You need a real estate network. To be successful as a real estate agent, referrals are vital. There are countless ways to grow your network, but some are more effective than other. The key is to try different strategies until you find out what combination works best for you and your market.
Strategy 1: Family and Friends
The most organic way to build a real estate network is by starting with the people you already know. Let people know what you can do for them, and ask them to send any of their friends and family your way, too. Finding a real estate agent is a daunting task for many people, and since they already know you, they’ll feel more comfortable with you as their agent. As you make more contacts, your sphere of influence expands outward. Friends of friends, business acquaintances, classmates—all of them are potential clients.
Don’t forget to keep your clients in your network even after their business is done. Ask satisfied clients for testimonials—those go a long way to establishing your credibility as a real estate agent.
Strategy 2: Get Involved
When you join groups or clubs, you’ll meet likeminded people who share many of the same values. Those people will be eager to do business with you—or send a referral your way—when they have real estate business to handle. Volunteering is another great way to be active in a community group. When possible, look for leadership opportunities so that you’re more visible.
Strategy 3: Numbers Game
Some people have success in treating networking like a game. For example, you might make a goal of handing out 6 business cards every day, no matter what. When you chat with someone in line at the grocery store, that’s an opportunity to network. When you need a referral for a doctor, there’s a chance to build a reciprocal relationship. Trade cards with people and follow up. The more people you meet and the more you put your name (and message) out there, the more rewards will come your way.
Capstone Strategy: Tracking
Few agents take the trouble to measure how their networking activity measures up against their actual sales. Do you know whether the leads you got at a conference panned out? Have you ever broken down the number of hours you spend at an open house to see how effective your efforts are?
You need to know whether your efforts are paying off, so keep records of your networking. A simple spreadsheet will do the trick, or you can use a notebook. The idea is to make notes about who you meet, where your referrals come from, and which activities are the most effective. It’s extra work on top of your already-busy schedule, but in time tracking will help you drop networking efforts that waste your time.
