Do you want to expand your real estate company? Collaboration with other service providers is a good idea

Compass Cambodia report, June 30th - Everyone wants to grow their company as quickly as possible, but how do you go about doing so? Begin by asking yourself who you would like to work with as an agency. You most likely believe the answer is buyers and sellers. While this is true, other service providers, such as mortgage lenders, attorneys, and certified public accountants, are happy to work with you.

So, how do you go about finding these service providers and forming a mutually beneficial partnership?

Partnering With Lenders 

Kevin Markarian, a Forbes councils member, had little ties when he first relocated to San Francisco. So, during his first month there, he went into a Bank of America branch on Fell Street and inquired about starting a referral business. Ken was the lender's name, and he told him about a couple purchasers he was working with that required a lender and began sharing their information with him. Ken texted him the next day, telling him that he had a customer searching for an agent to list a two-story building in Haight-Ashbury.

The takeaway is clear: establish reciprocal partnerships, such as Kevin's with a local lender, to help your firm expand faster. However, lenders aren't the only service providers with whom agents might collaborate in order to expand their businesses.

Partnering With Attorneys

Attorneys, like agents, are constantly on the lookout for fresh opportunities. They can't make money unless they have customers, therefore they invest heavily in marketing. You are a wonderful source of leads for any attorney as a real estate agent. In some nations, a deal cannot be completed without the presence of an attorney. In certain nations, you can close a sale without hiring an attorney, but complex arrangements almost always require legal assistance. As an agent, you have something that most lawyers require: fresh clients. Attorneys can also introduce you to potential clients.

So, where do you begin? It's not nearly as difficult as you may believe. If you don't already have any attorneys in mind, search Google or Facebook for attorneys who are advertising. If they're advertising, they're looking for customers, so they'll be delighted to hear from you. Contact us via phone or email. Tell them you're a local realtor looking to start a referral network.

Ideally, you already have a few clients that require legal assistance right away. Make a reference if you do. It will leave a lasting impression. Don't let the fact that you don't have any immediate clients deter you from pursuing the idea. When you have the opportunity, reach out and begin referring clients.

Another suggestion is to arrange a workshop or webinar for attorneys to explain how working with a realtor might benefit them. Make a formal invitation. If you have tools that can track who opens your emails, make sure to look at who is responding to the invitation. You'll know they're interested even if they don't attend the workshop or webinar. After you've held the workshop, keep track of who came and who had questions. This is a fantastic method to begin forming friendships. 

Begin making referrals once you've found one or more attorneys with whom to collaborate. Keep your attorney list in mind so that you're prepared to provide a referral whenever the occasion arises. Simply ensure that the client mentions your name at all times. It's vital, after all, that you stay on the attorney's radar. If you build up a reciprocal relationship with them, they'll start suggesting clients to you as well.

Recruiting Other Service Providers To Your Team 

You may take this tactic to the next level once you've established relationships with local lenders and attorneys. You can begin to promote the idea that you can provide clients with access to listings or purchasers, as well as relevant legal and financial support, with their permission.

The bottom line is that working with other service providers is not only a wonderful method to get leads for free, but it's also a great approach to establish a more competitive firm – one that can continue to thrive in today's challenging market.

Source: Compass Cambodia comprehensive arrangement, Forbes

Editor: Malinda         Chief Editor: Sunnie         General in Chief/Executive Producer: Nicole

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