Local businesses, such as retail establishments and restaurants, local vendors, such as landscaping companies and cleaning services, and tradespeople, such as electricians, plumbers and builders, are all staples in your market. Not only are these businesses serving the community, but they are also part of the community, and as you work to become a local expert, relationships with them are vital.
Partnerships, relationships and collaborations with local businesses and vendors help build relationships with buyers and sellers in the community. Because local businesses interact with customers each and every day, they are influential. Think about it like this: They work with potential buyers and sellers before, during and after the home-buying or -selling process. Integrate yourself and your business into the community and engage in personal relationships with these businesses and vendors. This not only creates endless networking opportunities, but by working together, both sides benefit by increasing their sphere of influence.
Zucker has realized the benefits of connecting with local businesses and vendors. In fact, her entire team focuses on local and hyperlocal expertise, and the importance of building and maintaining strong relationships in their communities.
“We throw a vendor happy-hour party at the start of every year,” says Zucker. “This is a great opportunity for agents to connect with their partners all at once and in-person at least once per year. Our annual vendor-appreciation party allows us to start off the year in front of our vendor partners, and it gives us the chance to show them how much we appreciate them and how they care for our clients.”
In addition to vendor events, Zucker and her team invite vendors and referral partners to their weekly team meetings. This provides the opportunity to connect with other team members they may not know or haven’t worked with yet, allowing them the chance to share new ideas and efforts for partnerships. Team Denver Homes will then update their website, where they feature a special vendors tab that includes a list of their partners. This creates exclusivity for said partners, as well as providing resources for clients.
“We allow new vendors to apply to be included on the list by presenting at our meeting or by attending our vendor happy hour,” explains Zucker. “More importantly, our vendors need to continue receiving good reviews from our clients. At the end of the day, we care about a great client-care experience.”
Shapiro is no stranger to leveraging her relationships within her community. Through marketing, advertising and social media—as well as her dedication to building real-life relationships with local businesses—opportunities for referrals, lead generation and growth are readily available, and she makes sure to show her support.
“Developing relationships with local businesses helps to build your sphere of influence, and in return, continue to grow your business,” she says.
“I align myself with partners like attorneys and lenders. They interact with potential buyers and sellers, but we are not in competition,” Shapiro continues. “I leverage my marketing with these partners to extend my reach in local advertising or lead-generating opportunities.”
Her marketing efforts include creating video content for local businesses and marketing them across her social media channels, ultimately supporting their businesses, giving them exposure and highlighting the market and/or neighborhood.
In an effort to connect even more with these businesses, and get to know her market on a deeper level, Shapiro takes part in her local business council. She also utilizes Facebook groups to connect with local town pages to stay up to date with community activities and even connects with other real estate agents in the area for recommendations on other collaborative local businesses. All of these strategies, both online and in person, put your face, your brand and your message in front of more eyes, ultimately increasing your reach, referrals and repeat business.
“These relationships are very important because if no one knows you as an agent in real estate, no one will refer you in our businesses,” says Shapiro.
Referrals, when it comes to collaborating with a local business, can go both ways. Of course, you are building up your sphere, but you can also help them build theirs, which ultimately helps your market, neighborhood, city or town. Consider exchanges—such as both you and the business posting about each other—co-sponsored or co-hosted events, or working together to offer discounts on services in exchange for advertising or marketing campaigns.
Sharing referrals, especially accompanied with discounts or incentives, will continue to keep you top of mind, both for your local businesses and the people who live in the area. According to Scott, this strategy will help create a “mutually beneficial cycle of repeat business.”
Relationships with local businesses help expand your network, but this doesn’t just stop at their patrons and others in the community. In fact, you can—and should—use these relationships as a networking tool. Most business owners in your market are likely residents of that area.
“In addition to being able to turn business owners or service providers toward residents or homebuyers, the businesses themselves help expand an agent’s prospect network,” says Scott. “This could be referrals from the business or the businesses themselves needing to relocate new employees.”
As you get to know the business community in your market(s), let them get to know you, too. Detail your services, highlight any specialties or niches you may have, and let them know you are available if they are ever interested in buying or selling a home.
“Local establishments and business owners may also look to buy or sell at some point, and through relationship-building with them, you can create actual business from the people you are working with,” explains Zucker. “These partnerships allow your name to be mentioned in many rooms you are not in, therefore increasing your exposure and reach in the community, and with other local business owners.”
Local businesses and vendors play a crucial role in the success of real estate professionals. By integrating yourself into the community and building strong relationships with these businesses, agents and brokers alike can establish themselves as the go-to local expert, creating endless networking opportunities.
The businesses and vendors in your community have a direct impact on buyers and sellers as they interact with them before, during and after the home-buying process. Collaborations and partnerships can expand not only your sphere, but theirs, too, strengthening both of your reputations as trusted resources in the market. Be sure to prioritize these relationships as you build your business strategy for success within your community.
