Real estate is an intensely local business, as that’s where your product is located. How can you improve your local business networking for real estate is the question asked by many real estate professionals. Of course, you can join more local groups, attend more meetings, meet more people, and shake more hands. Additionally, you can take your strategy to another level and use Amarki to automate your LinkedIn marketing campaigns!
1) Local Leveraged
While your product and business may be local, your buyers can come from anywhere. Some agents pay big chunks of their commissions for referrals, but there are other ways to widen your sphere of influence. A buyer referral doesn’t have to come from a real estate website or another agent wanting a referral.
2) Think Globally
Well, at least think nation-wide. You could get a referral from virtually any professional in the country, especially if you’re willing to work with real estate investors. Do not limit yourself by dismissing where a referral may originate. If you had to pay for ads around the country, this would be unthinkable, but LinkedIn can be used free to build professional relationships around the country. Whether it’s an accountant who works with an investor in another state who wants to expand their business or a moving company that gets a request for storage of household belongings for a move, there are sources for referrals you’re not using.
3) Joining Still Works
Joining, just like you do locally, still works on LinkedIn to build relationships. Even if you don’t mind paying for a referral, there’s a LinkedIn Group for you. There are more than 100,000 members in one real estate referral group, and they would be more likely to refer business to others in the group than using other referral resources.
4) Join Professional Groups
There are professional groups on LinkedIn that are related to real estate or services to real estate buyers, sellers, and investors. Start right away to join the best groups that you think may be good resources for leads or referrals in the future. You can adjust your LinkedIn settings to notify you of new posts to a group. You can follow discussions and become a contributing member of the groups to build reputation and expertise.
5) Be the Expert
Some of your marketing is focused on presenting yourself as the local real estate expert. However, the same things that you are expert at locally also apply in just about every market. Your goal in working with the groups on LinkedIn should be to position yourself as a reliable expert in real estate, from transactions to risk and other factors that impact real estate transactions. Much of this is market independent.
6) Answer Questions – Start Discussions
In these groups, there are lively discussions of shared interests, as well as questions for help or answers for their business. You want to monitor the groups for questions that you can answer. You’re building your online reputation with thousands of professionals around the country that are in businesses related to real estate. You can also start your own discussions or just post informative information about your local market or topics of interest to the group.
Is all of this effort worth it? Look at it this way; you’re not spending any money, just time. It is likely that you’ll spend less than an hour each week, if that, in these activities. However, you’re reaching thousands of people who could be sources for business. Particularly if you work with investors, write posts about investment activity and opportunities in your area. This way you’ll get queries from investor group members who want to expand their reach.
If you only get one deal in an entire year from this, figure up less than 50 hours of your time, and you’ll see a really nice hourly rate.