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WE FIND THE HOUSE OF YOUR DREAMS
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Real estate networking
“
29
DIC
Real estate networking
Real estate networking: tips and benefits of networking
The key to success with real estate networking is to focus on maintaining a good base of relationships, expanding your links between potential clients, colleagues and important people in the field. Always aiming to obtain strategic contacts, that is, to relate to influential people in the sector, who can bring you opportunities in the future.
So that you can do it in the most optimal way you must pay special attention to how to keep an organized record of all your contacts and how to carry out systematic communication. It's no use having thousands of people in your network in the midst of chaos, because you won't know how to contact your links in an orderly manner and achieve your goals.
Never lose sight of the fact that the real estate business is based on human relationships. A fundamental part of this work is linked to prospecting, which is the search for potential clients with properties to add to your portfolio. This task can only be achieved by expanding your networks and maintaining frequent communication.
In this article we will see what real estate networking is; Two approaches thatyou can give it and what benefits it can bring you. Then we will review the two fundamental keys to carry out this modality of work: the 155 contact base and the 40-5-5-1 plan. Finally, we will review how to record the information of your contacts to facilitate your work and how to measure their performance.
What is Real Estate Networking?
Real estate networking is about maximizing the possibilities and benefits that networking can bring. It is a search to expand your contact base strategically, to achieve better work results.
This definition applies to general networking. By focusing on the real estate business and its particularities, the only thing that changes are the specific objectives. In the real estate business the initial goal could be to obtain properties for your portfolio, and the final goal would be the sale of them.
Taking into account these objectives, we can conclude that in real estate networking the most important thing is to have many contacts that can be your potential customers. This is because they are the ones who can contribute their properties for sale to your portfolio, or be the ones who buy those properties thatyou have on offer.
On the other hand,you can focus your Networking strategy towards colleagues and important people in the real estate world, instead of doing it towards potential clients. This can be useful, since with this type of contacts you will get the support that only someone who is effectively involved in the sector can give you.
What benefits can networking bring to your real estate?
If you focus on designing a serious strategy to build your networking, you will get more people to know your work and you will reach the same or better results with less effort. In addition, you will meet incredible minds and talents to incorporate into your real estate and you will be able to keep your methods and tools updated.
On the other hand, as we have seen above, there are two approaches that you can give to real estate networking, target clients or colleagues. Let's see then a list of benefits that each of these focuses can bring you.
3 Benefits of creating a real estate networking aimed at clients
This type of Networking is the most common in the real estate sector, since it is based on capturing and selling properties through contacts. With this in mind, it is essential that you know what benefits it can bring you:
1. Expand your property portfolio: through your contacts you will get more properties for your portfolio. Some links in your network will have properties of their own and others will meet people who are looking to sell one. With networking you will reach them.
2. Build trust: maintaining regular contact with customers or potential customers, youcan generate a close link. If someone trusts you, they are more likely to choose you as their reference real estate broker.
3. Expand your arrival to more people: by generating a link with your contacts, trying to add value and keep you present in a human way, you will get them to recommend you and bring you referrals.
3 Benefits of creating a real estate networking aimed at colleagues
Networking oriented to people within the field is as important as Networking aimed at customers, so you should not lose sight of it. In this constantly evolving business, working as a team and seeing what strategies others adopt is vital. These are 3 of its benefits in particular:
Generate alliances and partnerships: being a partner or having a close professional bond with other brokers can be really beneficial. They will be able to share properties they have in their portfolio, refer to each other and even generate business together.
Exchange information: there are many important data about the field that you can only obtain by contacting other brokers. In case you want to know the prices that the competition is handling or how is the modality of work of a certain real estate, contacting colleagues will be a good option.
Finding mutual support: Learning from the experiences of other colleagues or turning to them when the work is overwhelming can bring you relief and reveal a more human side within the field.
