The ability for a Real Estate professional to forge a strategic partnership is critical for continued financial success in an ever-changing and highly competitive environment.
Below find the top five reported benefits Real Estate agents aim to derive from new partnerships:
1. Acquire New Customers
Increased market share is the leading reason Real Estate agent seek new partnerships. Sixty Eight percent (68%) acquiring new customers as a main benefit of effective alliances. Agent can participate in new vendor relationships and create ideal opportunities which results in increased market share and profitability.
2. Expand Geographic Reach
Expanding distribution is among the top three benefits sought by agents entering into partnerships, with Thirty Two (32 %) of agents naming: “expanding geographic reach” as a primary goal of their partnerships. This is closely linked to accessing new customers and revenue channels, while geographic expansion, is often considered a first step toward new growth.
3. Increase Revenue
Sixty Six (66%) increased revenue as a primary advantage of successful partnerships. When strategic objectives align and their resources compliment each other, business partners can provide each other with new market access and in turn, new revenue streams.
4. Access New Technologies
Partnerships are often an ideal way to access new technologies without depleting resources. Just over Twenty Six (26 %) of agents, list: “gaining access to new technology” as a benefit of strategic partnerships.
5. Add Sharing Resources
Along a similar theme of accessing new technologies, businesses also enter strategic partnerships in order to pool resources. Current data reveals Twenty Three (23 %) of agents state: “sharing resources” as a primary objective of partnerships, which effectively advance them on their path towards innovation.
- The above 5 reasons highlight why it’s important to build a strong team behind your organization. This includes vendors such as: Lenders, Title Companies, Home Inspectors, Appraisers, Home Warranty and Insurance. Your clients rely on your expertise, guidance and established relationships with industry professionals.
This approach and business philosophy, increases your credibility and profile when you surround yourself with such a powerful network. An additional benefit to this business principle will increase value and result in more referral business and build loyalty in your client network.
Activated Agent has created a unique partnership page built into your website, to help your clients with the services they need throughout the entire Real Estate transaction process.