How being known, liked and trusted can improve your business

Reposted with permission from Matt Bonelli

Do you want a business that doesn’t stress you out and require you to be that on-demand, 24/7 Realtor? Then you need to become known, liked and trusted.

Here is what we know:

• 77 percent of homesellers and 65 percent of buyers found their real estate agent through some type of pre-existing relationship (family, friend, personal referral, broker referral, etc.).
• Only 4 percent of sellers and 10 percent of buyers found their agent on the internet without any prior reference to that person.
• The average agent converts less than 5 percent of the online leads they receive (the very best only convert up to 14 percent).
• People do business with other people that they know, like and trust.

The key to a strong business is obviously strong relationships. Why spend so much time having “real estate conversations” with online leads that ultimately go nowhere? Instead, you can spend that time having more fun and creating more value for others and yourself.

Think about what you like to do: What are your hobbies and interests? Find other people and groups who share those interests and get involved. This can even be online, through Facebook or forums! Once you are surrounded by like-minded people, engage them with intent.

Here is the key, and I cannot stress this point enough: Be genuinely interested in others.

Learn about the people with whom you interact. What are their likes and dislikes?

In order to get to know someone on a more personal level, continue your conversations away from the group setting through phone calls, handwritten notes and one-on-one meet ups. Make sure you keep track of these interactions through a customer relationship management system (CRM), pen and paper or whichever system works well for you.

Building a strong relationship is the most effective way for you to achieve harmony with your life and work. You become a proactive real estate advisor instead of a reactive, on-demand real estate agent.

Most importantly, have fun with the people you engage!

That is the true beauty of this business: The more fun you have, the more people you meet and the more business you do.

Matt Bonelli is a manager and broker associate for Turpin Realtors’ Chatham office in Chatham, New Jersey. You can follow him on Twitter or learn more about him on LinkedIn.