Courtesy of: Frederick Peters, President of Warburg Realty
I like to say that residential real estate is a relationship business disguised as a transaction business. If you don't build trust with your customers and clients, if they don't feel confident about your knowledge and integrity, you have nothing. Maybe someone will find your listing on line, as they used to find it in the paper. Maybe they will contact you for an appointment, and maybe you will even sell them the property they come to see. But it doesn't happen all that often. To make it in residential brokerage in New York City, which has almost as many licensed agents as it does real estate sale transactions in any given year, agents need repeat business and referrals. The agents who are successful, year after year, are those who have built a reputation for professionalism which translates into referrals. Many of them have so many referrals they cannot handle them all, sharing their business with assistants or junior colleagues learning the ropes.