The TC Exchange Podcast Episode 3: Networking and Building Relationships

Hey everyone. Welcome back to the TC Exchange Podcast. I'm your host Amity Krause. Today, we're diving deep into a subject that is so essential in the real estate world and honestly, in any profession, networking and building relationships.

Networking Experience (1:14.3)

Now, I know this can be sometimes a topic that makes people cringe a little, right? I am fortunate that most of my networking experience has been with other agents and industry members. I always felt comfortable in a room talking to agents about their business and asking questions. But when it came to networking at other events with potential buyers and sellers as a real estate agent, though, I froze.

I was afraid to even tell people what I did. So I get it. It's hard, but it's so important. I think that what made the agent networking piece work for me was that I was confident in the value that I could add and knew that I could make a change in their business. But actually selling houses, that's another story.

I wasn't confident and I didn't think there was anything that set me apart.

Networking Myth (2:07.9)

So let's start by debunking a myth. This whole notion that networking is dead because of social media. It is easy to hide behind a screen, click a few buttons and think that you've networked. But the core of networking is still human connection, digital or not. It's still about building trust.

Now you're a transaction coordinator. You're working with agents, buyers, sellers, and a ton of other professionals. But guess what? So is every other TC out there. What sets you apart is not just your skill set, but the relationships you've cultivated. I want to talk about a framework. Let's call it the ABCs of networking.

ABCs of Networking (2:51.3)

Here are three things to keep in mind as you network.

A for authenticity. Authenticity is the currency of networking. People can spot a phony a mile away. So whether you're in a casual meet and greet or a professional seminar, be yourself. It's totally okay to be nervous, but really try to avoid standing in the background or talking to just people you know.

One strategy to start out is to give yourself a goal to talk to five new people and learn about them and their businesses. Then after you've met that goal and you still want to leave, go ahead and sneak out. But meet that goal first.

B is for boundaries. Knowing when to say no is just as important as saying yes to every opportunity. The last thing you want to do is say that you're comfortable with creative financing transactions, and you're not even sure what that means. Networking isn't about collecting business cards, but rather about making meaningful connections.

I also want to caution you about just strictly collecting business cards and adding them into your CRM. If you haven't gathered that information at the same time that you build the connection, did you really get permission to market to that person? You want to get opens on your marketing and clicks on your content, make a connection or you will quickly get unsubscribed.

C is for consistency. So on the other hand, you have created a real connection and received permission to add that person into your network. Do it. Send them your weekly content, invite them to other events, send birthday cards and anniversary cards, congratulations on a closing. Networking is not just a one time event, but it is a lifelong process. Always be consistent in your interactions and maintaining your relationships.

Effective Listening (4:56.3)

Now here's a golden nugget, effective listening. It's not just about hearing the words, but understanding the sentiment behind them. Let's say an agent talks about struggling with time management. You can chime in about a digital tool or even a process you've implemented that saved you hours in your week.

I was at a networking event not too long ago and was talking to an agent about document management. She was using a platform that was pretty clunky for document storage and had no system for how she organized her folders and files. I gave her some recommendations and described how I organized my file. She was so excited that later she messaged me and shared photos of her new system. This is definitely a relationship to cultivate.

Virtual Networking (5:42.5)

Since we're in the digital age, let's talk about virtual networking. It's about more than just ensuring your webcam works or your background looks professional. It's about how you present yourself.

How do you engage with someone when you're not physically there? How do you convey sincerity through a screen? Here's a tip. Now, when we're talking on a call like Zoom or Google Meet, if you keep your view side by side, your eyes sort of go off to the side while you're looking at the person you're talking to.

I like to put the screen on speaker view so that whoever is speaking is in the center of my screen. That way I have a better chance of making actual eye contact. I also like to take the view of myself off if possible so that I focus on what I'm doing and don't stare at my hair or my outfit. Remember people love to talk about themselves.

So while you want to participate in the conversation, you definitely don't want to dominate the conversation. I also want to share this experience with you. I used to be in a group coaching program with four other transaction coordinators. We met twice a month with our coach and shared our business struggles and wins and got to know each other's businesses. We also enjoyed our time together so much that we scheduled a monthly happy hour and we would get together, just the five of us, to talk about our personal stories and became great friends. I'm still friends with these ladies today and I love when I see their posts on social media or a message come through just to say hi.

The business benefit of this was when there was a TC opportunity that was out of their area, but it was in mine, they were able to refer those agents to me and vice versa.

Now, don't underestimate the power of internal networking. You connect with your coworkers every day and they can be your biggest advocates. If you have a positive working relationship with your colleagues, it makes the work environment way more enjoyable and productive. I hang my license with a large virtual brokerage, so communication can sometimes be challenging. One of the best things I ever did was schedule a one on one Zoom call with a compliance officer just to introduce who I was and what my process was like. This connection went a long way to make broker compliance much more smooth, and that connection will help me more readily since the relationship is established.

The Pitfalls (8:15.8)

Before we wrap up, here are a few pitfalls to avoid. Number one, over promising and under delivering. Don't promise things you can't deliver. It's a surefire way to lose credibility. And number two, not following up. If you say you'll get in touch, do it. Period.

All right. Let's cap it off there. Networking is an art and a science. It's about understanding people, establishing trust and nurturing relationships over time. It's not a quick fix. It's a long game and it's a game worth playing.