Melissa Menard Shares Her Best Advice for Realtor-to-Realtor Networking
Are you good at networking with other realtors? Is your contact list full of people who are ready and willing to work with you?
Anytime that you get a chance to network with other realtors, you could be creating more business for yourself!
When you take the time to network with other agents, you are building a trustworthy network. This helps when a potential client comes to you looking for a recommendation, but they aren’t in an area you serve. If you’ve been networking strategically and building relationships, chances are that not only do you have a recommendation, but you have someone that you already know, like, and trust, so you can help your client have the best home buying experience ever.
Melissa Menard, a guest on my #REalAdvice segment of The Jonathan Hawkins Show, shared her top tips on networking with other real estate agents, and how it can grow your business. You won’t want to miss her handy tips, and how you can apply them to your business!
Why Network With Other Real Estate Agents?
Melissa, based in the Santa Monica area, has been in the industry for 25 years. She even grew up in a real estate family, so she knows the industry quite well.
“[Networking with other agents] is one of the most underrated, and frankly, most cost-effective lead generation sources that exist,” she says.
When you work in an area, like where Melissa works, that has a lot of real estate agents (there are 13,000 in her area alone!), you need to know who is good at doing what!
It’s simple: that time spent getting to know other agents in the industry will change your business. That time investment will help you serve your clients better, and could even end up in bringing better, more qualified leads.
Networking with Other Agents Results in Better Leads
Have you ever gotten a referral before from another agent, where they just sent you a name and an email address? You can tell it’s a cold lead! They want you to do all the work, without warming it up - but they want their cut for sending you the lead.
When you network with other agents, you get to know valuable information that helps you be strategic with leads:
What kind of home buyers do they best serve?
What geographic area do they work in?
Do they have a speciality?
This work also helps qualify YOU as you network with others, so they send you better, more strategic leads - people who are primed and ready for your help! You won’t spend all of your time doing the work.
How to Network Effectively With Other Real Estate Agents
Do you have a stack of business cards from a networking event?
We probably all do! Those cards have no value, though, until you do the follow up with these people!
Melissa has a few powerful tips about how she follows up:
Have an agent-specific brochure, with testimonials about working with you.
Follow up within 2 weeks.
Ask personal questions, and get to know them!
When you get on a call with an agent, have a map handy so you can know exactly where they serve clients,
Keep in touch, and reach out every six months just to stay on their radar.
The follow-up process doesn’t have to be complicated. In fact, Melissa uses a template for all her follow up.
She keeps all the data in her CRM, including the locations that fellow realtors service, information about their specialities, and personal information, such as their family.
Now, when she follows up, she can ask meaningful questions, perhaps about real estate trends in their service area, or even family updates.
The relationship grows stronger because it brings value to both people.
The Power of Networking with other Real Estate Agents
Whenever Melissa travels, she has a special shirt that she wears. It says, “I like to party, and by party, I mean drink coffee and show houses.”
It’s fun and starts conversations! No one misses what she does: it’s clear that she is a real estate agent.
One of her favorite referral stories happened while she was travelling. As was her custom, Melissa was at a restaurant at the airport. She sat at the bar with her laptop open, and MLS on full display.
A moment later, the patron next to her leaned over.
“Excuse me, I couldn’t help but see what you’re doing … are you a real estate agent?”
Turns out, he was on his way to the Los Angeles area to clean up and sell his mother’s house. After a few minutes of talking, he asked Melissa: “will you sell my house for me?”
That area was outside of Melissa’s service area, but because of her follow up processes, she had the perfect recommendation.
“I don’t work in that area, but I have an amazing contact for you, and I can have her meet you at the house at 10am on Saturday to help you.”
Because of Melissa’s intentional connections, she was able to connect a qualified lead with a fellow agent that she knew would serve him effectively.
Melissa says that “every encounter is an opportunity. Don't squander it. You have an opportunity for referral business with every single conversation you have. Trust me it's there.”
She’s right: each and every encounter can lead to a referral, whether it be sending one of your clients to another agent, or another agent sending a qualified lead to you.
How have you been networking with other agents? Do you have a follow-up process for any of these agent-to-agent encounters? If so, tell me in the comments!
BONUS: You can examples of Melissa’s referral forms HERE.
Watch the Full Episode: