- How To Build Relationships
- Working With Other Agents
If you’ve spent any time working in the UAE real estate space, you are no stranger to the competitive nature of the industry. With high commissions at stake, it is not uncommon to find agents who hesitate to work together and refuse opportunities to collaborate. In addition to this, the influx of new agents entering the market every day only intensifies the competition, leading to a high-stress environment that can be overwhelming for many.
However, there’s no need to fear! What if we told you this competition was your key to success? While the high number of agents in the market can seem daunting, working together with these agents is a key factor if you want to sell more and earn more money. In this article, we will discuss why real estate agents should work together, how to build relationships with agents and provide some examples of how agents can collaborate to achieve mutual benefits.
How You Can Build Relationships With Other Agents
Show That You Are Trustworthy And Approachable: Trust is essential in any business, and the real estate industry is no exception. The best way to gain trust is by being honest and transparent. Be direct in how you can collaborate and make the experience mutually beneficial.
In addition, share your experience and what you can offer, and always be open to questions and feedback. To show that you are professional and have good intentions, make it clear that you will sign an agent-to-agent agreement (Form I) and split the commission when referring a client.
Proactively Network: Working with other agents means expanding your network. Get to know agents in your area of expertise, agents in cross-selling communities and agents in the surrounding locations. If the client you are dealing with decides to look somewhere else, you should know an agent you can refer them to. This will show the client that you are doing everything in your power to find their dream property and shows the agent that you’re bringing in qualified leads.
By doing this, you can be sure that if someone in your network is serving a client in your area of expertise, they’ll be sure to refer you. Attending industry events, joining online groups, and getting involved in the community are great ways to expand your network. The more people you meet, the more opportunities you have to build relationships and collaborate.
Lend A Helping Hand: Offer assistance to your fellow agents when you can. This could be as simple as sharing market updates for your niche or offering advice on a tricky situation. By showing that you are willing to help, you are also building trust and goodwill with your peers.
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How You Can Work With Other Agents
Now that you have established relationships with other agents, how can you work together to achieve a win-win situation? Here are some examples:
Using Bayut’s Listing Sharing Manager – Clients want you to work with other agents to source the right inventory that meets their needs. Our listing-sharing manager can help facilitate this process and ensure that everyone benefits. Using Brokerpad, our state-of-the-art CRM, you can add your listings to our Listing Sharing Manager, making it visible to all Brokerpad users. So, if another agent is looking for a listing in your area, he/she will be able to contact you easily.
Mentoring New Agents: Offer your expertise to new agents who are just starting in the industry. Share tips, tricks, and insights into becoming a better agent and meeting client needs. Your mentees are sure to come back to you in the long run and bring you opportunities to work together.
Collaborate On Social Media: Leverage your social media presence by creating videos sharing advice and market updates with other agents. This can be an effective way to establish authority in the industry and showcase the expertise of both yourself and your peers.
In conclusion, working with other agents can be beneficial in many ways. By building relationships and collaborating with others in the industry, you can expand your business while also gaining valuable insights. In the long run, this is the key to satisfying the most clients and ultimately closing more deals.
For more tips like these, check out the library of resources on our Content Corner. You can also sign up for an interactive workshop at Bayut Academy, where our training team is dedicated to helping you reach your goals and create your name in the industry.