I have to be honest the first time someone told me about networking groups I was beyond skeptical.skeptical man I had heard of people being successful from them before, but it sounded more like a less expensive pyramid scheme than anything else. I thought that until I went to my first BNI meeting.

*As a brief disclaimer I know there are many other kinds of networking groups out there so I am using BNI as an example*

When I arrived at the group meeting at a local restaurant I was greeted like a long lost friend. What impressed me the most was that everyone went out of their way to make me feel welcome and went out of their way to introduce themselves and learn about me. Even after I had meet a few dozen people I still felt apprehensive and wasn't sure how this group was bringing in so many referrals.

Just before the meeting started I met a nice lady who was the chapter's loan officer. I began probing her with questions about how well she had done and how the group worked. What she said next blew me away. networking group

In 2006 she received 50 referrals that resulted in 22 closed transactions and over $45,000 in commissions.

She had been a part of this group for a few years, but told me it was by far the best thing she has ever done for her business and would recommend it to anyone. It was safe to say that she had completely erased my preconceived notions about the potential pitfalls of a networking group. I decided that day that I was going to do whatever it took to be join a networking group. I moved forward with starting my own chapter and haven't looked back since.

Here are a few suggestions for you to do in getting connected with a networking group:

Find a Local Chapter: Most major networking organizations will have a "Find a Chapter" feature on their website. Most big states have many chapters within each city that you can join. Keep in mind that most networking groups allow for only ONE person in the chapter per type of business. Typically most networking groups have the residential/commercial Realtors and Loan Officers taken quickly so be aware of that during your search.

Don't Give Up: Most people I know who decide to join a group often have to get on a waiting list to join a group because someone who already has their position. If you are passionate about joining a group I would recommend starting your own. Most groups including BNI will have regional managers within the organization who will help you start your own group. Don't be afraid to try new things!bni logo

Bring Your Best: Once you've found your networking group it is so important that you become an active participant within the group. Get out of your shell as soon as possible! Get to know each person within your group and find out what they do and how they do it. You'll find that when these people become friends it will be a lot easier for you to bring them referrals. As you bring referrals in you'll see others will do the same in return. It is completely contagious to see others succeeding and having them do the same for you!

Overall I am a passionate believer in networking groups. They are incredible marketing tools to grow your business and also help you develop new and powerful relationships. If you have not been part of a group before or are looking to join one I would really encourage you to do so today. Good luck to you all and go find yourself a chapter to join, or start one of your own!

 

14 Comments on Marketing Tip of the Day

MAY
22
2007
130,028 Points Outside Blog

So did you sign up and how long ago and do you have any referrals yet?

I know that was a lot of questions. But I went to a BNI meeting and everyone was getting referrals except the real estate agents. They were the ones feeding everyone else.

8:54pm • #1
355,590 Points 22 Featured Posts Localism Sponsor Outside Blog
That's huge....50 referrals, 22 closed transactions....that would amount to over $100,000 of commission here in Illinois...Great words....I love em!
8:55pm • #2
Good idea, I need to find a group in Dallas, Texas.  Have you found a group yet?  How is it going?
8:56pm • #3
226,099 Points 41 Featured Posts Outside Blog
Jacob, thank for posting this.  I had never heard of BNI.  I'm going to look into them!
9:04pm • #4
4 Featured Posts

Jacob,

BNI is awesome. 30% of my business comes from BNI. I love their motto "Givers Gain". I had been to so many networking events and groups, when I found BNI I didn't even know what I had found until three months later when the referrals started piling in! I have been a part of a BNI group for 2.5 years and man I love it.

Good luck. You'll do awesome!

Shailesh

11:09pm • #5
MAY
23
2007
Outside Blog

Jacob,
     I'm looking forward to our first meeting next week.  You picked an excellent spot for us to meet as well.  Thanks again for inviting me to join and I'll see you Thursday.

Brian

11:14am • #6
So have you signed up and how has it been working since you did? Thanks
4:43pm • #7
MAY
24
2007

My boss swears by referral groups. We have opened some and are working on more! It is great to have 40 other people out there marketing for you.

Amanda

11:53am • #8
117,379 Points 8 Featured Posts Outside Blog
Referral groups are a great source of business, worked properly it will make you a success.
9:03pm • #9
I couldn't agree more. Being a loan officer it is hard to find a position. I've been looking but they always have one. My fiancee (who's an Agent) are planning to start our own group.
11:29pm • #10
MAY
25
2007
G'day team,

One great way to create business, and I know many will roll their eyes and ask "where does he come from", is to institute "properly run" auctions. Get your all important days on market down from 90+ to under 45.

Do that and you are starting to get way, way above the $47,700 the average realtor earns (NAR figures) in the USA!

Carpe diem

Tony
1:13am • #11
264,988 Points 59 Featured Posts Outside Blog
Thanks for the info & the sites Jacob, good looking out!  Have a great holiday weekend!
5:46pm • #12
2 Featured Posts

Hello Jacob Morales.  Great post and plug for BNI.  I had not heard of BNI until last October.  Then I was invited to a chapter meeting for a L.O. in Des Moines, with whom I'd done some business.  She had started a group, with a couple of other gals, a couple of years earlier and they had just lost their residential REALTOR, were having a visitors day, so she broadcast a message hoping to snag a live one to bring to a meeting. 

The Visitor's day attracted four residential REALTORS, so their was some competition for the slot.  I debated about whether to join that Chapter, because it was such a drive to their location - about 25 minutes one way.  By the time I made my decision to pull the trigger, someone else had beaten me to it!   Well, that actually was a great opportunity because I made a decision that BNI was a great method, but I had just not climbed into the right vehicle.  I decided that I would start my own chapter! 

So, in January, I started trying to recruit some new members.  First there was one, then a couple more, and by April 18th, we had 7.  That was the day of our "Kick-off" meeting, and from that, we added six new members in one fell swoop.  A month later, we're now at 15 members!   

As founder, I get to make sure no other Residential-Realtor takes my spot by simply never quitting the group!   It's an awesome concept.  So far, however, I have not had any bona fide leads, but I'm not worried.  The "Giver's Gain" philosophy is definitely valid and as time goes on, I know what goes around comes around and the referrals will take care of themselves. 

For other professionals who are looking to build their WOM business, BNI rocks!    Check out my blog where I talk about our "Business Masters" BNI group in Des Moines, Iowa.   

11:02pm • #13
MAY
27
2007

I have never heard of BNI before. I guess I need to check it out.

Thank you.

Dave

12:00am • #14

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Jacob Morales - Arizona Mortgage Planner

Scottsdale, AZ

More about me…

US Bank

Office Phone: (480) 538-5685

Cell Phone: (602) 501-7383

Email Me

Professional Mortgage Advice. Inspirational writing for your soul. Your Arizona Mortgage Lender!


Links

Archives

RSS 2.0 Feed for this blog

Find AZ real estate agents and Scottsdale real estate on ActiveRain.