Joining a networking group will help build your real estate investment business. Not only will you construct a firm foundation, but you’ll also connect with people who help each other succeed. That’s their job, and yours too as a member.
What is Networking?
Networking refers to mixing and mingling with others for the purpose of referring business. They do this by getting to know each other well and referring business. Business networking is just as it sounds: networking among other businesspeople. There are several opportunities to do so. Some are industry specific and others incorporate multiple industries.
For instance, an industry specific networking opportunity for real estate investment businesses is a real estate investors group. Investors come together to gather knowledge and also to seek opportunities for working deals together. Investors on the money side join contractors and those who buy and sell contracts. Success in this business is often who you know. Get to know people.
Category-Protected Networking Groups
A category-protected networking group offers real opportunities for success. Category protected means that the group allows only one member per business category. There is one contractor, one trust attorney and one realtor. Since real estate investment is a separate segment of the industry, many groups will allow both.
If you happen to have a real estate license, you might occupy the whole real estate category yourself.
Some of the most popular categories for membership are housekeeping, attorneys, and real estate professionals. What that means is it might be hard for you to find an open category. No problem—start your own group.
Invite business professionals you trust and would be comfortable referring business to. The group may or may not be small to start with, but if all members work together to fill open categories, the group will grow.