The dynamics of relationships in real estate

By: Lindsay Smith

The dynamics of relationships in real estate


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I will take Relationships for $1,000

I started my career as a Real Estate Broker in 1986. I remember a lesson I learned within a few months of working. This life lesson helped to shape my business and is a way of working I have never deviated from. It was the difference between “transactional” and “relationships” when working with people. Let’s dig into what both ways of working with people look like.

A “transactional” way of working is pretty much what it sounds like. It is valuing a transaction as more important than the person that you are interacting with. An example is walking into a coffee shop outside of the town you live in where the barista treats you differently than they would a local. It is simply an exchange, you pay for your coffee and leave with nothing more than a hello or good-bye.

Operating as a salesperson from a position of “building a relationship” changes the dynamics of the exchange. It means that the relationship created through the business exchange is the most important part of the transaction. This can be seen when you visit a local restaurant you frequent. The owner greets you and asks you how your family is, how business is for you and before you leave, they send over a special dessert as a small token of gratitude. In this case, the relationship takes the front seat and the business transaction is just part of the process.
 How this way of doing business has shaped my career has been nothing short of amazing. By placing the client’s interest first and foremost and nurturing a relationship that did not end when we accomplished our business goals, has led me to, in a way, become family friends with many of the people I have worked with. Weddings, funerals, high school graduations, holidays, becoming executors on wills and hospital visits are some activities that have come into my life as a way of building a business based on relationships.
Relationships are never static. They grow and if allowed, expand into other circles, circles you might never have guessed you would become involved in. A decade or so ago I worked with a lovely couple selling their home and buying a condo to downsize into. Years later as we were touching base with them, we found out their son-in-law contracted the West Nile virus and was in a terrible state. As we asked how we could help, we found out he was being financially helped by an organization called Shine Through the Rain Foundation. We learned they offered financial support for people dealing with catastrophic medical issues. We donated to them and were fortunate to meet one of the people who manage the foundation. As we became friends with her and developed a relationship, we agreed to include them in our “giving back” project. This project by Wendy Starr and I ended up contributing, to this foundation and other local charities $22,000 in 2020. We also nominated the foundation to the Durham Region Real Estate and not only did the foundation receive a grant from the Real Estate Association, they also were awarded a grant from the Ontario Real Estate Association. All of this started with a relationship based on a business transaction and over the years has developed into a friendship that has attracted other amazing people and benefited people in need.

You never know where a relationship will take you.

Our business model is one based on relationships first, bricks and mortar second. If you are considering a move, we would love to have the opportunity to meet with you and determine how we might help to create a relationship that can help you and your family. Or, just to meet for a coffee and see where a friendship may take us.

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