While Real Estate is a competitive industry, one playing field that most can share is bettering their communities. And it doesn't hurt that a better public perception through community service will help your brokerage.
According to a study by Harvard Business School, companies with more social responsibility practices outperform their competitors. Another report found a direct correlation between corporate giving and sales growth, especially among companies that were sensitive to customer perception. Is your firm striving to be a leader in community service in your local market? If not, here are three reasons you should be.
- Real Estate agents have a vested interest in their communities.
Your market is directly affected by the success of the economy, school systems, 1. community programs, and more. Get on the front line of change. Learn more about upcoming projects and changes in the community that will help your neighbors.
- There's no replacement for face-to-face contact.
In the age of social media, some forget just how valuable a personal impression can be. Volunteering puts you in contact with numerous networks that you might not ordinarily cross. For example, volunteering at a local school will help you meet staff, teachers, administrators and parents — all potential clients. Similarly, participating in a local cancer walk would put you in contact with people from all different business sectors, while at the same time raising money for a good cause. This doesn't mean you'll walk away with a pocket full of leads. However, research from the Nonprofit Marketing Trend Tracker found that 59 percent of Americans are more likely to buy a product associated with a corporate-nonprofit partnership. Branding your name as a trusted source in the community will make your clients more likely to contact you when they need Real Estate services.
- Community service brings your team together.
Most brokers work with a team of professionals. Collaboration is imperative to success. A study from the University of Bath found that employees of companies with strong community service programs are proud of and committed to their employers. Additionally, volunteering provides opportunities to develop leadership and communications skills, valuable assets for a broker, agent or Realtor. While community service is a great way to be altruistic, don't underestimate the benefits it can bring to your business. Come up with a strategy for your team that involves "boots on the ground."