How many times have you heard the phrase “In real estate, it’s location, location, location”? Countless times…right? It’s gotten to be a nearly universally accepted phrase.
While location is certainly important, there’s something even more important than location.
What ‘this’ is…
Would you be surprised to learn that it’s…Relationship?
“Location is important, but the people behind the deal are much more important than the location.” – Donald Trump
That’s right, “relationship” trumps “location” every time. And, in the business of real estate, relationship can easily make the difference in whether or not you can get that location you want…or even become aware of an opportunity in the first place.
“It’s not location, location, location…it’s relationship, relationship, relationship.” – JT Foxx
Miss this, and you’re playing at a disadvantage
If you don’t have great relationships (not just relationships, but great relationships), then you’re playing at a disadvantage. And, you’re likely missing out on the properties, notes, and deals you’d like to have.
The management team at National Syndication Network, LLC (NSN) makes it a top priority to build strong relationships with buyers, sellers, and other partners in our network. And, it’s one of the main reasons we’re sought out.
Geraldine Barry (President of the San Francisco Bay Area’s largest real estate investment association – SJREI) invited me to talk on the “importance of relationships” at their premier event of the year. Geraldine has her fingers on the pulse of the marketplace, and she knows NSN has been growing like crazy…because of relationships. She asked me to describe how “relationships” have played such a key role in building our business.
“Building business relationships is the single most important thing my team at NSN has done to build our business so quickly.” – Don Roberts
What it takes
Building business relationships takes work…but, it’s well worth the effort. I’ll talk more about this extremely important topic in a future post.
What are your thoughts on building business relationships?