Login
iscover
We have all probably heard the sayings, “giving starts the receiving process” or “we have to give to receive”, but what do these mean to us and how do we apply them in the world of real estate?
Often, success in our industry is seen as a numbers game, focusing on the most transactions and fastest negotiations. Yet, if we take a deeper dive, a principle underlies true, lasting success in all sales professions: the law of giving and receiving. This universal law, rooted in the idea that energy begets energy, suggests that to receive more of something, whether tangible or intangible, you must first give or invest what you have.
This article explores how we, as salespeople, property managers, leaders and support staff, can apply this principle to enhance our careers and businesses.
Investing in relationships
At the heart of life, say some, and especially in the real estate industry, say I, you will find the best of relationships. With this in mind, it makes sense to focus on this “heart”. Therefore, if you want to cultivate trust and respect, you must first extend your trust and respect to others. This means being transparent, reliable and consistent in your dealings. When clients and colleagues feel trusted and respected, they are more likely to reciprocate, leading to stronger, more fruitful relationships.
For example: Consider a property manager who wants to build a trusting relationship with tenants. By addressing tenant concerns promptly and maintaining open lines of communication, the manager creates trust and reliability. In return, tenants are more likely to respect the property and maintain a positive relationship with the manager.
Sharing success
Success is not just a personal achievement but a collective one. To attract more success using the law of giving and receiving, you must give and share your success with others. This involves passing on and sharing your knowledge with new team members. By helping them be successful, you are essentially replicating and duplicating the best of yourself, helping both that person and your team be successful. It’s a wonderful win-win-win. The third win is the client receiving your high standards through another person.
For example: A successful real estate agent has aspirations to be a business owner, therefore, they start mentoring new agents to assist them in their growth, success and self-sufficiency until they have enough capable people to create a team. By investing time and expertise in others, the agent creates an environment where everyone thrives, ultimately leading to everyone achieving their goals.
Giving value
It goes without saying that within our industry, value is a currency of its own. Whether it’s providing the finest experience and going the extra mile for a client or offering valuable market insights, giving value ensures you receive value in return. In his book, The Thank You Economy, Gary Vaynerchuk shares his client value formula of give, give, give, and then ask. In summary, it’s about giving so much value in advance that when you eventually ask for the business, it’s a natural yes.
For example: For three, six or even 12 months before a client is ready to go to market, a salesperson provides a home owner with ongoing monthly market analyses and property sale insights to help them understand potential property values well before they are ready to sell. The home owner appreciates this effort and is more likely to not only list with this salesperson, but also refers others to them, generating more business opportunities. Giving value starts the receiving process.
The science and philosophy behind it
The concept of giving and receiving is not just philosophical, but is supported by various principles in psychology and business. Positive psychology suggests that acts of generosity can increase wellbeing and happiness, creating a positive feedback loop. Similarly, in business, the principle of reciprocity, where giving leads to receiving, is well-documented by many of the world’s greatest leaders, like Gary Vaynerchuk, Richard Branson and Warren Buffet.
Practical tips for real estate professionals
Here are the five main areas we can give of ourselves to assist in our receiving process and long-term success.
1. Energy: Maintain a high level of energy and enthusiasm in your work. Positive energy attracts positive outcomes.
2. Trust: Always act with integrity and transparency. Trust is the foundation of all successful relationships.
3. Knowledge: Mentor others and share your expertise. Knowledge sharing leads to mutual growth.
4. Value: Go above and beyond in your service. The more value you give, the more you receive. Remember: give, give, give, and then ask.
5. Humility: Be humble and gracious by recognising and celebrating the achievements of others. Acknowledging success creates a culture of positivity and motivation.
Decide to be a giver
In the wonderful world of real estate and property, where relationships are the foundation, the law of giving and receiving is a powerful principle that can drive lasting success. By investing and giving your energy, trust, knowledge and value to others, we can create a positive cycle and a genuine win-win-win that brings greater rewards for everyone. Embrace this principle and watch as your career and relationships flourish in ways you never imagined. Finally, take a look at all the histories of successful people around the world. Most, if not all, of them are supreme “givers” of humanity, not takers.
Decide today to be a “giver” and in every moment ask yourself, “Is what I am doing right now giving or taking?”
Shane Kempton is CEO of Harcourts Western Australia.
You are not authorised to post comments.
Comments will undergo moderation before they get published.