2 Keys to current real estate networking
Now that we have seen what real estate networking is and what its benefits are, let's move on to the 2 fundamental tools that will help you make a successful Networking.
The first is the 155 contact base, which will help you build a solid and right-sized network. Organizing your network in a registry of this type, will facilitate your work and allow you to take into account your strategic contacts at all times.
The second is the 40-5-5-1 contact strategy and serves to maintain systematic and orderly communication. When working with so many people, it is easy to fall into disorganization and lose efficiency when it comes to reaching your contacts, this tool is the solution to establish an orderly and effective contact plan.
Contact Base 155
This strategy is based on generating a contact base that is not too large, so that you can not maintain effective communication with its members, nor too small, so that it does not allow you to generate business from it.
You must form the basis in this way:
To start working with Networking it is essential that you conform to this base. If youhave few contacts, try to add people you get to know little by little, on the other hand, if there are too many, go taking out those with whom you do not have such a good relationship.
40-5-5-1 Strategy
You can use this method to keep in touch with your base regularly. It is based on establishing 4 weekly goals that will help you organize and maintain your links actively. These are the objectives of the plan:
2 Tips for Real Estate Networking
To close this article where we already saw the basics about Real Estate Networking, its approaches and strategies, let's see first how to implement it in an organized way and second, how to count its results.
Now we will see how to register your contacts in the most optimal way. Taking into account that in your base there will be 155 people and you are only one person, organizing their information will be vital so that you do not forget anything and so that communicating with them is easier.
Finally, we will show you a simple way to count the results of your Networking and check its effectiveness.
How to register your contact base?
To register your base you must generate in a digital file a table with the following data of each contact:
Personal data: name and surname, email and telephone.
Optional data: birthday, spouse's name, child's name, if you have pets.
Role: How your relationship with that person is described. Examples: Mother, Father, Partner, Child, Friend.
Type: If your relationship with that person is Personal, Professional, Both.
Proximity: From 1 to 3 you will fill according to how close your relationship is with that person (1 very close, 3 far).
Context: Where you met that person. Examples: family, school, course, etc.
Location: In which city or neighborhood you live.
Strategic: A contact is strategic if potentially their circle of contacts could expand your network. It is answered with Yes or No.
Influence: From 1 to 5 (1 being very strategic and 5 not strategic) is an opening of the previous field.
Mentor: Refers to whether the person was your mentor.
Mind: Whether the person is or was your mentor.
Client: It is filled according to the "fidelity" of the person towards your work, from A to C:
A: You are his reference agent and he recommends every opportunity he hasB: I would refer you without problems but only if you ask himC: I would not refer you but he likes you.
These are the basic data for you to record of each contact. The more information your base has, the easier it will be to define what approach to have with each one. Youcan add more or less data than indicated according to your objectives and preferences.
How to count the results of your Networking?
To count your resultsyou have to pay attention to how many contacts you need to reach a sale. This can be done through the conversion cone. With this tool what is sought is to count after how many contacts I get an appraisal, how many appraisals I need to reach a capture and how many captures end in a sale. This way you can determine how many people you should contact until you get a sale.
Having this screenshot about real estate Networking, its benefits, its approaches and the tools to carry it out, we hope you can take advantage of it, implementing this modality of work in your day to day. We also recommend that you adapt it to your specific needsand your personality, that you apply your "touch" so that the entire flow of your business truly reflects your identity and that of your brand.
In case you have been left with questions or want personalized attention, write to whatsapp Housedeluxe and sto all doubts. Don't forget to keep an eye on our posts.
The key to success with real estate networking is to focus on maintaining a good base of relationships, expanding your links between potential clients, colleagues and important people in the field. Always aiming to obtain strategic contacts, that is, to relate to influential people in the sector, who can bring you opportunities in the future.
So that you can do it in the most optimal way you must pay special attention to how to keep an organized record of all your contacts and how to carry out systematic communication. It's no use having thousands of people in your network in the midst of chaos, because you won't know how to contact your links in an orderly manner and achieve your goals.
