Follow Us on Social Media

email icon rss icon linked.in icon google plus icon twitter icon facebook icon

Are You Wasting Time With Social Networking for Real Estate?

by J. Lamar Ferren on September 6, 2009 · 15 comments

  

Social NetworkingThere are some Real Estate Investors & Entrepreneurs alike who are wasting their time with Social Networking.

What they’re doing is pointless, annoying, and it needs to stop.

Thousands and thousands of investors have caught onto Web 2.0 Social Networking/Social Media. But Why… What’s the Point?  Even people who have tried it, tend to fall off quickly…

I finally understand why…

You sign up for one of these social networking sites, you create a profile, try to make a bunch of friends… now what? Is that all to it? Are we competing to see who has the most friends or what?

It’s Not About Having The Most Friends

Some people don’t understand the power of Social Networking and they tend to write it off as a waste of time… or something for kids.

If you want to make the most out of your Social Networking, then follow the tips below.

If all you do is request and accept friends all day,  post links to your website, and spam people’s walls with your links, then you are wasting your time and annoying people. So, stop doing it!

However, what most people miss is something that applies to every business, not just real estate. Whether you’re online or offline, the most important thing is to focus on building relationships.

Building Relationships with Social Media

The secret to successfully social networking is not about making the most “friends”, but establishing the most relationships you can build.

How do You Build Relationships Online?

You can start by breaking the ice. 

1. Start by introducing yourself, because its highly likely that the people you are interacting with have no clue who you are or what you’re about.

This is something I began doing because I understood the power of building relationships. I saw that the people that I responded to and interacted with the most, were people who then introduced themselves to me. From there we began building the relationship.

Warning:This isn’t the time to sell them on your business because you don’t want to come off as a salesman. However, you can simply tell them who you are and what you do.  Make it sound interesting, so they’ll respond and get into a conversation with you.  Given the social environment, you’ll want to expose your business in a subtle manner based on the conversation because it creates a more personalized atmosphere that people will be more receptive of.

2. Ask Questions About Who They Are and What They Do, because it’s not all about you.

Building relationships isn’t a one way street. Take an interest in the person you are trying to build a relationship with by asking questions. What do you do? Where are you from? What’s the market like out there? Do you need any help?  What are your goals? etc… 

3.  If they need help, then help them or at least point them in the right direction. (They’ll see immediate value in you, by doing this!)

Because you provided value upfront, you have automatically positioned yourself as a valuable associate that they’ll want to know more about. Now you can begin subtly introducing your business.

Example: Hey I hope I was able assist you with [whatever they needed help on]. By the way, let me know if you come across any good deals in [their city or state]. I’m might be looking to invest in that area pretty soon.

4. Follow Up! Check up on them every now and then.

Don’t bug them everyday, however let them know you are alive and here to help if they need it. NEVER SPAM their page with your websites . I absolutely HATE when people do that and I know I’m not alone!

There are many more things you can do, but this should at least get you started if you haven’t done so.

By leveraging the true power of social networking, you’ll see that it is truly a goldmine.

How Is Social Networking A Goldmine?

1. You Get To Network with Other Investors/ Entrepreneurs
2. You Get To Expose Your Business For Free… on your own profile and to people that are interested (Make sure to build that relationship first and NEVER SPAM)
3. You Can Get Ideas/Help On Whatever You’re Working On!
4. You Get To Share Your Expertise
5. Unlimited Masterminding!

and much much more…

By using social networks the right way, you’ll see the power in it and you’ll begin to transform your life, your business, and your network of like minded individuals. The same way you’d network at a local real estate investing event is pretty much how you should network online. It has definitely helped me to do more deals consistently. Give it a try and watch your business grow.

Your time will no longer be wasted because you’re being more productive.

J. Lamar Ferren

Email *
  



{ 15 comments… read them below or add one }

Dick Rosen September 6, 2009 at 4:22 pm

Social Networking has become just as much of a problem for some as it has become a marketing goldmine for others. Great insight and advice, Thanks.

Reply

Joshua Dorkin September 6, 2009 at 9:06 pm

I agree, Christian. It is actually a sad reflection upon modern society when a post like this is necessary.

