My $200k lesson: 3 relationship-building tips for agents

Your bond with your client should last long after escrow closes
  • Building relationships requires going beyond the annual holiday gift bag and occasional hello. You have to learn how foster rapport, and more importantly — trust.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Just recently I had a setback, an insight that made me stop and question myself. It allowed me to set a new professional bar -- and it cost me nearly $200,000. I would like to think at my ripe age of 60, I have learned my big lessons in the business, but I haven’t. Here’s what happened: I was doing my daily research, when I came across a home on the Newport Beach Bayfront that closed escrow for $7.5 million. I wasn’t surprised at the price of the home because it came with an unusually large boat dock. But I was jarred to read that the purchase involved a client of mine -- or at least I thought he was as a client of “mine.” And why wouldn’t I? I had closed over $20 million in properties for him. The problem was -- that was nine years ago. What went wrong? Why did my annual holiday gift basket or occasional phone call not keep me on my client’s radar? The answer, I discovered, was the importance of visibility -- specifically, our clients' visibility. When ...