I recently worked with one of our agents who was extremely frustrated because he was on the verge of closing a deal, with the tenant scheduled to move in the next day. He needed just one document from the landlord, and despite calling, texting, and emailing the listing agent multiple times over a 24-hour period, he received no response. When the agent finally did respond, their excuse was, “I didn’t reply because my seller’s attorney hadn’t gotten back to me.” A quick call, text, or even an email update would have taken mere seconds and significantly reduced the anxiety for everyone involved in the transaction.

Successful business relationships are built on effective communication, and this is particularly true in the commercial real estate (CRE) sector. A lack of communication can result in misinterpretations, hold-ups, and even unsuccessful deals.

Here’s why keeping good communication with your clients and all parties involved should be your first priority:

1. Develops Trust: Honest and open communication with your clients and other brokers helps to build trust. They are more likely to trust your advice and judgment when they know they can count on you to answer their questions and keep them updated.

2. Prevents Misunderstandings: Explicit and succinct communication aids in avoiding misunderstandings, which can result in expensive errors or delays. You can prevent expensive mistakes and keep the transaction process running smoothly by making sure everyone is in agreement.

3. Exhibits Professionalism: A professional CRE agent is known for their effective communication skills. Your dedication to provide first-rate service is evident when you communicate in a clear and timely manner.

4. Increases Customer Satisfaction: Happy clients are more likely to recommend you to others and return back. Making communication a top priority can help you develop a solid network of referrals and increase client satisfaction.

5. Promotes Collaboration: In order for all parties engaged in a transaction to work together, open communication is necessary. You can make sure that everyone is working toward the same objective by keeping them all informed.

Here’re some tips on how to keep an effective communication:

1. Actively Listen: Pay attention to what your clients are saying and follow up with inquiries to get clarification.

2.Be Responsive: Provide prompt, courteous responses to your clients’ questions.

3.Employ Simple and Clear Language: Steer clear of technical phrases and jargon that could confuse your clients.

4.Be Transparent: Be forthright and truthful about any difficulties or possible problems.

5.Use Technology: To stay in touch with your clients, make use of technology like email, phone calls, and video conferences.

You may enhance your reputation, forge closer bonds with colleagues and clients in the commercial real estate industry, and eventually grow your company by prioritizing communication. Keep in mind that saying, “What we’ve got here is a failure to communicate!” might be very expensive.

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Joe Killinger
Joe Killinger

Written by Joe Killinger

I build real estate companies & create content to show you how to grow your business-Link To Channel - https://www.youtube.com/c/JoeKillinger?sub_confirmation=1