Never lose sight of the fact that the real estate business is based on human relationships. A fundamental part of this work is linked to prospecting, which is the search for potential clients with properties to add to your portfolio. This task can only be achieved by expanding your networks and maintaining frequent communication.
In this article we will see what real estate networking is; Two approaches thatyou can give it and what benefits it can bring you. Then we will review the two fundamental keys to carry out this modality of work: the 155 contact base and the 40-5-5-1 plan. Finally, we will review how to record the information of your contacts to facilitate your work and how to measure their performance.
What is Real Estate Networking?
Real estate networking is about maximizing the possibilities and benefits that networking can bring. It is a search to expand your contact base strategically, to achieve better work results.
This definition applies to general networking. By focusing on the real estate business and its particularities, the only thing that changes are the specific objectives. In the real estate business the initial goal could be to obtain properties for your portfolio, and the final goal would be the sale of them.
Taking into account these objectives, we can conclude that in real estate networking the most important thing is to have many contacts that can be your potential customers. This is because they are the ones who can contribute their properties for sale to your portfolio, or be the ones who buy those properties thatyou have on offer.
On the other hand,you can focus your Networking strategy towards colleagues and important people in the real estate world, instead of doing it towards potential clients. This can be useful, since with this type of contacts you will get the support that only someone who is effectively involved in the sector can give you.
What benefits can networking bring to your real estate?
If you focus on designing a serious strategy to build your networking, you will get more people to know your work and you will reach the same or better results with less effort. In addition, you will meet incredible minds and talents to incorporate into your real estate and you will be able to keep your methods and tools updated.
On the other hand, as we have seen above, there are two approaches that you can give to real estate networking, target clients or colleagues. Let's see then a list of benefits that each of these focuses can bring you.
3 Benefits of creating a real estate networking aimed at clients
This type of Networking is the most common in the real estate sector, since it is based on capturing and selling properties through contacts. With this in mind, it is essential that you know what benefits it can bring you:
1. Expand your property portfolio: through your contacts you will get more properties for your portfolio. Some links in your network will have properties of their own and others will meet people who are looking to sell one. With networking you will reach them.
2. Build trust: maintaining regular contact with customers or potential customers, youcan generate a close link. If someone trusts you, they are more likely to choose you as their reference real estate broker.
3. Expand your arrival to more people: by generating a link with your contacts, trying to add value and keep you present in a human way, you will get them to recommend you and bring you referrals.
3 Benefits of creating a real estate networking aimed at colleagues
Networking oriented to people within the field is as important as Networking aimed at customers, so you should not lose sight of it. In this constantly evolving business, working as a team and seeing what strategies others adopt is vital. These are 3 of its benefits in particular:
Generate alliances and partnerships: being a partner or having a close professional bond with other brokers can be really beneficial. They will be able to share properties they have in their portfolio, refer to each other and even generate business together.
Exchange information: there are many important data about the field that you can only obtain by contacting other brokers. In case you want to know the prices that the competition is handling or how is the modality of work of a certain real estate, contacting colleagues will be a good option.
Finding mutual support: Learning from the experiences of other colleagues or turning to them when the work is overwhelming can bring you relief and reveal a more human side within the field.
2 Keys to current real estate networking
Now that we have seen what real estate networking is and what its benefits are, let's move on to the 2 fundamental tools that will help you make a successful Networking.
The first is the 155 contact base, which will help you build a solid and right-sized network. Organizing your network in a registry of this type, will facilitate your work and allow you to take into account your strategic contacts at all times.
The second is the 40-5-5-1 contact strategy and serves to maintain systematic and orderly communication. When working with so many people, it is easy to fall into disorganization and lose efficiency when it comes to reaching your contacts, this tool is the solution to establish an orderly and effective contact plan.
