Why Power Networking Works in Real Estate

We’re in a digital age where anyone can throw something online and someone will buy it. It’s no different for houses. There are real estate portals like realestate.com.au where a property can be listed and sold.

But is that the best way to go about finding the perfect buyer for a home? At getting the right price for the property? Definitely not. Even in this digital age of disconnect, selling houses, at its heart, is a person-to-person business. And nothing is more important in the real estate industry than the power of a large personal and professional network. When used correctly, this is a real estate agent’s best friend. Their secret weapon.

Henry Wong knows exactly how important a network is in real estate. That’s why he’s been building his for years, and has developed a community of colleagues, associates and friends that know him and trust him and his team.

Henry’s well-connected network allows him to bring many buyers to the table as well as local buyers. These buyers include passive buyers from out of the area, who aren’t actively looking for a home but will seize a good real estate opportunity if it presents itself to them. This creates more bidders, more competition and better outcomes for a seller!

Connecting the Dots

Henry sees himself as a middleman, able to connect the dots between people’s needs and the service that caters to those needs. To do this, he’s surrounded himself with a community of people servicing the same level of client as his real estate team.

Let’s look at a couple of examples. There’s the landscaper and lawn artist, Harry, who takes care of the lawns of massive properties of affluent homeowners who simply don’t have the time to garden.

When Henry is selling a client’s house, he tells them about Harry’s service, particularly if they have asked for advice on how to present their garden for a sale. Similarly, when Henry lists a property, Harry finds out if anyone in his network of clients is in the market for a new home.

Another member of Henry’s network is Ethan, who is a luxury car detailer. Henry can put him in touch with his real estate clients who own prestigious vehicles. Henry also sold a home for the owner of a well-known tyre company, who he could link Ethan to as they move in the same automobile circles.

So as Henry can connect the dots for clients to the services of his network members, so they connect back to him. This helps him gain serious traction when listing a property. He bring s more buyers to the table than your local agent, and the reason many vendors choose him is because of his extensive network.

How Henry Networks

Henry is part of a BX Business Networking Group of diverse professionals that regularly meets up. Their mandate is to promote other members in the group to their own clients, spreading the word about each other’s services and connecting the dots between clients and service providers.

Henry connects with many other people in a professional or personal sense. These include all the commercial lawyers, mortgage brokers, private bankers, migration agents and so on he encounters in day-to-day work and private life. He builds relationships with them on a foundation of trust, so they would be happy to refer their friends and family to him for any real estate transaction.

How Sellers Benefit from a Well-Connected Real Estate Agent

With a large network, the power of connection ultimately means a property seller has a better shot at selling the home for the price they want. A connected agent has word-of-mouth access to the clients of everybody in his network. It makes sense that the bigger the network, the more potential buyers they have access to.

A large network gives an agent a commanding market presence. Their reach is exponentially increased through the clientele and associates of the members of their community.

Sellers can also enjoy the agent’s links to the best-in-class contractors or suppliers. Selling your home but need to renovate a couple of things first? You know you’ll get a good contact from your real estate agent. Similarly, if you’re looking for finance advice, mortgage brokers, lawyers or anything to do with the sale. You’ll be nudged in the right direction through the network of your agent.

Got Questions on Networking?

Henry would love to answer any questions you might have on his network and how he can leverage it to sell your home. Get in touch with him today… but be ready to become a part of The Henry Wong Team® network!