DO RELATIONSHIPS MATTER IN REAL ESTATE?
I find myself today pondering whether relationships matter, particularly in real estate transactions. We professionals view real estate and home financing by nature as a relationship business because we get pretty personal during those transactions. I know plenty of real estate agents who work with someone and when that someone wants to buy or sell again they don't call them. I experience the same type of behavior sometimes. This makes me ask when someone is looking to buy, sell, refinance a home how important is the relationship with which the person is engaging.
I am a relationship person. I'm a hard sell, but once I make a decision to go with someone for any service then I'm all in. When I need that service again, then I'm going to call that person back if they delivered what I expected the first time.
I'm thinking about relationships today because I have a home buyer who shopped the home owner insurance and then decided the person they had been using for a decade or more for home owner insurance, even though they were somewhat higher, was a tried and true source. That relationship matters to this particular home buyer.
This makes me think relationships really do matter. But then, on the flip side, is everyone a relationship person? When we don't work with a client a second or third time then maybe, just maybe, that person is not a relationship person. Maybe they don't need the confidence of knowing they are using someone they KNOW vs taking their chances at a new one time relationship. Maybe we couldn't have done anything different when we had our time in the barrel, but we just value relationships more than some people.
The moral of this story is nurture relationships during and after the transaction is complete, do a great job and expect repeat business. If that doesn't happen, then be content in knowing relationships don't matter to everyone.