I was teaching a networking workshop the other day when a participant remarked, “It seems like I go to so many events, and meet so many people, that I have a hard time keeping up with everyone. Could it be possible to know so many people that it’s actually hurting my business?”

In a word: Yes.

Ideally, you want the breadth of your contact base (the number of people you know) to be perfectly inline with its depth (how well you know those people). In other words, everyone you met would become an old friend, as you took steps to get to know this person better.

However, in the world of real estate, most Realtors are losing sales by doing the exact opposite – meeting a lot of people without taking the time to get to know any one of them better.

The result? Less listings, less referrals and a lot more time spent trying to get leads.

So how do you know if you’ve unsuspectingly fallen into a similar trap? Take this quick Pop Quiz and find out.

• Do you know a lot of people, but can’t remember the last time you got a referral from one of them?
• Do you never have the time to follow up with people you just met (even with a simple little email)?
• If I asked you to find five people from your network who would contribute $100 to a local fundraiser, could you do it in under a week?

If you answered “no” to at least two of those questions, then you probably “know” too many people – and it’s costing you business.

The good news is that by taking one easy step, you’re more likely to increase your sales by 20 percent over the next six months. Ready?

First, pull out your Rolodex and pick out the first five business cards of people you’d like to know better. Don’t worry about how exactly they can help your business, or if you even think they can. One of the first rules in networking is “You never know who the other person knows” and in these situations, this holds especially true.

Second, shoot them an email that reads something like this:

Jane –

How are you? Hey I know we’ve both been super busy lately, but I wanted to see what your schedule looked like over the next couple of weeks for a quick cup of coffee or something. I know it’s been awhile since we talked, and I thought we could catch up. Again, good talking to you and I’m looking forward to getting together.

That email works best for people who work in a corporate environment or for folks you met in a more social setting (e.g., your kid’s soccer match or neighborhood association). When looking to meet up with entrepreneurs or other business professionals, keep the email the same, except replace the last two sentences with this:

I meet a number of people in my travels and would like to learn more about what you do, so if I run across someone who could use your services, I can point them in your direction. Again, good talking to you and I look forward to keeping in touch.

And finally, create a goal of meeting at least one person (from the original five cards you picked out), once a month. At the beginning of the next month, pick out five more cards and do it again.

Remember, people give listings and refer buyers to Realtors they know – not just someone who just drops off a brochure every once in awhile. So before you head out to your next networking event trying to meet new people, consider getting together with one of your “old” contacts. Because you just never know when deepening an existing relationship will help your business more than creating a new one.

Published: June 30, 2004

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As a popular speaker and author of the resource How to Get More Business in Today's Tough Market, Brian specializes in helping busy agents get more leads and close more deals - even in a market as "challenging" as this. For a free report on 2 Easy Ways to Get More Business in Today's Tough Market, just email my office and we'll send it right over.