New

Ways To Build Trust and In4luence in Real Estate Service

Maita H. Siquijor Member, PAREB-Mun9nlupa Real Estate Board Principal Broker, La MaisoneAe Manila, Inc. msiquijor@residencesmanila.com h"p://www.residencesmanila.com h"p://www.condoinmanila.com h"p://www.estateclass.com

Presentation Objectives
To identify the types of trust in business relationships To identify the classic and new environments where trust and in4luence are fostered as applied to the Real Estate Service To present new approaches to growing trust and in4luence online and of4line

The Currencies of Professional Business

The PRO real estate broker is an AGENT of trust and in9luence
Trust agents are non- sales oriented, non-high pressure marketers. More interested in PEOPLE (prospective customers, employees, colleagues), and use tools and methods that communicate understanding of and empathy with customers needs.

Exercise
Look to the person beside you, introduce yourself w/ a smile. Consider if you have known or have heard about this person prior to the conference. Ask him/her, Would you like to co-broker my listing? Question: On 9irst impression, do you think youd like to work with this co-broker?

The Currencies of Professional Business

Trust Defn: The expectation that an actor
(1) Can be relied on to ful9ill obligations (2) will behave in a predictable manner, and (3) will act and negotiate fairly when the opportunity arises.

Level of uncertainty and risk must be present for there to be a need for trust

From Furman, Susanne Phd. Building Trust-- h"p://www.usability.gov/arCcles/ 092009news.html#familiarity; (Zaheer et al. (1998))

Trust and Familiarity

There must be a sense of familiarity with the other party for trust to grow. Familiarity, as a precursor to trust, is a persons understanding of anothers past actions or situation and helps people reduce uncertainty.

Luhmann (1979), Trust and Power, as cited in h"p://www.usability.gov/arCcles/ 092009news.html#familiarity

The Currencies of Professional Business

In4luence The power or ability to affect someone's beliefs or actions, a person or thing with such ability or power, the power arising out of status, contacts, or wealth and the power to produce a physical change. Translation? Power to make things happen.

Two Basic Levels of Trust Personal trust

Competence trust refers to each party gathering information on past transactions with which they can evaluate the other partners trustworthiness, skill, knowledge and reputation. Social trust refers to the in9luence of social norms, religion, and personal bonds.

 25 Ways to Earn Customer Trust

15.Be condent your product or service is valuable 16.Make it easy for people to buy, but also to return 17.Say please thank you and excuse me 18.Admit when youre wrong 19.Dont gloat when youre right 20.Hold the door or elevator for someone else 21.Pay a"enCon to those talking to you 22.Dont gossip 23.Be open minded 24.Respect their right to not answer or agree 25.Do all of that consistently h"p://www.socialmediaexplorer.com/digital-markeCng/25-simple-ways-to-earn-trust/ 1. Be polite 2. Dress neatly 3. Smile 4. Shake hands rmly 5. Hug if appropriate 6. Illustrate your knowledge 7. Make eye contact 8. Speak clearly 9. Share ideas, content and praise 10.Be posiCve 11.Ask how they are doing 12. Know when to shut up 13.Use a clear and disCncCve avatar 14. Talk about everything but you most of the 9me

Classic Traits of a Trustworthy Person

Loyalty Accessibility Integrity Consistency Of Behavior Competence Reliability Fairness Predictability Commitment Goodwill ( From Argandona 1999)

Such attributes of the prospective partner help assure us that that they will be able to do the work, be counted on to hold up their part of the deal, work consistently, and contribute to the good of the relationship.

The Customer Speaks

--Client tes9monial: An unsolicited email from a happy customer sent to a developers service representa9ve, May 2012

Two Basic Levels of Trust

Trust in the Institution Trust in an organizations formal social structures, which are usually backed by sanctions, norms, business contracts, and implementation of such norms and guidelines in the industry. The institution offers its members safety while operating in its jurisdiction, and security interacting with parties who likewise observe the rules. Accessibility is not only physical access but transparency in dealings, meaning reasonable access to information between parties.

Local Boards Are Familiar with Their Immediate Communities

h"p://www.rplmx.com

PAREB RPMLX for Listings Exchange

Licensed Brokers From Member Boards Listings are deemed real/ current or veri9iable by party offering it. Members have recourse & immediate feedback mechanisms to maintain fair practice.

Classic Networking Activities for Building Trust

Regular monthly meeCngs with clients High school/university class reunions Monthly car club meet, bible study group, masterminding groups Weekly MLS meeCngs for lisCngs exchange One-on-one conversaCons and consultaCons One-to-one correspondence for long-distance relaConships LeaeCng, cold canvassing, sending birthday cards

*Keys: Conversa.on, rela.onships, and informa.on exchange

Virtual Environments Extend Social Life & Service

Computer and Mobile Environments:
Extend ability to engage members in your community
Distribute info to promote lists, but also contribute knowledge to the community Engage consistently with friends & customers (text, FB,Twitter) Get quick feedback direct from account holder Establish quick trust with relative strangers Drawback: Loss of privacy

Extend the potential to serve customers 24/7

Brokerage and sales activities can be automated and available 24/7

Venues for Engaging in Social and Business Conversation

Classic

Face-to-face
Chat Online Community & Video Email Social Networking SMS

FB, Pinterest, LinkedIn, Twi"er

Websites, Blogsites

Technology-mediated

Social Network and Private Spaces

New Ways To Build Trust and In4luence for Your Real Estate Service

Becoming A Trust Agent

Trust Agent (Brogan):

1. Knows how to leverage the tools of the Web, educated by their own experiences 2. Learns by trying, and is not afraid to experiment with new applicaCons or devices Anyone who wants to use the Web to humanize the business. Its not about the complexity of the technology they use, but how they use it to amplify good & understand unknowns.

