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Michael Russ…, Real Estate Pro in 75006

Does networking mostly work for agents with huge brokerages or is there hope for independants?

Asked by Michael Russell, 75006 Wed Dec 1, 2010

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Whether you work for a big franchise office or are an independent working from the guest house on your estate - there are 3 primary reasons to network: 1) develop relationships that could lead to reciprocal lead sharing or co-listings based upon specializations, 2) meet a broker/owner you may some day want to work for or maybe go into business with, 3) meet beautiful, smart and professional women (there are a ton of hot babes working as agents in my markets - hubba hubba!). I don't consider "idea sharing" as a reason to network, as I don't share my "professional secrets" with agents in my area - no use giving the competition weapons they can use to take business away from you. The pie is only so big, we are all fighting for a piece of it - may the best man or babe win.
I believe that most offices try to keep the benefits of networking in-house, so independents probably do have a disadvantage there, but no more than the agent who works for another franchise. To break through the barrier, the independent has to offer a skill or specialization not found in the office. For example, if you're the only agent specializing in horse properties in downtown Chicago, franchise agents may wish to co-list with you rather than working alone or with someone in their office who has the same lack of experience as they have.
1 vote Thank Flag Link Thu Dec 2, 2010
Mike:

Networking is amazing, but like everything else it must be focused. I am a director for the BNI Mass team and I train folks in the art of Networking. If done properly it can be incredible profitible. Our society is so insular that we need a way to connect with others. I would say that is the last 12 months my partner and I have generated about $4,000,000 in sales from networking referrals. If you have more questions you can feel free to contact me directly. Best
2 votes Thank Flag Link Thu Dec 2, 2010
There is hope for anyone who networks....I'm making this a big focus for 2011.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference: http://www.feenick.com
1 vote Thank Flag Link Thu Dec 2, 2010
Mike,
I think networking is a must for the small independant.
The large brokerages can get by a lot with just name recognition, the independant has to get his name around to be successful.
God luck,
Murph Plishtin
1 vote Thank Flag Link Thu Dec 2, 2010
Michael, by independents do you mean agents that are in a small brokerage or on their own? I opened my own brokerage a year ago and so far have not hired any agents. Networking is a must for me. I have agents all over the country I receive and send referrals. Without networking I doubt my business would be successful.
1 vote Thank Flag Link Thu Dec 2, 2010
I am with a small boutique Brokerage. I love to go to networking events of all types. I go to real estate networking, chamber meetings, and other social events in my niche market. The more involved you are the more people will meet to get to know you and your firm! I love going and promoting myself and my broker! I have made some great connections with professionals in the real estate industry and gotten a client or two. Promoting yourself is the easiest job! I love networking for myself!
0 votes Thank Flag Link Wed May 2, 2012
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