Why broker networking matters
NEW YORK – June 5, 2014 – Power brokers insist that networking is crucial to maintaining a profitable real estate firm.
"It's difficult for someone in that leadership role to share challenges or vet potential opportunities without exposure to non-competing peers with similar goals," says Leading Real Estate Companies of the World President and CEO Pam O'Connor. "Coming together to mentor one another, solve problems and share ideas is invaluable."
Industry networking events also allow brokers to actively shape current and future business models.
Networking is important at all stages of a broker's career. Initially, it enables him or her to keep up with industry news and legislation. Later, it's good for education and gives them an opportunity to educate others. It also allows them to gauge the direction of the industry and how to best serve it.
In addition, networking helps generate referral business. Attending and speaking at events allows participants to foster relationships and build trust.
But there are many networking events, and brokers must be selective when it comes to attendance, especially since some experts recommend attending cross-industry conferences in addition to their own network or brand conferences. It can be challenging for brokers to determine whether they should spend time outside the office networking or inside the office handling business.
Some brokers attend only what they consider the most important industry events and scatter their outside-the-office time throughout the year.
Source: RISMedia (06/03/14) Patterson, Maria
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