Like many businesses, real estate is about more than just buying and selling, it's about building relationships.

If you follow the career path of any successful agent you will find a common attribute; their focus on building relationships with their clients - vendors and purchasers.

While ultimately agents should be working in the vendor's best interests, they also have an ethical responsibility of disclosure (honest and upfront dealing) with the buyers also.

A good agent can effectively communicate and operate within these parameters to the benefit of both parties.

From the initial contact, through to the closing of the deal, a positive relationship needs to be established.

The process is organic, growing in intensity as you progress through your dealings.

The key to any good relationship, in any sphere of life is communication, respect and understanding.

1. Communication - keep your vendors informed of all feedback (in a tactful manner). Let them know what has been done, is being done and will be done to market their property. Ask for their feedback/input into the marketing of their property, include them when you can, after all they know more about their own property than anyone does.

2. Respect - a crucial element of any relationship. The respect must be sincere; insincerity is usually immediately transparent, and not conducive to further dealings, making repeat business less likely. Respect your client's socio-economic status and treat every vendor like their home is worth a million dollars. Who knows, you may deal with them again in the future under completely different circumstances.

3. Understanding - why are they selling? Be especially sensitive to emotional factors that force sales, such as divorce, financial difficulties etc. A little bit of empathy goes a long way. Understanding buyer and seller motivation in decision-making helps you steer your efforts in the right direction.

If you make the effort to adhere to the three basic rules of engagement, as listed above, you are laying the foundation to foster a mutually beneficial relationship, which you may continue to reap rewards from in the future.