There are so many benefits to property networking.
Networking is crucial for trading information but also serves as an avenue to create long-term relationships with mutual benefits.
The importance of the saying “no man is an Island” has been proved to be the reason why many of us need to make a collective effort in a bid to achieve property success. For many individuals that have succeeded in real estate, the causes have largely been attributed to the strong networking channels they have created over time.
According to Elite Agent, “A problem shared is a problem halved. Networking is critical to your growth, as a real estate leader, giving you the opportunity to ‘compare notes’ with colleagues.”
Networking events help you to establish connections and friendships with other investors in your area and can greatly benefit your investment in the future. This blog post explains the benefits of property networking, and how you can become the most effective property networker to take advantage of these amazing benefits.
What is property networking?
What are the main ways that networking helps investors?
Investor networking has the following benefits:
Learn to communicate and interact: Networking events help new investors get rid of their hesitation to ask questions and communicate with real estate buyers and sellers to learn negotiation deals. Networking helps you by giving you the requisite confidence to ask questions.
Gain contacts and access to great deals: Networking expands your contact list and helps you find more deals. The real estate investing industry revolves around buying or selling deals. Networking events give you more exposure to these deals and people.
Networking means you’ll meet more people in the property investing space, who have access to deals that might interest you. Speaking with your contacts, you might find that they have discovered investment opportunities that aren’t right for them, but might be perfect for you. Every property investor’s goals, preferences and portfolios are different! If you keep your ear to the ground while property networking you might just find an exciting opportunity without having to do any of the legwork yourself.
Get help and find the money for your deals: Real estate investors work with other real estate investors. They help each other out. They partner on deals and sell deals to each other. Maybe someone in your network is looking for a partner, or to finance a joint venture, or they might know someone that is.
Get access to more knowledge and information: Real estate investing is a vast industry. Networking is a great source of education and information for real estate investors. At many networking events, guest speakers talk about their area of expertise within the investment business.
You could meet expert investors with a wealth of experience and a huge portfolio, or fellow investors who might have just overcome a similar property problem to the one you’re experiencing right now. Shared knowledge is one of the most powerful and invaluable resources you’ll gain from property networking.
Access all kinds of service providers in the industry: It’s not just property investors who attend property networking events. Service providers like hard money lenders and contractors also frequently attend – invaluable people to have in your contact network. Meeting these people gives you an edge over other investors and provides a perfect opportunity to connect, ask questions and acquire these important services.
Save on costs: You’re likely to meet some of the most successful people in the real estate investing industry at networking events. Most of them will be more than happy to give you industry advice. So, you get the information you’re looking for without paying a professional real estate mentor. Having a seasoned mentor on your contact list can be very beneficial for you because you can get in touch with them when a problem arises or when you’re not 100% sure what to do.
Networking is very important and compulsory if you want to be a successful real estate investor for a long period of time.
Meeting successful people and property gurus will add to your knowledge and understanding.
How can property networking be done effectively?
Successful investors know how to connect and communicate with people to help them get what they want. Networking is vital for investors to increase profitability and generate more leads.
Stay focused: Networking means staying focused during all communications. Avoid looking into the distance or checking your smartphone and watch. Listen carefully to what people say. Learn how to ask the right questions to get people talking about their real estate dreams. Welcome their comments and questions, then encourage them to visit you.
Take notes: During interactions, jot down notes about clients’ lifestyles, preferences and budgets. Create outlines about the types of properties that buyers want to see. Discuss goals with property sellers to determine what they want to achieve such as walking away with a profit, relocating or buying another home within the neighbourhood.
Be authentic: People want to communicate with someone approachable and authentic. Be both knowledge and fun to add a dash of personality to every conversation. Stand out from other agents by being accessible in-person and via all types of mediums including text and phone.
Be part of the community: Participating in events is an excellent way to be known in the investor community. Working with these communities builds recognition and trust.
Ultimately, you will achieve far more by working directly with other people than trying to do it on your own.
To become a very successful investor, you need your own team of professionals. This is where your network of contacts comes in.
Property networking events can help you form relationships with such people. Professionals who will essentially help you build your property portfolio. These will be professionals such as mortgage brokers, solicitors, and letting agents. Ideally, they should all be property investors themselves. This means they will have a better understanding of what you are trying to achieve.
At a property networking event, it isn’t just about the people you meet in the room. The people that they also know in their networks, could also help you. If you need a particular professional, ask people at the meeting who they know and use.
Touchstone Education make property networking easy and natural.
The Touchstone Education Networking (TEN) events take place in three prime locations:
- Doncaster if you’re looking for property networking events near Doncaster, our network of investors is based all over Yorkshire with portfolios in Sheffield, Rotherham, Hull, Leeds etc.
- London Our London-based Property Networking events are attended by investors from all over London and the South.
- Online Our online networking is ideal for anyone who does not have easy access to the above in-person events and wishes to property network from the comfort of their own home.
The monthly live networking events are hosted by Touchstone Education experts and specialists, and will have the country’s landlords, entrepreneurs, investors, Joint Venture prospects and property experts at your disposal.
The UK’s leading property investment course, Wealth Through Property, also features networking opportunities. Meet a range of property experts, trainers, mentors and students to help you on your property journey.
To find out more information, call us on 01302 897131 or email office@touchstoneeducation.co.uk.
