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The Importance of Networking in Property

By 18 November 2020March 1st, 2021No Comments

SIN Harrow

Depending on how sociable you are, the prospect of a networking event can either seem overwhelming, or be a welcomed break from your computer. Whatever your feelings are towards networking, it’s pretty much essential for your property business.

That’s because getting ‘out there’ and meeting other investors, estate agents, landlords, lenders etc. is the key to finding out about Below Market Value (BMV) properties, new apartments coming on to the market and ground sites that have been granted planning permission. You’ll also come across potential investors, and probably developers. In other words, the movers and shakers of local – and national – property markets are all out there. And, unless you’re advertising millions of pounds to plough into up-and-coming investment ventures, they’re not going to come to you. It’s crucial that you get out and meet them.

Where to find property contacts

Networking group meetings, annual conferences, landlord meet-ups, even council planning meetings – you’ll bump into valuable property contacts in many walks of life, provided you make the effort in the first place. And that doesn’t mean online chats or swapping a few emails, but rather face-to-face interaction. This is because we tend to react to people based on first impressions and our gut reaction. Sure, use Google and social media to find out who it is you need to speak to at a forthcoming event, but do the actual meetings in the flesh.

Most organised property meetings, which are specifically aimed at networking tend to be held in a relaxed environment such as a local hotel, restaurant or pub. At these you won’t just meet new people you could potentially work with in the future, but there also be a huge resource of advice and information you can tap in to in order to help power your property business along. Many of these investors, landlords etc. will have ‘been there, done that,’ and can advise you on what worked for them and vice versa, saving you the time and money of going down that route yourself. Now why would you want to miss out on that?

Of course, networking isn’t all fun and games. There will be meetings where you’ll find you would have been more engrossed sitting in front of the box watching Coronation Street. But getting out there and interacting in property circles is still allowing you to put names to faces, as well as getting to know other people’s networks and cliques (the latter being incredibly valuable in itself).

When you first start out networking in property circles, it may initially feel like a big round of introducing yourself to dozens and dozens of strangers. But, work at your social and business skills hard enough and eventually these strangers will become colleagues and collaborators. In other words, the person standing next to you at any future event could help you lay the foundations for some pretty impressive property opportunities in the future.

Here at Sourced, we have a huge network of property experts throughout the UK whose knowledge and expertise they will happily share with other keen Sourced investors. Why not consider taking out a Sourced franchise? Or come along to one of our networking events?

To find out more about our Franchise Opportunity, download the Prospectus, email us at [email protected] or call us on 0333 123 1330.

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