6 Good Reasons to Network in Real Estate
Six good reasons to network in real estate is what is post will explore. In this article I am going to highlight six good reasons to network in real estate. One of my previous articles dwelt on what business networking means and how you can expand your real estate business using networking strategy.
I’m aware that quite a number of people hate the mention of networking. They don’t want to hear of any business that involves a pyramid scheme, unknown to them they are already slaves under a pyramid scheme.
The truth remains that no matter the form of advertisement you employ if your business lacks networking, be prepared to pack up. How many real estate agents who work in isolation have you seen become successful?
I know quite many around me, including the one through whom I got my house. They still remain local real estate agents who live from hand to mouth and can’t boast of even a plot of land in their name.
Here are six good reasons to network in real estate.
First reason to network in real estate is to build a team
Networking in real estate will help you build a team. A team is a group of people who work together to achieve a common goal. And why is team building important? The best way to achieve result in business is to work as a team and the fastest way to build a team is to network.
Second reason to network is to make a residual income
Residual Income: Being in a network helps you earn residual income. What is residual income? To help you understand what residual income is consider the following. Conga, Jiji, Naira land, Linda Ikeji, amazon all earn residual income. These companies have long worked and now get alert into their bank on a regular basis.
Whether they are asleep, in a meeting, partying or doing anything else, money if falling into their bank accounts. They have worked for it at some point in the past and now it’s time to enjoy. The money that comes in even when they don’t do any work is called residual income. In other words you work one time and earn from it for life.
Residual Income in real estate: You’ve bought a land and built a house. You’ve worked hard, isn’t it? This one time investment can feed you for life. For the rest of your life you get paid by your tenants.
Take for example, a hotel, a hostel, event center, People rent your hotel or hotel on daily, weekly of monthly basis and you get paid for a life time from a onetime project. That’s how you make residual income from your real estate investment.
Third reason to network is to create Employment
Networking creates employment.It’s no longer news that the rate of unemployment particularly in developing countries is on the high rate.
Networking has helped to bridge the gap. Take for example, pertinent Limited, a real estate company has engaged over 30,000 Nigerians, some of whom have become millionaires. Now make a list of networking companies you know.
There are hundreds of other real estate agencies. Then there are others outside real estate like Neolife. Long Rich, Telecom, Oriflame,to mention only a few. Neolife alone has empowered over 50,000 Nigerians.
In general, hundreds of thousands if not millions partner with these networking companies and make money. So if you are a job seeker, seek no more. You can partner with Pertinence Limited with zero capital.
Fourth reason to network is to Impact Lives
You are not rich until you make others rich. Networking gives you the opportunity to impact or touch lives. It puts you in a position to extend a helping hand to the unemployed people. Networking is a teamwork and the objective is to help one another.
You need their help to expand your business and rank higher, they need the business. You bring them in, they help you, you help them. As you grow in rank, they also grow behind you and everyone is happy.
Fifth reason to network is for growth and Sustainability
Networking ensures business sustainability. The more you build a team the bigger your business grows and the better the sustainability. Let me cite a few examples to illustrate the importance of networking in business sustainability.
Do you know that neolife is over 50 years old? And do you know that the founder may not be alive now and even if he is, if he dies today, the business lives on because he has built a team. Do you know that if Dangote of Nigeria dies today his business will not die with him because he has built a team?
Now let’s take an example of someone who did not build a team. MKO Abiola was a very wealthy Nigerian, but his business died with him. Today his name is hardly heard. He is only remembered for his past achievement. In other words, not only is he late his achievement is also buried. Why? Because his didn’t build a team to carry on his business name. This shows that networking is the way to business sustainability.
Sixth reason to network to saves cost
Networking remains the cheapest form of advertisement. You increase your customer base without necessarily spending much. If you were to publicize your business through the media, need I don’t need to tell you how much money you would spend?
First it will take you a long time to grow to the point that you can advertise through the media, that’s if you survive in the first place. But with networking the common man can start a business and reach a large audience within a short time and at a low cost.
Wider Coverage: You live in Nigeria and you earn income from companies like neolife, oriflamme, and the likes. Why are they able to reach foreigner? Networking is the answer. Pertinent group a real estate company has partners all over Nigeria and has extended to Ghana. Networking made it possible.
You want to build a team, earn residual income, create employment, achieve business growth and sustainability, save cost and achieve a wide coverage in your real estate business, then consider networking in real estate.