Contact Base 155
This strategy is based on generating a contact base that is not too large, so that you can not maintain effective communication with its members, nor too small, so that it does not allow you to generate business from it.
You must form the basis in this way:
- 5 daily contacts: composed of your closest links, those people with whom it is not difficult for you to contact daily.
- 50 weekly contacts: people you usually see, with whom you have relative confidence.
- 100 monthly contacts: people you get along with, see or talk to once in a while.
To start working with Networking it is essential that you conform to this base. If youhave few contacts, try to add people you get to know little by little, on the other hand, if there are too many, go taking out those with whom you do not have such a good relationship.
40-5-5-1 Strategy
You can use this method to keep in touch with your base regularly. It is based on establishing 4 weekly goals that will help you organize and maintain your links actively. These are the objectives of the plan:
- 40 taps: This is a short, casual contact, message, call, email, or something like that. Although it makes it possible to make yourself present for some people easily and quickly; Do not forget that the contact must be personal, it cannot be a chain or a generic message that you forward to everyone equally.
- 5 coffees: any type of face-to-face contact with someone in your network, an outing for coffee, watching a movie, doing some sport, something that allows you to strengthen your relationship in a genuine and selfless way.
- 5 items of personalized value: these are messages designed especially for a specific contact, taking into account their tastes and particularities. It can be a small present, sharing information that you think might interest him, or mentioning something that reminded you of that person.
- 1 item of massive value: something that you can share massively among your contacts, trying to bring them some value. A good example would be to share in an email chain, a newsletter that you write with information that you think may interest them.
2 Tips for Real Estate Networking
To close this article where we already saw the basics about Real Estate Networking, its approaches and strategies, let's see first how to implement it in an organized way and second, how to count its results.
Now we will see how to register your contacts in the most optimal way. Taking into account that in your base there will be 155 people and you are only one person, organizing their information will be vital so that you do not forget anything and so that communicating with them is easier.
Finally, we will show you a simple way to count the results of your Networking and check its effectiveness.
How to register your contact base?
To register your base you must generate in a digital file a table with the following data of each contact:
Personal data: name and surname, email and telephone.
Optional data: birthday, spouse's name, child's name, if you have pets.
Role: How your relationship with that person is described. Examples: Mother, Father, Partner, Child, Friend.
Type: If your relationship with that person is Personal, Professional, Both.
Proximity: From 1 to 3 you will fill according to how close your relationship is with that person (1 very close, 3 far).
Context: Where you met that person. Examples: family, school, course, etc.
Location: In which city or neighborhood you live.
Strategic: A contact is strategic if potentially their circle of contacts could expand your network. It is answered with Yes or No.
Influence: From 1 to 5 (1 being very strategic and 5 not strategic) is an opening of the previous field.
Mentor: Refers to whether the person was your mentor.
Mind: Whether the person is or was your mentor.
Client: It is filled according to the "fidelity" of the person towards your work, from A to C:
A: You are his reference agent and he recommends every opportunity he hasB: I would refer you without problems but only if you ask himC: I would not refer you but he likes you.
These are the basic data for you to record of each contact. The more information your base has, the easier it will be to define what approach to have with each one. Youcan add more or less data than indicated according to your objectives and preferences.
How to count the results of your Networking?
To count your resultsyou have to pay attention to how many contacts you need to reach a sale. This can be done through the conversion cone. With this tool what is sought is to count after how many contacts I get an appraisal, how many appraisals I need to reach a capture and how many captures end in a sale. This way you can determine how many people you should contact until you get a sale.
Having this screenshot about real estate Networking, its benefits, its approaches and the tools to carry it out, we hope you can take advantage of it, implementing this modality of work in your day to day. We also recommend that you adapt it to your specific needsand your personality, that you apply your "touch" so that the entire flow of your business truly reflects your identity and that of your brand.
In case you have been left with questions or want personalized attention, write to whatsapp Housedeluxe and sto all doubts. Don't forget to keep an eye on our posts.
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