Do Your Homework: Vetting Your Vendors

Homework for real estate agents

The best real estate professionals understand the importance of knowing the ins and outs of their neighborhood. Your clients appreciate your ability to provide honest, unbiased recommendations for local vendors (e.g., housekeepers, landscapers, interior decorators, etc.).

You have expert knowledge to share, and you know how to make connections—hey, it’s your job! Use that industry knowledge to cultivate a network of trusted vendors that you can confidently share with your clients.

Build and manage your vendor referral program

It probably goes without saying, but once you’ve got a list of service providers, make sure to vet each one before recommending them to your clients.

People buy from those they trust, and any vendor you recommend reflects back on you. Do your homework on your recommended service providers with the following steps:

  1. Ask for references and follow up on each one

When calling references, stick to open-ended questions (e.g., ask them to describe their relationship with the vendor). You’re more likely to get a feel for how the vendor does business through a discussion than with a bunch of yes or no questions.

  1. See what others are saying online

Search the internet for the company name, see what people are saying about them on social media, and check out their rating with the Better Business Bureau. Remember to frequently monitor your own clients’ experience with your recommended vendors, too!

  1. Monitor your clients’ satisfaction

Remember to frequently monitor your own clients’ experience with your recommended vendors, too! Follow up with your clients about any services rendered by your preferred vendors and ask how the vendor treated them.

  1. Interview vendors before adding them to your list

Ask your recommended vendors how their employees are trained to meet responsibilities and provide excellent customer service.

  1. Ensure recommended vendors perform background checks

Reduce your risk by ensuring any vendor you recommend performs background screening on their employees for any unethical, fraudulent, or criminal activity.

  1. Verify licensing, bonding, and insurance compliance

If the service provider you recommend requires any form of licensing, bonding, or insurance, you should verify that these requirements are met and kept up to date.

Your clients trust your personal experience

Of course, the best way to vet vendors is to use their services yourself!

The ability to tell your clients that you have personal experience using vendors you recommend is vital. Your recommendations provide your clients with a deeper level of confidence in you as a neighborhood expert.

Recommended vendors can make or break your reputation, which is why well-vetted vendors are so important to your business.

Show your clients you care about their satisfaction and appreciate their trust in you by connecting them with the best, most dependable businesses in their new neighborhood.

 
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