If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
For realtors, networking is a must, but there is a right way, and many wrong ways to do it. The secret to success in networking is quite simple. There are hundreds of events going on in your area that you many not even know about that will allow you to get your name out to dozens of people you would never have contacted before.
Join Your Local Chamber Or BNI
Organizations like your local chamber, BNI groups, LeTip, and even using meetup.com to find more groups to join if the fit’s right. Now let me get to the nitty gritty of how to succeed in networking whether you are a real estate broker, agent, or mortgage lender.
It’s all about the relationship you develop with the person. Be more interested in THEM than you are in selling your service to them. Spend 80 percent of your time listening, and 20% asking (and answering) questions. This ratio will “eventually” get you tons of referrals.
If you take this advice, and really, really be interested in them, what do you do after the conversation is near a close? Get their business card! Even if you don’t give them yours, you want theirs, so you can follow up with them, thanking them for their time, and letting them know you want to help them in THEIR business.
Send A Follow Up Card
How do you do it? As I have mentioned (shameless plug) briefly before, right when you get back to your office you log into your account we’ve created for you, you find an appropriate card (this is a REAL card), type a nice message (in your handwriting and with your signature) with no sales plug, insert your picture, and phone number, and send it off.
The impact of this action done consistently will EXPLODE your business…I can assure you!
Networking Disaster
I was recently approached at a networking event by a mortgage lender. They handed me their card without me even asking for it..ouch! They proceeded to ask me if I know anyone who needed a mortgage? Even if I did, I did not even know this person, and was not impressed how they approached me.
When I looked at their business card, it was laminated on both sides which makes it very difficult to write on the back any notes about the person, so you can remember it when you send your card. So make sure to have the back side of your card just paper, no glossy finish.
This person didn’t even ask for my card (nor did I want to give it to him). So based on this interaction, do you think he passed my test from the information you’ve read at the beginning of this article. NOT! I hope I have opened your eyes to the importance of the proper way to network that will build strong relationships with each and every person you come in contact with. And remember…each person knows at least 250 people you don’t know, so keep that in mind next time you network for your real estate business.
Contact Me if you want to find out more about this unique online marketing system for real estate professionals.
And as always, I’d love to hear from you! Give me a shout out down below and some FB or Twitter love! Thanks so much!
Mike Pedersen has been an entrepreneur his entire adult life, and really enjoys helping golf professionals, and small businesses grow their revenue through online internet marketing strategies.
4. September 2010 at 1:42 am
Very good info. Your blog will be a godsend for beginners. I am going to share this with my realtor friends. Good job.
6. September 2010 at 1:57 am
Mike, this is great info. Your story is one I have seen many times. Your heart just goes out to them because you know they mean well and try so hard.
So many of us spend years in school getting specialized degrees but then fail to educate themselves in the art of networking.
I look forward to your next blog article.
Chris
Twitter: mikepedersen
Says:
6. September 2010 at 8:08 pm
Thanks @Dory I appreciate you stopping by.
Thanks also @Kris Your feedback is always welcome my friend. I would strongly recommend your blog to any struggling networker.
8. September 2010 at 3:18 am
Mike, that is very sound advice. Not just for realtors though. The exact same principles hold true online. I see it all the time. The people who come to Facebook and the first thing they do is introduce their business and what they can do to help you (if you buy their services). I will send them all to your blog post Mike. They have a long way to go, and this might be a great place for them to start.
karin@social bookmarking recently posted..Why I use Disqus as the comment system on my blog disqus comments
8. September 2010 at 8:56 am
Hey Mike,
Great tips here. Going to a networking meeting can be quote daunting at first. They’re not something I’ve done much of lately (and I’m not sure why, thinking about it) but initially I found that there were established cliques and it was working out to be a very expensive way to get breakfast or dinner! However, by applying the 80/20 per your article, it was possible to make real progress.
Thanks again for the article. I shall have to dust off the contacts list for my local meetings!
Regards,
Andrew
Andrew Sayers – Personal Development recently posted..Get Your Mind in Gear
9. September 2010 at 1:26 am
Mike,
You sure know the correct way to network and the incorrect way as well. We would have had the same reaction to the mortgage broker that tried to network with you.
As you stated, you have to start by showing true and sincere interest in them and discovering how you can help them first and then let them inquire about your business. We love to see more and more people that have this figured out and you are one of them and your success will show it.
Great post, Mike!
Dave and Dawn
Dave and Dawn Cook recently posted..Do you want to make money now online
Twitter: mikepedersen
Says:
9. September 2010 at 1:34 am
@DaveandDawn Thank you for the kind words
I appreciate you taking the time to read AND comment on my blog.
