Networking is the lifeblood of success in real estate; this is true for investors and a real estate agents, alike. It’s not just about what you know, but also who you know. Building a robust network can open doors to opportunities, partnerships, and valuable insights. As a real estate investor, here are some of the best and effective networking strategies you can implement to boost your success in the industry.
Proven Strategies for Effective Real Estate Networking
Leverage Online Platforms and Forums
In today’s digital age, online platforms are a goldmine for networking opportunities. Join real estate forums, LinkedIn groups, and social media communities dedicated to real estate investment. Participate in conversations, offer your expertise, and connect with like-minded professionals.
Attend Industry Events and Meetups
By attending real estate conferences, seminars, and local meetups, you can meet potential partners, mentors, and fellow investors. More often than not, these events often feature keynote speakers, workshops, and networking sessions designed to facilitate meaningful connections. To ensure quality networking opportunities, seek out events hosted by reputable organizations and industry leaders.
Join Real Estate Investment Associations (REIAs)
If you’re looking for ways to connect, share knowledge, and collaborate on deals, REIAs are valuable networking hubs. They provide access to a community of experienced investors, industry experts, and service providers. When you go to meetings you’ll be able to build relationships with potential partners and gain useful insights into the local market. If a local real estate investing or landlord group doesn’t already exist in your city, you might want to consider taking the initiative to start one yourself.
Establish An Online Presence
As a real estate investor, you need to make sure people will be able to find you. It’s not only important to have a professional website, but it’s also vital to have social media accounts and even worth considering creating a blog too. Each of these channels is an opportunity for you to demonstrate credibility, but to also showcase your expertise and investment portfolio.
Seek Mentors and Coaches
Building relationships with mentors can lead to introductions to their network and open doors to new opportunities. Mentors and coaches alike can provide invaluable guidance including advice on additional networking strategies. Next time you approach one, ask them to share what networking strategies they find to be most successful.
Offer Value First
Networking isn’t just about what you can get out of it. It’s also about what you can contribute to it. You can provide value to others in your network by sharing knowledge, resources, or referrals. Alternatively, you can actively look for opportunities to help fellow investors or industry professionals. Always offer an extra helping hand. You never know when you might need help, and you’d want people to do the same for you.
Attend Real Estate Auctions and Sheriff Sales
Real estate auctions and sheriff sales are excellent places to meet investors, lenders, and other industry professionals. These events offer a concentrated gathering of individuals actively involved in real estate transactions. Strike up conversations, exchange contact information, and follow up with potential contacts after the event.
Be Genuine and Authentic
When you interact with others, don’t be afraid to be yourself. Being genuine will help you build meaningful, long-term relationships. Instead of approaching networking as a transactional endeavor, establish authentic connections based on mutual respect and shared interests. You’ll notice that the more people trust you, the more likely they will be to collaborate with you.
Follow Up and Nurture Relationships
Remember, networking doesn’t end after the initial introduction. Follow up with your contacts, express gratitude for their time, and find ways to stay in touch. Nurturing relationships, especially with vendors and contractors, requires ongoing communication and mutual support. Be it a birthday, milestone, or an important event, your contacts’ will appreciate it when you acknowledge these occasions. And if you don’t already have a database to categorize your contacts, now is a good time to start one.
When you do follow up with people, make sure it’s personal. If you’re doing so by email, address them by name. You can also mention how or where you met and include some things you may have talked about during your conversation.
Be Professional and Responsive
Whether you communicate with others face-to-face or online, be courteous and respectful. Timely responses to emails and calls, along with prompt follow-ups on action items, demonstrate your commitment to collaboration. Being mindful of your behavior and your appearance is also important. After all, you’re an ambassador for your brand and business so you’ll want to make sure you present yourself with a positive and polished image at all times.
Practice Active Listening
People appreciate when you listen intently. Next time you interact with someone, don’t just make the conversation about yourself. Give them an opportunity to express their thoughts and you might end up learning something about them or find something you share in common. Try not to interrupt them when they’re talking. If you’re patient, they’ll recognize it and likely reciprocate by being equally attentive. Remember, effective networking is a two-way street built on mutual respect.
Best Networking Groups for Realtors in 2023
Now that you’ve discovered strategies on how to network, you’ll want to research which networking groups to actually join. Some of the most popular ones include:
The National Association of Realtors (NAR)
The NAR is the largest professional organization for realtors in the US, that advocates for real estate professionals, promotes ethical practices, and provides valuable resources for realtors to excel in their careers.
Real Estate Educators Association (REEA)
The REEA focuses on providing resources and networking opportunities for real estate educators and trainers.
Real Estate Business Institute (REBI)
The REBI offers advanced education and networking opportunities for real estate professionals.
Women’s Council of Realtors
The Women’s Council of Realtors is a platform designed for women in the real estate industry to network, exchange ideas, and advance their professional development through different education and leadership opportunities.
2023 Upcoming Real Estate Events
After you’ve joined some networking groups, try to stay up-to-date with relevant real estate events. Here’s a list of conferences you won’t want to miss, so be sure to add them to your calendar.
- NAR NXT, The Realtor Experience – November 14-16, Anaheim, CA
- Triple Play 2023 – December 4-7, Atlantic City, NJ
- T3 Leadership Summit – May 1-3, Naples, FL
- Inman Connect – August 8-10, Las Vegas, NV
- Inman Luxury Connect – August 7-8, Las Vegas, NV
- RETCON 2023 – April 2-4, New York
- MIT World Real Estate Forum – June 15-16, Cambridge, MA
- 2023 Realtor Broker Summit – April 18-19, Kansas City, MO
- 2023 Realtors Legislative Meetings Home Front – May 6-11, Washington, D.C.
The Power of Networking
As you can see, building a professional real estate network takes a lot more than just simply exchanging business cards. By being proactive and brushing up on your communication skills you’ll be able to master the art of cultivating meaningful connections. Once you can do that, you can open doors to opportunities, gain valuable insights, and establish mutually beneficial partnerships that can significantly boost your success in the real estate industry.
But remember, networking is a dynamic process that requires genuine engagement, so approach it with sincerity and authenticity. When you’re patient, you’ll find that the relationships you build become more meaningful over time. Networking isn’t easy, but ultimately, it will help you form the foundation for a thriving and successful real estate career.