In any new venture or even when you are established, one of the most important strategies for success is to build up a support network. This is especially important when your network doesn’t come ‘ready-made’ via your work group at your place of work. Property investing can be a lonely business and sometimes you can find that you don’t have any like-minded people to bounce ideas off or seek advice from. Fortunately, the industry is blessed with a plethora of property networking events up and down the country, so you are sure to find one within a reasonable distance from where you are based.
Following the Covid 19 pandemic, it is now common for many networking events to be online only. Some are continuing as such but many are now starting to return ‘to the room’. We will specifically cover online networking events later in this article, but many of the skills to get the most of these events are relevant to both face to face and online networking.
If you feel a little uncomfortable at the thought of walking into a property networking event full of total strangers for the first time, then you’re not alone. Most people are uncomfortable walking into a roomful of strangers. But property networking events can help you grow your business, as well as allow you to do hands-on marketing research. Learning to mingle and to follow-up with business networking contacts is crucial to your success. The following techniques will assist you in connecting effectively with others.
Prepare
Come prepared to the property networking event by bringing business cards, a pen and a small notebook. Make sure you eat before you go. If it’s a cocktail party, or finger foods are being served during the networking portion of the meeting, it’s better to carry only a drink, instead of trying to juggle a plate of food. Most property networking events follow a similar theme, with open networking for an hour or so at the start then the main speaker from the middle of the event and another hour at the then end for more networking. Most are in the evenings normally from 7pm through till late. Do your research though and if necessary contact the hosts beforehand to understand the format. Aside from this these events are rarely overly formal and the important thing is to be relaxed and enjoy yourself. However, before you go ask the event host about dress code. Some events are Business Formal and people will be wearing business suites. Some events are Business Casual and there will be a mix of more relaxed styles. By knowing in advance what to expect, you maximize the feeling of being part of the group. Most property events tend to be totally casual though.
Know What You Want
Another key point is to understand why you are there. If you are just starting out, you probably have a large number of questions or areas you are looking for information on so will gain will a huge amount from virtually every interaction and contact made. None the less it’s useful to have an ‘elevator speech’ ready; a quick 30 second summary of who you are, where you are based and where you are in your property journey and what you are looking to achieve. This will help people remember you and also not take up too much time before they get a chance to respond and get information across to you. This way you will be able to get round many more people at the event. An additional reason for having the speech ready that many events have a ‘speed networking’ section so you will find it useful to be able to get a lot of information across in a short amount of time. If you are further along in your property journey, it’s even more important to know your goals: What is your purpose for attending this particular event? To meet certain people? To find prospective customers? To find a resource you need? Meet a new friend? To find funding? Nurture existing relationships?
Business Cards
A bit about business cards. Having attended property networking events for many years, it’s quite surprising to us how many people come along without any cards. If you are getting some, remember these do not have to be property related or even fancy (yes, even the dreaded ‘cheap looking’ business cards from a certain continental supplier are OK). Even writing out a few blank cards ahead of the event is better than none at all. Most people will not be able to remember your contact details or even your name without the card to trigger their memory of the conversation. Bring twenty business cards and promise yourself you won’t leave until you’ve given out all the cards. Ask for other people’s cards if you sincerely want to keep in touch with them. Not everyone you meet will be a good resource but sometimes you won’t realise this until later down the line. So, don’t be afraid to give out and actively seek out other people’s cards. A word of advice though: if you already have a clear objective and something to sell: e.g. a property related service, then it is wise not to go in too strong, going on about your service and handing out cards randomly, trying to get a sale. Particularly if you are new to a particular event. It is better to work on building up rapport and finding out who is in the room. Many events will have a participant list which you will be able to access after the event to reach out to the attendees. Many events also have slots available for service providers or even sponsors. If in doubt, speak to the host and they will be able to assist.
Finally, as with other areas of networking, new technology has come into play following the Covid 19 pandemic. Virtual contactless business card apps for smart phones are becoming more popular. These avoid the need for carrying around and exchanging large swaths of business cards. Providers such as Mobilo, Swoppii, Pleo, HiHello and Icardapp are worth looking into.
Arrive on Time
There are many reasons for arriving ahead of the crowd. Firstly, it is polite not to be late and come shuffling in when the speaker has just started! Perhaps more importantly it gives you a chance to work out the lay of the land before it gets too busy. You should also be able to get a seat near the front. You may also be able to get to speak directly to the host of the property networking event although perhaps not for long as they will likely be setting up or circulating around the room as people arrive. Either way, it is good practice so do it if possible. You will be remembered for it too.
At the Event
So you have your business cards, your ticket, smart casual attire, you have arrived early and you are standing in the lobby of the hotel/conference centre. You are ready to go. Enter the room with a smile. Even if you feel nervous, “act as if” you are not. Remember, property investors are just people like you. If you have a smile on your face, you will be perceived as approachable, enthusiastic, and friendly. (And you’ll feel a whole lot better, too!) Make sure you mingle. Do not isolate yourself with only your friends or colleagues you know. Move around. Spend no more than 5-6 minutes talking with any one person.
