Author: Mastroianni Consulting

Delegating Transaction Management to Increase Efficiency | Mastroianni Consulting

Delegating is the key to building a business.  While it may seem that giving up some control can seem like an overwhelming concept, delegating doesn’t have to mean losing control—it’s all about balance.  Delegating, even if you’re a solo agent, can have myriad benefits for your business.  Here’s how Mastroianni Consulting can help you grow by making you more efficient:

Less day-to-day responsibilities.  Your schedule is already packed.  You’ve got time blocked off for lead generation calls, you’re following up with leads and past clients, you’re running around for appointments—there’s simply not enough time to do every little thing yourself without sacrificing something.

More time to focus on what matters.  Letting another professional take on the paperwork and transaction follow-ups will give you more time to focus on what really impacts your bottom line: getting leads and securing business.  Delegating means that you’re transitioning to a supervisory role.

Fewer errors and misplaced information.  If you’re trying to do everything yourself, things will start falling through the cracks.  You’ll start to notice that you forgot to save some paperwork to a transaction folder, or you are behind on reminding your clients to shut off their utilities before their closing.  These little things can add up, making your business extremely disorganized and ultimately affecting your profits.

Affordability.  If you are worried about the affordability aspect, think of it in terms of saving money because you’ll be more organized and more efficient.  In essence, it is an investment in your time and business; a business expense that seeds your growth.

The 5 Habits of a Great Listener | Mastroianni Consulting

Listening is a skill that needs to be mastered to ensure effective communication. It is essential to all aspects of our lives. It builds relationships and solves problems. It ensures understanding, reduces errors and helps to resolve conflict. Further, it allows us to demonstrate that we are paying attention to the thoughts, feelings and behaviors of another person. It shows that we value what they have to say.

However, in today’s bustling, high-tech world, the art of listening is on the decline. In the words of Stephen R. Covey, author of the book, ‘The 7 Habits of Highly Effective People’, “Most people do not listen with the intent to understand; they listen with the intent to reply.” That is, if they are listening at all….

To expand your horizon and strengthen your listening skills, incorporate these five ‘listening’ habits into your daily life:

1. Face the Speaker and Maintain Eye Contact
When someone is speaking to you, have the courtesy to face them and make eye contact. This shows them that they have your undivided attention. In our distracted society, having a conversation with someone whose eyes are glued to their small screens shows blatant disregard for the person speaking.

2. Be Present and Attentive
Signal your attention and interest through body language. Lean forward, smile and nod occasionally to encourage the speaker to continue. Show them that you understand where they are coming from by reflecting their feelings. “You must be thrilled!” “I am sorry that you are going through this.” “What an ordeal!” are some examples.

When listening, remember that words convey only a fraction of the message. Be mindful of their body language which might telegraph enthusiasm, sadness, confusion or irritation.  Be attentive to the ‘whole’ of what they are saying, not just the words.

3. Be Focused on Understanding
For many people opening up and sharing their opinions or experiences can be daunting as it leaves them feeling vulnerable to judgment or rejection. Focus your attention on hearing and understanding what is being said rather than planning how you will respond. Show support and empathy. Let the other person know that you ‘get’ what they are saying. If they are expressing sadness or joy, covey those feelings through your facial expressions.

4. Ask Questions ONLY to Ensure Understanding – and Don’t Interrupt!
Ask questions to continue the conversation and show interest, but don’t interrupt. Wait for natural pauses. “So, what happened next?” “How so?” “In what way?” are some examples. Asking intelligent questions, or rephrasing to restate a point the speaker has made, signals your interest and understanding.

Often though, it is easy for a conversation to turn to a different topic without the speaker being able to conclude their original point or thoughts, so if you get side-tracked, bring the conversation back to the original topic.

5. Listen without Fixing
Be the person who listens to understand. When listening to someone talk about a problem, refrain from suggesting solutions. In most cases, they are not looking for a critique of their situation or an analysis of their options. They just want someone to empathize and to see things from their perspective.

If advice is sought, it will be asked for. Be mindful of this last habit. It is essential to being a great listener.  Most people don’t want a ‘fixer’. Very often, they will find it insulting or feel as though you are patronizing or condescending to them…  Just listen to understand!

