What are the top 5 benefits of belonging to a Realtor networking group? Jeff Morr explains in our latest Perspectives from the MBF.
Collaboration goes to the very heart of our real estate industry. Want to be a Realtor? You have to join the National Association of Realtors. Want to sell that fabulous house? Good idea to let other agents know about it! Want to find the perfect condo for your buyers? It helps to have colleagues who can tip you off about hot new listings.
How do you build your network of contacts? The first and most important step starts with you: earn a great reputation as someone with whom other agents can work. Be professional. Arrive to appointments on time. Return phone calls and emails promptly and clearly. Get to know the agents in your own office and neighborhood, And, of course, behave ethically.
But this will only get you so far. If you really want to find and expand your network of fellow Realtors, my best advice is to join – and actively belong to – an excellent networking group of real estate professionals. The benefits of doing so are truly limitless, but here are my top five:
1. Trust: Every relationship is built on a foundation of mutual trust, and Realtor-to-Realtor interactions are no exception. When you know and trust a fellow agent, you are more likely to share information about homes that are soon to go on the market, or details which will put together a better deal. The “mutual trust factor” increases considerably when you work with Realtors in your local network, and you get to know more of them.
2. Network Expansion: It sure is tempting to stay in your comfort zone, so why bother branching out to meet agents in other neighborhoods and markets? While the rewards may be nebulous and indirect, there is a long-term incentive to going off the beaten path, especially in a market like South Florida, where there is so much diversity among buyers. For example, my network has chapters in Palm Beach, Broward and Miami, where I live and work. When my fellow members in those northern chapters need help finding the right Miami property for their buyers, they know they can call me – and vice versa. It doesn’t happen every day, but often enough to compensate the time and effort.
3. Prestige: Membership in some agent networks (like the one I chair) are by invitation only; they also demand consistently strong performance, and require highly ethical behavior. Simply by belonging, you demonstrate expertise, professionalism and success. This distinguishes you from less experienced or capable competitors.
4. Education: The Mayor of Miami-Dade County; the director of the rapidly-expanding PortMiami; internationally-recognized architects; the region’s top market analysts; social media and technology experts – these are just some of the prominent and respected guest speakers I’ve had the pleasure of learning from and meeting personally through my Realtor groups. (You better believe the information I’ve taken from these speakers has been extremely useful in my career, as both an agent and a broker/owner.) In many cases, you can even earn continuing education credits from participating in these events.
5. Career Advancement: Associates rarely stay with the same office their entire careers. Brokers are always on the lookout for agents in need of a fresh start. A Realtor networking group is an excellent venue for all parties when it comes to career advancement and office migration. The key for everyone – agents and brokers alike – is to handle this process professionally and delicately. If you are unhappy with your current firm, you can discreetly ask colleagues about the pros and cons of their offices. If you are recruiting agents to your firm, you can tactfully find out who might be interested.
Belonging to a fantastic real estate networking group has been a major highlight of my career. I have made meaningful friendships and relationships that have lasted decades, learned more than I could possibly imagine and had a blast at every gathering. I highly recommend this to any colleague who is serious about a long and successful career in real estate.
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The accuracy and authenticity of the information in this article has not been verified by the Master Brokers Forum or Miami Agent, is subject to change, is provided “as is” and is not guaranteed. The views expressed herein do not necessarily reflect those of the Master Brokers Forum or Miami Agent. The Master Brokers Forum and Miami Agent make no representations or warranties of any nature with regard to the information contained in this article.
The Master Brokers Forum is a network of South Florida’s elite real estate professionals. Membership is by invitation only and based on outstanding production, as well as ethical and professional behavior. For more information, visit www.MasterBrokersForum.com
Jeff Morr is the chairman of the Miami Master Brokers Forum, celebrating its 20th Anniversary in 2013. The Majestic Properties founder and CEO is a native of Israel, and has lived in South Florida since the age of six.
Morr brings more than 25 years of real estate and design experience to the field, with an education in advertising and marketing from Florida International University. He is largely credited with reinventing the way South Florida real estate is designed, branded and sold, introducing the “modern loft” concept in the late 1990’s and having a strong part in reshaping the Miami skyline.
Through Majestic Properties (spanning four offices, 200-plus sales agents, and a full service marketing arm, interior design firm, newly launched title company), Morr has sold more than 3,000 new condominiums valued at over $3 billion.
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