As a real estate investor, you’ve likely heard the saying: “Your net worth is your network.” In the world of real estate, relationships can make or break your success. Whether you’re connecting with contractors, investors, or buyers, building a solid network is crucial. But how do you actually do it? Let’s break down actionable strategies you can use to expand your network and grow your real estate business.
Why Is Networking Important in Real Estate?
Real estate is a relationship-driven business. From securing financing to finding deals, you need strong relationships with a variety of professionals—contractors, bankers, insurance agents, buyers, sellers, and even other investors. These relationships often stem from networking, and for the most part, they need to be intentionally built. Yes, sometimes we’re lucky enough to have pre-existing family or friend connections, but in most cases, expanding your circle is a must.
Can Introverts Network Successfully?
One of the common misconceptions about networking is that it’s only for extroverts. I can relate—I was a natural introvert. Growing up, I would often spend time alone, recording music or watching TV by myself. This didn’t lend itself to social situations, but over time, I learned that even introverts can be great at networking.
My career began in teaching, where I could maintain my introverted tendencies by keeping a quiet classroom. However, when I decided to become a principal, I realized I needed to be more extroverted, as I had to interact with various groups of people daily. This taught me a valuable lesson: introverts can adapt and learn how to network effectively.
How to Reconnect with Your Existing Network
The easiest place to start networking is with the contacts you already have. Look at your phone or email list—how many people have you spoken to in the past six months? Reaching out can be as simple as sending a text or an email, saying hello and reminding them of a shared memory or experience. This small gesture can go a long way in keeping your relationships alive.
When reconnecting, don’t forget to subtly mention your role in real estate. Whether you’re an investor, flipper, or wholesaler, make sure your contacts know what you do. Your email signature, for instance, should clearly indicate your business so that it stays fresh in their minds. Building these relationships can naturally lead to business opportunities down the line.
How Do You Repair Damaged Relationships?
We’ve all had moments in the past where we’ve damaged relationships—maybe you said something you regret, or the connection fizzled out due to pride or miscommunication. Whatever the reason, it’s important to repair those relationships. You never know when a previously damaged relationship could become a valuable business connection.
For example, someone you lost touch with could be the person who introduces you to a new private lender or a lucrative real estate deal. So, take the time to rebuild these bridges.
Where Can You Expand Your Network?
Once you’ve reconnected with your current contacts, it’s time to meet new people. One of the best places to find like-minded individuals is at real estate events like meetups, conferences, or local networking groups. Many investors attend these events because they want to connect with others who share their interests.
Social media platforms like Facebook or Instagram can also be great for finding real estate groups where deals are discussed, and relationships are formed. Regularly attending these gatherings helps you stay in the loop and build your network further.
What’s the Best Way to Introduce Yourself?
Introductions are essential when networking, but they can feel awkward, especially if you’re an introvert. Practicing your introduction can ease some of that discomfort. For example, you could say something like:
“Hi, I’m John Crutchfield. I’m a real estate investor and educator. I love teaching people how to grow their businesses and improve their lives. I’d love to learn more about what you do.”
This short introduction is concise but still engaging, making it easier to start a conversation. Be sure to ask about the other person’s work as well—networking should always feel like a two-way street.
How Does Branding Impact Networking?
When it comes to networking, your personal brand plays a significant role. Think about the image you’re projecting. Do you look and act like someone others would want to work with? Your brand includes everything from how you communicate to the tools you use. For instance, if your phone is outdated or unreliable, it might send the wrong message. As a professional, you want to ensure that your appearance and equipment match the level of professionalism you want to convey.
Why Should You Join a Mastermind Group?
Another way to boost your network is by joining a mastermind group. Surrounding yourself with people who are already doing what you want to do—or are further along—can offer invaluable insights. A mastermind group provides an environment where you can share ideas, discuss challenges, and receive feedback from peers who understand the real estate business. Yes, it may require an investment, but the growth opportunities are well worth it.
How to Step Outside Your Comfort Zone
Networking often requires stepping outside your comfort zone. If you’re not active on social media, you may need to create profiles. If you don’t usually talk to strangers, now is the time to start. Setting goals—like how many people you’ll introduce yourself to each week or how many meetups you’ll attend—can help you stay accountable.
It’s normal to feel nervous about things like cold calling or attending meetups, especially if you’re more introverted. But growth happens outside your comfort zone, and the rewards of expanding your network will be worth the initial discomfort.
Final Thoughts: Building a Network to Grow Your Business
Networking is one of the most powerful tools you can use to grow your real estate business. By reaching out to your existing contacts, expanding your circle through events, introducing yourself with confidence, and paying attention to your personal brand, you’ll be on your way to creating a network that can significantly increase your net worth.
At Grab the Map, we encourage you not just to look at opportunities—but to grab them. Expand your network, and you’ll see your business grow in ways you never imagined.