The power of truly listening cannot be overstated. Listening is so much more than hearing. It is what happens when we not only open our ears, but also our minds – and sometimes our hearts – to another person. I encourage you to change your life and the lives of those you interact with by adopting these five habits to become a Great Listener.

~

Other articles that may interest you:  5 Ways To Improve Your Client Communication | MASTROIANNI CONSULTING
Words To Earn Client Loyalty | MASTROIANNI CONSULTING
Business Skills: A Road Map to Success | Mastroianni Consulting

 

Unprofessionalism: 12 Common Behaviors & How to Overcome Them | Mastroianni Consulting

Professionalism is a reflection of your character, your values, your effectiveness, and your competency. It is the image that others have of you and lies at the junction of your behavior, skills and knowledge. For most practitioners it is a skill that is continually honed.

It is said that there are four pillars of professionalism. They are: altruism, integrity, responsibility and respect. A lack of professionalism would be behavior that is contrary to these ideals. But what does that look like in today’s world?

Here are the most common behaviors that point to a lack of professionalism.

1. Not Being Timely and Punctual / Poor Time Management
Being on time is one of the most fundamental qualities of professionalism. If you struggle with this, shift your thinking and make it a priority to organize yourself and your time.

2. Not Being Honest / Lack of Integrity
People need to know that you are trustworthy, honest and possess integrity.

3. Not Being Competent
A core component of professionalism is competency.  If you aren’t really sure what you are supposed be doing or what you are supposed to know, ask someone, then set about developing those skills.  Make self-improvement a daily habit.

4. Not Taking Responsibility / Not Being Accountable
Being accountable for your actions and taking responsibility are key life skills. If an error occurs, be the person to accept the responsibility and take action to resolve the issue, even if the mistake was not directly your own. Step up and never pass the buck!

5. Not Being Reliable
People need to know that they can rely on you. Reliability sits evenly with trustworthiness.

6. Half Listening / Not Listening
The number one skill most important to people is the ability for you to listen to them and HEAR them. Listen, empathize and provide them with helpful information so they are able to make confident decisions. Failure to do so will mean a loss in their trust.

7. Being Unavailable
People expect to hear from you regularly. Slow communication sends a message that they are not important to you.  Answer calls and emails in a timely manner.

8. Not Being Organized or Prepared
To work efficiently and effectively, you need to be well organized. Structure your day and your work environment; anticipate needs and requirements to be better prepared. Never leave anything to the last minute.  Be an effective planner.

9. Not Paying Attention to Your Appearance
Failure to take care of your appearance will telegraph a poor work ethic and a low level of competency. Studies show that people have more trust in someone who is dressed professionally.

10. Not Being Diligent or Consistent
When you fail to demonstrate a consistently strong work ethic, you are also demonstrating a lack of due diligence.  Both lead to errors and delays that cost money and create other problems.

11. Not Being a Problem Solver
Learn to identify problems before they occur, but when they do, help find resolutions.

12. Being Arrogant / Lacking Respect
No one likes arrogance. Be confident, but be a team player. Be humble, respectful and kind.

Professionalism is a code, a standard, for conducting business. If you are not seen as professional, finding long standing employment or building a business will be difficult.

Instead: Do the right thing. Go the extra mile. Have integrity when no one else is looking. Be honest. Be trustworthy. Be ethical. Respect others. Learn something new every day. Raise your own bar – be better!

~

Other articles that may interest you:  Business Skills: A Road Map to Success | Mastroianni Consulting
5 Ways To Improve Your Client Communication | MASTROIANNI CONSULTING
10 Keys To Having A Great Reputation | MASTROIANNI CONSULTING

Business Skills: A Road Map to Success | Mastroianni Consulting

According to author and business consultant Quint Studer, successful entrepreneurs and company owners tend to have a certain, yet predictable, skill set.

These key abilities constitute his ‘top 10 powerhouse skills’ that every entrepreneur and business owner should strive to master in order to be successful.  They are summarized below:

1. Financial Know-How. Studer recommends concentrating on understanding your business’ cash flow and receivables first, and then planning accordingly.

2. Marketing Mastery. Marketing, not to be confused with advertising, includes all the decisions that take place in the process of getting your product to the consumer. Studer recommends focusing on ‘pull marketing’, in which you motivate customers to seek out your brand and work to create a loyal following, rather than it’s opposite, ‘push marketing’, where the main message is to convince clients to hire you or to buy something.

