AIA (& National REIA) Believes the Core Value of Local REIA’s are Education, Benefits, Legislative Support and Networking
Even in this age of online resources there is a serious limit to the ability to truly network online. The most important benefit of your local group is the ability to sit across from someone and talk openly about your investing strategies, your needs, their resources and more.
Keep the following tips in mind in order to maximize the networking time that you have at your local REIA:
• In the beginning, talk to as many people as possible
You don’t know what others in the group do and what they may be able to help with, if you don’t ask.
• Say your name and get the other person’s name
Trade business cards too so that you’ll have a tangible reminder of the person you just met.
• Tell them what type of business you do and your specific real estate focus
Be specific. It is tempting to rattle off a long list of what you COULD do if this is a really good contact.
That is actually NOT a good idea. People won’t remember you if you leave a “jack of all trades”
impression. They will recall you when the time is right if you can offer a specific solution.
• Talk about the area in which you are most knowledgeable
Even within a real estate focus there are specific strategies in which you can show expertise. Let your
networking partner know how you can help them, as well.
• Let them know what your current need is
This is the most important. Sometimes we have no problem having a casual conversation and introducing
ourselves, but get suddenly uncomfortable when we try to bring up our specific need. Don’t be shy! The
only way to know if they can help is to ask. Do you need a property in a certain area of town? Maybe
they know of one, or better yet, they have one. Need a contractor that specializes in moving walls? They
may have used one last month. Need financing? Maybe they just sold a property and have money to
lend. You never know unless you ask.
Networking can be like giving a mini commercial about yourself. You will want the other person to do the same. If someone gives you a business card you want to put the place where you met them, what area they are in, what they focus on, and what their need is. If you get a business card immediately after the conversation, makes notes so that you remember the what you said and the areas where you can help each other.
Most REIA’s monthly meetings encourage this type of networking before the meeting. Take advantage of this invaluable benefit of your membership. It can mean a huge boost in your success.
Coach Jack Eyer CSCS