The Do’s and Do Not’s of Real Estate Business Management

It’s a lot easier to focus on just selling real estate than it is to stress over the details of real estate business management. With so many relationships to manage real estate team leaders can sometimes forget the type of person they’re working with.

Below are a few do’s and do not’s on real estate business management to consider in your business.

What You Should Do

Establish a Connection

Clients don’t want to feel like they are being “sold” – they want to feel that you genuinely care about them and their needs. Take time to build and maintain a personal connection before you start talking business.

Listen

A true relationship can’t be made if you are doing all the talking – your goal is to earn trust and establish a comfortable rapport leading to a sense of safety.

Get Personal

Human beings buy from human beings -rather than talking purely business, let your clients know about your family, hobbies etc. – you might find you have people or interests in common which can go a long way to creating a long-term relationship and bring in referrals.

Show Respect

Your conversations should contain a feeling of mutuality rather than talking down to or dismissing client input. Never be afraid to give clients the hard, cold facts and tell them what they need to know especially if you feel they might be making a mistake – even if that mistake involves your services.

Make Them Your Fans

Keep in touch. Referrals come from clients who trust you, believe you value them, are enthusiastic about your superior service and feel good about the relationship they have with you and your company on a on-going basis.

Take Responsibility

People make mistakes and in most circumstances, people understand and forgive mistakes. Be up front and tell clients the truth without passing the blame to someone else. Ignoring a client that is upset or feels wronged can create an adversary for life that will work against you – you don’t want that.

Do Not Do This

Oversell Yourself Or Your Service

Be honest about the services you can provide to your clients and always make sure you meet and whenever possible exceed their expectations.

Talk Down Your Competition

Show your competitors the same respect you would want if the positions were reversed.

Use Sales Pitches

This type of communication turns people off and they will shut you out – even worse you will be branded as an unscrupulous salesperson.

Treat Clients As Transactions

Provide the human touch – recognize client needs, wants and expectations (which will vary from person to person) and let each client know that they are your top priority not just in words but followed up in actions before, during and most importantly after the sale.

Treat Customers As Expendable

Misleading, coercing or disrespecting clients creates instant detractors, not only will they switch to your competitor but they will “warn” others about you.

Mistake Apathy For Loyalty

Don’t assume that a lack of contact or complaints means a satisfied client base. If you don’t keep in regular contact with past clients they are likely to lose their initial enthusiasm and forget what a great experience they had with you.

Rome wasn’t built in a day, and building lasting customer loyalty takes time and is only achieved through a series of positive experiences and on-going communication.