We have been into this business since many years and have also been involved in a ton of deals. The most important thing which stands out in all my dealing is company’s reputation and my reputation. But trust me it’s not at all easy to maintain and amazing reputations while you have so many competitors in the market who wants to put you down.
Trust and reputation are an asset for any business. Once your clients are comfortable with you, they will not just come back to you but will also recommend your service to others. Once you develop an image in the mind of people then it is quite difficult to change the perception of people, whether good or bad.
When your reputation is blossoming ,there is no need for you to spend money on marketing, advertising or lead generation.
If you want to sign contracts with more motivated sellers, more leases with qualified tenants, deal with cash buyers, and even attract the best investors and vendors, then you’ve got to build trust.
How do you do that?
1.Do the right thing and practice ethics:
Every business has some gray scale and so does Real estate business. Once you cross over them, there may be no turning back. Yes, the first tip is to do the right thing. Everyone must have made several mistakes, they must have lost contracts , investors etc. We are no different, yes we did a couple of mistakes but one thing was sure , that we didn’t cheat. It was always about WORD and we have always been confident on it.
So, always do the right thing, learn to say no when necessary. Promise what you can deliver.
The customers need to feel that you would do what you say. If there is even a twinge if doubt about your ethics, your reputation will suffer. While practicing wrong things you may not be caught once but eventually you will be exposed.
The most important thing many real estate business miss on is a great portfolio. Before any deal with you, anyone would want to know your past performance, your track record, because your past performance is the best predictor of future performance.
What if you are new in the industry? No worries, you can develop a great resume that shows off how your past accomplishments transfer to real estate. Try to tie up with different brands and partner with those who have good image in the market.
It is very important that you document everything you do. Otherwise, you‘ll it will be difficult to go back to dig up and organize the information. Later, this can be turned into case studies and used for promotions and to build trust.
3.Answer calls and return if unavailable
Who would like unanswered calls? No one. The single biggest pet peeve in business is not staying in touch. If they call and you don’t answer or call back after days, they will feel they are not important to you or you are too busy in some other things. Excuses to clients is a big NO. We have mobile email, text and various other means to get in touch with someone so there is no excuse not to get back to someone. Try to return call in an hr to the maximum.
Be straightforward even if there is a bad news before the news gets worse.
Your online reputation is the one you make on the cyber space. So ensure your online image is super clean.
Here are few tips on how you can manage your online reputation
- Get rid of old or bad accounts
- Join proffesional sites and write incredible blogs
- post positive post
- Set up alerts to track your online images
- Respond to negative comments gracefully
Even if you think you have developed trust and good image, it takes vigilance to ensure that it stays that way. So, commit yourself to provide the best service everytime.
I will summarize this post by saying : it takes lifetime to build reputation and only 5 mins to lose it.
Follow ethical practices, turn down which is not right, deliver what you promise and I promise you that your business will be a boom.
How do you keep your reputation up? I’d love to hear from you through comments.