Motivated buyers. Motivated sellers. Real estate investors. Home improvement specialists. Home inspectors. Electricians. Appraisers. Bankers. Mortgage Brokers. Real estate attorneys. The list of people you need to run a successful real estate investment business is endless. And with limited marketing dollars, how do you stay top of mind so your contacts think of you when they hear of new opportunities or a great service provider? The answer is: networking.

Effective networking allows you to create a virtual "sales force" of people who want to help you - people who are looking for new business opportunities for you, share information on trends, and make sure you stay in the market "loop."

Here are some organizations where you can network with other real estate professionals: » Massachusetts Real Estate Investors Association (MREIA), 781-631-8018 » New England Real Estate Investors Association, 978-256-8033 » Cape Cod Investment Club, 508-759-7700 » Waltham Landlords Association, 617-894-1798 » North East Real Estate Investor's Group, 781-297-0255 » Bay State Wealth Builders, 781-447-6881 » Central Massachusetts Real Estate Investment Association 508-987-8806 » Boston Landlord and Investor Group, 617-448-5550

There are numerous organizations for you to network with other real estate investors (see sidebar) as well as other business people in general. But effective networking is about more than showing up at the events and shaking hands. To become a master of networking, follow these five steps.

1. Start with a plan.

   You go to a meeting. You're not sure what you want to accomplish. You hand out 100 business cards. No one calls. You decide, "Networking is a waste of time." Then you wonder why everyone else is hearing about all the great opportunities.

   There's more to successful networking than attending meetings and swapping cards. It starts with attending the right meetings for your purposes. Choosing the right networking forum for you depends upon your investment goals. What type of people do you want to talk to? Who specifically do you want to meet? Take the time to think about these questions and make a list of the top organizations where these people congregate.

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   Visit each organization twice to get a good feeling for it, and talk to other members to find out how the organization has helped their business. Don't expect a lot from these initial meetings - your objective is to see if the organization is a good fit for your goals. Once you have evaluated all the potential groups, narrow down the list to your top two or three organizations. These are the ones where you will spend the most time and get involved. These are the ones that will deliver the most value.

   Now think about your objectives before you go to a meeting. Be clear about what you want to accomplish at the event - don't just go and speak to the same people each time you visit. Challenge yourself to meet three new real estate attorneys, for example. Certainly, your goal is to strengthen your network, but that mostly happens outside of these meetings. At the events themselves, look to diversify your network. Your objective could be to meet one specific person, to meet a certain number of new people in a key profession, or to find someone who knows about the real estate market in a specific area. It doesn't matter what your goal is, just be sure you enter the meeting with one.

2. Be memorable.

   Be sure you have a clear, memorable way to introduce yourself. When you meet someone, really take some time with him. Look at him while he speaks, not over his shoulder for the next person you want to meet. Ask pertinent questions so you can really learn about her business, what she's looking for and what she has to offer. The two best ways to be memorable are to have a clear, concise introduction that leaves people wanting more and to be engaged when you are with someone.

3. Follow up and stay connected.

   After a networking event don't sit and wait for the phone to ring. As soon as you return to your office, enter all your cards in your contact management database and touch base with each person you met within a day or two of the event. To continue to be memorable, send a handwritten note to tell someone what a pleasure it was to meet him or her. Nowadays, few people take the time to send handwritten notes, so this is a great way to stand out in someone's mind.

   Call the people you think you can build a mutually beneficial relationship with and invite them to continue the conversation over coffee. You don't even have to wait for your note to arrive. Most networking really happens outside of the structured events. A rule of thumb is that you should be in touch with everyone in your database at least six times a year through phone calls, emails, letters, etc. For your most important contacts(your advocates) you should be connecting at least 10 times a year.

4. You must give in order to receive.

   Throughout your interactions, think about how you can help the other person. Did you meet someone who needs an introduction to a great mortgage broker? Can you recommend a book you found helpful or send a newspaper article to someone else? Keep others in your network top of mind and find ways you can help them.

   Knowing how to help others can be a challenge, but you don't need to guess. Ask the direct questions, "How can I help you?" or "What do you need to move your business forward?" Give what you can and what you are comfortable giving, and do it because you truly want to help. Nothing is more transparent than someone who is helping you just because they want something in return. By giving, people will think of you often and will truly want to help you back.

5. Focus on the relationship.

   Networking is not the same as selling. Networking is about building relationships and connecting with others so they feel good about you and referring business to you. Take the time to get to know someone and help him or her.

   Lasting connections are not immediate. They come with time and trust. You need to nurture your network by initiating contact regularly, asking how you can help, and following through. If someone gives you a referral, make sure you follow up right away. Send a note to thank the person who provided the connection and let her know how things turned out. The most effective networkers are highly credible people. They follow through when they say they will. They deliver on their promises because they understand that actions speak louder than words. Make sure your actions are saying exactly what you want people to remember about you.

Networking is the most cost-effective marketing technique to grow your business. Some sales experts say that each of us knows at least 200 people. Think about it: if you know 200 people who each know 200 people, you've just expanded your network to 40,000 potential resources. Follow these tips and take the time to build mutually beneficial relationships and you will receive more opportunities than you ever thought possible.

Susan LaPlante-Dube is president of Precision Marketing Group (www.precisionmarketinggroup.com) in Upton, MA, where she focuses on delivering "Marketing That Makes Money" for small and mid-sized businesses. She can be reached at (508) 482-9511 or susan@precisionmarketinggroup.com.

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