A Guide to Effective Networking

Networking is a process of getting to know people and making room for useful professional relationships. A first conversation may lead to a referral, an alliance, advice or simple goodwill; none of those outcomes should be assumed. The practical work is to choose relevant rooms, listen carefully and follow up with care.

Use this guide as a working outline for a real-estate professional. Adapt the questions and examples to the event, the relationship and the other person’s preferences.

Effective Networking Strategies

Networking is more than face time

Showing up is only the beginning. Spend time learning what another person does, whom they serve and what they are trying to solve. Let the conversation become specific before deciding whether there is a useful next step.

Where you network matters

Choose settings that match the people and professional relationships you want to understand. Consider one setting for prospective clients, one for colleagues and another for non-competing professionals who serve the same audience.

Not every person you meet is a prospect

A person may be a colleague, referral partner, source of local knowledge or simply someone with a perspective worth hearing. Keep the relationship useful on its own terms instead of forcing every introduction into a sales conversation.

It is your responsibility to mingle and connect

Approach someone who is standing alone, introduce yourself and ask an open question. Everyone can choose how much they want to share. A short, respectful exchange is enough when the setting or the other person’s response calls for it.

People get bored or turned off easily

Prepare a clear, positive explanation of what you do and whom you help. Keep it brief, then return the conversation to the other person. Avoid making the listener work through a long or complicated answer.

Effective Networking Tactics

• Attend meetings or events where your ideal clients gather. Choose a setting where the people you hope to serve are already having relevant conversations.
• Attend meetings or events where your colleagues gather. Trade and professional associations can provide community, education and potential referral relationships.
• Share a ride but not the whole evening with your friends. Arrive with support if useful, then make room to meet people beyond your existing circle.
• Set goals for the event. Pick a modest, observable goal such as introducing yourself to a few people and learning one thing about each person’s work.
• Wear a name tag on your right shoulder. Place it where it can be read naturally during an introduction or handshake.

Be prepared to introduce yourself well

Prepare your name, professional title or company and a short “Sound Bite” that explains the value you bring to a particular market. In a casual encounter, begin with a greeting and ask what the other person does.

Have an answer to the “what do you do?” question

Use the Sound Bite when someone asks about your work. Make it concrete enough to invite a follow-up question and short enough to say without turning the introduction into a presentation.

Be prepared with a follow-up to your “Sound Bite”

If someone asks you to say more, offer one additional detail about the people you serve or the problem you help them think through. Then pause and give them room to respond.

Take advantage of visibility opportunities

If a group offers a member spotlight or a place for useful materials, choose an opportunity that fits the audience and gives people a clear way to continue the conversation.

Follow up with everyone you meet

Send a personal note that names the event or topic you discussed. If continued contact would be welcome, suggest one specific next step and respect a decline or a quiet response.

Do not assume a relationship has no value

A person who is not a current client may know a useful colleague, understand a neighborhood or become a trusted professional connection later. Keep the relationship human and do not ask for a referral before trust exists.

End each conversation with the Magic Question

Ask: “If you had a friend or family member who was interested in doing something with real estate, do you have someone you’d refer them to?” If they do not, you can ask, “May I have the honor of earning your trust?” Accept the answer without pressure.

For further reading, see Never Eat Alone and the Private Client Group overview.

Request a complimentary one-hour conversation with a senior advisor who is an experienced operator. Talk through your next move.