The Key to Sales Success...Relationships

I'm sure you have all heard about the terrible real estate market that exist all around the country these days. The meida has been touting how bad the real estate market is and the huge impact it has had on the stock market and the mortgage lending market. There are a lot of pessimists out there these days.

I've seen this kind of market before and having come from the banking industry we went through these cycles every once in a while where houses just weren't selling and people weren't borrowing money to buy or refinance a home.

What has always held true and is true in the current market is that there are still some realtor's and loan originators out there doing pretty well. But why are they doing OK and a lot of other realtor's and loan originators have thrown in the towel and gotten out of the business? The answer is simple.

Those that are making a living today have developed relationships with the right people and know how to maintain those relationships. I've seen loan originators and realtor's that just sit behind their desk staring at the phone wondering why it isn't ringing. Or, when the phone stopped ringing they eventually figured out they needed to go out and sell but didn't have any relationships developed so they were trying to do it too late.

I have talked to a few successful realtor's and originators recently who all say the same thing. They developed relationships during the good times and maintained them so that when the market took a down turn they had people that knew them and trusted them and kept the referrals coming. This same principle is true in any type of business, not just real estate.

What are you doing to develop relationships in your business? Have you identified those people that are important to your success and what are you doing to build and maintain those relationships? It could be key customers, vendors, suppliers, referral networks or other sources that are key to keeping your business and income from taking a tumble when a down cycle hits. Remember, there will almost always be a market for your product, but if the market gets tight or shrinks, like the current real estate market, then strong relationships will get you through every time.

Post a comment and let me know how building strong relationships have helped you succeed.