3. Salesmanship. This skill is centered on the strong belief and conviction that you have about your product or service. Being able to articulate it well and with passion is crucial. People today, don’t like to be ‘sold to’ and they don’t like a pushy salesman, but they do respond to enthusiasm and passion.

4. A Focus on Execution. While strategy and innovation matter, successful business people know when to pull the trigger to get things done. Ideas that you don’t, or can’t, implement are useless.

5. Customer Experience Excellence. Providing an excellent customer experience has never been more important. Make the experience personal, individual. As the saying goes, “Take care of your customers and they will take care of you”.

6. Culture. Attracting and keeping great talent means creating a culture where people are engaged, energized and excited about their ability to contribute and make a difference.

7. Delegation and Time Management. This ability centers around a focus of working on your business not in the business. Find tasks to delegate or outsource. Be very deliberate. Managing your time is critical to your success.

8. Problem-Solving Prowess. All businesses run into problems. Smart leaders know how to catch problems in their initial stages and can resolve them quickly.

9. Balance Networking with Real Work. While it is important and often necessary to network, it is the real work that produces results. Balance here is important.

10. Commitment to Community. An essential element of any successful leader is the ability to contribute to the community. Give back, become involved, make the world a better place.

Typically, these skills are developed over time. Great business leaders evolve by doing, failing, learning and improving. These 10 essential business skills are your road map to success.

Source: “10 Skills Every Entrepreneur and Small Business Owner Must Have,”
ExecuNet (Nov. 13, 2017)

Other articles that may be of interest:  How To Build A Robust Referral Network | Mastroianni Consulting
The Importance Of Professional Networking | Mastroianni Consulting
5 Ways To Improve Your Client Communication | MASTROIANNI CONSULTING

4 Types of Clients NOT to Work With | Mastroianni Consulting

In sales, leads are the order of the day. Converting them to a client is often a real challenge; one that takes time, effort and expense. This makes the idea of actually firing a client once you have one seem completely inconsistent. But all clients are not created equal. Sometimes, firing a client is not only the best option, it is absolutely necessary.
This article will examine the four types of clients that every salesperson has worked, or will work with, at some point in their career. In this article we will use examples related to real estate transactions, but the message is universal to all sales activities.

1. Abusive Clients

anger
Salespeople come into contact with a wide variety of people every day. Some clients will be more difficult than others, but don’t mistake acclimating yourself to a client’s personality with putting up with abuse. If a client is verbally abusive or consistently rude, that is a sure sign that it’s time for you to politely tell them that the professional relationship should end.

2. Dishonest Clients

liar-liar-pants-on-fire
Clients who are dishonest can jeopardize your reputation and in a lot of fields they can also cost you your license.

In real estate, one of the most common ways that sellers are dishonest is when they lie or hide flaws with the home.

If you suspect a client is failing to disclose information it’s best to inform them of the possible consequences. If they continue to exaggerate or lie, it’s better to let them go than to threaten your reputation.

A note here for real estate agents; you are required by law to disclose all known facts. Once the situation moves from suspecting to knowing, protect your license and end the relationship. In some cases, if the issue is noticed by the buyer post-purchase, you and your brokerage could take the fall for it.

3. Time Wasting Clients

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As a sales professional, your time is your money. Time wasters are clients who can’t make a decision. They beat around the bush for an exhausting amount of time with no clear closing in sight.

These clients have no sense of urgency. They will make you take them to more than 15 showings over the course of several months and never make a decision. If they’re selling a home, the client will have you overprice their listing and work twice as hard to sell a house that simply won’t sell at their asking price. They will bring five different relatives to the showings and each will have a different idea of what the buyers should look for in a house. They will have a relative send you Zillow or Trulia listings that are either not on the market, incorrectly valued, or under contract already.

In all these scenarios, your time, energy and resources are being depleted on a client whose business may never come to fruition. Weeding out time-wasters will dramatically improve your bottom line.

4. Unrealistic Clients

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This type of client goes hand-in-hand with the time-wasting client. As an expert, your responsibility is to aid the client with your expertise and knowledge. Sadly, many clients do not listen to the advice offered.

A good example of this is an over-priced listing. If your client is expecting you to sell their home at a price that is completely unreasonable and won’t listen to your counsel, it may be time to tell them another agent may be a better fit.

