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Become the GO-TO Person in Real Estate: Network Using Your Vendor List! · The Real Estate Agent Playbook

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  Do you have dreams of becoming that go to real estate agent?
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  This is something that I talked to a ton of real estate agents about and they all
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  want to make it happen, but sometimes they just struggle getting there.
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  Today, we're going to dive into exactly what strategies I use to build a vendor
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  list, leverage that vendor list to be the go to real estate agent in my community,
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  but more importantly, for those other small business owners in my community.
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  Do me a favor and hit that like button if you're ready to take your vendor list and
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  your networking skills to the next level.
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  I'm Jeremy Kane with the Real Estate Agent Playbook.
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  Excited to dive into this as I've done this on multiple occasions
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  with my vendors, with my industry partners, and it's a very
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  exciting way to build business.
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  So I'm excited to share that with you.
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  If you like what you hear, definitely give me a thumbs up.
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  And if you are interested in more content like this, be sure to subscribe
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  to the channel, but let's get into it as we kind of break this down.
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  The power of networking is unmatched, especially right now, as you may have
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  heard, you know, the Zillow changes and you know, the ads, Facebook ads
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  and things like that, they're always changing and they're becoming less and
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  less consistent providing true leads.
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  And so as an agent, we need to make sure that we're.
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  Having conversations and kind of generating our own.
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  We can't always rely on technology just to provide our income because it changes
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  so much that it's hard to dial in.
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  Building these relationships with these people in the industry is absolutely
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  the number one thing you should be doing as the market slows lenders and
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  inspectors and all the people that you work with on a day to day basis are less
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  busy because there's less transactions.
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  So now's a perfect time to dive into this, but it's also networking in general.
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  As a real estate agent, you're about 15 percent real estate, kind of law,
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  kind of that, and about 85 percent marketing because if you don't have
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  clients to practice, the, the law and the real estate part of it.
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  Then you get in trouble.
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  So, let's really dive into how this works.
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  So networking is key.
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  Everywhere you go, you should be having networking on your brain,
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  trying to have another conversation with a new person, and doing that.
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  My introverts.
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  This is, you know, obviously something you're like, Oh, nope, I'm not networking.
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  Once you hear that networking word, you're out.
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  You need to make sure that even if you're an introvert and you are in these
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  situations where there's other people, maybe just have a different strategy
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  to pull them in, maybe, you know, pull them aside and say, Hey, I'd love to
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  pick your brain, go to coffee, you get in that one on one and you're a lot
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  more, you know, dialed into that and that's where your energy comes from.
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  So, understand I'm an extrovert, but this is also very important
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  as an introvert as well.
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  So you need to take to heart this phrase.
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  It's not what, you know, it's who, you know, absolutely next
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  level for your real estate career.
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  You got to know the people that are connecting you.
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  It's not like, you know, you got to know the starting quarterback
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  of the football team or whatever.
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  It's just these people that are dialed in, right?
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  Everyone's going to have a different interest, right?
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  If you're, you know, a sports guy, maybe it's, you know,
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  something to do with sports team.
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  But if you're not, if you're.
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  You know a librarian or you're into politics or whatever know those key
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  people who are connected, right?
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  It doesn't matter if they're famous, but if they you know are constantly
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  connected That's where we really dive in and we want to make sure that we're
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  making those connections with those people that are having conversations Therefore
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  you don't have to have the conversation all the time with the potential,
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  you know buyers or sellers, right?
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  It's so much easier when it's like hey You know Johnny told me that
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  you were the best real estate agent.
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  We're thinking about buying a house in X, right?
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  Boom, that's way easier than hey, what's your name?
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  What's my name?
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  Small talk back and forth.
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  Oh, I'm a real estate agent Oh, I'm a real estate agent, whatever Okay next
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  Conversation like you don't you don't want to spend a lot of time with that and
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  you don't want to go in any Conversation with just real estate on the brain but
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  in these situations when you're kind of on the prowl and networking and you're
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  trying to build that business Oftentimes we come off very commission breathy.
