“It takes many good deeds to build a good reputation and only one bad one to lose it.” This quote, originally said by Benjamin Franklin, is what all professionals should remember when it comes to conducting business. In every industry, your reputation is what can make or break your career. Real estate is one of the fields of work where reputation is crucial to having a prolonged successful career. Knowing that you are leaving an impression on people can lead to business deals, and open doors to new relationships.
Reputations are one thing that we have control over by creating them for ourselves. As we go through our professional endeavors, our reputation should always be at the forefront of our minds. Every decision that we make can shape the way that others look at us and whether or not they want to collaborate. There are many ethical and moral choices that we in the real estate industry have to make. Our every move is closely monitored and one slip up could cost us a lifetime of success.
For investors, a bad deal is something that you never want to come across. While we are always looking to make a good profit, doing so in an ethical manner is key. In real estate, some of the best marketing is done through word of mouth. When a reputation gets tainted, the news is bound to spread like wildfire within the industry and references are not likely to come your way. Investors and developers need to also be conscious of their property’s appearance. For obvious reasons, if your name is displayed in front of the build but also it shows future tenants that you run a functional facility. Appearance, although not everything, is a major player in reputation.
Having a good reputation is something that everyone should aspire to achieve. Not only can it help boost your business and credentials among peers but it can also maintain good rapport with your community. Verbal marketing is one of the main means of communicating information in real estate. One bad deal or encounter could change the way that you are viewed in the industry. As a best practice, consider every decision before you make it and evaluate every action before taking it.