Building Your Internal Network

As I head out to teach a class in Oregon today and then Washington DC next week for the Women’s Council of Realtors meetings it seems like the perfect time to focus on building your internal network.

Your internal network is the one within your own industry.

Whenever I bring this up it seems to get mixed reactions. Some people get it and love it. Others look at me a little funny and ask why they would want to spend time with other agents when they are the competition.

The reality is that there is enough business out there for everyone and we benefit as individuals and as an industry by working together to share ideas and support each other.

Here are 5 ways that having a strong internal network will save you time, help you make more money and make things a lot more fun:

1.  You get the inside scoop: Just this week I was talking with another agent about what my clients are looking to purchase. Turns out she has the perfect home coming on the market in 2 weeks. We were able to get a jump start because I took the time to connect with her.

2. It helps in contract negotiations: When you know the other agent you are working with don’t things just seem to go smoother? And in a low inventory, multiple offer world, having that connection to the listing agent can be the thing that helps your offer make it to the top of the stack.

3. No one gets you like your peeps: Being a real estate agent is a wild ride with the ups and downs of the market and the various clients that we work with. Having people who “get it” is essential.

4. You can share ideas and learn. No need to reinvent the wheel. Why make yourself crazy starting everything from scratch. It’s much faster, more fun and profitable to work together and build on each others ideas.

5. You never know where your next referral will come from. Granted this one took me a bit to grasp, but other agents really are a fantastic source of referrals. Whether it’s a move from out of state or even within your same area, maybe you specialize in something that the other agent doesn’t. Taking time to build relationships with other agents can be a fantastic source of business.

So how do you fit it in to your already time strapped world?

1. Attend classes and participate, don’t just sit in the corner minding your own business. Sit by someone you don’t know and strike up a conversation. Exchange cards and get connected on social media.

2. Make time for lunch or coffee at least once a month with an agent to get to know them better.

3. Join a group: Getting involved with groups like the Women’s Council of Realtors and the eWomen network has been fantastic. It’s connected me with groups of amazing people and has helped my business in so many ways.

Being a lone ranger isn’t any fun. Stop making things harder than they need to be and take the time to build your internal network. After all, who doesn’t want to make more money and have more fun along the way?