How can you expand your real estate network?
Education is still vital to succeeding in real estate. However, more than ever, winning in real estate is about who you know – and who knows you. Having a million Facebook fans might feel good. It might even be good for branding, but that doesn’t always mean it is profitable. It might not even mean that it leads to closing more real estate deals. Buying social media connections, and giving out thousands of business cards can help, but it isn’t always the most effective or profitable way of building a valuable network.
So how can real estate agents, CEOs, and investors grow their networks, profitably?
- Dedicated Time
Scheduling freedom is one of the best perks of working in real estate. However, there is a lot that can fill an agent, investor, and CEO’s time. Planning marketing, talking to prospects, managing transactions, and handling the business side of things can all take up a lot of time. Expanding your network is important. Those that want to build in this area need to block out time for it. Schedule it in. How much time on your calendar is dedicated to networking? This is a weekly, if not daily activity.
- Hone in at Events
Most real estate investors will find no shortage of local networking events to attend each month. Those in more rural areas can check for county and regional opportunities. Then there are regional, state, and national trade-shows, expos, and conferences. There are many of these events which are in similar or related industries too. Leverage them. Home builder conferences, tech meet-ups, finance seminars, and home design shows are all great choices. There can be thousands of potential contacts at these events. Instead of taking the volume approach, try to hone in. Focus on quality contacts instead of making it rain with your business cards. It’s better to come away with one solid contact that will provide deals.
- Leverage Twitter
Facebook, Instagram, YouTube, and Google+ are all getting a lot of attention. Yet, Twitter can be one of the best social networks for both expanding networks fast and effectively. Size matters, but not as much as what you do with it. Using hashtags at events can help scale relevant followers and contacts quickly. Creating your own hashtag anchored campaigns can help with this too. Ask for new contacts to follow you on Twitter instead of handing out business cards.
- Do More of What You Love
Organized networking events have their advantages. They can have disadvantages too. Casual networking can be a powerful alternative. And often much better for real estate professionals. Consider eating out more, working out more, taking part in a wider variety of sports, and hobbies. These are all activates which can lead to making new contacts. There ought to be less competition. And it’s a warming method of prospecting than 90% of other real estate marketing options out there. Your personal performance as a real estate investor, agent, or CEO will benefit too. You’ll be happier and more productive. And your new relationships will share tighter bonds.
- Unique Follow Up
How will you stand out from all of the other follow up efforts of your competitors? Don’t be tossed into the spam folder. Can you send a small gift instead of bulk email? Can you send an invite to a small dinner instead of another postcard? Can you at least make the effort to follow them back on Twitter. And favorite and retweet some of their posts?
- Give Leads
Everyone wants leads and business from the contacts they make. Few are willing to give first. You may not always get them back – at least not right away. But this approach can still earn plenty of good will and recognition. Everyone has leads they can share. You may have buyers that need a mortgage, insurance, or title. You could have past clients that need a seller’s agent. You may have lists to share. Give generously.
- Start Your Own Mastermind Group
Every real estate professional should be familiar with the mastermind group concept. It can be used to create a panel of advisers. It can also be used to form an alliance of strategic partners, and clients. The key is putting together a targeted group of like-minded individuals. You could all be aspiring golfers that like real estate as an investment. Or a group of foodies that are interested in redeveloping local real estate. Maybe it is just a group of your neighbors and friends that want to get ahead financially. Find the others, and build the relationship.