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  So we want to make sure that we're connecting with connectors and our
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  number one intention is helping them.
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  So why a vendor list?
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  This is a common term used in the real estate industry.
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  It's very important to understand that you as a real estate agent and with your.
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  Conversations about homes and personal residence and things people are going to
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  ask you for HVAC contractors and carpet cleaners and you know this and that and so
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  that's where we really want to make sure that we have, you know, the go to people.
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  So building that vendor list is super important, but a lot of
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  agents just build this vendor list.
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  They don't ever nurture it.
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  They don't ever do anything with it, and they just send clients to it, right?
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  You have to have conversations.
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  And build relationships with these people so that you can
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  actually get reciprocal business.
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  And it's not going to be, you know, 100%.
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  It's not, Hey, I'm going to go to a different lender
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  because I want to get leads.
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  Like that's, that's not going to happen.
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  Like lenders don't just produce leads out of nowhere.
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  Like.
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  That you can't produce.
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  So, you want to build that relationship and once you find that relationship and
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  you're building business together, almost as a, as a unit or a group, if you're
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  in a networking group or whatever, then that's where it really comes to play
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  and you're bouncing stuff back to them.
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  They're, they're bouncing stuff when they can back to you.
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  And also understand that, you know, the whole purpose of this
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  is to get referrals and do that.
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  But when you give an HVAC contractor referral, their profit is probably,
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  I don't know, 150, 200 bucks a call, depending on what it is.
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  You know, if it's just a cleaning or whatever.
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  When they give a referral to you, profit margins much larger as you know.
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  So make sure you keep that into perspective when you're
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  like, Oh, I've given them 10 leads and they've given me one.
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  Well, you probably made more from the one than the 10.
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  So we have to really step back and be careful because we're building
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  these galvanized relationships.
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  We're not, we're not just building this transactional feeling.
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  We're building lifelong relationships with these people.
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  That we already know, like, and trust that we know when we send, you know,
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  Johnny the plumber out to Susie's house that you just sold that has a leak
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  that he's going to take care of him.
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  He's going to serve some time.
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  He's going to be fair and ethical and he's going to do the job right.
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  And so that's where you, that's where you really start to build that relationship.
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  And I've had this happen several times.
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  Like I have somebody call in and say, Hey, I need to, you know,
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  have my furnace cleaned, right?
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  Well, the furnace guys like, well, we're booked out for two weeks.
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  I call and say, Hey, you know, just tell him that Jeremy sent you, Hey, Jeremy
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  sent me, he's listing my house next week.
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  You know, give him some context.
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  I need you out here.
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  You know, is there anything you can do?
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  Yeah, absolutely.
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  We'll get you in.
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  Boom.
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  And so it's, again, it's not about what you know, it's about who you know.
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  So utilize that and train your clients, especially if they're making the call
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  and you're not making the introduction to kind of name drop and get in
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  there because you know, that vendor has a serious relationship with me.
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  Right where I'm going to send him multiple deals, you know, or, you know, leads per
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  se per year where this cold call, you know, coming in doesn't know where it's
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  from, you know, that that's not the same.
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  So building that true valued relationship, also knowing.
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  Right.
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  We must remain ethical when we're doing this because you don't want to
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  just send your, you know, sister's company out there and, you know,
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  maybe they don't do a great job.
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  Right.
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  So your vendor list needs to also understand what your standard is, what
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  your standard of care is because real estate agents are huge relationships
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  for any industry that has to do with the home and others, to be honest.
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  And so if you.
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  You know, if they know that you're going to send them more and more business,
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  and they know that that's a key relationship, they're going to make sure
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  that they're taking care of your clients.
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  However, some people just aren't that way.
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  Some people just don't know what they're doing.
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  Some people are smoking mirrors.
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  So make sure that you're vetting these people, and you know the service and
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  care, and you have a standard with them.
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  You know, I've had to tell vendors, sorry, like it was a good run,
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  but you're out because of X, Y, Z.
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  And then they're like, Oh, okay.
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  And maybe they adjust and maybe they come back in or maybe they don't.
