How To Network in the Real Estate Business
A career in real estate finds you working at the heart of people’s lives. You’re not just selling buildings — you’re helping the public find homes for their families or premises to operate their businesses in. It’s a “people” profession in which you can have a genuinely positive impact on the community. As such, people are also the key to your success.
This is why it is so important to understand how to build a real estate network. Strong relationships are a powerful tool for referrals. The further your reputation for empowering positive life changes can spread, the more successful your career is likely to be.
Let’s explore some of the ways you can establish and grow your real estate relationships.
How To Build a Real Estate Network (In-Person)
Face-to-face experiences are a solid way to make a positive impression on people. You don’t need to be naturally extroverted, either. Introverts tend to be more successful networkers because they’re more considerate, patient, and intentional in their approach. As such, it’s worth seeking out in-person network opportunities.
Attend Networking Events
Networking events can remove a little of the awkwardness you may usually feel around making contacts. After all, everyone is clear that the intention of the event is to start relationships that are good for business. Research the trade websites for your industry and your local business community. There are also online search tools to find real estate networking events in your area.
You should make sure you attend general networking events as well as real estate networking events. People in all sectors interact with real estate in their personal and professional lives. You never know what new connection at a Chamber of Commerce event could lead to a big contract with a local developer.
Get Involved in the Community
The real estate industry is an essential part of community life. The public benefits from your expertise while you, in turn, benefit from their home buying and selling needs. As such, it’s both a social and business imperative to get involved with your community.
This goes beyond sponsoring local events. You need to meaningfully interact with your community and make genuine connections. This includes seeking out people from diverse backgrounds and demonstrating genuine interest and care for their lives. This could involve volunteering with local organizations, serving on community boards and committees, and just talking to people when you’re out and about.
Partake in Your Favorite Hobbies With Others
Your networking efforts will, of course, have a business motive. However, this doesn’t mean the relationships you build should only be based on career incentives. You’ll find your network will be stronger and more positive if you approach it intending to cultivate genuine friendships. As such, you can find pursuing your hobbies with other people a great way to start authentic connections.
Look for local clubs, societies, and events related to your personal interests. This isn’t just about the fact that you get the chance to meet new people doing something you enjoy. The people you interact with will get to know the real you alongside the professional face you present to the world.
Make a Point To Accept Invitations & Recommendations
Once you start networking effectively, people will want you to meet other contacts and attend functions. It’s important to treat these invitations with the generous spirit in which they’re offered.
Even if your meetings don’t directly result in clients, you can still gain from the experience. You may meet more people to add to your network. You could learn about local issues that could impact your real estate business. Accepting invitations and recommendations also demonstrates respect for your network contacts which strengthens your relationships.
How To Build a Social Media Network
Your digital presence is increasingly important when you’re networking as a real estate professional. A recent survey found that 36% of buyers would purchase a home without setting foot on the property. So establishing gateways to your online content is vital. Nevertheless, trying to engage on every platform at the same time can get quickly overwhelming. It’s worth taking the time to learn about each platform. This way you can strategically select the right ones to build your real estate social network on.
LinkedIn is primarily a business-related social media platform. As such, it is well-designed to interact with others in your industry. You can make an impact here by building out a clear professional profile and posting content demonstrating your expertise in the field. It’s also worth joining professional groups in your area of real estate specialization.
Instagram is a highly visual social media platform. If you’ve completed a master’s in business administration (MBA) program in digital marketing, you’ll be aware of how strategically using striking visuals can drive consumer engagement. Don’t just post images of every property you represent. Provide your audience with peeks into interesting properties. Posting videos of you giving virtual tours and interacting in the community also highlights your personality. This can prompt people to interact with you and join your network.
Using social media effectively can vary depending on your type of small business. In the real estate industry, there tends to be a distinct lean in favor of Facebook. A National Association of Realtors report found that 97% of agents that utilize social media use Facebook. The platform is used by demographics who own and buy property. The multimedia approach also gives you tools to showcase your properties, talk about your business, and make local connections.
Courses That Can Help You Build a Thriving Real Estate Business
In most cases, entry into a real estate career only requires you to pass professional certifications. However, heading back to school to pursue a general MBA can bolster your entrepreneurial skills. Access to expert faculty and fellow students offers important opportunities for professional networking. Various educational specializations can boost your real estate career.
Digital marketing is among the primary ways potential buyers and sellers interact with realtors. As such, an MBA in this field can provide you with the expertise to strategize and execute effective online campaigns.
Many real estate professionals find communities respond well to localized traditional marketing techniques. An MBA in Marketing provides expertise in leveraging physical and virtual techniques and analyzing consumer engagement. This helps you to grow a strong brand for your real estate business.
As a realtor, you know the process isn’t just about ad hoc sales. You need to develop strategies to uncover the best leads and grow your profile in the community. An MBA in project management empowers you to handle multiple moving parts, maintain budgets, and lead your team to success. Importantly, it provides you with the analytical skills to plan, execute, and evaluate your real estate projects.
Navigating the real estate industry successfully requires you to understand how to capture and analyze market data. An MBA in business analytics will teach you how to leverage data using advanced techniques. This not only helps you to make your own business more efficient. It also means you can better predict and respond to the market fluctuations in your area.
The real estate industry can be challenging and competitive. But when you put in the time to build your real estate network and skills intentionally, you can unlock paths to success.
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