Collaborating to Success: Insights From The YPN Breakfast

In an industry where relationships can make or break deals, Chicago REALTORS® gathered for a YPN Breakfast that put collaboration front and center.

One of the discussion leaders, Chloe Reynolds with COMPASS, shared a story about being so anxious at her first YPN event, she hid in the bathroom and left early. It took time and peer support for her to start finding more comfort at YPN events. “We want that to change. We would love for you guys to leave today feeling like you have a friend in the room,” she said.

Attendees did more than exchange contact information and stories; they also shared creative ideas and discussed cool business strategies at their tables.

4 Business-Building Ideas From Your Fellow Chicago REALTORS®

Listen to Your Mentors’ Lessons

The value of mentorship was a sentiment shared by many attendees. One participant shared advice from their mentor: “Pressure makes diamonds. Do not let your clients drive the bus. And consistency is everything.” This trifecta of wisdom underscores the importance of resilience, leadership and persistence in the real estate profession.

This was seconded by another attendee who was grateful she followed someone’s advice and established an intentional morning routine. By waking up and going through their routine, they can decide how the day will be, instead of “falling into” the day.

The other discussion leader, Liza Irazoque of Realty of America, shared that her start in real estate began on the administrative side as an assistant. Her mentor and managing broker at the time encouraged her that even though this work might not be what she enjoys most, it will teach her tenfold about the transaction process. That experience proved to be just as invaluable.

Another attendee recounted, “My mentor taught me how to deal with bad news – you have to give it as quickly as possible and, if possible, try to give it face-to-face. When you do that with humility, you gain more respect from the clients.”

Where can you find mentors? Our Foundation can help! The ELITE Mentorship Program connects mentees with mentors to share knowledge, insights, tips and tools to advance business success. Find out more about the program here. Or, read up on the topic with the following articles from Chicago REALTOR® Magazine:

Try Those Innovative Client Acquisition Tactics

Many attendees also shared creative ideas for expanding your client base:

  • Be strategic about which open houses you work. Try focusing on a specific neighborhood and build local recognition as someone connected to inventory.
  • Add a personal touch to your relationship-building with clients by treating people to something once a week in a one-on-one setting. It could be lunch, coffee, drinks, etc.
  • Partner with a loan officer to host a homebuyer event. Consider hosting it at a gym, as a workshop, alongside a cooking class… the ideas go on!
  • Making meaningful moments in tough times through gifts, giveaways or handwritten notes. For example, send a thank you card to all the offers made on your listing, especially if it was a multiple-offer situation.

Explore more lead generation and client-relationship-building ideas with the following resources:

Build A Collaborative Ecosystem

The importance of a strong professional network was also discussed. Think of your contact list of title companies, photographers, stagers, attorneys and lenders as an extension of you and your professionalism. One lender expanded on this: “I always collaborate with a REALTOR®, thinking, ‘I can’t send you leads, but why don’t we generate leads together?'” These partnerships are a creative way to expand your limited or non-existent marketing budget.

Another partner added, “I try to produce or deliver concierge services because a lot of times they don’t know what restaurant to go to. They don’t know what activities are going on in the Chicagoland area.”

Beyond their expertise in contracts or loan offerings, these real estate professionals may hold neighborhood expertise in an area you’re not familiar with. Through a collaborative relationship, you can build the confidence to show your own clients that you’re connected to an ecosystem of experts committed to helping them find their next home.

Begin building your professional “team” of experts by exploring our Affiliate Directory, featuring attorneys, lenders, business services, title companies and more.

Embrace Diversity in Professional Organizations

The event concluded with a call to explore the wealth of professional organizations to which you can belong. As Liza explained, “The Chicago Association of REALTORS® has so many resources like industry partners and different committees. You don’t have to be Hispanic to be part of NAHREP Chicago, and I know you don’t have to be a woman to be part of Women’s Council of REALTORS®.”

Real estate can feel lonely, so don’t force yourself to power through the tough times alone. Consider starting a support group within your brokerage, or attend an industry event through another organization outside of the Chicago REALTORS®.

As you grow your business and professional expertise, embrace collaboration and diversity, because we’re not just enhancing our individual success – we’re elevating the entire profession.

Explore these quick links to industry organizations you can get involved with:

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