Your Network is the Service.

I saw a surprising social media post recently that listed all the professionals involved in a successful real estate investment. The list included the agent, lender, attorney, a CPA firm, two contractors, and insurance professional and even a property manager.

It was a good reminder of something I've observed throughout my career: clients often think they're hiring an individual, when in reality they're benefiting from an entire network of expertise.

Most agents spend a great deal of time developing their market knowledge. They learn contracts, financing, negotiation, marketing, pricing strategies and all the other skills required to build a successful business. Those things matter as they're obviously fundamental to the profession.

What receives less attention is the network that experienced agents build over time. I'm not talking about networking in the traditional sense.

I'm talking about trust.

Who is the lender that consistently performs when a transaction becomes difficult? Which attorney can explain a complicated issue in a way that actually helps a client make a decision, without spooking them? Which contractor can be counted on to return a phone call, show up when promised and do quality work?

Those relationships aren't built overnight. They are developed through years of transactions, successes, mistakes, referrals and shared experiences. In many cases, they become the most valuable things an agent has to offer.

Consumers today have access to more information than ever before. They can research neighborhoods, compare mortgage options, estimate home values, read reviews and browse listings from virtually anywhere. That's a positive development as better-informed consumers generally make better decisions.

But access to information hasn't made real estate less complex. Every transaction has its own set of circumstances. We all know about financing changes, the inspection issues that arise and the family dynamics that enter the picture. All of these can create timeline shifts from unexpected problems that surface. The details may be different, but complexity has a way of finding its way into almost every transaction.

That's where experience often looks different than people expect.

It's not always about knowing the answer, it's about knowing where to find it.

Over the last year, I've observed something interesting in the brokerage business. Many of the strongest agents have continued to grow their market share while a number of agents have seen their business decline. You can see it in the production numbers, the transaction counts and the market share data.

At first glance, that seems counterintuitive. Consumers have more access to information than ever before. Listings, valuations, neighborhood data and mortgage information are available with a few clicks. But that may be exactly the point.

When information becomes widely available, people become more selective about where they seek advice.

The agents who continue to thrive are often the ones who provide something beyond access to information. They bring judgment, invaluable experience and trusted relationships. They know who to call when a problem appears and they know how to assemble the right people to help a client navigate a complicated situation.

In many ways, the industry's most successful agents aren't winning because they know more facts. They're winning because they know how to help clients make better decisions.

The best agents I've worked with over the years weren't trying to be experts in every aspect of the transaction, they surrounded themselves with people they trusted. They knew who to call when a title issue appeared unexpectedly. They knew who could help a client navigate an estate sale. They knew which professionals would treat their clients with the same care and attention they would provide themselves.

Clients may never fully see that network and in many cases, they shouldn't have to. The work happens behind the scenes so that the problems get solved, the questions get answered and resources "magically" appear when they're needed.

The client simply experiences a smoother transaction.

That's one reason I've never been particularly concerned by predictions that technology will replace experienced professionals. Technology has always been excellent at improving access to information. What it has been less successful at replacing is judgment, trust, relationships and experience.

Those qualities tend to become more valuable when the stakes are high.

Buying or selling a home is never just about a transaction. It's often tied to a career move, a growing family, retirement, divorce, an inheritance or a major life transition. Clients don't simply need information in those moments. They need perspective, they need guidance and they need access to people who can help them move forward with confidence.

One of the main distinguishing characteristics of experienced agents is not simply what they know. It's who they know, who they trust and who they are willing to introduce to their clients. It’s part of the luxury experience, not an extra service that sits on the side of the transaction.

In most cases, it's the most valuable thing clients are actually hiring.

Continue Reading

Many of the challenges experienced agents face are connected. Growth affects hiring. Hiring affects team structure. Team structure affects leadership. The articles below explore related ideas that may be useful as you think through your own business.

• The Inflection Point: When Success Stops Working
• Why Most Team Structures Fail
• Choosing the Right Coach: What Growing Agents Should Look For