Becoming A Trust Agent

6 Moves of Trust Agents
1. Make your own game be willing to take risks and break from the crowd 2. Be One of Us be part of the community by doing your bit and contribuCng to it 3. The Archimedes Eect leverage your own strengths wisely 4. Agent Zero posiCon yourself at the center by connecCng people and groups 5. Human Ar9st learn how to work with people; help others and be conscienCous of eCque"e 6. Build an Army you need allies to help spread your ideas

Becoming A Trust Agent

1. Make your own game be willing to take risks and break from the crowd Innovate, do things dierently. Know the rules before you bend them. Use judgment to know when to play in the system or out of it.
Brogan & Smith (2009), Trust Agents: Using the Web to Build Inuence, Improve

Becoming A Trust Agent

2. Be One of Us be part of the community by doing your bit and contribuCng to it. Engage the community, ask & listen. Contribute freemiums. Remember that the online world is about relaConships, not campaigns.
Brogan & Smith (2009), Trust Agents: Using the Web to Build Inuence, Improve

Sharing Lessons from the Field

Pinterest, Dream Home Pinboard

Becoming A Trust Agent

Signals of Trust in Sites
Design: Elaborate vs. simple Longevity: New vs. old Volume of produc9vity: old vs. new posts Comment quality/no.: Can be linked to Yahoo Proles if youre just using email. Domain name: Main ? .com? Site w/ About Page/Picture: Not Anonymous TwiAer/Facebook Prole: Everywhere
Brogan & Smith (2009), Trust Agents: Using the Web to Build Inuence, Improve

Becoming A Trust Agent

3. The Archimedes Eect leverage your own strengths wisely Try new things but focus on your core competence; e.g. write white papers, books but you dont do everything Use your Cme wisely; delegate low-priority projects so you have Cme to focus on core acCviCes & PEOPLE

Becoming A Trust Agent

4. Agent Zero posiCon yourself at the center by connecCng people and groups Create proles that showcase the your credenCals and services. Its not who you know, but who knows you! Make sure youre found thru good Web links. Maintain a relaConship with your database (e.g. via MailChimp). Try checking your inuence & reputaCon online.

Check How Youre Doing

Google Alerts RankChecker.com Compete.com Twi"erGrader.com Klout.com

Becoming A Trust Agent

5. Human Ar9st learn how to work with people; help others and be conscienCous of eCque"e Reduce communicaCon anxiety, respond 0-24 hours from receiving any messages. Learn how to say No. Observe community neCque"e & eCque"e. Be helpful, be present before the sale, and be available.

Becoming A Trust Agent

6. Build an Army you need allies to help spread your ideas Dont hesitate to partner. Find a mentor. Scale up your service by going into cooperaCve/aliate markeCng, sharing content and ideas. If you dont like to blog, partner with someone who knows how to and promote your service! Con9nue to keep the Trust, give back to the community in posi9ve ways. Those who believe in your passion, vision and good works spread your inuence & reputaCon. With this you build a legacy embedded in the online community, well beyond your lifeCme.

References
Brogan C. and Smith J (2009). Trust Agents: Using the Web to Build Inuence, Improve ReputaGon, and Earn Trust. Wiley & Sons. in Furman, S. Building Trust (2009) on hRp://www.usability.gov/arGcles/092009news.html#familiarity. Siquijor M. H. (2007). EvaluaGng Learner Support for Workplace E-Learning: A Case Study of Drivers of Adult Learner MoGvaGon and SaGsfacGon in the Phil. Global Trade E-learning Program. DissertaCon submi"ed and approved Sept. 2007, Sheeld University. Wang, Y.D., and Emurian, H.H. An overview of online trust: Concepts, elements, and implicaGons. Computers in Human Behavior, 21, 2005:105-125 in Furman, S. Building Trust on hRp://www.usability.gov/arGcles/092009news.html#familiarity. Wenger E. McDermo" R., and Snyder W (2002). CulGvaGng CommuniGes of PracGce: A Guide to Managing Knowledge. Harvard Business School Press. Sites:
hRp://www.klout.com hRp://www.RankChecker.com hRp://www.TwiRerGrader.com hRp://www.Compete.com hRp://kylelacy.com/the-deniGon-of-inuence-in-markeGng-and-social-media/ hRp://www.facebook.com/maita.siquijor hRp://www.pinterest.com hRp://www.linkedIn.com hRp://www.socialmediaexplorer.com/ hRp://www.propatalliance.com/trust_deniGon.html

Thank you.
Maita H. Siquijor Member, PAREB-MUNREB La Maisone"e Manila, Inc.

msiquijor@residencesmanila.com h"p://www.residencesmanila.com h"p://www.condoinmanila.com h"p://www.estateclass.com