Reply

Fashno September 6, 2009 at 11:00 pm

I agreed to the author, and above commenters , When i browse the social networking sites i always wonder to see the persons having more then 5000 and 10000 friends added, I wonder that why Social networking sites are not Blocking these guys as they look 100% fake and advertisers,

Reply

Alex September 7, 2009 at 7:23 am

Truly a great post. There is a fine line between “networking” and spamming.

Like J said, act like a friend and offer help before even speaking about yourself and what you do.

Great stuff.

Reply

Craig September 7, 2009 at 7:01 am

Great point,,,,although I am commenting….so am I wasting time??…….No I totally agree…..Realtors think that everything they say is worth blogging about-if they only knew how petty their comments are!

Reply

Tod R September 7, 2009 at 7:53 am

As a newbie to this social networking stuff, the light bulb shedding light on these great points has just recently come on for me!

Reply

Wes Brown September 7, 2009 at 10:23 am

I agree that you need to stop if you only use the social networking to get as many people linked to you are possible. However, this is an awesome tool we all have now at our disposal to seek out like minded people, learn something new, share information at lite speed. But just like all the media we have ever been blessed with, it gets abused a great deal. I always welcome the opportunity to interact with someone that has something meaningful to say.

Reply

Arthur Harris September 9, 2009 at 4:01 am

Great post J. Social networking is all about building quality relationships with folks who share similar interest.

Reply

Camille Smith September 10, 2009 at 11:01 am

Your right about the importance of social networking for real estate. Of course it is vital to have good relationship especially with potential buyers/clients.

[AD REMOVED FROM COMMENT BY ADMIN]

Reply

J. Lamar Ferren September 10, 2009 at 3:20 pm

Thanks everyone for the great comments. I really do appreciate it and glad you see where I’m coming from.

Also, I wanted to add…Having 5000-10000 friends is fine as long as you’re providing value and building relationships. If you have that many friends just to show off that your BIG Time, then your business will reflect such and you’ll likely witness little to no income and little to know respect. Don’t blow it!

Reply

Mike Henderson September 30, 2009 at 6:53 pm

Interesting points. I used these social networking tools primarily for information. I’d put the aggregate contents of Bigger Pockets against any book, course, or guru.

The comments against the selling aspect etc. I disagree that it is a sad reflection on society. It kind of is, but in this industry we use car magnets, bandit signs, knocking on foreclosure lists etc. The marketing is very aggressive, it’s hard not to let that carry into other avenues of your life. When every marketing piece has a call to action it’s hard to shift out of that mentality. Social media is also a very new medium people like you and the others who responded, know the rules better than most.

Reply

Tom Gidlund October 1, 2009 at 9:10 am

Great insight,with the rush to compete and be successful in this difficult market makes it is so easy to forget the value of relationship building. The introduction, who you are, what you do and reaching out to make a relationship is so important. Some things cannot be accelerated and relationship building is one of those things. I am guilty of forgetting these basics.

Reply

Carrie Dawson October 23, 2009 at 1:07 am

When it comes to internet marketing social media marketing is the most powerful internet marketing now a days. Social networking really helps people in the real estate industry to create quality relationships with people with the same interest.

Reply

Donald Stevens November 2, 2009 at 9:17 am

I am new to social networking. I have found that writing blogs that are based on my expertise helps others understand my product. I don’t require them to buy from me to learn the mysterious and magical solution to their problem. I give them as much info as I can communicate in the blog and they either buy from me and they are informed buyers or they ask better questions from someone else when they buy. Either way, everyone is winning and there is enough business out there for all of us. Social networking is a low cost way to talk to people about what you know.

Reply

Michael Perry December 6, 2009 at 4:32 pm

I’m very happy that much of my competition seems to over rely upon Social Media as a means of building business relationships. Let em Twitter away!

Reply

Leave a Comment

Comment Policy:

• Use your real name and only your name in the field designated for your name.
• No keywords allowed as anchor text in the name or comment fields.
• No signature links allowed under your comments
• You may use links in the body of your comment, but it must be relevant to the discussion at hand, and not merely be some promotional link.
• We will have NO reservations about deleting your content if we feel you are posting merely to get a link without adding value to our discussion.
If you add value, but still post keywords, we'll use your comment, but remove your link and keywords.
• For more information about acceptable practice, see our site rules.

Want your photo to appear next to your comments? Set up your Gravatar today.

Previous post:

Next post: