How To Network In Real Estate And Build Your Community
Ashley Kilroy5 minute-read
October 03, 2019
Effective networking is essential to your success in real estate. Finding potential clients can be a monumental task, but if you have a network that trusts what you do, you can organically drive clients your way. If you struggle with leads, it’s possible that you’re not using your network to its fullest potential. Read on to discover tips on how to build an effective network.
Why Is Having A Community Important For Your Business?
By inserting yourself into many different networks, you create ways to let people know how you can help them with their real estate needs. You also give yourself more opportunities to strategically build your business. By building a diverse community, you give your business a better chance of generating leads and you’ll have a constant stream of potential clients coming your way.
How Can Real Estate Agents Start Networking And Build A Community?
Networking is the key to your sales success. Having an effective network can be the difference between being very successful and simply getting by. Here are a few tips for beginning to build your network.
Be A Card Taker
While you’ll want to have business cards to give out, it may be a good idea to make a habit of taking other people’s business cards. This gives you the power to reach out to people and initiate a relationship. When you meet someone new, be sure to get their information and set an expectation for when and how you’ll reach out so they can expect your call.
Spend Time With New People
It’s important to meet new people to expand your local reach. You should continue to maintain the relationships you have but be cautious about spending time with the same groups of people. When you run into people that you already know at social events, be sure to nurture the relationship. It’s also important to make a point to meet new people. A good rule of thumb is to spend 5 minutes talking to people you already know at an event before continuing to mingle.
Join Local Organizations, Chambers, Or Networking Groups
You may want to expand your network by attending local professional organizations such as the chamber of commerce or Business Network International (BNI). These organizations typically meet weekly or biweekly and will provide you with exposure to other local professionals and business owners.
Chambers of commerce do not typically have strict attendance requirements, but it’s a best practice to attend most of the events they offer. This is especially true during your first year or when you are trying to create a consistent presence in your community.
BNI groups allow one person per profession in each group. For example, a BNI chapter will have one accountant, one lawyer, one real estate agent and so on. There are rigid attendance requirements, and the members are expected to give each other referrals.
Attend Conferences And Real Estate Networking Events
When searching for events to attend, you should prioritize those that include your target market. A perk of being in real estate is that everyone needs a place to live, so these events can cover a wide array of topics. The key is to establish your presence within these networks and be a consistent voice.
For example, if you want to target young families buying single-family homes, you may want to attend several events that attract people who are starting families. By establishing a place in this market, you can become the authority for people who are looking to purchase their first home or upgrade to a family-friendly neighborhood.
When you attend events or target a specific market, it’s important to have fun. Be sure to work with people you enjoy throughout your career. You’ll find that if you’re having fun, the people around you will, too.
It’s important to note that this fun should also remain professional. Be sure that you keep the goal of building a network and further understanding of your target market. Additionally, refrain from indulging in too much alcohol during your designated networking time. Remember, you’re there to meet new prospects and give a great first impression.
Develop A Rock Star Team
You may rely on the connections that you’ve built during your career to develop close working relationships. As you select vendors that you’ll refer your clients to, make sure that you’re selecting competent and trustworthy people who will also refer potential clients to you in the future. This referral-based network will include inspectors, lawyers, mortgage lenders and more. Remember, your team reflects on you, so finding individuals that you can rely on is integral to your ongoing success.
Create A Website And An Online Presence
An easy way to build your credibility is to create an online presence. You can use your platform to not only advertise your services but to educate your potential clients on industry trends and topics. You may want to use local images to demonstrate that you’re ingrained in the community and leverage local designers to create your web platform.
Stay Active On Social Media
Social media is a great way to be consistent in connecting with your clients. It creates an opportunity to share your content, knowledge and expertise with your clients in a format that they can easily consume.
Remember, social media should be regarded as a conversation. With that in mind, you should reply to all communications quickly and completely. Be sure to keep your voice authentic and avoid using social media only to sell. You may want to supplement your postings about new listings with other content that educates your potential clients about the area or other home buying trends.
Engage Your Community
There are many ways to engage in your local community. Being active in your community helps to establish rapport with community members and encourages you to meet new people. You can engage in myriad ways, so choose events that are true to your values and brand. Some examples are sponsoring local youth baseball teams or festivals, volunteering at a place of worship, engaging in local radio or other media, and holding educational seminars.
The Bottom Line
By forming strong local relationships, you’ll build an authentic network that drives leads. In addition to building your potential client base, you will also meet other local businesspeople whom you can refer your clients to and vice versa. Your network is your key to success as a real estate agent.
Do you have additional tips for building your network? We want to hear from you! Please leave your tips in the comments below.
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