By Mike Baird
Whether you’re a newbie or a seasoned real estate entrepreneur, industry networking events can be hugely beneficial to you and your business. From wholesaling and flipping houses to owning rental properties or being an investing partner or private lender, you need to know people in the field if you want to make a career in real estate investing. That’s why real estate networking events and meet-ups are so great; where else can you hang out with dozens (or even hundreds, depending on the event) of real estate professionals who can help you build and grow your business?
Unfortunately, many investors ruin their chances at making meaningful connections and really networking with important people in their field. By making these incredibly common mistakes, they really undermine themselves and lose out on a lot of potentially beneficial relationships. So let’s look at what you shouldn’t do if you want to make the most of the real estate networking events in your area.
Not Showing Up or Showing Up Inconsistently
Obviously, the biggest mistake you can make is to blow these events off entirely, but you can also mess yourself up by showing up inconsistently. Many investors only attend real estate club meetings and other events when their funnels are low and/or their wholesalers don’t have any deals. In other words, they only go when they need something from someone.
First, if you show up inconsistently, you won’t look like you’re taking your business or these meetings and events seriously. Second, you won’t get a chance to build recognition and relationships with other attendees over time. Third, your desperation for leads and/or certain contacts is always going to show. So make time in your schedule and get long-term benefits from attending these meetings over the next months and years.
Talking Only to People You Already Know
Next, the whole point of these events is to broaden your network. Staying grouped with people you already know and are already connected with may feel comfortable, but it’s hardly productive. The more you get outside of your comfort zone and talk to new people at these events, the more connections you’ll make and the more benefits you’ll get from attending.
Failing to Follow Up
This is actually just as bad as – if not worse than – not talking to anyone new at all. If you have a conversation with someone in your field and you promise to follow up with them later with an email, text, or call – by all means, do it! Failing to follow up when you promise to is like saying, “Hi, I’m flaky, and I don’t fulfill my promises. Want to do business with me?” No one wants to do business with a flake who won’t even take the time to write a quick email or send a two-sentence text.
Talking About Yourself Too Much
Finally, don’t just go on and on about yourself and your business. Ask questions and listen to what the people you’re talking to have to say. You’ll learn more about how they can help you (and how you can help them), and you’ll avoid looking self-absorbed and unprofessional. You don’t have to keep your mouth closed the whole time, and you should definitely answer questions that other people ask you, but this is about getting to know people in real estate and building relationships with them, not holding a captive audience.
If you want to be a successful real estate entrepreneur, flipping houses with the best of them, you need to make these events work for you. They could be your key to real estate investing success if you avoid these common mistakes.