June 17, 2021
Marketing

The 5 Key Benefits of Networking in Real Estate

Teamwork makes the dream works, as they say.

We've all heard the cliché quotes, this quote, in particular, holds true in almost every profession out there– especially in the world of real estate. The ability to form working relationships with other professionals in real estate, to listen, learn, and share ideas is a powerful tool known as networking.

No matter the industry you work in, the benefits you gain from networking are invaluable to your personal and professional growth. If you’re not convinced, we’ve broken down the 5 reasons we think networking is essential as a real estate professional.

Why Networking Is Uncomfortable For Some People

Before we dive into the benefits, let’s put your potential worries at ease. Networking in real estate is all about widening your circle of professionals to share and receive knowledge, insights, potential market trends, advice, and plenty more. It’s about building authentic working relationships to better your careers and others in your circle.

Now there are a few reasons people may prefer not to network.

  1. You could feel uncomfortable reaching out to strangers.
  2. You think it’s weird that you’re using other people for your own benefit.

Luckily for all real estate professionals, being uncomfortable may not be a huge issue: your careers are founded on forming good relationships with clients and other people. Relationship building is a requirement in real estate.

To address the second point, you need to understand that networking forms a synergy. As much as you benefit, you also have to contribute to your networking circle. In the end, everyone gains something from networking. With that being said, let’s get into the benefits of networking.

Benefits of Networking

01   More Insight into Real Estate

Whether you’re a newbie, transitioning from residential to commercial real estate, or a seasoned professional, there’s always something new to learn.

Real estate is constantly evolving. When networking with other real estate professionals, you have access to knowledge from those with specialties in different parts of real estate, plus so much more.  

Your peers can provide a new perspective and inspire creative ideas along your real estate journey. Whether you take it all or pass on some ideas is entirely up to you. You’re also passing your own knowledge along as well. Regardless, more knowledge being shared means more ways to expand your business and career.

02   Guidance When You Most Need It

You will experience hurdles and hardships in the real estate industry, with more emphasis on social media marketing or ever-changing mortgage rules. These factors all impact your ability to reel in clients.

When you network with other real estate professionals, you’re also building a network of acquainted professionals to support you through these challenges. They can offer advice and strategies on how to make the most of the situation.

03   More Opportunities Your Way

As time goes on and you find yourself building more working relationships through networking, more working opportunities will inevitably unravel. A lender or an attorney might pass you over to an eager client looking for your services. Another mentor could be a reference for you at your dream real estate firm.

People like referrals because they’re taking them from someone they trust. That’s why 85% of all jobs are filled through networking.

04   More Self Confidence

Let’s put aside professional growth for one second to look at personal growth. Creating a strong network of peers that positively impacts your career and allows you to help others is a noteworthy accomplishment. Not everyone can achieve it.

The ability to fearlessly put yourself out there and socialize with other people enhances your confidence over time. Confidence is the key to a successful career in real estate.

05   Lasting Working and Personal Relationships

When you give back to your network of peers who helped you, you’re forming a strong bond. More than that, you could potentially be gaining a long-time friend. It can be tough and competitive in the real estate industry as more people join the profession.

But through networking, you can build a network of real estate peers who support and assist each other and overcome these challenges together. As long as you are friendly, professional, and show compassion to others, these relationships will be a strong force in your real estate career.

Final Thought

Networking as a real estate professional has become more relevant these days with increased competition. But keep this in mind - networking is not something purely for your own selfish gain. It involves building genuine and positive working relationships where you equally contribute. When you’ve mastered the art of networking, the opportunities and relationships you form will guide you in the right direction within your real estate career.


15 Networking Ideas for Real Estate Agents
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15 Networking Ideas for Real Estate Agents

Networking is about widening your circle of acquainted professionals, sharing and receiving knowledge as well as referrals.

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