5 Expert Networking Tips for Real Estate Professionals
When it comes to success in terms of real estate, one important thing to keep in mind is that you’re talking about a marathon, not a sprint. Yes, it’s absolutely true that you can get through one successful transaction – or even a few – on your own merits exclusively.
But especially when you’re talking about a situation like wholesale real estate where you’ll be working with a buyer and a seller in tandem, “natural skill” will only get you so far. You need to turn one successful transaction into two (and then into five, ten, and beyond…), and to get there, you’ll undoubtedly need to rely on the same people more than once.
That means building relationships with people, which means networking as often as you can. Thankfully, elevating your own networking game isn’t necessarily as difficult as some people might assume. You need to lean into best practices like the following to help play to the strengths that make the real estate industry unique.
1. Nurture Existing Relationships
Maybe the number one rule to follow when expanding your networking capabilities as a real estate professional involves nurturing those relationships you already have. Make no mistake about it: it’s difficult to go out there and meet new people, even when you already have something in common, like your career. It’s a lot easier to take the relationships you already have and work on making them stronger, which is exactly what this type of nurturing is all about.
In wholesale real estate, for example, you could reach out to the buyers and sellers you’ve already worked with and see if you can offer them any assistance. Make yourself available for mentoring and other things of that nature. Even if there isn’t anything you can do to help, just trying to check in on them can go a long way.
The short-term benefit is that you keep the relationships you already have. Over the long term, you might just get them to recommend you to someone else as well.
2. Don’t Neglect Industry Events
Another one of the major best practices that you’ll want to follow when networking as a real estate professional involves attending as many industry events and conferences as you can. If you live near a major city, visit your local convention center’s website and just look at the schedule. Typically, there are major events going on every weekend and a lot during the week, too. Make a note of how many of them are real estate-related events. There’s probably a lot more than you would have thought.
Go to as many as possible. Look online for smaller events in your direct area. Go to those, too. Meet new people. Shake hands. Exchange business cards. Strike up a conversation. Do whatever you can to put yourself in an environment where you can introduce yourself to people. At the very least, a lot of these events also have educational opportunities like guest speakers and seminars that will allow you to do things like stay updated on all the latest market trends, too.
3. The Internet is There. Use It
If the events of the last few years taught us anything, it’s that the Internet is a much more valuable professional resource than a lot of people realize. The same is absolutely true of real estate, as there are a number of different online platforms that you should be using to your advantage.
If you’re not on sites like Twitter/X, Facebook, Instagram, and Pinterest at a bare minimum, you should be. You can use them to connect with potential clients and collaborators virtually anywhere.
Note that all of these networks have their own strengths and weaknesses. Instagram would be a great place to post listing photos of that terrific new house you have for sale because it is visual. Facebook would be a great place for longer-form blog posts. Make sure that you play to the strengths that make each platform unique for the best results.
4. Lean Into Your Niche
It’s no secret that the real estate industry is an incredibly competitive place, and it is getting more so all the time. Because of that, resist the urge to try to “do it all.” You don’t want to come off as a “Jack of All Trades, Master of None.” Instead, pick one thing and do it incredibly well. This will become your niche.
Maybe you’re exclusively focused on wholesale real estate or commercial properties, for example. Or, it’s more in line with your interests to work on fixer-uppers that you can pour your proverbial blood, sweat, and tears into. Some people only want to work on rental properties or multifamily units. It doesn’t matter – once you establish a solid expertise, you instantly differentiate yourself from your competitors and attract like-minded partners simultaneously.
5. It’s About Quality, Not Quantity
Finally, think about your real estate career in terms of the long game. That is to say, prioritize quality over quantity when it comes to the connection you’re making.
Find people who are either A) more successful than you are in the exact way you want to be seen or B) who are about even with you in terms of career trajectory, and start reaching out to them as soon as you can. Don’t take the “anyone and everyone” approach. Focus on building meaningful and mutually beneficial relationships, and you will soon begin to expand your network in a way that will serve you well time and again.
Building a Solid Network Takes Time
In the end, while you will absolutely need to rely on the strength of your professional network to guarantee success in real estate, you must also acknowledge that this network won’t be built in a day. As the old saying goes, “Slow and steady wins the race.”
By incorporating tips like the aforementioned five networking strategies, you can empower your ability to forge valuable connections with people as often as you can. That makes it easier to thrive in an increasingly competitive industry, which is part of what will cement the longevity you will soon come to rely on.