Networking Series, Part 1: Three Major Benefits for Real Estate

“It’s all about who you know.” How many times have you heard that line in reference to business? Like many industries, in real estate the more people you know and interact with, the better. Establishing relationships with others can benefit your real estate career in many ways, no matter your current level of success or experience. In many cases, networking and building relationships is vitally important for long-term business growth, and in real estate we have the chance to meet and work with a lot of people! So how does networking help your particular business? Let’s start with three major benefits of networking.

NETWORKING EDUCATES.

Real estate is a learn-on-the-job profession. There is always something new to learn, and staying on the cutting edge of information is a major factor in being successful. Attending events and conferences not only provides the opportunity to meet and learn from colleagues, but also offers expert guest speakers and seminars to help improve your business practices. Check out local events and, as your budget or schedule allows, try to attend one major conference each year to meet realtors and investors from around the country. Information changes all the time in this industry, so keep your ears and mind open to avenues of learning whether you’re a rookie or long-time real estate expert.

NETWORKING BUILDS YOUR CONTACTS LIST.

In the real estate world, everyone is working to either buy or sell. If you network with the right people, you can build a pretty powerful go-to list when you are ready to invest or sell a particular property. Though your contacts may not be interested at the time, they might know someone who is, and there is your link to getting your transaction started. Another benefit of a large contact list is great exposure for your properties. Whether you’re a realtor or investor who rents and/or flips homes, your goal is getting a lot of buzz about your listing. With enough eyes on a particular property, the seller could get multiple offers presented, which is never a bad thing!

NETWORKING COULD HELP YOU FIND YOUR MENTOR.

No matter how seasoned a real estate professional may be, eventually a situation will arise that calls for some help. Whether you’re a realtor or investor, it is in your best interest to develop a relationship with another trusted professional that you can go to for help and advice, should you need it. He or she can be a logical sounding board and source of support in your ventures.

So how do you begin networking in a meaningful way to help build your business? Two great places to start are using social media and engaging in your community. Let people know what you do and how you want to grow – you may be surprised by how much support you receive! Plus, the claim that you truly never know who might see a Facebook or an Instagram post is accurate. A friend of a friend could come across your post via social media and reach out to you. There is your first chance to start building that relationship that ideally leads to a sale. As far as community engagement, it is always great for businesses to help local charities, schools or government groups in need. Through your various community involvements, you will meet people and get your name out to the public, plus you can do some good for those who could use a boost.

It is important to remember that networking is a skill that takes time to refine. Be genuine in your meetings and conversations with people. They will pick up on those who are insincere and only conversing for selfish reasons. Networking is all about give and take, so find out what you can offer others just as much as what they can offer you. If you take your time and build authentic professional relationships, the business benefits will come along before you know it.

Be sure to stay tuned for my next post. We will continue our conversation about the importance of networking. I’ve got a few other networking tips up my sleeve, plus some additional benefits you may not have thought about!

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