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