Real estate is a very unusual business where fierce competitors must cooperate with each other in order to be successful. Can you think of another business that is like this? I can’t!
Here are some of the reasons why I think that real estate agents find it to be in their own self-interest to be helpful to each other:
- It’s the only way an agent gets paid. Real estate agents are only paid upon the successful completion of a transaction. Rarely does the listing agent also represent the best buyer for their client’s home. This means agents musts cooperate and share information with other agents. This need to share is why both the MLS and TAN exist today.
- People like to help each other. Agents are people too. One of the most compelling things one respected person can say to another is: “I need your help.” It’s human nature to be helpful. (Did I say agents are humans too?)
- Helping makes other agents want to do business with you. Sharing information, whether a pocket listing, a motivated buyer need or recommending a contractor, endears other agents to you. By sharing you get back so much more than you give.
- Clients want it. A homebuyer’s biggest fear is that they miss that “best” home and a homeseller’s biggest fear is that they will miss that “best” buyer. Plus, clients look to their agents as information resources. Top agents sharing information with one another truly is in the best interest of their clients.
But what about the fear: “If I share information with other top agents I might lose my client?” Fear not. By posting your need or response on Top Agent Network you memorialize your client relationship for all other member agents to see.
Healthy coop-etition is good for agents and for their clients. Bottom line, it’s good for business no matter how you look at it.