Coldwell Grass Roots Realty and Grass Roots Property Management are using the power of networking and partnership through the development of a referral relationship, whereby the companies refer clients to each other and offer a wider number of services to clients.
“It’s kind of a partnership, but we’re still separate corporations,” said Diann Patton, real estate broker and co-owner of Coldwell Banker Grass Roots Realty. “We wanted to increase the services to our customers but also wanted to do it professionally and trust the company we were referring our services to so we know our clients will be in great hands.”
A business partner to help improve Grass Roots Property Management was just what owner John Curtis said he sought.
“I was trying to figure out the best way to grow my company, and I’ve been basically looking for a business partner,” Curtis said. “I’m working in a referral relationship with Coldwell Banker towards that goal, and it’s working really good, and I’m really excited.”
The companies found a way to work with each other after Coldwell Banker Grass Roots Realty sought a partner to offer more services to clients, Patton said.
“Basically we started talking with John a few months ago, mid to last year, hoping to develop a relationship where we could refer our investor sellers to his company and he could take on the property management aspect and find tenants,” Patton said. “And be a symbiotic relationship where we refer back and forth, and he can talk to any of our agents for tenants or other properties.”
Real estate slightly increased last year, Curtis said, and the trend in real estate has been for more clients to rent rather than purchase.
“Real estate was up 2.4 percent in 2012,” Curtis said. “What people have been choosing to do is not buy, so the rental pool market is very strong.”
The referral relationship allows the companies to work together toward a successful goal, Curtis said.
“What’s exciting is somebody who needs to go buy a house can buy it through Coldwell Banker Grass Roots Realty, and if they want to buy an investment house, they can go through Grass Roots Property Management Services, or if they need a loan to buy new investment property, they can do that through Coldwell Banker’s mortgage program, so what (co-owner) Rick (Dejesus) and Diann are just trying to do is make their office more of a one-stop shop for clients.”
Coldwell Grass Roots Realty experienced an increase in sales, Patton said, adding, “We’ve already seen an increase in the amount of doors, meaning front door houses.”
Though the referral relationship began only a month ago, the results have been successful thus far, Curtis said.
“We’ve seen a significant increase since January 1,” Curtis said. “And it’s only been a month.”
To contact Staff Writer Jennifer Terman, email firstname.lastname@example.org or call (530) 477-4230.