Realty Times - Networking Goals Gone Bad

Front Page

NEED HELP?

Click for Live Support

Call: 214-353-6980

Networking Goals Gone Bad

by Brian Hilliard

What's the difference between a "good" networking goal and a "bad" one? Easy.

The former is focused exclusively on securing quality business contacts, while the latter looks at how much business you closed that night. In other words, good networking goals aren't focused on "working the room" but instead use other criteria to measure the success of the event.

As Realtors we can be so focused on meeting a new prospect, that we sometimes lose track of the fact that it's really not the point. Sure you'd like to meet someone who's looking to buy or sell a house right now, but that's not the reason (or shouldn't be) you go out and network.

You do it so you can secure quality business contacts who may or may not need your services right now, but perhaps know someone who will over the next couple of months. Or, they might even be moving themselves in the near future.

Regardless of the situation, here's the point: Don't get so wrapped up in "networking" for someone who's looking to buy a home right now, that you lose track of all the other people who can help you achieve that very same result.

Now being the successful, achievement-oriented person you are, I'm sure you'd agree that one of the best ways to accomplish this task is to create a rock solid networking strategy, choc full of specific goals designed to keep you pointed in the right direction.

So with that in mind, let's take a look at a few of my favorites:

Attend 2-3 networking events each week. If you're attending fewer than two events then you're probably not getting out enough and meeting new people. This is especially true if you're just starting out in the world of Real Estate, where your existing client list might not be as robust as some of the more seasoned Realtors.

And if you're attending more than three events, then you run the risk of throwing some of your other areas of responsibilities out of whack, since you're spending so much of your time outside the office.

Meet between 3-5 people at each event. What you're doing here is striking a balance between "working the room" (handing out as many business cards as you can), and talking to the same person all night. Personally, I recommend spending about 5-7 minutes with each new contact. This will give you plenty of time to have a good conversation and ask some good questions.

I also recommend capturing some of the key conversation notes on the back of their business card. That way, when you're sending them a "nice to have met you" email, you'll have plenty of information to reference.

Have coffee with a newly formed contact once a week. I've found coffee to be a great way to get to know someone whom I just met. Now the only trick here is that our society has gotten so leery of "sales people" that your new contact might jump to the mistaken conclusion that you're trying to "sell them something".

So here's how you get around that. Send them an email that looks like this:

Matt - My name is Virginia Cowden and I'm the Realtor with Keller Williams who met you at the Chamber event the other night. Hey listen, during the short time we spoke, you struck me as a thoughtful, engaging businessperson, and I was thinking maybe we could carve out 20 minutes to have coffee.
I meet a number of different people in my travels, and would like to learn a little bit more about what you do, so if I do meet someone who could use your services, I can point them in your direction. Right now I'm pretty booked until the 26th, but starting that Wednesday (the 27th), my schedule's wide open. So just let me know what works best for you and we can go from there.
Again, it was good talking to you, and if I can help out in any way, please let me know.

Notice the second paragraph? That lets them know you're not trying to sell them something, but rather just want to spend time getting to know them. Of the many times I've used this email, it's worked more than 60 percent of the time.

Have coffee/lunch with an existing contact once a month. Not only do you want to reinforce new relationships you create throughout the community, but you also want to keep in touch with your existing contact base as well.

All you have to do is go through your database, and check off the first three names of people you haven't talked to in a while (assuming it's a person who's company you like to keep), and then shoot off a quick email saying how busy you both have been, and that you'd like to "catch up" over coffee. If at the end of the email you say, "What does your calendar look like over the next couple of weeks," you should be well on your way to reconnecting with this person.

Now did you notice how none of those goals had anything to do with meeting a person who could use your services right now? But don't despair, because that's the beauty of the system.

Bottom line: If you attend a couple of events a week, and you go out to coffee a few times a month, then the number of legitimate prospects you have will go up.

Why?

Because everyone moves. (According to the latest numbers I saw, the average homeowner moves six times in their lifetime.) And when they do, you want to be the knowledgeable professional they turn to.

Which of course is exactly what "good" networking goals do … keep you in the game, meeting new people, and being there when that time comes.

Published: April 16, 2004

Use of this article without permission is a violation of federal copyright laws.

Related Articles:

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.

Real Estate News Network