what you're looking for. Tell them, 'If this works, I'm going to refer you strong- ly, but that may mean you have to give estimates for business you may not always get,'" said Ryan. How can you ensure the rela- tionship is mutually beneficial? By tracking what they're giving you. For Tessier, that means tracking marketing dollars sold to vendors to offset the cost of mutually ad- vantageous events, such as pie giveaways at Thanksgiving. Mean- while, Ryan works with his preferred vendors to offer clients a discount on their services. While these busi- nesses chip in, Ryan is introducing them to new clients. Whatever your vendors are offer- ing, make sure both sides profit, and from a fair share, either from referral leads or securing the con- tinuing business. "Make sure you're both getting a good return," said Tessier. "And make sure it's a great customer experience." Part of that means taking a sec- ond glance at your own side of the relationship and how much you're contributing. Are your preferred vendors getting as much out of the partnership as you're getting from them? "Be the partner you want your partner to be," said Ryan, who em- phasized the fact that mutual re- spect goes a long way. And that's why Garner always starts with the following question: 'Who can I introduce you to, to help your business?' After that, they're in your corner, wanting to help you." How do you keep these valuable partnerships going? By checking in and showing your gratitude. "So few people are getting hand- written anything. Say thank you— people want to be appreciated— and monitor how many ways you've been able to help them so that you can continue to grow the relation- ship," said Murphy. RE To view the webinar in full, visit https://bit.ly/2Oib2z3. Liz Dominguez is RISMedia's associate content editor. Webinar Recap: How to Build and Nurture Key Partnerships by Liz Dominguez W hat does it mean to leverage valuable industry partner- ships in order to jumpstart your business? RISMedia's latest webinar, sponsored by Homes.com, "Achieving Better Client Experiences—and Conversions—With Key Partnerships," examined the keys to building and nurturing successful business relationships.

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