3 Unusual Places to Find Real Estate Strategic Partnerships
82% of buyers look for referrals before they purchase. This implies you could miss out on a significant proportion of business if you don't have strategic partners. Strategic partners, such as alliances, help you establish connections and expand your audience reach while providing additional resources.
Not only do you reach people who would otherwise never hear of you, but you also profit greatly from your strategic partners' existing connections. Strong partnerships are necessary for our highly competitive and fast-paced real estate market.
On the other hand, finding excellent partners might be difficult since you'll need to discover people with similar interests and a great reputation. You'll also need to develop a professional relationship based on trust. The goal of partnerships is for them to develop and improve your profession.
So, where do you look for potential partners?
Related Industries
You can partner up with a variety of popular choices in a new way now that content marketing has grown to become an established path.
Regarding boosting marketing efforts, your blog and social media presence need to be combined with someone who will emphasize the campaign's goal. Alternatively, you might help them fill in the gaps in their campaigns.
Consider contacting your local interior designers, furniture merchants, or renovators. Consider approaching the construction firm or architect for your next development project. List any other associated market sectors that spring to mind. Then consider how your real estate expertise might complement their marketing campaign.
Take advantage of your OBM's knowledge. She's probably working with someone in the same business and can help you decide which approach is best for you. Again, make sure there's nothing underhanded going on; merely a quick overview to assist you in making the most informed decision possible.
Look Even Closer
It's only natural that those who hire builders and lenders would benefit from the assistance of a real estate professional. Building projects and obtaining a mortgage are significant life choices. To be ‘at hand' in this sense is to be an extension, providing prospective clients with a pleasant solution on their purchasing trip.
You'll profit from working with a well-known brand name in the building or mortgage industry if you're knowledgeable about the Real Estate Settlement Procedures Act (RESPA). It gives you a competitive edge and is an excellent way to increase your client base.
Other Realtors
Hang on - what? Partnering with Realtors in your immediate area is not a good strategy. What you need to consider seriously is partnering up with Realtors in places that are popular relocation areas.
Consider the weather, market conditions, and so on. You may be in a position to suggest the seller to someone in their new location when selling property. You may even get a commission for doing so. Even if you don't, they will likely be more than happy to recommend moving buyers from their areas to you.
Always be aware of referral fee regulations in each state, and make sure you're clear about how these key partnerships work. Establish how and when referrals will be rewarded. Two things, according to Inman, are crucial:
Any non-licensed partner should not be involved in any activity that requires being licensed.
Referral fees may only be paid if the referral pays with cash or a mortgage not backed by the federal government.
Sphere of Influence (SOI)
You've put in a lot of hard work to grow your SOI. Are you keeping them interested now? And are you continuing to expand? If not, they've become cold leads. Keeping your present group engaged suggests that you'll naturally expand your network.
Your ideal tool for promoting your expertise is social media. Keep publishing relevant and professional material, and don't neglect it. Also, don't become casual with the personal side of increasing your SOI. What has previously worked for you? Keep doing what you're doing. Word of mouth has not died out; it's stronger than ever. Give people your cards where appropriate, network, and start discussions. You are the most effective advocate for yourself!
Don't be scared to search for your next strategic partner in unusual places. You might never know who may introduce you to new customers or partners. Take a look at every one of your connections: From your team to your social media circles. From your rivals to your co-workers.
Examine all of your connections and how far they may go. Then make a phone call or draft an email and start leveraging your contacts right now!
meet Sheena
Backed by two decades of demonstrated experience, I help purpose-driven women in real estate grow their businesses and achieve ultimate success with proven systems.
