Networking For Real Estate Agents
Real Estate is one industry where it truly is more about who you know, than what you know. Networking is a key element of business development for real estate professionals. Here are some tips for effective networking for real estate agents.
Real Estate is a relationships business, where the ability to build, manage and maintain client relationships is crucial. In order to best allocate your time into networking, you must first identify and develop an understanding of who your target market is. Think in terms of demographics such as age, gender and geographical location, and start to segment your market accordingly. Ensuring your target market is carefully considered and well defined is the first step in developing your own personal marketing strategy that will not only save you time and money, but also maximise your potential for success in the industry long term.
Once you have identified and segmented your target market, you can then begin to seek out the events, seminars and preferred communication channels they’re most likely to frequent so as to best access and make a connection.
A common error of real estate agents is failing to network outside of their own industry. Whilst attending real estate events, seminars and team building days is fantastic, and you’ll know doubt have the opportunity to meet people and possibly grow business, you need to look outside the box. Seek out alternative ways to familiarise yourself and network with potential customers from your target market to ensure your time is spent wisely.
Once you’ve identified the relevant events, seminars or functions that you should be attending to best communicate with your chosen target market don’t just suit up and attend. It’s all too easy to fall into the trap of thinking that handing out liberal amounts of business card is going to generate sales. Engage with people, leave an impression and give them a reason to remember or recommend you.
Always ensure you put your best foot forward, represent your brand and start, steer and follow up on interesting conversations with people, ask questions and most importantly, listen.
Last, but in no way least, follow up. Too often Real Estate professionals find themselves too caught up with a sale and forget the very important element of following up. Following up on a sale, whether it is a quick phone call, letter, email or gift, can take your one sale and develop it into continued return business or even referral business.
Networking will only prove to be successful if you’re committed to a holistic approach to managing your relationships with people. Identify and analyse the factors relevant to your target market, so you can spend your time wisely in order to maintain a network that will not only support your sales now, but throughout the entirety of your Real Estate career.