Tim Leigh, founder of Hoff & Leigh, shares his industry expertise:
Building Strong Relationships: Digging Your Well Before You Need Water
At Hoff & Leigh, everything we do is centered around the relationships we cultivate with our clients. These relationships are the cornerstone of our success, fostering trust that leads to transactions.
Trust is the bedrock of any successful business relationship. It’s what turns a potential client into a loyal partner. Stephen Covey’s book, “The Speed of Trust”, underscores that the better the relationship, the faster the transaction can get done. When our clients trust us, it makes every transaction smoother and more effective.
Digging Your Well Before You Need Water
A critical part of our relationship-building strategy is “digging your well before you need your water.” This means investing time and effort into building relationships with key individuals long before you need to call on them for assistance.
I have a great relationship with my title company. When I have a problem, I can reach out to my contact, and because of the trust we’ve built, he’s willing to go above and beyond to assist me. I don’t have to start building a relationship during a crisis with someone I’ve never met, because the foundation is already in place. In practical terms, it’s about being proactive rather than reactive. By nurturing these connections early on, we create a network of trusted professionals who are ready to support us when the time arises.
How to Build Your Team
- Determine The Game. You can’t assemble the right team if you don’t know whether you’re playing basketball or baseball. Are you specializing in industrial spaces? Land development? Office space? When you understand your industry, you can identify the specific roles and skills required from your team.
- Identify Key Players. Ask yourself, “In order to be the best at my game, what does my team look like?” Determine the essential positions that need to be filled. This could range from and an accountant to a lawyer, a title company or surveyor. Other brokers in your company are also key players who can be there to lend support you or offer advice.
- Start Building Relationships. The concept of “7 marketing touches” is the idea that a prospect needs to be exposed to a marketing message at least seven times before they take action. I personally think it’s more like 13 touches. Are you keeping in contact with your network outside of the times you need to call on them? Do you grab coffee or lunch, or text them just to check in? These “touches” will not only keep you in contact with your network, but strengthen your working relationship.
As you can see, investing time and effort into building relationships with key individuals long before we need their assistance is crucial. We can then navigate issues smoothly and effectively, leveraging our established relationships to achieve successful transactions.
Take the first step in building a relationship with Hoff & Leigh and contact your local broker today.