Are You Wasting Time With Social Networking for Real Estate?

3 min read
J. Lamar Ferren

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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