Watch the On-Demand
Partnerships in real estate can be incredibly fruitful but why do so many of them fail? Is there a way to make a 50-50 partnership work by making use of each partner’s individual strengths. On this episode, Greg and Matt talk with business partners Lori Little and Lori Adams, who built their own successful real estate business. They provide insights on creating teams, growing a database, and successfully working as partners.
Takeaways + Tactics
Integrating your personal Facebook and business Facebook is a great way to show off your personality and get the best of both worlds.
Business partners can have different ways of doing things but sharing the same core values is the most important thing.
People want the kind of marketing that doesn’t make them feel forced to see something. That’s why educational marketing is so effective.
You can’t just partner with someone because they are good at selling, you have to have someone that’s going to sell like you do and care about clients the way you do. - Lori Adams
Matt, Greg and the two Loris kicked off the podcast with a question from a listener about whether it’s better to start a business Facebook page or do business through their personal Facebook page. Greg and Lori agree that integration is a better idea because business pages can make it hard to showcase your personality and you won’t be able to keep family and friends updated on how your business is doing.
Lori Adams and Lori Little also described their business structure, which consists of a transaction manager, listing coordinator, listing manager, buyer’s agents and a client care coordinator. The two Loris met in 2006 working in a corporate environment and then they started their business in 2010.
On the subject of how they work successfully as partners, Lori Little said they are different but they do believe in a lot of the same things. She said partnership goes beyond being good at selling, it’s about sharing the same values. They also discussed how to build trust in a partnership so that it doesn’t become an issue.
Next, Matt asked about how the two Loris managed to implement their business plans. The ladies said that they began hustling by farming and mailing. With more money, they were able to add online tactics like Zillow and Vyral Marketing.
As the chat winded down, they discussed
What ultimately makes a business partnership work is understanding your differences and knowing that you each won’t contribute to the business in the same way. For the business process to work, trust has to be at the center of that relationship. Work with a person who shares the same values and wants to help clients in the same way you do.
Guest Bio
Lori and Lori are a real estate duo working in California’s Central Valley.
Individually, they are each known as leaders in the real estate industry, and together their success is highly respected by peers and clients alike. They are affiliated with numerous professional organizations including the National, California and Central Valley Associations of Realtors®, as well as the Multiple Listing Service. To get in touch with Lori and Lori call 209-607-9606.
Click here to download your free PDF, Greg’s Favorite Scripts, featuring scripts for buyer and seller lead follow up, price reduction and objection handler scripts and much more.