Ending the Relationship

Making a decision to end a relationship with someone who potentially could be paying you a fee, can be a difficult one, but one that should be made sooner rather than later.

Let’s look at some scenarios:

• If you deem the client relationship to be taxing, ask yourself if the behavior can be corrected. Can you talk to the client transparently? Will they take your advice if you do talk to them?
• If you’ve tried this approach and there hasn’t been any improvement, it’s time to speak with your supervisor, manager or broker. They may step in, or they may suggest that the client works with another salesperson. They may also decide that the best option would be to release them completely.
• Once a decision has been made, invite the client to a face-to-face meeting and politely present your reasons. If you are able to refer the client to someone else who you feel would be a better fit, it would be a good idea to have them there at the meeting. Use facts from your ongoing working relationship to explain why you think the client may be more successful with another salesperson.

It may sound counter-intuitive to cut ties with a client that you have put a lot work into, but the reality is that all of the time you were wasting on this client can now be allocated towards clients who will actually be profitable in the end.

~Sourced in part from a blog at formsimplicity.com

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How To Build A Robust Referral Network | Mastroianni Consulting

5 Ways To Improve Your Client Communication | MASTROIANNI CONSULTING
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How To Build A Robust Referral Network | Mastroianni Consulting

Referrals are the lifeblood of any business; the barometer of the business’s success. They are especially crucial for small businesses who rely heavily on word of mouth advertising. But, how do you go about building a robust referral network?

In this article we will discuss eight ways to identify and grow your referral network.

1. Be referral-worthy
Mediocrity will never build a strong referral network. You need to provide a level of service that makes it easy for people to refer you. Remember, a referral is also a reflection of the standards of the person giving the referral. To be referral-worthy, you need to become known for being a person of high standards and integrity. The higher your standards are, the more willing people will be to refer you.

2. Identify friends and family who know a lot of people
Those in our inner circle who have a large social network are natural ambassadors and can be a great source of referral business.

3. Clients – past or present
Ask them for a testimonial. Provided you have demonstrated value, they will usually be happy to comply. Another method is simply by asking for customer feedback or reviews and then turning that feedback into a testimonial on your website (with their permission, of course). Testimonials are powerful examples of the social proof of your expertise.

4. Chance encounters
Be prepared when meeting new people through chance encounters by having ice-breaking opening lines ready to go to initiate a conversation. Wear a name badge or logo-branded clothing that will prompt someone to inquire as to what you do. Offer them a business card if they have questions or want to keep in touch.

5. Professional, business and service contacts
These indispensable contacts are the people that you meet while conducting your business. They are an excellent source of referrals who, in turn, should also be the recipients of referrals from you. Over time they will become your strategic business partners.

6. Get involved!
Join an association, organization, community or hobby group. Contribute your expertise, make friends and give back. Make a difference!

7. Identify friends and family who live out of state
These connections can be anywhere. The wider the sphere, the larger the pool for referrals. Simply let them know that you are part of a referral network and can assist their friends and family with trusted referrals.

8. Show gratitude
Be thankful. Be humble. And stay in touch!

Building a robust referral network begins and ends with excellence, authenticity and a firm commitment to exceeding the expectations of the referrer and the person being referred. Be genuine, care, do great work and don’t be afraid to ask for business.

~

Mastroianni Consulting is a consultancy firm serving the needs of Realtors and their Clients. Dedicated to Excellence, they provide support services that assist real estate agents to grow their businesses. For more information and to learn how we can help you become more successful, please contact one of our Client Care Specialists.

You can reach us at (636) 220-7481 or clientcare@mastroianniconsulting.com

Other articles that may interest you include:  The Importance Of Professional Networking | Mastroianni Consulting
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Possession Prior To Close – Never A Good Idea | Mastroianni Consulting

From a risk management point of view, permitting a buyer to have possession prior to close is NEVER a good idea. Why? There is too much potential for something to go wrong.

Here are 10 scenarios to consider:

1. What happens if the buyer is unable to close?
2. What if they decide they don’t want to close OR move out?
3. What if the buyer makes a large purchase prior to closing and no longer qualifies for the loan?
4. Someone is injured – who would be liable?
5. What if the buyer damages the property?
6. What happens if the home burns down, or is significantly damaged?
7. What if the buyer didn’t start their insurance early and a claim needs to be made?
8. What happens if the insurance won’t cover damage to the property?
9. What if the buyer does repairs and then can’t close? Could the buyer file a mechanic’s lien against the property for work completed?
10. What if permits for the work completed were not pulled?
And the list goes no….

