It’s common sense – to grow your business, you have to grow your real estate network.
But with about 2.5 million real estate agents in the U.S. who are also striving to make connections and generate leads, how do you stand out and expand your network of contacts?
Thriving in the competitive real estate market requires dedication and determination. The key is building and maintaining a strong network of contacts who can help drive new business.
Maybe you know you should be growing your network of contacts further, but it just isn’t happening. Let’s go over 3 reasons your real estate network isn’t expanding, and how you can give it a boost.
1 – You see networking as a job
Any introvert will tell you they dread schmoozing at social gatherings or networking events. But even a social butterfly may tire of trying to make new connections day after day. When you know you must do something like prospecting or lead generation, it can feel like an obligation.
You’re more likely to procrastinate or avoid something that you see as a chore. You won’t see your real estate network grow if you don’t prioritize it. So why not shift your thinking?
Instead of seeing real estate networking as a job or task, start seeing it as a way to make new friends and help people. You’re an expert in your field with knowledge to offer your friends and acquaintances.
2 – You neglect to ask for contact information
Say you strike up a conversation with a woman in line at Starbucks and she mentions that she may be interested in selling her home in the next couple of years. Did you just hand her your business card and say goodbye? You’ve missed an opportunity. The chances of this prospect keeping your card and calling you in 2 years’ time are slim.
You have handed out your card, but you haven’t actually expanded your real estate network because you didn’t ask your new acquaintance for her contact information.
Instead, ask your new contact if she’d like to receive some helpful emails from you about the real estate market and home ownership. Ask her for her email address and phone number and add them immediately to your real estate CRM. You can assign your new prospect to a 2 year nurture campaign and set yourself a reminder to give her a call to touch base in a few months.
3 – You don’t personal and professional contacts to your real estate database
Is everyone you know in your database? They should be. While you may not think of friends, family members, past colleagues from another career, and other business professionals as leads, they very well could be.
Adding personal and professional contacts to your database is a good way to inspire more referral business. Keep in touch with these contacts regularly and let them know you appreciate referrals.
It’s important to build long-term relationships with these people and position yourself as a “home expert” in their mind. Do this by adding them to your real estate contact management system. From there, you can send them your e-Newsletter, put them on a drip marketing campaign, make quarterly keep in touch calls, and more.
Do you recognize any of these reasons as why your real estate network isn’t expanding? Shift your focus to view networking as relationship building. Always ask new contacts for their email address and phone number so you can add them to your real estate CRM. Make sure you add your own personal and professional contacts, too!
If you need a real estate CRM to help you manage your growing database and remind you when it’s time to reach out, IXACT Contact is here to help! Start your 5 week free trial now and watch your real estate network expand!