With the new year upon us, now is the perfect time to start thinking about new relationships. Every agent and broker has worked hard to build a network of vendors and real estate-adjacent businesses to liaison with, but with how fast the industry is changing it is easy to miss chances for new connections or services to add to your business. And in such an independent industry, the when, where and how of these connections takes on special import.
One way to break out of your regular modes and habits is to look at this dynamic from the other side—how vendors and other businesses make connections with real estate practitioners. Michael Vervena is VP of Sales and Marketing for mapping and 3-D camera company iGuide, which has built relationships with massive companies like Zillow along with partnerships with smaller real estate companies. He spoke to RISMedia about what it takes from the vendor side—where to look, what perspectives are needed and where he finds fruitful partnerships.
RISMedia: How do you create trust with real estate agents, teams or brokerages, within an industry that is so hyperlocal?
Michael Vervena: From a tech standpoint, we’re trying to put forward a product that not only efficiently captures a space for them but provides accurate and precise information about that space, looking at the end consumer at the end of the day—as a real estate agent you’re looking to sell and market a home. How do I do that better? By getting the buyer the information that they want. We curate our experience to try to make sure that we provide the information that the consumer or that homebuyer is searching for.
Having that reliability is how we build trust with the real estate agent. They’re living up to being this professional and making sure that what they’re putting forth is accurate and reliable data. Just making a tool to better achieve their goals. We’re an extension of the REALTORS® team.
RISMedia: How do you convince the notoriously independent real estate community to either adopt a relatively new service like 3-D tours and property mapping, or switch to using your company?
Michael Vervena: Because there’s a lot of independence, you’re right, that is a challenge because that’s money out of their pocket. They have to really understand. It’s a tough business being in real estate. It can be difficult, because you are reliant on yourself. I think there’s a number of different approaches.
One of the things we do to get across the fact that this helps in terms of professionalism, helps to show value, helps to align with your clients goals—we do things like go to local MLSs and boards. I do presentations on why measurements are important and how to measure a home, and what goes into the differences when you are looking at measurements. I think the education approach is a big approach.
RISMedia: Where do you make organic connections in the real estate industry, and where have you built the most fruitful relationships?
Michael Vervena: Real estate people are relationship people at the end of the day. There’s no silver bullet but a lot of this business is built belly-to-belly with sales. At our local market, we went out and built those relationships, from the MLS level right down to the independent level.
It’s a challenging market to market in because there are a lot of companies out there marketing to the independent real estate business owners or brokerages. I think it’s an omni-channel approach. It’s just kind of marketing 101 things, providing reliable services and building relationships with trust.
Helping to make the overall industry better—I think there are a lot of advocates at all levels within the industry to elevate the whole industry. I think that helps us, trying to inform and help buyers make more informed decisions. That’s always been great. We typically are promoting our services directly to the real estate agent, to socialize our services.
Correction: A previous version of this article misspelled Vervena’s last name.
