Why Is Networking Important?
No matter the industry, finding new leads is never an easy task, especially in real estate. One of the best ways to attract new listing and clients as a real estate agent is through real estate industry networking. Realtors who take the time to network can organically drive new clients their way, thanks to a network of people who view them as a trustworthy and knowledgeable professional in their field. However, most agents don’t take the time to work on building their network, whether it’s due to a lack of time or confidence.
In this post, we’ll go over how to network as a real estate agent, the benefits of networking, how to build a real estate network, and more. Read through for a complete overview of the importance of networking in business.
Real Estate Industry Networking Benefits
One of the best real estate lead generation ideas is building a strong network. Having a robust network is a great way to find new clients who are looking to buy, sell, or rent a home — all of which can help take your business to the next level. Some benefits of networking include:
- Knowledge: As with any career, staying up to date with industry trends and news is essential. By networking, you can gain knowledge from peers working in the field to gain a new perspective and enhance the way you do business. While you can find educational resources through online research, nothing beats learning from real-world experiences.
- More deals: Having more contacts in your database can help increase the number of deals you close. With a strong network of people, more will be willing to refer friends, family, and others to your business, since they view you as an expert. In fact, 84% of customers trust word-of-mouth recommendations from friends and family, showing how powerful a strong network can be.
- Save money: Real estate industry networking is a great way to save money while still gaining experience. Rather than paying a mentor to teach you new tips and tricks related to the real estate industry, you can learn the same skills through a real estate network without spending a dime.
- Build trust: Trust is key to a strong foundation in a relationship. By building an expansive network, more people will view you as a leader in your industry, which will make them more likely to send leads your way.
- New opportunities: According to a LinkedIn study, 80% of professionals view networking as an important component of continued career success. Through real estate industry networking, you’ll be able to open doors to new opportunities that can help you expand your business and grow as a real estate agent.
These are just some of the many benefits that show the importance of networking. Now that you know why networking is important, let’s dive into how to build a real estate network below.
Proven Tips for Building a Real Estate Network
If you’re wondering how to get involved in real estate, starting with a professional network is a great first step. Follow these five tips on how to network as a realtor.
1. Get involved in the community
Community involvement is essential as a real estate agent. After all, you work directly with community members by finding them places they can call home. Through local events such as parades, fundraisers, neighborhood parties, and swap shops you can show your dedication to your community while interacting with a diverse group of people who can help grow your business.
2. Join local groups
Every community has a long list of groups and organizations you can join to grow your network. As a real estate agent, some local groups you can join include:
- Chamber of Commerce: Your local Chamber of Commerce is open to all businesses in the community and hosts regular events where you can interact with other business owners.
- Toastmasters: While Toastmasters is a public speaking group, it’s also a great way to build confidence and meet new connections in your area.
- Sports teams: Most communities will have recreation leagues for sports like softball, baseball, soccer, running, and basketball. Depending on your interests, join or sponsor a local sports team to meet new people who may need real estate help or know someone who does.
- Boards and committees: Your town or city will also have several boards and committees you can consider joining, such as the City Council, Environment Committee, and the Board of Education. Joining a board or committee is also a great way to get involved in your community.
3. Attend networking events and conferences
A key component of real estate industry networking is connecting with professionals in your industry. Attending networking events and conferences is an easy way to find colleagues who can teach you new market information. It’s also important to diversify your network, so research professional network associations in other areas to find events you can attend to meet new people.
4. Use social media
Social media is an incredibly powerful tool when it comes to building connections, especially as a real estate agent. Through social media, you can find local events to attend, connect with leads and industry leaders, and share your own knowledge with your audience. From Facebook to Instagram and YouTube to Twitter, these are just a few of the popular social media platforms you can join for free to promote your property listings, connect with users, and share information.
Wrapping Up: The Importance of Networking in Business
Networking is one of the best ways to grow your business, stay up to date, and attract more clients. As a real estate agent, knowing how to build a real estate network is essential. Community involvement, joining local groups, and using social media are some of the easiest and most effective ways to get started with real estate industry networking.
At Tom Ferry, we offer real estate coaching that will pair you with a coach who can help you take your business to the next level. If you found these networking in real estate tips helpful, our agent tools and case studies will be a perfect fit for you.