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  So the next thing is once you have the vendor, let's pour into it, put them in
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  situations to network with other people.
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  You know, business mixers, happy hours, all of those things are great
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  ideas to invite people to, right?
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  And maybe you just have a vendor happy hour where, you know, people are meeting
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  new people and you're kind of the, the cog in the wheel for them to get into that,
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  bring themselves out of, you know, work mode and meet other people that they can
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  also, you know, build their business with.
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  And so that's a huge thing.
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  And when you're doing that, use social media, blow it up, make sure.
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  You know, you have these groups of VIP client group is a kind of a phenomenon
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  that, you know, is, is very difficult to maintain as an agent, but you're offering
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  little discounts, you're driving business.
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  And then you say, okay, all these people are gonna be at
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  this business mixer, right?
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  And maybe it's not even client facing.
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  Maybe that's a B2B business mixer, right?
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  It's just people who are professionals that can help each other out.
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  You know, maybe connect not about work, whatever that is, because then you're
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  building a real community versus just the business transactional feel within your
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  vendor list, as well as your client list.
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  Cause we know how important it is over here, but do we take that same thing and
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  do we incorporate it into our vendor list?
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  Usually, probably not leave a comment below.
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  If you have that one vendor who's absolutely crushed it just put their
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  industry obviously You don't have to name him if you don't want to he's
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  your electrician or whatever But what what industry have you absolutely
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  capitalized and flourished a relationship?
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  That's been Very lucrative for both parties.
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  Put that industry below in the comments.
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  And then finally, once we have this, you must audit it.
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  You must review it.
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  You must make sure that people are still in the business.
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  There's nothing worse than getting a referral.
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  They call somebody and they're like, Hey, you know, Jeremy gave
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  you me your name as electrician.
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  Oh, I quit being an electrician two years ago.
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  Right?
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  What's that say about the rest of the thing?
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  If you're not current in your vendor list, you can get called
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  to the pavement real quick.
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  And it's a bad look.
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  So make sure you're keeping it updated.
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  Those business mixers on a regular basis will really help make sure,
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  you know, people are kind of staying in and bought in, but you want to
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  make sure, you know, also within the industry, this is kind of crazy.
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  It just kind of came to me, but if you, you know, have this lender and you're
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  sending them business, you haven't sent them business for a while, or maybe
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  they're that third lender on your list.
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  And, you know, you're sending it over and then someone calls and says, Hey,
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  you know, Jeremy told me to call you and they're a real estate agent now,
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  you never know, you could lose a deal.
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  So make sure that you're keeping up to date with it.
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  Make sure that you're still, you know, reciprocating as much as you possibly can.
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  Having those conversations, making sure those connections are great.
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  Also, you know, people change, right?
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  So general contractors, this is my favorite one.
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  All handymen become general contractors within a year.
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  A month to three years after they start the business.
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  If you have a true handyman and they're still in the business five,
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  10, 15 years later, absolutely, you know, hold onto them, but you
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  don't want to send, you know, have a general contractor have to take a
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  call from their busy day and say, Hey.
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  I have to get smoke alarms put in my house.
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  Jeremy told me to call you, right?
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  Because that's a negative effect on, you know, from the vendor, right?
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  Well, Jeremy, why are you having me waste 15 seconds, 20, 30 seconds on a call?
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  Because as those entrepreneurs build up and they get busier, you want to make sure
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  you're updating the vendor list to know when to call them and why to call them.
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  And so you can do that in multiple ways.
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  Spreadsheet is probably the best way to write it down.
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  But obviously keeping up to date with them, you'll kind of know.
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  But, you know, as always, once you get a huge list, it's hard
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  to keep track of everyone.
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  So I hope that helped build that vendor list.
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  If you are interested, I have a free mini course on connecting
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  with the connectors, and it kind of goes into this a little bit.
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  As far as finding those uber connected people, because it's
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  a bonus if you have a client.
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  That can be on your vendor list.
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  Then you have a ton of opportunity to really expand that relationship
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  and take it to the next level.
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  Please like comment, subscribe, share the podcast, and we'll talk to you soon.