How do you strengthen relationships with your commercial real estate partners?

1 Know your partners

The first step to strengthening your relationships is to know your partners well. This means understanding their goals, preferences, challenges, and expectations. You can do this by conducting research, asking questions, listening actively, and providing feedback. By knowing your partners, you can tailor your approach, offer solutions, and avoid conflicts.

2 Add value

The second step to strengthening your relationships is to add value to your partners. This means providing them with benefits, opportunities, and resources that help them achieve their objectives. You can do this by sharing market insights, referrals, leads, best practices, and innovations. By adding value, you can demonstrate your expertise, credibility, and generosity.

3 Communicate regularly

The third step to strengthening your relationships is to communicate regularly with your partners. This means keeping them informed, updated, and engaged throughout the project or transaction. You can do this by using multiple channels, such as phone, email, text, or video calls. You can also use tools, such as newsletters, reports, dashboards, or surveys. By communicating regularly, you can show your transparency, responsiveness, and collaboration.

4 Appreciate and reward

The fourth step to strengthening your relationships is to appreciate and reward your partners. This means expressing your gratitude, recognition, and satisfaction for their work, contributions, and results. You can do this by sending thank-you notes, testimonials, reviews, or referrals. You can also use incentives, such as bonuses, commissions, discounts, or gifts. By appreciating and rewarding your partners, you can build your loyalty, reputation, and referrals.

5 Resolve issues

The fifth step to strengthening your relationships is to resolve any issues that may arise with your partners. This means addressing problems, complaints, or disputes promptly, fairly, and professionally. You can do this by listening to their concerns, acknowledging their feelings, apologizing if necessary, and proposing solutions. You can also use mediation, arbitration, or litigation if needed. By resolving issues, you can prevent escalation, damage, and loss.

6 Seek feedback

The sixth and final step to strengthening your relationships is to seek feedback from your partners. This means asking for their opinions, suggestions, and ratings on your performance, service, and value. You can do this by conducting surveys, interviews, or focus groups. You can also use metrics, such as satisfaction, retention, or referral rates. By seeking feedback, you can improve your quality, efficiency, and differentiation.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?