Networking is often the name of the game when it comes to real estate. However, networking isn’t only limited to working with other real estate agents. It’s connecting with local businesses, contractors, lawn care providers, and other professionals to help spread the word of your business. This way you can work together and promote each other’s companies and services to new clients. But how are you supposed to go about doing this?
If you’ve been in the real estate business for some time now you probably already have a large connection and Rolodex of names to pull from. Yet if you’re just breaking in, networking can be tricky, yet it is something you very much need to do. After all, you’re going up against other real estate agents that have been in the business for decades.
It can be challenging at first to navigate the real estate waters but there are ways to do it. In fact, here are a handful of our top real estate networking tips to assist you in connecting with local businesses while also improving your ability to drive in new leads.
Quality Not Quantity
One of the biggest mistakes people make when it comes to networking is they go after everyone. They don’t care who they network with as long as it is a connection. You don’t want to do that. It is more about the quality of your connection than the number of your bonds.
As a real estate agent, you need to first do your research. Look at highly respected companies. You don’t want your name to be partnered with companies in the area that are looked down upon, are in constant legal trouble, or who are not favorably reviewed. Even though you have nothing to do with them your name may become guilty by association. When this happens if a bad landscaping company recommends you to their clients, the clients not only will avoid all recommendations from the landscaper, but they may tell their friends and family to avoid you. So, before you start trying to forge a bond make sure you investigate the potential companies.
Secondly, you want a deep, meaningful connection. Don’t just toss your business card their way. A shallow connection isn’t going to do you much good. You want to forge a strong, professional connection that goes deeper. With this professional connection, you may decide to team up on sponsoring a local little league team (or maybe you join together for an adult rec software league). Businesses don’t want to partner with other businesses that will bounce from one connection to the next. They want a solid connection that means something. One of the best real estate networking tips is, much like the homes you list, is to have a strong foundation and build from the ground up.
Always Stay In Touch
Don’t form a thin connection at a networking event and then never call or communicate. That isn’t going to do you much good. You don’t need to call them every week, but make sure you maintain your professional connection. If it’s a pizza joint ask if you can include sales information in a monthly newsletter, or ask a landscaper about spring tips. These simple questions will keep you connected and help strengthen your networking potential.
Take Advantage of RealProcity
When breaking into the world of real estate one of the most difficult tasks is to generate leads. You’re going against people who have been in the business for years, if not decades, and they have hundreds of satisfied former clients who will pass on their real estate agent’s information to friends and family members. So how are you supposed to compete with that? Outside of going the extra mile with those who do give you a call you will want to try and focus on individuals who are moving into the city with no ties or who are not being recommended, anyone. Other real estate agents may already have their hands full with current clients so they simply can’t take on others. This leaves you an opening and it is one you absolutely need to take.
But how can you connect with these individuals who are moving in from outside your footprint? After all, you don’t know if someone is moving in from Miami or Oklahoma City or Detroit. It’s not like you can scour the Internet for individuals who are moving your way, right? With RealProcity you can. This service makes it possible to connect with real estate agents who have referrals looking to move into your community.
The best part, once you close one referral, that same connection can turn into a lifetime of generational sales. What is a generational sale? This is when the one referral you close turns into 3 or 4 more. This happens when they refer you to their sibling, who then refers you to their neighbor who then refers you to their parents. Once connection can truly make a difference in your business and your bottom line.
Networking Takes Practice, So Keep With It
If you’re new to the networking game it will take some time. But don’t worry, you’ll get the hang of it. Some individuals are naturally gifted at networking. They make friends easily and can talk to just about anyone. If this sounds like you, great. You’ll have several tools in your tool belt to pull from. However, if you’re the opposite it is okay. With these real estate networking tips, you’ll have everything you need to thrive. It just takes some practice.
Don’t worry if you mess up early on. Everyone does. Just try to learn from the mistakes and continue pushing along. Eventually, you’ll find what works for you and the best way to connect with others in your area. And if all else fails, just try to watch others at networking events to see how they do it. There’s nothing wrong with copying successful tactics and incorporating these moves into your repertoire. Nobody has a patent on networking. All you need to do is keep with it.