Real estate networking is a vital part of a successful real estate career. This process can be as simple as building relationships with people in your niche or as complex as connecting with acquaintances who live in neighborhoods you want to target for leads.
We all know that our success in the industry comes down to networking. But with the confusion and endless networking options, it can be hard to choose the best strategies.
Fortunately, there are ways for both new and experienced real estate professionals to find the right networking opportunities. I’ve spent time looking into the best options and put together this handy guide to show you how to have the power of networking in your pocket!
Benefits of Networking for Real Estate Professionals
Finding new clients for your real estate business or getting a leg up on your competition can be tricky. But the best way to grow is to build relationships.
To develop a robust real estate career, you need to start by building relationships with your community. Accessing the right community resources and a network of professional associates can help you move forward.
Your learning curve is steep as a new agent. Although many online educational resources are available, nothing compares to hands-on, real-world experiences. Interacting with seasoned agents and realtors will help you form an experienced point of view, give you new insights, and pick up priceless expertise.
Build Business Partnerships
Most established agents, brokers, and realtors have professional partnerships, sometimes across different locations. In most cases, these partnerships consist of colleagues in the same niche or from the same brokerage and other professionals that are important to the industry.
While some of these people may be friends, family, or contacts from both, most are from a relationship that these professionals intentionally built over time. Your real estate network can include other agents, brokers, contractors, builders, and landlords. Partnering with others or attending events outside your field can help lead generation and build your SOI.
Robust Real Estate Business
Expanding your professional network gives you a better chance of obtaining business prospects. Your access to more individuals who can assist you in closing deals increases as your network grows.
The number one mistake many agents and brokers make is not knowing where to look for new leads. Agents make this mistake because people think you have to spend tons of money on ads and giveaways, but this isn’t true. More often than not, tying yourself to something that takes away time from your day will lead to losing business rather than gaining it!
So here’s the deal. Building relationships doesn’t have to cost a thing. It can make your life easier by finding work, increasing profitability, and getting first dibs at any offered deals!
Proven Networking Techniques for Real Estate Agents
A solid professional network of competent and trustworthy people is a crucial component to success. Working with others with similar business goals can increase the probability of success by helping you connect and grow.
I’ve put together this guide to the best ways to build relationships and make new connections so you can get more business in any real estate market.
Identify Your Networking Goals
While everyone you meet is a potential customer, there is the right way to build a real estate network. Networking aims to grow your brand and put yourself out there. Therefore, you must partner with people and attend events that can create more opportunities to grow your business and promote your brand.
Setting networking goals can help you make the right business connections. Of course, you’ll build relationships with your colleagues and agents in various locations. But it’s best to consider landlords, interior designers, or even construction workers. Anyone connected to the real estate industry could be a good addition.
Take Advantage of Business Cards
A business card is one of the most potent traditional instruments for creating brand awareness. It lends credibility to your business and offers quick and easy access to important information about you and your brand. Prospective leads can quickly contact you to learn more about your business.
Additionally, business cards formally introduce your company and demonstrate your readiness to do business. Even though people use the internet very often, business cards are easier to use and don’t have any time delay. Whomever you give your card to can effortlessly and promptly reach out to you.
It’s easy to underestimate the importance of a business card with so many digital options at our disposal. There are many other online media for marketing, advertising, and socializing. But business cards remain essential in most businesses, especially in real estate.
Attend Real Estate Networking Events
Attending professional networking events regularly is one time-tested strategy for expanding your network of business associates. Agents must put in extra effort to expand their businesses and bring in new customers, especially if they’re new to the real estate industry.
Professionals in the industry know that these events are essential for advancement. To generate fresh business leads, you must stay current on industry trends and compile necessary recommendations. Increasing your networking activities is the fastest approach to achieving all of these goals.
For instance, if you want to work in residential real estate, you might consider regional, family-friendly gatherings where your target market is frequently present. However, you should consider going to business expos and the chamber of commerce if you’re more interested in commercial real estate.
Attend Other Conferences and Seminars
The value of face-to-face communication has never diminished, and this is still true in the age of digital communication. It’s a good idea to socialize and meet possible leads in person.
You will have the opportunity to meet a lot of valuable contacts at business conferences, seminars, and charitable events. For new real estate agents, you will most likely meet dependable experts at paid events.
Regardless of the region you represent, real estate agents need to socialize with prospective customers, lenders, and investors to get the leads that will bring about career advancement.
