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Apr 10, 2024 PropStream

Beginner’s Guide for Building a Real Estate Agent Network in 2024

“It’s not what you know; it’s who you know.” 

Many of us have heard this philosophy in business, but it’s especially true in real estate, where agents regularly work with different clients and stakeholders. Consequently, growing your network is crucial to your success. It’s how you learn, generate leads, and ultimately make money. 

To increase your 2024 earnings, consider prioritizing networking. If you’re unsure where to start, here are eight tips to grow your network:

Table of Contents

Start With Your Built-In Network
Embrace Social Media
Collaborate With Other Agents and Industry Professionals
Attend Networking Events
Seek Mentorship Opportunities
Take a Real Estate Class

Take Your Business to the Next Level With PropStream

Key Takeaways:

  • Many agents have a built-in network they can lean on when starting out to spread the word about their services and potentially find leads.
  • Agents can use several digital and in-person strategies to build their networks, such as social media, networking events, classes, etc.
  • Agents can use PropStream to perform market research and gather valuable information that will help them stand out in the industry.

Start With Your Built-In Network

Nearly everyone has a built-in network. This can include your family, friends, neighbors, sports team, social media followers, etc.

Before worrying about making new connections, leverage the ones you already have. Tell them about your agent services and ask if they know anyone in the market looking to buy or sell a home. You may be surprised by the number of responses you get!

Embrace Social Media

Since all homebuyers now use the internet to shop for homes, it’s essential to be active online. Social media can be a great way to get your name out there and reach potential clients and business partners. 

According to The Close, Facebook is the best overall social media platform for agents because it’s the most popular; however, each platform has its best use cases. 

For example, Instagram caters to highly visual content, making it ideal for advertising an upcoming open house or a property you just helped sell. In contrast, LinkedIn targets professional users, making it a good choice for sharing your expertise with others in the industry, connecting with potential mentors, learning, etc.

Pro Tip: Whichever platform(s) you choose to start networking on, try to consistently respond to other users’ comments and posts. The more you engage, the more potential connections you can make.

Collaborate With Other Agents and Industry Professionals

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Home sales can involve many parties: agents, brokers, lawyers, home inspectors, appraisers, contractors, mortgage lenders, title companies, and others. As an agent, you would do well to build strong relationships with each of these types of professionals since you’ll work with them often. 

For example, instead of viewing other local agents only as competition, try to befriend and learn from them. You never know when they’ll be on the other end of a deal you’re working on or when they might get a lead they need to refer to another agent. Plus, they could teach you valuable lessons, such as why it’s better to be a listing agent than a buyer’s agent

Similarly, reach out to local real estate investors. They’re often involved in multiple real estate transactions per year. By befriending them, you could become their go-to agent.

Attend Local Networking Events

To connect with professionals working in the same city, consider attending local networking events. These could be conferences, trade shows, or even casual meetups you hear about online. 

For example, you could attend a local Real Estate Investors Association (REIA) gathering or other industry event. Some may even be held virtually, allowing you to easily work them into your schedule. If nothing else, you can host your own event. A simple party or dinner with other local real estate professionals is all it takes to expand your network and connect with potential clients.

Once at a networking event, make a conscious effort to get out of your comfort zone by introducing yourself to new people. Need help breaking the ice? Here are some conversation-starting ideas:

  • What piqued your interest in real estate?
  • Have you toured any unique or unusual properties lately?
  • Have you attended any other recent real estate seminars or workshops you’d recommend?
  • What is your opinion on the role of technology in real estate?
  • What has been your experience with the current real estate market?

Pro Tip: Stay friendly and approachable, and collect the contact information of those you meet so you can keep in touch afterward.

Seek Mentorship Opportunities 

Working as a real estate agent can be challenging—especially when you’re just starting. According to one estimate, 75% of agents fail after their first year. However, many quit because they didn’t have someone to guide them. 

Having a good mentor can be crucial for your long-term success. They can provide valuable advice based on their experience and help you expand your network by connecting you with other industry professionals. 

If you’re a new agent, look for someone to take you under their wing immediately. 

Take a Real Estate Class

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While you’re at it, why not enroll in a real estate class? These days, there are many online and in-person courses to help you polish the skills necessary for facilitating swift transactions, negotiating, communicating, etc. 

PropStream Academy offers many courses for agents on lead generation, direct marketing, finding motivated sellers, and more. Our library continually expands with new, self-paced courses to help agents excel in the industry.

Leverage Automation Tools

Networking isn’t just about meeting new people. It’s also about building and maintaining relationships with those you already know. 

One way to organize and keep track of all your professional contacts is to invest in a customer relationship management (CRM) tool. It can help you streamline communication, nurture leads, and ensure nobody falls through the cracks. It does this by automating routine tasks like sending invites and reminders to leads to help you track where they are in their home-buying or selling journey.

Offer Value to Your Network

Finally, adopt a value-first approach. This means focusing on what you can give rather than what you can get from a relationship. The more you help someone, the more likely they will return the favor. 

In contrast, agents who immediately pitch their services and ask others for their help are more likely to struggle to build genuine relationships that lead to opportunities.

Some ways to offer value to your network include:

  • Hosting events
  • Providing market insights
  • Giving referrals
  • Sharing resources and tools
  • Offering free consultations

Take Your Business to the Next Level With PropStream

Ultimately, real estate will always be a people business. The more extensive your network, the more opportunities can come your way.

Let PropStream help you make connections and impress your contacts! By utilizing PropStream’s in-depth datasets, convenient search filters, and marketing tools, you can:

  • Perform market research to pass on to your contacts
  • Create newsletters with updates on new developments in the region
  • Find other real estate professionals to potentially work with
  • Send out marketing materials with just a few clicks

And so much more!

Sign up today for a free 7-day trial to see why agents love using PropStream to build their networks and enjoy 50 complimentary leads!

Frequently Asked Questions (FAQs)

What’s the best way to follow up with a new contact after a networking event?

Promptly. Chances are your new contact met many other people at the event, too. 

If you wait too long to contact them, they might not remember you. When following up, express your pleasure in meeting them and try to reference something specific from your conversation. That personalizes your message and helps them remember you.

From there, you can offer to meet up again or get on a call sometime. Avoid immediately pitching your services. Focus on building a genuine relationship instead.

How should I use social media to build my real estate agent network?

Start by creating a professional profile on your social media platform of choice. Then, consider joining groups related to real estate and your local market.

Try to share valuable content such as market updates, home-buying tips, and client success stories. Don’t forget to engage with your audience by responding to comments and posts. Over time, you can establish yourself as an expert with whom others will want to connect. 

How do I handle rejection when networking?

Rejection is a natural part of networking, so don’t take it personally. Instead, maintain a positive attitude and remember that every “no” brings you one step closer to a “yes.” 

What are the most common mistakes agents make when networking?

Some of the most common mistakes agents make when networking include being overly aggressive and focused on sales, not listening to others, not following up promptly, and failing to adopt a value-first approach to relationships. 

How much time should I commit to networking as a real estate agent?

It depends on your personal goals, schedule, and career stage. However, as a rule of thumb, you should dedicate a few hours each week to networking. This can include attending events, following up with contacts, engaging on social media, and more. According to a Placester survey, 62% of agents said they devote at least an hour per day to marketing themselves and their listings. 


Published by PropStream April 10, 2024