As agent, protect your client by never permitting a buyer to have early possession. Even in the most dire circumstances, there are options: they can stay in a hotel, lease back their existing property, stay with family etc.

In the event that you have absolutely no choice in the issue and you must deal with having the buyer take possession prior to closing, follow these steps:

• To properly protect all parties, you will need a separate lease agreement. A lease allows the seller to quickly evict a tenant. Removing a “buyer in possession” under just the purchase agreement is a much more difficult and costly task.
• You must treat both transactions as being separate. In other words, the buyer/lessee must put down both their down payment for the purchase plus a separate security deposit and the first month’s rent for the lease.
• Take pictures of both the interior and exterior of the property to document the condition at the time that the buyer takes possession. Have both parties sign off on the condition of the property prior to giving the buyer/lessee the keys.
• Purchase a home warranty protection plan. If there are problems with the home’s systems or appliances, a home warranty policy minimizes the seller/lessor’s potential cost and exposure.

There are many horror stories out there that expose the risk of early possession. My strong recommendation is that you not add to the list of tales of woe. Make it your cardinal rule to never, ever let a buyer have possession prior to closing.

~

Mastroianni Consulting is a consultancy firm serving the needs of Realtors and their clients. Dedicated to Excellence, they provide support services that assist real estate agents to grow their businesses. For more information and to learn how we can help you become more successful, please contact one of our Client Care Specialists.

You can reach us at (636) 220-7481 or clientcare@mastroianniconsulting.com

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Lead Based Paint And The Perils For Real Estate Agents | Mastroianni Consulting

The Law

Approximately ¾ of the nation’s housing built prior to 1978 contains some lead-based paint. When properly maintained and managed, this paint poses little risk. However, more than 1.7 million children have blood-lead levels above safe limits, mostly due to lead-based paint hazards. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women.

To protect the public from exposure to lead from paint, dust, and soil, Congress passed the Residential Lead-Based Paint Hazard Reduction Act of 1992, also known as Title X. Section 1018 of this law directed HUD and EPA to require disclosure of information on lead-based paint and lead-based paint hazards before the sale or lease of housing built before 1978.

As real estate professionals, the EPA & HUD Real Estate Notification and Disclosure Rule states that we are responsible for ensuring sellers and landlords are made aware of their obligations to disclose all known lead-based paint and lead-based hazards in housing and that we are to provide any reports on lead in the housing.

This impacts us with the Lead-Based Paint Disclosure Form and the Lead-Based Paint Renovation, Repair and Painting Program (RRP). Both are enforced by the EPA.

Lead-Poisoning

LEAD-BASED PAINT DISCLOSURE

To be in compliance with the Disclosure Rule it is our responsibility, as agents, to ensure that the Lead-Based Paint Disclosure is completed correctly and that all parties have signed prior to, but not later than the contract offer date. This is why the sales contract date is at the top left of the form. When the EPA conducts an audit of your office’s Lead-Based Paint Disclosures they are checking to see (among other things) that all of the dates beside the signatures occur no later than the contract date at the top of the page. They are also looking for the form to be correctly completed and that it contains all of the necessary initials.

Federal Law stipulates a purchaser’s or lessee’s right to be informed of the existence of lead-based paint prior to signing a contract or lease. They are then given 10 days to conduct an inspection at their own cost if they choose to.

Errors, incorrect signature dates, missing information or initials on the LBP can result in fines of $11,000 per instance. Further, a seller, lessor, or agent who fails to give the proper disclosure information can be sued for triple the amount of damages. In addition, they may be subject to civil and criminal penalties.  Click here for more information.

How do we protect ourselves, clients and broker/office?

Listing Agents, it all begins with you. Make sure that you have all of the disclosures, including the Lead-Based Paint completed by the Seller and uploaded to the MLS prior to making your listing Active. This will ensure that the Seller and Listing Agent’s signatures are dated prior to any offer. It also permits the Buyer Agent to have the Lead-Based Paint Disclosure signed prior to submitting an offer.

What if you are a Buyer Agent and the Disclosures have not been uploaded?

