Network Your Way To Success

Some folks are just born with the gift or “gab” and some are not. If you are one of the “nots”, then it is especially important for you to read this post.

It is absolutely essential to become adept at networking if you want to grow your business. Think about it for a minute. People have to know about your business before they can take advantage of your products and services. So getting the word out has to be on the top of your “to do list”.  There are many ways to do this.  However, putting a face and a personality to your business will help it grow by leaps and bounds. People like to do business with people they know and like.

What is network marketing?

Network marketing is where you establish relationships that will last beyond the initial contact. These relationships can drive more business your way both directly and indirectly. Just like you would with your friends and family, you have to nurture these business relationships. As a bonus, over time you find that you will also develop many lasting friendships. 

One of the biggest mistakes most real estate investors make when networking is focusing on themselves and their needs first. When you meet someone new, find out as much about them as you can. Ask questions about their business. Show a sincere interest in what they do. People love to tell you about themselves. When they ask you about your business, have a short 2-3 minute spiel about what you do and how you might be able to help them in some way. Helping someone else get what they want and putting their needs ahead of yours, is the fastest way to build these relationships. Another thing to remember is not to try to network the whole room. When you attend an event you should try to meet 3-4 new people and find a reason to follow up with them. It’s following up with them after the initial contact that usually leads to opportunities for you as a real estate investor. Develop some type of follow up system early in your business. Your first contact could be something as simple as sending them a note a few days after your initial meeting telling them you enjoyed speaking with them and learning about their business.

To grow your business, you will want to promote it and educate as many people as you can about what you do. You can start with your own circle of influence such as your friends and family. Let everyone you come in contact with know about your business. Next you should look at local organizations. There are many groups and organizations in your area that you can become a part of.

First and foremost you should join your local REIA group. By joining the real estate investing association in your area, this will put you in touch with dozens if not hundreds of like minded folks. In my group we have hundreds of investors at our meetings each month, and there are real estate investors of all levels of experience. These are not only great places to buy and sell properties, but are a great resource for advancing your real estate education.

Next you might want to look at other groups such as apartment or landlord associations especially if you intend to buy and hold. Some real estate investors like to network at their local homebuilders association. Did you know that you can join your local board of Realtors in most areas as an affiliate member? In this group you will find mortgage brokers, inspectors and all sorts of folks that work with real estate in one way or another. You will also have many opportunities to network with Realtors when you belong to this group. Other people you can get to know and network with are contractors, bankers, probate/foreclosure/closing attorneys and city code officials. The list is endless.

There are also many national groups such as BNI and NAWBO (the National Association of Women Business Owners) just to name a few. Check around and find groups that interest you and start networking your way to success!