As I was listening to Jay Abraham the other day, I heard story after story about how he’d used strategic alliances and joint ventures to make millions of dollars.
Then I had one of those V8 moments. (Where you slap your head and say, “Now I get it.”)
I realized I was leaving money on the table by not looking creatively at how to leverage relationships in my real estate business.
So I came up with an idea…a 3-way win-win-win. Maybe you’re already doing it or know someone who is, but if it’s a new idea to you, then give it some thought.
Spice Up your Strategic Alliances Using “Special Offers”
First of all, you have to understand the power of strategic alliances. A strategic alliance is a partnership with a business person who has clients who could be your clients, and visa versa. Many agents think of their lender as a strategic alliance partner.
But in my experience, most lender-REALTOR relationships only go one way… the agent giving leads to the lender, but seldom getting anything back from the lender. That’s because lenders get most of their leads from other agents and they’re not free to refer those leads to you.
But what about your plumber? She knows home owners, and I need to meet home owners. Perfect match. And she needs to meet new home owners who might need plumbing help. I know home owners, especially new home owners. Perfect match.
Now if we can figure out how to introduce one another to each other’s database in a way that benefits both of our databases, we’ll have a strategic alliance.
For example, I could provide an exclusive rebate (if legal in my state) to her plumbing clients. Or I could provide a free book or other “bait” to entice them to contact me to create more leads for my real estate business. In turn, she can provide a sharp discount on her plumbing service for my database. I win. My plumber wins. And both of our clients win.
Once you’ve set up one of these alliances, you can do it multiple times with multiple business partners, including your carpet cleaner, electrician, dietician, painter, auto mechanic, and so on. It takes a little creativity, and you may need to try it a few times to work out the kinks in the system, but if it can work for a multimillionaire like Jay Abraham, I’m pretty sure it can work for you.
Be consistent. Be bold. Be smart. Linda Schneider is a real estate business coach for smart real estate agents who want to be more powerful in their business. Drop by RealEstateBusinessCoaching.com for more about selling skills and real estate marketing ideas to take your business to the next level.