Furthermore, be open to activities that might not be in your local market. Individuals you meet at corporate networking gatherings may also present you with outstanding real estate options.
Join Local Organizations
Attending local organizations, professional associations, and neighborhood groups could help increase your real estate network. These associations comprise businesspeople and professionals in different fields that could be relevant to your business. The National Association of Realtors is an excellent place to start.
Furthermore, partnering with local business owners outside of real estate networking groups has many advantages. This is true if you want to start or establish a presence in your neighborhood. These groups will help to broaden your vertical networks into further natural real estate-related fields.
Organizations such as construction companies, law firms, and chambers of commerce, are good examples. Most home buyers and sellers have a sound relationship with these organizations. You may have a competitive edge if you create a connection with any of these companies.
Even if you don’t make an immediate and direct profit from a network expansion like this, you would have built a strong network you can rely on in the years to come. Consider it as laying the groundwork for your real estate career’s future.
Leverage Social Media
One of today’s most effective networking tools is social media. You can join professional groups, follow pages, or use them for your real estate marketing plan.
Social media is a vital tool for interacting with many different groups. Social media can directly contribute to lead generation through resources like paid ads.
Additionally, there are cost-free, indirect techniques. Many online groups also have offline, in-person meetings. Joining any of such groups makes it easier to connect with local and foreign professionals who may be valuable additions to your real estate network.
Platforms like Facebook and LinkedIn are the two best options for networking and marketing. Connecting with others and building a social network becomes easier when you have an active online presence.
Create a Professional Blog or Website
A professional blog or website can help you gain credibility in your region and beyond. It can also help you reach your target audience and sustain existing customer relationships.
Your blog should contain fresh, unique, and relevant content to keep your users engaged and informed. Make sure you study your target audience before creating content for your blog or website.
Additionally, you can use different strategies to increase traffic to your site and expand your network. Some of these strategies include:
- Utilize social media sites to promote your blog or website.
- Create a page for a reliable, concierge-level vendor list.
- Include a column for guest posts on your website. Additionally, you can add a section for customer reviews and feedback to increase engagement and traffic.
Helpful Networking Guidelines for New Real Estate Agents
The fact that you want to sell real estate is the first step in a long process. You have to make connections and build those relationships with the right people. Your business will grow faster if you have a good funnel for leads, but that only happens if you know how to network effectively.
The experience of networking is entirely personal. But while developing a real estate network, you must adhere to professional standards.
Get a Coach or Mentor
Real estate rookies have a lot to pick up, which can be intimidating. Luckily, there are many places they can turn to receive the essential networking knowledge they need. You can gain from studying a knowledgeable real estate professional rather than inventing the wheel from scratch.
Learning when and how to network and maintain relationships with other realtors and their clients is vital for success. Locate a mentor who can assist with integrating into the neighborhood and market. Choosing a brokerage that aligns with your business goals is also essential.
Network With Clients and Professionals
Every new agent needs a network of both professionals and clients. It can get challenging to balance these two network growth aspects on top of all the additional effort involved in developing a real estate profession. But with the right help, it can get easier.
Professional, Yet Cordial
Your networking goals are the most important things to remember, even in a social setting. While being pleasant is excellent, always remember to maintain your professionalism. Whenever you act professionally, the person you’re working with is inclined to do the same.
Set Realistic Goals
When setting your networking goals, ensure you stay optimistic but realistic. Unrealistic expectations are a common mistake among new agents and can lead to disappointments.
You can strike up a relationship or a conversation with minimal risk. But don’t set high standards for your interactions with other network members. Make sure your relationship with your network members is mutually beneficial, and you can offer services that will make you valuable.
Now that you’ve read through the list, it’s time to put it into practice. Whether you’re a seasoned deal-seeker or you’re starting your career, these tips can help you gain a competitive advantage.
Networking can be the difference between an agent being stuck or moving forward with their career. If you are not engaged in active networking methods and events, you will miss out on many potential clients and opportunities. Take the time to learn about all the network marketing techniques you can use, including those listed above.
The Next Step
Every business professional knows the power of a strong network. But even if you know how to build your network, you may still need help along the way (and we’re not just talking about rookie agents).
There are changes and improvements year after year, even in the real estate industry. And at eXp Realty, innovation is the order of the day. You’re in the right place if you need more help with your real estate network or growing your real estate business.
Contact Traci to get expert advice on growing your real estate network and discover a roadmap to developing your real estate career.