The room was buzzing with conversation, but I stood awkwardly in the corner, clutching my lukewarm cup of tea like a lifeline. The attendees were dressed in sharp suits, their laughter echoing off the walls, and I felt like an outsider peering into a world I didn’t quite understand. It was a BNI meeting, and I was surrounded by thirty strangers. I had been awake since 5 AM, and the thought of ‘networking’ felt more daunting than exciting.
That was a decade ago, and if I’m honest, the idea of networking still makes me cringe a little.
The dreaded “What do you do?” question looms large, and finding the right networking group can feel like searching for a needle in a haystack. Some groups are filled with overzealous suits, while others seem to attract members who are more interested in chatting than in growing their businesses.
But here’s the kicker: every business success book out there insists that networking is essential. So, what’s the real deal?
Do Networking Groups Actually Benefit Estate Agents?
I decided to ask some of my fellow estate agents from the AJ Mastermind group about their experiences with networking. Here’s what they had to say:
Steve Atherton from Hunters in Wirral shared, “We are members of the local business association, and it has definitely put our name out there. We’ve become the go-to agents for advice, and it’s brought in a number of instructions. I’d estimate the value at around £10,000.”
Adam McHenry from Cadman Homes in Rugby chimed in with his success story: “Our BNI chapter has generated between £35,000 and £38,000 in sales fees, along with three managed instructions.”
Claire Roberts of Rutley Clark Unique Homes in Morley has been a long-time advocate of BNI: “I’ve been a member for almost five years and have gained a lot of business from it, even if it’s not always the right business! I also enjoy a local group called Elite Business Academy, which combines networking and coaching.”
However, not everyone has had a positive experience. Andy Keogh from Pointons in Bedworth expressed his frustration: “I’ve attended a few networking events, but they never made me a penny. It felt like a pyramid scheme —‘you buy from me, and I’ll buy from you’—not my cup of tea!”
Then there’s Gemma Atkinson from Flying Keys in Nottingham, who is considering a different approach: “I’m seriously thinking about starting my own group, not to make money, but just to meet people!”
I find myself agreeing with Gemma. Why not create your own networking space?
Creating Your Own Networking Group: A Personal Journey
Let me share how I run a business club in Windermere, where AshdownJones is based.
We’ve grown to around 300 business owners, each a micro-business ranging from solo operators to small teams like shop and hotel owners.
We meet monthly to brainstorm business challenges, focusing on low-cost and no-cost marketing strategies. The innovative ideas and creative alliances that emerge from these meetings are invaluable.
On average, we secure one instruction a year directly from the club. While that may not sound like much, those instructions have been worth around £40,000. The social proof from our successes has likely led to an additional £100,000 in instructions.
The indirect benefits are even more significant. For instance, I’ve been invited to value a £2.5 million home that may come to market soon, and I even borrowed a £150,000 boat for a lifestyle video! Plus, I’ve built a fantastic network of friends who support my business.
The Mixed Bag of Networking Experiences
When it comes to the contentious topic of networking, opinions vary widely. Here are some key takeaways:
- Target Market: Networking tends to work best for low- to mid-priced properties. If you’re in the high-end market, you may need a different approach.
- Patience is Key: It can take months, even years, to see the benefits of networking. Don’t expect immediate results.
- Giving vs. Receiving: As an estate agent, you’re more likely to give referrals than receive them. This is part of the game.
- Clear Vision: You need a strong vision of your ideal client and communicate it clearly to your networking group.
- Leadership Matters: Taking on a leadership role in your group can lead to better referrals, but weigh the additional responsibilities against the potential benefits.
Let’s Change the Narrative: From Networking to Community Building
I’m not a fan of the term ‘networking’. It feels cold and impersonal. Instead, I prefer to think of it as ‘community building’. When done right, that’s precisely what it is.
Community building is a vital part of our marketing strategy. While it’s not easy, and results don’t come overnight, investing time in community building can yield sustainable and profitable outcomes for years to come.
This approach is one of the marketing strategies we teach our AJ Mastermind clients for free, ensuring they get the most significant return on their marketing efforts.
But there’s a catch: we only work with one agent per area.
If you’re interested in learning more about what it means to be an AJ Mastermind member, I invite you to join us for a FREE Behind the Scenes at AshdownJones day at our HQ in Windermere. Don’t miss out on this unique opportunity to see firsthand what AJ Mastermind is all about.
For more details and to secure your spot, please visit our events page here. We look forward to welcoming you!
Final Thoughts: Embrace the Journey
Networking, or rather community building, doesn’t have to be a chore. It can be an enjoyable journey filled with opportunities to connect, collaborate, and grow.
So, the next time you find yourself in a room full of suits, remember that you’re not just there to exchange business cards. You’re there to build relationships, share ideas, and create a supportive community that can help you thrive in the ever-evolving property market.
Let’s embrace the power of community building and transform our networking experiences into something meaningful and rewarding. After all, we’re in this together, and together, we can achieve great things!
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When you’re ready, here are 3 ways we can help you:
1. Reach out for a call with Sam – choose from three different calls to help you overcome your specific challenges. All free and without strings. Grab a coffee and let’s get to work.
2. Come and spend the day with Sam and Phil, at AshdownJones’ HQ, in our beautiful Lake District. Meet the team, check out our systems and marketing, and enjoy meeting like-minded (non-competing) agency owners. We’ll even put on lunch! Book your place here.
3. Join our Facebook community of super-ambitious independent agents.
Hope to catch up with you soon and find out how you’re growing your business!
Till then,
Sam and Phil
