Tony and Suzanne Marriott's Phoenix Arizona Real Estate Blog

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The Value of Networking

This month has been a whirlwind of trips to Las Vegas and California.  With just one more to go next week, I thought I would take a moment to reflect on the value of networking.

One fellow Keller Williams agent I met last week tracks everything he does with networking - and every 30 contacts - agents he actually speaks with in person - if only for a couple of minutes - results in a referral.  This has remained fairly constant for the past several years he says.

If you spend 2 hours per day at a 3 day event, and speak to 10 people per hour (five minutes each plus a 10 minute break), that equates to 60 contacts, or two referrals.  Multiply your average GCI by 2, deduct the referral fee you pay, and that's your ROI on attending an event/conference and taking the time to network.

That ROI assumes that everyone is "equal" when it comes to networking - so if you feel that your numbers may not be so "fortunate" - factor in whatever ratio you think appropriate, then do the math.

IMHO, if you network at conferences / conventions / events you attend, it's hard to avoid the resulting incremental business and revenue more than paying for the expense of attending - and then some!

About the Authors - Updated 2018

If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with Haven Express @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.

Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!

Tony Marriott - Chief Executive Officer - Haven Express @ Keller Williams Arizona Realty

Suzanne Marriott - Chief Learning Officer - Haven Express @ Keller Williams Arizona Realty

Associate Brokers, REALTORS
Haven Express
Keller Williams Arizona Realty

Comments

I love the idea of spending 2 hours a day at a 3 day event talking with people and networking. There is such power in referrals.

Dusty

Posted by Dusty Irving (My Texas Home Real Estate) over 12 years ago
And not only power - but significant return on investment - get her done!
Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 12 years ago
Tony - I was great meeting you and Suzanne in Las Vegas.  I agree it is so important to network in our line of work.  That agent sounds like a power net-worker if there is such a thing.
Posted by Randy Prothero, Hawaii REALTOR, (808) 384-5645 (eXp Realty) over 12 years ago
Tony, point well taken.  I've yet to travel out of town for real estate but try to do this at home as Miami is quite big.  Thanks for the reminder.
Posted by Maggie Dokic | Miami, FL | 305.81.HOUSE (46873), GREEN, CDPE, SFR, Pinecrest | Palmetto Bay | (eXp Realty LLC) over 12 years ago
Instead of business cards, I take a little brochure about my area with all my contact information on it.  It folds so my contact information is on one side and A breathtaking photo of Marco Island on the other.   Networking is a very powerful tool!
Posted by Colleen Kulikowski, Creative Real Estate Solutions... (The Griffin Team @ Keller Williams Realty) over 12 years ago

Tony your absolutely correct in the power of networking! You might take a look at a previous posting of mine on  Sphere of Influence . It's an absolute in our business. Keep up the informative posts!

Posted by Danny Smith (DISCOVER TEXAS HOMES) over 12 years ago
We would all prefer to work with someone we know.. I left C-21 8 years ago but I still send referrals thru two C-21 offices because I know their relocaton directors.. It's nice to tell a client that I know someone who can help you... and really mean it.
Posted by Kaye Thomas, e-PRO, Manhattan Beach CA (Real Estate West) over 12 years ago
Randy - Yep - he definitely is on top of his numbers!
Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 12 years ago
Maggie - It's kind of like training wheels on a bike.  For years I didn't do it - then almost overnight it became second nature!
Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 12 years ago
Colleen - We spent some time reviewing the selection of marketing materials that were on the tables set up for the networking area.  We picked our top 10 eye-catchers and will use them as a benchmark for a piece for future events.  Sounds like you have a great marketing piece that works well for you!
Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 12 years ago
Danny - Thanks for the comment and the link to a great template for working your SOI.
Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 12 years ago

Kaye - Confidence in who you are sending referrals to is essential. Their performance reflects on you in the eyes of the client, and reflects on your bank account if they don't get the deal done!

Tony Marriott

www.PhoenixArizonaHomeSearch.com

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 12 years ago

Enjoyed this post and want to read more - try this one - Peacocks and Pickles for Christmas 2015!  Wishing you a prosperous and Happy New Year!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) almost 4 years ago

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 3 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 3 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 3 years ago

Planning to sell your home in Scottsdale, Arizona?  Give us a call for a free, no obligation, consultation!  Haven Express

Listed, Sold and Closed 100% of listings taken (dozens of them) since June 2011!

Real Estate.  It's What We Do. Best!

Posted by Tony and Suzanne Marriott, Associate Brokers, Serving Scottsdale, Phoenix and Maricopa County AZ (Haven Express @ Keller Williams Arizona Realty) over 3 years ago

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