global real estate: local markets chapter 5: networking power
TRANSCRIPT
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Global Real Estate:Local Markets
Chapter 5: Networking Power
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In This Chapter
• Networking strategy• Building your team• Integrating social media• Referral best practices• Will local business lead you abroad?• Purposeful travel
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Networking as a Business Strategy
• Time• Effort• Money• Focus• Plan
Planned networking transforms data into market knowledge, actions steps, contacts, and transactions.
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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
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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
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Networking Information System
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• Market information• Prospects and clients• Reminders• Maps
• Spheres of influence• News• References• Trends
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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?
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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
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Referral Best Practices
Making a ReferralMaking a Referral
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Referral Best Practices
Receiving a ReferralReceiving a Referral
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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
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Purposeful Travel
• Plan your vacation and work in business?
- OR-
• Business first and work in your vacation?
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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
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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
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Key Point Key Point ReviewReview