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“It isn’t just what you know, and it isn’t just who you know.
It’s actually who you know, who knows you, and what you do for a living.” Bob Burg

Do I have to Network to succeed in Real Estate?

Yes!  I know you may have wanted a different answer, but this is the honest truth. Networking is such an important part of your business. You must introduce yourself and let others know what you are doing. Everyone can be a referral resource for you… and you for them.  The best book I’ve read to help me to become more comfortable with the idea of networking is called ‘How to Win Friends and Influence People’ by Dale Carnegie. It’s a great book that helps you to understand why you need to network with others as well as teaching you exactly how and what to say when you meet with new contacts.

Throughout my own 30 years of owning several businesses, (W0W – Am I that old?!), I can honestly say personal networking has been the most effective … and the most fun way to market myself!  Of course, my belief in the power of networking is reflected as I founded a networking group called Women’s Success Group, (a nonprofit networking group benefiting our Women’s Center since 1998), and now putting together the Investor Community of Central Valley.

How to  Network Your Way to REI Success

As a real estate investor, where can I reach out to network my business

1)      Search Real Estate Investor Clubs in Your Area.

2)      Check meetings and trainings for local Real Estate Associations.

3)      Check meetings and trainings at local Title Companies.

4)      Check on handyman, builders and contractor associations in your area.

5)      Ask everyone you talk to for referrals for networking events that have worked for them.

6)      Of course chamber events and networking clubs that meet at breakfast and lunch are a general source to get to know the general public.

What do I say?
Just remember the acronym F.R.I.E.N.D.S.

I know the biggest fear and reason many people don’t attend networking events is they don’t know how to approach or what to say to others when first meeting them. I am going to give you a script that will be easy for you to memorize…

For every person you come in contact with at any type of networking meeting, your conversation might go something like this:  Just remember the acronym FRIENDS:

F F is for Forthright. Be forthright in reaching out and saying hi.  Don’t wait for others to come to you.

• “Hi there, my name’s __________.  What’s your name?”

R R is for Remember.  You need to first always remember to ask them their name.

• Ask for their card – and them hand them yours.

I I is for Income.  Ask them what they do for a living? How do they make their income?

• “Say their name, and ask “What is it that you do?”

E E is for Everyone. Everyone likes to talk about themselves.

• Ask questions like, “How long have you been doing this?”  or “What do you like most about what you do?”

N N is for New Business. No matter if the person you are talking to has an occupation that is real estate related or not, you will want to find ways you both can support each other .

• Ask : “What sort of clientele could I refer to bring you additional new business?

D D is for Determine.  After listening for possible ways to support each other, Determine where to take this relationship from this point.

S S is for SUMMARIZE: When the time comes to share what you do, be prepared! Have a 30 second summary of what it is you could say to leave an impression on your new friend.

1)      Hand everyone you network with your card.

2)      Summarize your business in 30 seconds or less.  This is where spending time writing down how you want to market you and your business is important. You want to be concise and clear in describing what you do and what types of referrals would be most helpful.  Try to incorporate something that differentiates you from the rest?

SAMPLE: REI 30 Second Commercials

When Networking
ALWAYS REMEMBER these 6 things…

1. The important thing is that you are interested in what they do for a living.
2. Don’t talk about yourself until asked or the timing is right.
3. Ask them questions about their occupation and how you can be of support to them in their line of work.
4. If this person is a potential power team member for you, ask if you could contact them in the future. (You would be able to follow your list of questions for power team members and take notes when you called them back)
5. Make sure to collect a card from everyone you meet
6. Make sure you have their email address, fax, cell, and correct spelling of first and last name. (Write on the back of the card if any of this information is missing – it shows your interested!)

Questions To Ask When You Meet Real Estate Investors

• “Do you buy, fix and sell or do you buy and hold?”

• “How many properties do you own and/or have you sold?”

• “What part of town do you invest in?”

• “Really, why that area?”

• “What do properties cost in that area?

• “Do you pay cash for them or what banks do you use that are investor friendly?”
• “What title company do you enjoy using the most?”

• “Do you know any of the other people here?”

• “Who are the big investors in this area?”

