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Real Estate News and Advice |
November 20, 2008 |
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Leveraging Your Contacts Can Grow Your Real Estate Business
by Brian Hilliard
Throughout the past year, we've addressed a number of different networking techniques that can help you grow your business and meet new people. You've learned how to increase your referral-based business from existing clients and how the 12 x 12 x 12 rule can manage the perception others have of you. You know three easy questions to make you stand out with everyone you meet and you've developed a set of networking goals to get you the results you deserve. In short, you're networking like a pro! But if you want to take yourself to the next level, then developing a close group of business contacts is a great first step. I refer to these contacts as your "inner circle," and as a networking professional myself, I've found this to be one of the most difficult skills to master. Why? Because developing those relationships requires commitment from both individuals. And in our fast food, drive-thru, "Do you want fries with that?" culture, most people don't have the patience required to create such close business contacts. Instead, they would rather meet five new people at their next networking event, hoping that one or two might be good contacts, instead of having coffee with someone they already know and deepening that relationship. Because when you think about it, the people you know the best probably know you pretty well too. And if that's the case, why not continue to develop that mutually beneficial relationship? Still not convinced? Here are a couple of quick reasons why I recommend developing an "inner circle" of business professionals. They can provide referrals. As most Realtors will attest to, referrals are the lifeblood of any successful enterprise. Outside of the customers you work with every day, who better to give you a referral than a close professional contact that knows your business and is comfortable with the service you provide? Personally, when it comes to referrals, I only give them to people I've come to know over a series of phone calls, emails, and maybe even coffee. I don't want to risk putting my name on the line by referring someone to another person I don't know very well. As an example, I have an inner circle friend of mine to whom I've referred clients for more than a year, and we enjoy talking shop every once in a while over a bite to eat. Little did I know that prior to us getting together one day, she'd been thinking about me for a potential speaking opportunity, and our lunch provided the perfect outlet for that referral to be passed along. Boy was I surprised! And to think that it could have just as easily gone the other way if neither of us had made it a priority to get together that afternoon. You can bounce ideas off of them. Let's face it, no matter how smart or how sharp you and your team might be, it's never a bad idea to bounce some ideas off of a third party. Whether you've been in the business for over 10 years, or you're just breaking into the ranks, having that "extra" person around can do wonders for your professional success. If you don't have someone in your business world who's filling that role for you, your first stop should be your broker. They've "been around the block" a few times, and would know a thing or two about how to be successful. I'd also consider looking into a good business coach specializing in the world of Real Estate. They can help you decide which ideas are right, which ones are not so right, and how you can most effectively grow your business. While you're at it, take a closer look at your existing contact list and see if someone catches your eye. You only need two or three people to start off with, so make sure you pick people who will be up for the task. You're obviously not going to call them up and ask, "Would you like you to join my inner circle?" But, you can call them and ask if they'd like to have lunch in the next couple of weeks. Be sure to let them know beforehand that you'd like to bounce some business ideas off of them, and see what they say. You just never know what direction a relationship will take once a little time and effort is put into it. "All right, now what?" Great question. Start out by making a few phone calls (or emails) to three non-Realtor business professionals who you think would fit the bill. Then make it a priority to go out for coffee with at least one person from this "inner circle" each month. After that, see where the conversation takes you. With the start of the busy summer selling season only a few months away, developing an "inner circle" is a great first step towards planting the seeds of success. Published: February 16, 2004 Use of this article without permission is a violation of federal copyright laws. Related Articles:
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