Networking- a Step By Step Approach

1. Develop a database of people who know you.
2. Categorize each person into one of four categories—sphere, acquain-tance, relationship, or inner circle.
3. Create a communication strategy for each category (see below).
4. After every call:
   • Make notes.
   • Quickly reevaluate the relationship.
   • Set the next call in your calendar.

Four Categories of Contacts:

1. People in Your Sphere: Those who know you but not what you do.
   • Make one call; get permission to stay in touch.
   • Become acquaintances.
   • Possible strategy: Ask questions to uncover a sincerely shared interest.
2. Acquaintances: Those who know you and what you do but not how well you do it.
   • Make one call per year.
   • Rely on marketing to keep you top of mind.
   • Possible strategy: Contribute time to a cause near and dear to the person’s heart.
3. Relationships: Those who know you and what you do and who think you do it well.
   • Make one call per quarter.
   • Always be asking: What will it take to get them into the inner circle?
   • Possible strategy: Ask them for advice about something in their area of expertise. Follow up with a handwritten thank-you note and an offer to reciprocate if they ever have real estate–related questions. If appropriate, refer business their way.
4. Inner Circle: Those with the ability and desire to regularly refer business your way.
   • Check in with them frequently—one call per month and one meeting per year.
   • Teach them how to refer business to you—how to look for opportunities and be able to explain why you’re the right person to contact.
   • Possible strategy: Share a case study of how you’ve helped an investor make a good decision, and ask them to refer others who might be in a similar situation.