Prior to submitting an offer, reach out the Listing Agent for a copy of the disclosures including the Lead-Based Paint. This way you will be in compliance with the law. According to the National Association of Realtors, the EPA has sued or threatened to sue buyers’ agents who failed to comply with the disclosure requirements of the act. One recent EPA claim filed under the act involved a single-family residence and included both the salesperson and the broker.

It should be noted that as the EPA levies penalties or fines, these are often not covered by errors and omissions insurance.

LEAD-BASED PAINT RENOVATION, REPAIR AND PAINTING PROGRAM (RRP)

RRP is a federal regulatory program affecting contractors, residential property owners/managers, and others who disturb painted surfaces. It applies to residential homes, apartments, and child-occupied facilities such as schools and day care centers built before 1978.

RRP is aimed at protecting against lead-based paint hazards associated with renovation, repair and painting activities. The rule requires workers to be trained to use lead-safe work practices and requires renovation firms to be EPA-certified. It also requires that the reduction measures taught are implemented at every job site.

Lead+Paint+Removal

As real estate professionals, we often represent investors and rehabbers or, in many cases, we are the rehabbers or flippers. RRP is something that we need to be cognizant about in our day to day interactions with buyers and sellers, and the contractors that they/we employ. Any activity that disturbs paint in pre-1978 housing and child-occupied facilities requires RRP certified contractors. These contractor activities include: remodeling, conducting repairs and/or maintenance, electrical work, plumbing, painting preparation, carpentry, and window replacement. Minor repair and maintenance activities that disturb less than 6 square feet of paint per room are excluded.

The EPA uses a variety of methods to determine whether individuals and businesses are complying, including inspecting work sites, reviewing records and reports, and responding to citizen tips and complaints. Non-compliance can result in fines of $37,500 per day. Click here to learn more.

Things to Consider

What if you have been working with a rehabber who isn’t RRP certified? What if several remodels have been completed and safe-lead practices were not employed? What if a young family moves in completely unaware that their children could be playing in a yard that could be lead contaminated?

Remember, ignorance is not an excuse. If you know of work that is being completed without the proper safeguards and you don’t correct, report or disclose it, then you too could be implicated in a legal case. The law is very clear.

Final Thoughts

As Agents, our responsibilities cannot be over-stated. The Real Estate Notification and Disclosure Rule specifically addresses our responsibilities by requiring us to ensure compliance with the provisions of the law. The penalties are harsh because compliance is critical.

Please spread the word.  Fines are a deterrent for those who disregard the law, but knowledge and lead exposure prevention has so much better an outcome for the children of our city.

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The Importance Of Professional Networking | Mastroianni Consulting

Professional networking is an important element to the success of any business person’s working life.  It can help you meet people, gain information, make useful contacts, find job opportunities, get referrals, and score new business leads.  Through the friendships that you make, it can also become a rewarding dimension to your work life that offers support and encouragement.

If you would like to start networking to increase your professional connections, here are eight tips to help you succeed:

  1. Spend time developing relationships.  A wide network with meaningful connections takes time and effort.  Be ready to invest both to cultivate your network.
  2. Be honest about your talents, abilities, and accomplishments so that others in your network will know the value you bring to the table.
  3. As recommended by Michael B. Fishbein in The Huffington Post, do listen and be willing to help others by connecting with people or by sharing your experience and knowledge.  A professional network should be beneficial for everyone involved, so always be ready to offer assistance and information.
  4. Don’t limit your network to people from just one field.  While you’ll definitely want to form relationships with others in your line of work, look for other networking opportunities such as community groups, charities, civic organizations, or local government.  Having a broad professional network expands your number of contacts and opportunities as well as your interests.
  5. Look for conferences, events, and classes to attend.  Socializing is an integral part of effective networking.  While large groups are often conducive to meeting a lot of people, also invite others to meet you for lunch and dinner occasionally to connect in smaller groups and quieter settings.
  6. Follow up with every new connection that you make.  After meeting them, send an email to them know it was a pleasure to meet them and let them know that they should reach out to you in the event that you can ever help them in any way.
  7. Don’t fall out of touch.  If you’ve been too busy to attend functions or to see people face-to-face, take time to stay in touch via email, social networking, texting, or with phone calls.  Communication is key to successful networking.
  8. Be the one to make the first move.  When there is someone in particular whom you’d like to meet, take the initiative to make it happen.  Reach out to the person with a phone call or email, or introduce yourself at a professional or social gathering.  If possible, ask a mutual acquaintance to arrange a meeting.

