Aligning with local businesses to improve your real estate success

For a real estate franchise, the role played within your local community network of businesses can be an important part of increasing success.   

Whether people live in a small country town, a suburban neighbourhood or the centre of the city, they usually visit the same retailers for their purchases on a regular basis.  It doesn’t matter if the purchase is their morning coffee or a new car, for the most part people are creatures of habit and once a relationship is built with a retailer, the customer will continue to return. 

This blog has spoken before about the importance of increasing your listings to improve your real estate success.  The focus has largely been on ways to reach and meet prospective clients personally, which is extremely important. 

What many real estate businesses don’t realize however, is that networking, or forming alliances with other local businesses in the community, is also a very powerful real estate marketing tool that can hold tangible benefits for your franchise. 

An alliance with other local retailers could mean any number of things.  It could be as simple as introducing yourself to the owners of the coffee store next to your agency, buying your coffee there daily and building up a relationship. 

It could mean joining with another business to co-brand a tent at the next community fair, or placing an advertisement in their newsletter or on their website. 

At the highest level, forming an alliance could actually mean becoming a member of your local business organization, such as a Chamber of Commerce, whereby you join with other community businesses to discuss community issues and form potential business strategies for the area. 

Assuming other businesses reciprocate the alliance, forming relationships can be mutually beneficial for all companies involved.  As repeat customers will both like and be loyal to their local retailer, your business relationship could ensure the transfer of these positive associations to your real estate franchise. 

When it comes time for people in this group to put their property on the market, your company could spring to mind quickly as a trusted organization involved with the community. 

There is much to be gained by involving your real estate agency amongst businesses in the local community.  Building solid business relationships based on mutual respect could ultimately position you as a company that is well liked and trusted, important traits sought by people looking for an agency to sell their home.   

 

 

Posted by George Tarbey on 02/08/2010 at 12:54 PM | Categories:

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