Building and maintaining a professional network is crucial for your success as a real estate agent. You can leverage your network to:
Provide better service to your clients (which could lead to an increase in referrals)
Get quick answers to help you navigate a complex transaction
Get tips on new buyer and seller leads
You can start building your network of real estate professionals even before you get your real estate license. And you can continue to nurture your relationships and grow your network throughout your career.
Here are the 17 professionals you should look to network with as a real estate agent.
1. Mortgage Lenders
Having a mortgage lender on speed dial will help you get quick answers to complicated financing questions. It can also speed up the loan pre-approval process for your buyers so you can close deals faster. And helping your clients avoid predatory lenders will lead to higher satisfaction and more referrals. Plus, lenders may be able to refer potential homebuyers to you!
2. Home Inspectors
Home inspectors evaluate the condition of a property, typically to warn buyers of potential issues. In hot markets, inspectors can be booked up weeks in advance, and having a personal relationship with an inspector might help you snag a quick turnaround for your buyers.
3. Appraisers
Appraisers are licensed professionals who provide formal valuations of properties. Like inspectors, they can book up fast, and you might be able to get an earlier slot for your buyers if you are on friendly terms.
4. Attorneys
In addition to being a great resource when legal questions arise, attorneys can be a valuable lead source. Divorce attorneys, for example, could provide your information to a couple who needs to sell and buy separate properties.
5. Financial Planners
Financial planners may have clients looking to invest in real estate. So you want to be the first real estate agent that comes to mind when these professionals are exploring investment opportunities for their clients.
6. Property Managers
Your investor clients might need a property management pro to handle their rental units, and referring them to a great one will reflect well on you. And, since property managers have direct communication with hundreds of renters, you could use their help implementing your Renter-to-Homeowner Program.
7. REO Asset Managers
REO asset managers are bank employees who handle foreclosed properties (REO stands for “Real Estate Owned,” which is the accounting line item for these bank-owned assets). AMs are often tasked with selling these properties, so they could be a source of repeat business.
8. Builders and Contractors
Even if you decide not to represent builders in home sales, it’s still a good idea to have relationships with local builders. You may have a land buyer who’s ready to build. Or your builders might be willing to share leads that didn’t buy their models.
9. Other Skilled Residential Workers
Homeowners regularly need workers for home repairs and renovations. You might even create a “trusted vendor” list you can share with your new homebuyers to provide contact info for reputable workers, including:
Electricians
Plumbers
Painters
Landscapers
Pool cleaners
10. Interior Designers
Interior designers can help your buyers make their house a home. You might even build a relationship where you can offer your buyers a free consultation with a professional interior designer.
11. Home Stagers
Home stagers provide specialty interior design with the goal of helping a home sell. Home staging has been proven to sell homes faster and for high sales prices.
12. Building Permit Clerks
Many home renovation projects require building permits. And it can take a while for these permits to be approved. Being on good terms with a permit clerk could potentially expedite the process.
13. Property Tax Consultants
Property taxes are an ongoing concern for homeowners. And there is a whole property tax consulting industry available to help property owners avoid being over-taxed. Have a property tax consultant in your network so you can refer your homeowners to a professional who can help if their property tax bill seems too high.
14. Relocations Specialists
Relocation specialists help employees transition more smoothly when they move for work. Part of their job is to assist with housing. So they’re often asked to provide referrals to good real estate agents.
15. School Administrators
School administrators know a lot about the families in the community. They are also the first to know when new teachers are moving to the area. So they can be a good source of leads.
16. Local Business Owners
Knowing local business owners shows that you have your finger on the pulse of the community. And you could potentially trade referrals.
17. More Experienced Agents and Brokers
Make sure you include other agents and brokers in your network. You’ll be able to give each other a heads-up on new listings, and with so much to learn in real estate, having mentors is always valuable.
Quick Ways to Grow Your Professional Network
Ready to grow your professional network? Start here:
Attend networking events to meet other professionals.
Ask your existing network to introduce you to their colleagues.
Treat people to a coffee and get to know them better.
Shout out other professionals and local businesses on social media.
Consider joining the National Association of REALTORS® for more connections.
Once you trust someone in your network, start sending them referrals immediately. The more business you send them, the more likely they are to refer buyers and sellers to you. Your professional network turns into a virtuous cycle of reputable businesses helping each other to continue growing and providing top-quality service!