Establishing a strong professional network can benefit your business in several ways.  The right connections can open doors, expanding your opportunities.  Professional networking offers you the chance to share your challenges and your triumphs with others who have similar career interests and goals.  You can be useful sounding boards for each other as well as sources of encouragement.  Having people to turn to in times of trouble and to celebrate accomplishments with is invaluable.  And over time, you may find that people in your professional network move on to become your friends.

Mastroianni Consulting is a consultancy firm serving the needs of Realtors and their clients.  Dedicated to Excellence, they provide support services that assist real estate agents to grow their businesses.  For more information and to learn how we can help you become more successful, please contact one of our Client Care Specialists.

You can reach us at (636) 220-7481 or clientcare@mastroianniconsulting.com

Other articles you may find of interest:
5 Ways To Improve Your Client Communication

10 Keys To Having A Great Reputation

The Importance of Mindset

 

5 Ways To Improve Your Client Communication | MASTROIANNI CONSULTING

In business as in life, communication is king.  When it comes to serving clients with excellence, the importance of good, consistent communication practices cannot be underestimated. In real estate terms, contact with clients who are selling a home, buying a home, or both, good communication throughout the transaction process is essential. In addition to keeping your clients informed, communicating lets them know that they are priorities to you and that you are working hard to help them achieve their goals.

When clients feel that you’ve communicated frequently and effectively with them, they are more likely to be satisfied with your service and with their transaction. They will also be more eager to refer you and to use your services again for their future real estate needs. Conversely, if clients feel that you haven’t kept up communication with them, they may not feel as favorably about your service, your professionalism, or their transaction.

Here are five key things that you can do to enhance client communication:

1. Ask your clients for their preferred method of communication.
When you first meet with clients, find out what avenue works best for them. Would they rather be contacted by text, email, phone call, or in person? Is there a certain time of day when they can be reached more easily? If you are dealing with a couple, will one person be the primary contact or do they both want to be included in messages and conversations? Learning what their communication preferences are at the beginning of the relationship will help set you up for communication success.

2. Set expectations on the front end, then follow through.
After you’ve established how your clients like to communicate, let them know what to expect from you. Tell them how often they will likely hear from you, and under what circumstances. For example, if you have clients who are selling a home, let them know how soon you will be in contact after showings with feedback. Or, if you have clients who are looking for a house, let them know how often they can expect to receive new listings from you. It’s also important to give your clients an idea of how quickly you return your own text, voicemail, and email messages. If it’s your practice to turn off your devices when you’re with clients, be sure to tell them this so they won’t wonder why you aren’t answering your phone sometimes.

3. Set calendar reminders or alarms on your phone to prompt you to touch base with clients.
It’s easy to get busy and let communication slide, especially if you don’t have any new information to share. Setting a reminder to contact each client on a regular basis will help you remember to check in. And, even if there’s nothing new to report, you can recap what you are doing behind the scenes on their behalf. For example, if there haven’t been any showings that week, you can tell sellers how you are advertising their listing and what plans you have to generate some interest. If you have buyers but there haven’t been any fresh listings to show them, you can remind them that you are continuing to search for their dream home and will let them know right away if something interesting pops up on the market.

4. Designate a certain time (or times) each day for client communication.
Be proactive with your communication by planning ahead and having a period of time each day that is dedicated to staying in touch with your clients. Ideally, it should be a time of day when you usually aren’t distracted with other phone calls, meetings, or family obligations. Having a designated communication time is also good time management.  It allows you to work more effectively by returning calls and messages all at once rather than being continually interrupted.

5. Listen to your clients.
A critical communication skill, listening to your clients is key. If clients say things to you like “We haven’t heard from you in a while” or “I was just wondering what was happening with our listing/home search,” those are clues that they’d like to hear from you more often.

Mastroianni Consulting is a consultancy firm serving the needs of Realtors and their clients. Dedicated to Excellence, they provide support services that assist real estate agents to grow their businesses.  For more information and to learn how we can help you become more successful, please contact one of our Client Care Specialists.  You can reach us at (636) 220-7481 or clientcare@mastroianniconsulting.com

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