To achieve long-term success in real estate, you must first build your network, or sphere of influence, which will help you to convert current leads into long-term clients.
A trusting relationship between you and your clients is required for this conversion.
Prospects will remain around if they trust you and you have a rapport with them.
Why You Should Create Your Own Real Estate Sphere Of Influence!
Most individuals believe that real estate brokers prioritize their interests over the interests of homeowners or future homeowners.
You must persuade them otherwise in order to make a successful sell. Establishing a trusting relationship with your network, whether it be friends and family or current or past clients, effectively ensures that your business will develop organically.
So, how can the top real estate agents develop rapport with their clients?
Fortunately, we've put together some pointers to help you build rapport with potential buyers, sellers, or anyone.
Here Are 7 Tips For Building Trust, Rapport, And Relationships
Empathy & Curiosity
The first step of a two-phase approach is to focus on curiosity and empathy.
If you are genuinely interested in the person you are working with, their motivations for moving, and the elements that led them to this particular neighborhood, rapport will naturally develop.
So, how can you cultivate your innate curiosity and empathy?
The trick is to be prepared and ready with questions.
Avoid making assumptions and instead concentrate on learning more about your prospect.
Understanding that this will be a challenging transaction and that numerous thoughts will be rushing through a prospect's mind will allow you to empathize with the prospect.
Remind yourself to be open-minded and compassionate, as well as to listen more. Make sure the client understands you're on their side.
The Two Things Necessary For Likeability
To win the opposite side over, you must complete a few tasks. For instance, learn and use their name regularly, and ask numerous pertinent questions. A relationship will develop spontaneously.
So, what should you inquire about?
A nice way to start is with the query, "What brought you to contact us today?"
This question is great for establishing rapport. However, there is one disadvantage: the prospect will most likely respond briefly.
They'll remark something along the lines of, "Well, it was time to move, it was time for our family to get into a bigger house, etc."
If this occurs, you must delve deeper, and you must do it using the same protocol—ask another (follow-up) question.
Two questions that may be useful are:
- "Tell me more," they may say, referring to their desire to move into a larger home and their readiness for one. They continue when you ask for further information.
- "Can you elaborate on that for me?" They may respond, "I want to be close to XYZ." This is a critical area for me." "Could you elaborate on that?" ask again. Repeat as necessary.
By doing so, we encourage people to go deeper than the surface, which is where rapport is formed—beyond the evidence.
A word of caution: when we start asking questions, we sometimes feel that's all we need to do, so we start showering the possibility with them.
This will not build rapport; rather, it will feel like an interrogation. So, instead of asking questions for the sake of asking questions, make sure you're asking the correct questions that reveal crucial information about the prospect that will be valuable later.
Gong, a sales call recording software tool, investigated how much the sales professional should talk when conversing with the prospect.
Surprisingly, the top sales personnel only speak 40% of the time, leaving 60% of the time for the prospect to speak.
This is intriguing because it implies that sales representatives delve deeper and try to understand the reasons for their customers' problems rather than merely asking them a bunch of questions and then sitting back.
Who Speaks The Loudest?
A good rule of thumb to remember is that the person who speaks the most in a sales transaction is more likely to feel that the conversation went well.
You will feel as though you have nailed the presentation if you enter a listing presentation and speak the entire time. The prospect, on the other hand, will not think the meeting went well.
The ideal dynamic is one in which both sides feel they have received an equal amount of talking time, and the prospect feels heard.
As a realtor, you are in a particularly beneficial position since you have conversational weapons, one of which is location. You are aware of their residence or possible buying location.
So, what exactly do we mean? Consider the following scenario: a seller calls you, and you inquire about their property. Asking them about their area is an easy way to build rapport.
When you're familiar with the area, you can inquire, "Hey, do you spend a lot of time at the park?" Because I am acquainted with the parks, stores, and landmarks. "Do you know where XYZ coffee shop is?"
And doing so makes it an excellent method for creating rapport.
Design And Construction
These are two terrific methods for establishing rapport while you're inside their home.
You can connect because you have a rudimentary understanding of construction and design, and you can discuss how much you admire their hardwood floors and believe their appliance brands are top-notch, and so on.
Repeat As Needed
This approach works by having someone explain something to you and then having you repeat it differently.
This works beautifully when communicating with customers. For example, the buyer may state that they want to reside in a green area and are looking for a square foot home with four bedrooms in a specific community close to a specific school.
Although you should not directly repeat what they said, you should say something similar but slightly paraphrased.
This will show them that you heard what they said or that it sounds correct to you. As a result, an immediate bond is formed.
Users of real estate often assume that agents are looking out for their best interests. In actuality, you're on their side, and you must persuade them of this. You can connect with them and ensure they feel heard by using the repeat and rephrase strategy.
Tonality Of Voice
Another method is to match their vocal tonality. If they're a rapid talker, you're suddenly a fast talker; if they're slow and silent, you'll have to put on that hat as well.
Consider the person to be a friend. When you consider them a friend, you will naturally begin to match their cadence.
Another advantage of this method is that you will naturally grow more empathic and interested.
Vulnerability And Bravery
Finally, there is courage and vulnerability. You must engage in the conversation rather than simply listening.
So, how do you go about it?
Find Common Ground
You must also maintain perspective and be willing to act honestly.
If you're talking about a park or a school, you can mention a personal experience or a connection you have.
Take it a step further by showing some vulnerability. Assume the seller we're chatting with is experiencing some challenges that are causing them to reconsider selling their home. You may tell them you sold your house two years ago and walk them through the difficulties you had.
This is how you can find common ground.
Don't Feel Restricted
One prevalent form of resistance we find is the argument that "it's difficult for me to establish common ground because I don't think I'm interesting."
We automatically challenge that when we hear it.
Usually, you're only mentally restricted because you believe your point of view is unjustified, or you're concerned about how you'll come across.
Most of us are far too cautious. Connection increases as we lower our guard and listen to our inner critic.
Make Sure You're Experiencing Your Environment Most individuals have interesting lives, but if you believe that yours is uninteresting because you all do the same mundane activities that everyone else does, we advise you to try new things.
Spend more time with your buddies. Make an investment in a new show. Read things that pique your interest and fascinate you. Discover a podcast that is the ideal companion. Take the less-traveled path.
The broader your worldview, the more probable it is that you will form friendships and relationships with people who share your interests.
Building rapport with a prospective customer is a more or less guaranteed means of making a sale, but it also ensures that your sphere of influence in real estate expands and you maintain clients in the long run.
Finally, this is one of the most important criteria in determining where your next lead will come from.