Real estate is largely founded on relationships. Even in the present day and age of “Instasnap” and the Interweb, most brokers still report that their business is derived from word-of-mouth and referrals. The importance of who you know is far greater than what you know. This statement is not meant to undermine the importance of your know-how. You should obviously still have a basic understanding of the markets. Consume real estate news publications like The Real Deal, BisNOW, Commercial Observer, The Wall Street Journal, and any other media outlet that has up to date headlines on your respective target markets. However, a huge part of success is dictated by the people you meet along the journey.
Here are some tips for the emerging broker:
Find Business Development Groups
We speak for NYC, but we can tell you first-hand that there are a ton of productive business development groups throughout the entire US of A. Biz Dev groups are industry-specific groups that allow like-minded individuals to meet a few times a month and help one another by leveraging existing connections and relationships. It’s one of the fastest ways to grow your network, because you’re literally just utilizing other peoples’ networks by swapping some of your own connections. It’s the ultimate quid-quo-pro tool for real estate. If you’re looking for a new group, shoot us an email at email@example.com and we’ll hook you right up!
Attend Networking Events
There are a multitude of networking events in the city – from the weekly BisNOW speaker events to the monthly REDinNYC work-play events, there are countless ways to get connected with other real estate professionals. Talk to your firm and see if they’ll cover the cost, as most companies will pay for the admission ticket. These are great opportunities to meet brokers, buyers, sellers, owners, developers, and other real estate professionals. Tip: don’t go into any event with a “hire me, buy me” type mentality – rather, go in with a “I want to offer you value and learn more about your business” mindset. You’ll go further by trying to help people, rather than asking to be helped.
Check out our recent event here.
Follow up relentlessly. Emails, calls, texts, DMs, whatever it takes. Don’t stop, and don’t take silence personally. Maybe it’s just a test to see if you really want it.
We had to include this one. After all, we’re a media company. Stay active on your brand awareness and let people know who you are – this can include Instagram, Facebook, Twitter, and LinkedIn. You should be posting something somewhere every single day. Sometimes, schedules get busy and the lunch meetup gets cancelled. So, relive the last time you met up with your client by posting a little #TBT appreciation to your IG, or whatever else floats your boat. At the end of the day, get in front of peoples’ faces (most peoples’ faces are buried in their phones) and force them to remember you! Creating a personal brand on social media is so pivotal to networking because it increases the shelf-life of past events, and maintains a sense of conviviality and fellowship that others can see – it might just lead to a new potential client. For more tools on social media strategy, check out our other blog post.
One of the coolest parts about our industry is the fact that we all like to have fun. We’re not suggesting you go all Jordan Belfort on us, but have fun! Invite your network out for drinks, dinner, lunch, or even some quality weekend time. Who knows? Maybe a business connection could turn into a friendship. Weirder things have happened.
If you would like to be featured on our blog or learn more about how we can help elevate your brand, let us know! We would love to chat!