Question. Are Networking Events A Waste of Time?

Yes. Is the shortest possible answer to this very important question. I know that some agents may not agree with this but there is a very important reason why I recommend that MOST agents stay away from so called “networking” events. Here’s 3 reason why:

#1 – Industry “friends” don’t buy houses.

You many think that meeting all of the big name agents in your area will help you sell more houses but the truth is you’re wrong. As long as your listing is visible on the same MLS that all the other agents are using then your property is being viewed by the people who matter most and that is the buyers. Having “friends” in the industry seems like it’s important but ultimately it’s more important if these friends are potential clients NOT peers in the industry.  

#2 – It’s a waste of time.

The best thing that you can do at a networking event is to get ideas from your competitors on how they are finding more prospects. The truth is your competition is not in business to help you sell houses so going to a networking event will ultimately be a waste of your time. You’ll come out much better by observing their tactics from afar by checking out their website and updating your own site to the latest technology.  When it comes to spending face time spend it with qualified buyers and sellers not your competitors.

#3 – Its a waste of money.

So you just spent $200 to become a member of some association or attend some seminar. Congratulations you could have spent that money marketing one of your properties for sale which could have resulted in another commission check but instead you spent it in order to “hobnob” with “insiders”. BIG MISTAKE.  The primary goal of an agent should be to market and sell property not socialize. The activities related to moving properties are based on the needs of home buyers and sellers not industry “experts”. Focus your time on building relationships with prospects in your marketplace not with the so called industry “thought leaders”.