@Andrew Thanks man! I agree with you that they can get kind of pricey and cliqueish.
Twitter: mikepedersen
Says:
9. September 2010 at 1:36 am
@Karin Yes…it happens all the time online. People are too into themselves, and show no interest in the other person. People need to be more INTERESTED than interesting, and they’ll get a lot further.
9. September 2010 at 1:42 am
Great post Mike! I mean it. Very helpful.
I coach Realtors in the US and Canada and this is valuable advice. It’s truly about getting business cards not giving them out.
Anyone who’s been to a networking event likely had this experience happen to them or may have done it ourselves.
Many new network marketers are trained to do this by what’s called the 3 Foot Rule. Hand a business card to anyone within 3 feet. Millions of business cards are handed out each year without a call back.
The biggest difference in my life is shifting my mentality of a hunter where I go out for the kill in one shot so I can eat for a day to a farmer planting seeds and growing relationships to reap a plentiful harvest.
Thanks Mike! I will follow your blog.
To Your Genius,
Eiji
Eiji “A.G.” Morishita recently posted..Time – Our Most Valuable Commodity
Twitter: mikepedersen
Says:
10. September 2010 at 11:35 am
Thanks AG! I couldn’t agree more. My goal is to always get 2-3 business cards a day, and follow up with a thoughtful, REAL card to start the dialogue. This is a very effective way to build relationships and future business.
Cheers,
Mike
10. September 2010 at 1:35 pm
Hi Mike,
Fabulous networking tips… focusing on the people you are interacting with and not yourself is absolute key! How on earth can we be interested in someone like the guy you described?!
I love the card idea!
Kind regards,
Emma
10. September 2010 at 5:50 pm
Nice post Mike,
As a small business owner myself, Ive been a member of Chambers, BNI and Meet-up groups. Developing relationships and in some cases good friendships can take a little time. But well worth the time and investment, particularly when your serving local communities.
Continued success,
Mike Sweeney
Mike Sweeney recently posted..Starting a home based business
10. September 2010 at 7:06 pm
Hey Mike,
Really great post about networking. I remember the first time I got involved in networking forums. I was totally out of my element. I learned over time and from other top professionals what I was doing wrong.
Thankfully we all can learn what it takes to be good networkers.
Have an awesome week.
Jerome Ratliff
Jerome Ratliff recently posted..Participate in the Thank You Party and Get More
10. September 2010 at 7:23 pm
Great post mike,
It seems people forget every time you tell someone about something you’ve tried that works. That’s networking. Why people don’t reach out to help businesses in there area grow when they themselves grow in the process is beyond me. There really not your combination there your resource. It’s all in the outlook
Sincerely
Monty Ferbert
17. September 2010 at 2:19 pm
great post regardless of your industry. Networking should be about getting to know people and giving them a reason to want to help you. Lots of times we forget that. I think it is partly caused by an immaturity created by our widespread sense of entitlement.
19. September 2010 at 12:01 pm
I’m not a realtor, but I love sending notes and making notes on the back of the card. Never thought about the laminating though. Off to check my cards. Thanks.
20. September 2010 at 7:36 pm
Very helpful information Mike I don’t do a ton of local events probably because I have never had too much luck with them. I have since learned this technique in the internet world of marketing. You have to give and care in order to receive.
I never gave a second thought to re approaching local events for networking and trying these techniques. You can bet I will be looking for the next local event.
Thanks
Rob
Rob Franta recently posted..Need motivation Think you can’t do it You’re Crazy!
24. September 2010 at 11:39 pm
Hey Mike,
This is solid networking information.
I passed this post along to my wife who is a Real Estate Agent.
One of the best decisions we made was to join our local Chamber. It is an awesome way to network and meet new people.
I am active and volunteer for the local community events that helps us give back to the community.
Thanks for the post!
Tommy D.
Tommy DiPietro | MLM Sales recently posted..MLM Sales Strategy of Using Your WordPress Blog To Become An American Idol
28. September 2010 at 10:27 pm
Some time ago, I really needed to buy a good house for my corporation but I didn’t have enough money and could not purchase something. Thank goodness my mother suggested to take the personal loans at banks. Thence, I acted so and was happy with my car loan.
29. September 2010 at 10:48 pm
Great advice. What I’ve done is go to Seminars, Workshops, and found great connections through networking there. (sometimes, not even directly, but through second or third generation contacts.)
Networking may take numerous forms… but it is the only way any business, small or large, becomes successful.
Paul Klaszus recently posted..The Blame Game