Global Real Estate: Local Markets Chapter 5: Networking Power.
Post on 24-Dec-2015
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Global Real Estate:Local Markets
Chapter 5: Networking Power
In This Chapter
• Networking strategy• Building your team• Integrating social media• Referral best practices• Will local business lead you abroad?• Purposeful travel
2
Networking as a Business Strategy
• Time• Effort• Money• Focus• Plan
Planned networking transforms data into market knowledge, actions steps, contacts, and transactions.
3
Finding and Making Contacts
• Local market trends• Foreign buyers moving in or investing?• Local buyers interested in another
country?• What types of investments are they
making?• Your own interests?• Personal travels? • Family connections?4
Business Roundtable
• Local business owners want to know about market trends and reach the same clientele
• First source for advice• Exchange leads and build each other’s
businesses
5
Networking Information System
6
• Market information• Prospects and clients• Reminders• Maps
• Spheres of influence• News• References• Trends
Social Media
• Connect to your spheres’ spheres• Get acquainted before contact
– Important for high context cultures
• Demonstrate knowledge, professionalism, and value proposition
• Authenticity is key! • How do you use social media?
7
Referral Networks
• NAR Global Network of Cooperating Associations—more than 80 associations in nearly 60 countries
• CIPS Network—2,000 real estate professionals
• Franchise networks
8
Referral Best Practices
Making a ReferralMaking a Referral
9
Referral Best Practices
Receiving a ReferralReceiving a Referral
10
Expatriate Programs
• Panama: Pensionado and Special Specific Countries Visa Programs
• Mexico• Belize: Retire in Belize Program• India: Non Resident Indian Incentives• Malaysia: Malaysia My Second Home• Philippines: Special Resident Retiree’s Visa
(SSRV) Program11
Purposeful Travel
• Plan your vacation and work in business?
- OR-
• Business first and work in your vacation?
12
Trade Shows and Expos
• Networking• Comparison shopping• Sales contacts• Education• Competition—
monitor• New ideas and
products
• What is your business focus?
• Prepare a personal script
• Professional behavior and demeanor
13
Trade Missions
• Study tour • Develop relationships and
opportunities• U.S. groups—build
referral networks• Non-U.S. groups —
facilitate investment• Common ground—
identifying local partners14
15
Key Point Key Point ReviewReview
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