Real estate is a contact sport figuratively speaking, and every good contact sport usually requires a team. A career in real estate is not any different. Having a Referral Team that shares opportunities with each other is imperative in growing one’s business. You don’t have to go at it alone. Here are five real estate professionals that you need on your team to grow your business and career.
Professional Number One:
The first professional that you need on your real estate team is not someone that you would probably think about, but it's The Accountant. You need an accountant on your team, not only to go over your finances, but also to stay on top of your particular bills and bookkeeping. An accountant is the first person that prospects usually go to when figuring out their finances. If someone is looking for a property, they might ask their accountant for advice. So it's a good person to have as a point guard for your referral team.
Professional Number Two:
The second professional that you want your team is an obvious one, The Mortgage Professional. About 90% of people who are purchasing a home require financing. Most prospects are going to go to a bank and they're going to get assigned a loan professional. So, if you have a good relationship with a lot of loan professionals, you are setting yourself up for many opportunities. The real estate agent and mortgage professional have a very cohesive relationship. You can also partner with a mortgage professional to split marketing costs. You can get up to 49% of your marketing covered by a loan professional (in most states, check the rules in your state).
Professional Number Three:
Professional number three is a must-have. You need at least one Contractor on your team. We have to add immense value to our repertoire for our clients and a contractor can definitely help that happen. If you have the vision to create an experience for your clients, a contractor can make it happen whether it be creating the bathroom of their dreams, the kitchen of their dreams, or just turning a bleak space into a vibrant one. A contractor will bring any prospect back to earth. Listen, we live in the "HGTV world". It's an experience that you definitely want to be able to provide for your clients. They may not be able to always refer you clients, but they can give you referral fees for sending them clients, which is awesome.
Professional Number Four:
Whether you're in an Attorney state or not, you need attorneys on your team. At a minimum, you will want Estate Attorneys, Divorce Attorneys, Real Estate Attorneys, and 1031 Exchange Specialists. These attorneys are potentially great referral sources for your clients and if you develop a great relationship with them, you will receive some solid deals from them as well. Personally, in my business, I've had great experiences with this. Recently, I actually had three deals close through an estate attorney that I followed up with. It is a good idea to make them the backbone of your real estate team. Attorneys are a must.
Professional Number Five:
Sometimes you get clients that really want to buy a house, but they can't, due to their credit not being up to par. Why not send them to a Credit Repair Specialist? Guess what, there's a lot of people who go to a credit repair specialist just because they need to get their score up in order to buy a house. If those individuals are not represented by a Realtor®, now you have an in. When it comes to collaborating a credit professional is a great option.
So there you have it – those are the five professionals you need on your Real Estate Team in order to generate business and to add immense value to your clients. Now it’s time to go out there and make the connections that will change your business forever.