Why Professional Networking Is Critical At Every Stage Of Your Career

Those of us who’ve worked in our profession for a number of years tend to fall into the same patterns. Every day, we make the same breakfast, drink the same coffee, and take the same route to the office (on those days we don’t work from home).?

And once we settle into the workday, many of us rely on the same exact partnerships we’ve always used. And although our partners can be valuable, especially in real estate, we each have a responsibility to continue networking and finding new potential partners in our industry.

Failing to do so could actually cripple our productivity and even potentially cause us to lose business!?

The Importance Of Continued Networking

As a professional in the competitive real estate industry, I’ve always valued loyalty—to an extent. In some cases, I’ve seen blind loyalty ruin sales and obliterate professional relationships.?

For example, I was once in the room when a senior loan officer went on a tirade against a real estate agent. Apparently, the agent had insisted another loan officer should give their client a certain rate because they were close friends with the agent and an influential member of the community.?

But the client’s financials were in ruins, and working with them would have been a terrible sale that risked losing hundreds of thousands of dollars.?

The agent was persistent, and that persistence backed the loan officer into an uncomfortable corner.?

“Pull out your phone,” the senior loan officer said. “Now, block the agent’s number. Then completely delete them from your phone.” Then he looked around the room. “Nobody do business with them ever again.”?

Just like that, a relationship was gone because one person’s loyalty blinded them to the fact that they were trying to push through a terrible deal.?

These moments are why it’s so important to constantly network in an industry like real estate. When a single bad experience can ruin a professional relationship and referral partner, it’s critical to have a long list of potential sidekicks in your virtual Rolodex.?

Expanding Beyond Your Comfort Zone

Networking is invaluable even if you’re perfectly happy with your current referral relationships and industry partners. Case in point: Although you might use the same team (loan officer, title agent, etc.) on each transaction you run as a realtor, you might not be providing your clients with the best team on every sale.

Your client’s needs shift with every transaction. Some clients need more hand-holding because buying a home is scary. Some clients need more education because real estate is complex. Some clients need more attention because their financial situation is more complicated.?

Not every one of your partners is the best in every scenario. That makes it your responsibility to find the best vendor match on each sale.?

Bringing the right team to the table on each transaction is critical because your actions have a ripple effect that impacts the rest of the industry. For example, using a bad title agent simply because they’re your old friend could slow the entire transaction, causing frustration with the loan officers, the other realtor, and even the clients.?

In a worst-case scenario, the experience is so negative, the client ends up going with For Sale By Owner the next time around, and then the process becomes even more challenging because now you have more people in the mix who don’t understand the nuances of the real estate industry.?

Continued Networking, Continued Growth

Networking takes time, but the results are incredibly valuable.?

When I was teaching at the college level a few years ago, I quickly learned that everyone has a special skill set, and you won’t benefit from that skill set yourself unless you try to make a connection.

Even some of my direct competitors have become important assets in my own professional development. There are certain loan officers that I’ve connected with and have mutual respect for since we’re both above board and diligent in our work.?

We treat each other well because we’ve come to understand that we’ve both developed our own expertise, so we’ll occasionally hop on the phone to ask questions and learn from each other. Our companies may be competing against each other, but we’re ultimately able to perform better as individuals because we contribute to each other’s success.?

Bottom line: Networking is powerful. Even if you feel like you already have a solid network of partners, you owe it to yourself, your company, and your clients to continue meeting more professionals in your industry. When you have better connections, you can form better teams for each sale, resulting in a better overall experience. Best of all, more professionals on your side could mean even more referral business! It’s a win-win for everyone involved.?

You’re Invited to My Next Networking Event!

I’m once again holding another headshot happy hour! Talented photographer Dominique Murray will be on standby to provide free professional headshots for your website and social media profile! Plus, hors d'oeuvres and your first drink are on me!?

From the last headshot happy hour. From left to right: Photographer Dominique Murray, Stephen Baucom (me), and realtor Darian Law

Here are the most important details:

Date: Monday, September 13

Time: 6:00 PM - 9:00 PM

Location: The Forge (3345 Penn Ave, Pittsburgh, PA 15201)

My friend and colleague Al Caruso (an attorney and Title Agent) getting his headshot update.?

I hope to see you there! Of course, feel free to message me directly if you have any questions.?

Connect with me through my other channels as well! Follow me on Facebook or check out my website.?