• “If you ever come across some good deals and you don’t want them let me know.”

• “By the way, do you have any property you want to sell?”
• “We sometimes have properties for sale as well, if you’re looking to increase your inventory.”
• “Well, Mr. /Ms. Investor based on what you told me and where you prefer to buy; if anything comes along I’ll make sure to call you first”.

Final Important Points To Maximize Your Networking

Always write notes on the back of business cards you collect, helping you remember the next steps you will want to take with this contact in the future.  Often times, just a “nice meeting you” card in the mail or email can be seen as a memorable gesture encouraging future communication to support each other’s business needs.

Networking should be a part of everyone’s marketing plan.
ATTEND, JOIN, PARTICPATE, etc…
Whatever you want to call it…

…the important thing is to have fun

… as you get in front of people and

NETWORK YOUR WAY TO REI SUCCESS!

www.investorcommunityofcentralvalley.com

Article written by Tamera Aragon www.tameraaragon.com

Originally posted 2010-01-22 17:18:45. Republished by Blog Post Promoter

So what is the summit? Well, according to the dictionary, the summit is the “highest level or degree that can be attained”.

The Rise to the “Summit” in life and career is the ultimate goal for many people. If you are one that is looking to rise to the Summit in Real Estate Investing, Calendar yourself to join me in Northern Ca for the most powerful Real Estate Investing Training event you will ever have the chance to be a part of.  I just attended the Orlando Investor Summit and was in awe at the experience.  This is why I am honored the Gerald Rogers, The Founder of Investor Summit has allowed me to participate in putting together his event in for the West Coast Investor Summit – a powerful 3  day real estate and personal growth event on May 21,22 and 23^rd.

Space is limited.  Go here to grab your complimentary seat – for this PRICELESS event.

One of the concepts that I learned at the East Coast Investor Summit… is this: I’ve came to the realization that it’s not possible to maintain close relationships with everyone you meet. There simply isn’t enough time in the day.

I recently discovered some success concepts that a guy by the name of Dave Stech shared that I would like to share with you.

About Dave Stech: Dave held executive positions for 2 well-known Fortune 50 companies for over 20 years, has early-retired twice, is an active real estate investor (e.g. one of his team’s strengths is research & due diligence), and places taking care of his family at the top of his list of priorities.

I recently read an article written by Stewart Hsu where 3 of Dave’s insightful and inspiring ideas were shared.  These have already made a huge impact on my life since I began applying them. These are more than just words of wisdom; if you read with your heart, I think you’ll notice there’s some other “positive energy” or “spiritual rightness” to them — that applies not only to business, but to life.

Dave Stech Success Concept #1: Give First

If you have ever been to a networking event, 90% of the people typically go with the wrong idea in mind. They walk in asking themselves, “who can I meet that can help me?” Not that this is necessarily bad, but that there is a better way. Have you ever known someone that was a “taker”? Where they’re always trying to get something from you, whether it’s your ideas, money, or time? It can be draining, right? Don’t you prefer to hang out with “givers”, i.e. people who contribute ideas, energy and time? People who help you move towards your goals? Be like the kind of person you would prefer spending your time with.

John F Kennedy said it well, when he prompted the American public to “Ask not what your country can do for you, but what you can do for your country.” The same idea applies on the smaller, more immediate scale for each one of us, i.e. with those we interact with on a daily basis. This applies to whether it’s a family member, a business partner, or someone you’re meeting for the first time at a networking event.

Offer and take steps to add value first. Call it good manners, good karma, or “paying it forward” – whatever the label, it’s like magic, and better yet, it works.

Perhaps more importantly, it’s simply a better way to be. You’ll feel better for helping others. You’ll feel more positive, and with that positive feeling you’ll accomplish more. A potential indirect benefit I should mention is that someone might feel like they now “owe you a favor”. Though I caution you not to give only because you expect to receive from that person later on. This might seem a bit self-contradicting, but the more genuine and selfless your intention when you give, the more unexpected goodness, from unexpected sources, will come back to you.

Watch for part 2 of this blog sharing a common sense approach on how to choose for your business associates and the “power of 6”.

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