Sales & Marketing Playbook
3 Steps to Networking
How can you get started?
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At this point, networking feels like a buzzword, but the practice can pay real dividends, so it is important not to discount it. We all know referrals book at a steep rate and tend to pay well, so we all want those referrals.
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To be truly successful in residential sales, you need a wide network of referral partners. A great goal is to have 35 people who each send you three referrals a year. When you achieve that, you will see two referral customers every week. That said, if networking is not yet a big part of your routine, how do you get started? Let’s break it down into three first steps.
Assess Your Efforts
The point of the Networking Score Card is to grow your business. Take time to consider each question. Be honest with yourself. How well are you really doing in building your referral network? When you network successfully, you take control of your career .
Step 1
Who Should I Network With? ​
The best place to start is always with those in the real estate industry. Most people moving a long distance are homeowners – and when a homeowner lists a home for sale, the real estate agent is their trusted partner. When their trusted real estate agent recommends any service provider, it is a strong endorsement. You want to be that provider.
In this industry, our target customer is a high-net-worth household in a nice neighborhood. You want to target real estate offices serving those customers. Research online to see which offices are large and successful, or simply look at which offices’ signs you see in the nice neighborhoods. To help you get started, here is a link to a directory of the National Association of Realtors, as well as state associations.
Studies show 20 percent of real estate agents produce 80 percent of the sales. Your goal is to identify and target that top 20 percent of offices (target offices) and agents.
FIRST:
Ask your customer about their real estate agent. Anything nice they say is important. Write it down.
NEXT:
When you call the Realtor, your opener is, “I got some feedback from the Johnson family, and I thought you would want to know.” That can be on a voicemail or in a conversation. EVERYONE likes positive feedback, so be sure to relay that praise to the agent.
THEN:
Close your voicemail or phone call with, “I appreciate the opportunity to work with you on the Johnson’s move. We will do everything to ensure they have a great transaction with you. I would love to work with you more. I will drop off some information at your office. Will you be there tomorrow morning at 10:00?”
Step 2
Once I've identified target offices, what next? ​
In most real estate offices that do significant sales volume, they hold regular office meetings or sales meetings with their agents. Your next goal is to get yourself invited to an upcoming meeting. That will be your opportunity to meet agents, tell your story and introduce yourself and your agency.
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If you do not know anyone at an office, just start with visiting their location. Enter with a smile, your business card and an upbeat attitude. Here are some suggestions on what to say:
Even if you only speak with the receptionist, be sure to learn their name and something about them. Write that down so next time you visit, you can say, “Hi Julie, great to see you again!”
When you attend the meeting, you will usually have 3-5 minutes to introduce yourself. Be sure to have a smooth 3-minute speech prepared! Pro tip: always offer a giveaway – something like a $25 Starbucks card. Have them give you their cards so you can draw the winner.
Be friendly and outgoing, and meet as many real estate agents as possible. Be sure to collect their cards for follow-up.
For more ideas on what to do in a real estate meeting, contact your Regional Sales Director.
Step 3
Follow Up! ​
One of your biggest challenges is that real estate professionals meet a LOT of people. Every day. And you need them to remember YOU. Especially when their client needs a mover!
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Persistence is the art of sales. Email is a tremendous tool to communicate with your Realtor contacts. Personalized notes are the best, but a monthly or quarterly email newsletter is very effective as well. When you work with a Realtor’s client, ALWAYS keep the real estate agent informed – and always, always, thank your referral sources.
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Another part of follow-up is getting to another sales meeting. Ideally, if a large office lets you come back monthly (or more often) to their meetings, always say yes! Each time you meet more agents, and each time you have a chance to cement the relationships you’ve begun.
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Some of our agents have built some very successful and innovative programs:
Co-branding (with approval from the office ownership) in customer brochures. Some agents have even developed targeted postcard mailing programs with co-branded cards. First Movers Advantage (Mark Sextro) can assist with identifying and mailing to specific real estate brands.
Providing Continuing Education (CE) classes. Some agents have developed a course in ‘Moving 101’ and gotten certified for real estate agents’ required continuing education hours.
Resources
Real Estate ToolKit
Download this guide to learn more about driving local brand recognition and strengthening relationships with local real estate agents.
Cameron Eversole, AMS Relocation, Inc.
Hear some ideas from network agent, Cameron Eversole, on successful networking.
ALL ABOUT YOUR LOCAL REAL ESTATE OFFICE
Real estate is a major industry, populated by various professionals working tirelessly. At the forefront are real estate brokers and agents, integral in facilitating property transactions. Brokers undergo additional licensing, empowering them to operate independently or lead agencies. They hold a fiduciary responsibility, overseeing agents, and ensuring legal compliance. Conversely, agents work under brokers, assisting clients in buying, selling or renting properties.
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Office ownership varies, from individual brokers running boutique agencies to larger conglomerates. Owning an office grants autonomy in branding, strategy and client interactions. Boutique agencies emphasize personalized service, fostering strong local connections. Contrastingly, national brands leverage established recognition, offering extensive resources and marketing power.
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National brands, such as Century 21, Keller Williams and RE/MAX, wield significant influence, attracting agents and clients with their reputable name and infrastructure. They provide training, technology and marketing support, aiding agents in their endeavors. Yet, smaller agencies foster a sense of community, promoting a more intimate client-agent relationship.