What's Your Social Capital? Building Trust in Real Estate

Harcourts Growth Officer Tina Ashton on how social capital—interaction intimacy and trust—drives real estate success; and offers practical tips for building relationships that empower agents.

With six new offices joining Harcourts this month, I've been reflecting on what truly drives success in our industry. Sure, we talk about market knowledge, negotiation skills, and property expertise—and these matter enormously.

But there's something deeper at play that I believe separates thriving agents from those who simply survive: social capital.

Understanding Social Capital in Real Estate

Social capital boils down to two fundamental elements: interaction intimacy and trust. It's about the quality of relationships you build—not just the quantity of contacts in your phone.

Real estate has always been a people business, but with information technology revolutionising how we work, knowledge has become our greatest asset.

The agents who thrive are those who can establish genuine trust and create environments where knowledge flows freely.

The Human Element Behind the Scenes

Here's where personality traits become crucial. Agents who are naturally open, hardworking, outgoing, agreeable, and emotionally sensitive tend to build stronger social capital.

But here's what I've learnt: these aren't just innate qualities you either have or don't. They can be developed and strengthened through the right environment and support systems.

Building Trust Through Knowledge Sharing

One thing I've noticed in our most successful offices is the culture of knowledge sharing. When agents feel psychologically empowered—when they find meaning in their work, have autonomy to make decisions, feel competent in their abilities, and can influence outcomes—they're more willing to share insights, collaborate, and support each other.

Practical Steps to Build Your Social Capital -So how do you actually build social capital? I've seen agents transform their careers by focusing on these areas:

Invest in genuine relationships. This means following up not just when you need something, but when you can offer value. Check in with past clients, share relevant market updates with your network, and remember personal details that matter to people.

Create systems for knowledge sharing. Whether it's weekly team meetings, shared databases of market insights, or informal coffee catch-ups, find ways to exchange information that benefits everyone.

Develop emotional intelligence. Being emotionally sensitive isn't about being soft—it's about reading situations accurately and responding appropriately. This skill is invaluable in negotiations and client relationships.

Build your competence continuously. The real estate landscape changes rapidly. Agents who commit to ongoing learning and skill development naturally build confidence and trust with clients and colleagues.

The Ripple Effect

What excites me most about focusing on social capital is the ripple effect it creates. When individual agents build strong relationships and feel empowered in their roles, entire offices benefit. Teams become more collaborative, client satisfaction improves, and business growth follows naturally.

The six new offices joining us this month represent more than expansion—they represent hundreds of relationships built on trust, knowledge shared between colleagues, and agents who feel empowered to do their best work.

Your Social Capital Assessment

As you reflect on your own real estate journey, ask yourself: What's the quality of your professional relationships?

Do you have a network you can rely on for knowledge and support and are you creating an environment where trust can flourish.