Ask your host to introduce you to people that you want to meet, or to get you started in a group where you know no one. If they have a Greeting Committee or Ambassadors, find out who they are and ask for help with introductions. Reach out to people standing by themselves, introduce people to each other. (Note: if you find yourself at an event that does not have a Greeting Committee, offer to become a one-person Greeting Committee. It gives you the perfect excuse to introduce yourself to everyone who walks in the door!)
When you meet a person, shake hands, and repeat their name. This not only helps you remember it, but it shows that you’re making an effort to hear the name properly. Wear a nametag that is easy to read and is descriptive of you. Wear it on your right shoulder so that people can easily see it when they shake your hand. Use your elevator speech. Know how to describe yourself in one or two sentences.
Listen more than you talk. Remember that there is nothing more flattering than someone who listens carefully and shows sincere interest in other people. Ask questions and listen to the responses so that you begin to understand the person. This also helps you to identify who might be a potential useful contact for you. Take notes to help you remember what people have said. When you get back to the office, put all this information into your contact management software.
Divide and Conquer
It’s common for people to go to networking events in couples. Sometimes this is a safety in numbers approach (which is fine by the way) but more commonly simply because a couple are investing in property together. If you do go to an event with a partner (life partner, business partner or even friend) remember though that this can work against you. It will be your natural tenancy to talk with the person you came with, particularly if you are talking about something you have just heard that is relevant to your investing. Before you know it the evening will be over and you will have met a limited number of new people and contacts. So, to turn this on it’s head and make it work for you, make a conscious effort to split up during the networking portion of the event. This way you will be able to get round twice as many people than if you stayed together. Make sure you take enough business cards though!
Take Notes
Please do take notes, at least during the guest speaker part of the event (if there is one). There is a lot to get through during the event and you will cover a lot of ground, particularly when you take into account all the conversations with other participants, and after the event you will find it a relief that you had at least had some of it down on paper. Also, don’t be afraid to ask the host for a copy of the slides from any presentations.
Connect Afterwards
Once you have someone’s business card, make sure you follow up with them within 24 hours of the event. If there’s an obvious win-win connection with someone you’ve met at an event, call them up and invite them to lunch to explore the connection further. When you write the networking event into your calendar, also add one or two hours the following day into your calendar for follow-up so that you know you have time to complete the task.
Other Networking Opportunities
Most participants these days will also use social media as part of their property investing activities. Look your contacts up on Facebook, LinkedIn etc. after the event and connect with them. Don’t be offended though if not everyone connects, a good few people may only be using social media for personal contacts and friends. If in doubt, ask. It’s another good way of keeping in touch with participants between events.
Online Networking Events
As a consequence of the Covid 19 pandemic of the last couple of years, we have seen a relatively new phenomena of the ‘Online Networking Event’ coming to the fore. The purpose of these events was to enable people to stay connected, even when they were unable to get together in a room. Many established events ‘went online’ during this period. Although restrictions on face-to-face networking events and other gatherings have now in most cases been eased, many of these events are continuing online.
There are various technologies used to host these events (such as Zoom for instance). Most revolve around video conferencing, with separate breakout ‘rooms’ so smaller groups can interact and chat. Some platforms are audio only and follow a slightly different format (such as Clubhouse).
Where to Find an Event
Try using Google to find your local networking event or go on to Eventbrite, Meet Up or similar to see what’s going on in your area. Your Property Network Magazine (www.yourpropertynetwork.co.uk) also has a comprehensive list of all the property networking events up and down the county.
Start Your Own
If you have really got the bug of property networking or you can’t find an event near you then why not start one yourself? Each property networking event started out small at the beginning so don’t be afraid to give it a go, even if it is you and a few people round a table in a pup to start with (incidentally, a certain large networking event in Kent started in just this way several years ago).
Stay Covid safe
Although many events will stay online, the general trend for networking events appears to be to get ‘back in the room’. This is natural bearing in mind the gregarious nature of people and the fact that we have been couped up at home for many months over the last couple of years! There is however a natural nervousness about being in a crowded room again. There are several things that can be done to ease this and be safer. Most events will no longer mandate mask wearing but of course if you wish to then you may. You may also choose to avoid handshaking and most people will not be offended by this. Keep a reasonable distance from people if at all possible. Also, use hand sanitizer frequently – ask the host if this is provided or take your own. Finally, if you are feeling under the weather it is probably best to to stay away, or you may wish to take a lateral flow test before setting out to the meeting.
Conclusion.
When you look upon networking events and business functions as an opportunity to meet new people, do some market research, and find potential clients, it can become a joy instead of a chore. Going in with a game plan makes you feel like you can really make the most of the property networking event. If you have enjoyed this blog post you may also find our video on how to keeping a positive mindset interesting, watch here.
