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Technology at Work Real Estate Edition
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Social networking 101 for REALTORS

The 4 things every agent should know about using social networking for business
John D Mayfield By: John D. Mayfield, The Real Estate Tech Guy!
According to Wikipedia, a social network is a social structure made of nodes (which are individuals or organizations) that are tied by one or more specific types of interdependency, such as values, visions, ideas, financial exchange, friendship, kinship, dislike, conflict or trade. Research in many academic fields has shown that social networks run on many levels, from families up to the level of nations, and play a critical role in finding out the way problems are solved, organizations are run, and the degree to which individuals succeed in achieving their goals. Sounds a little complicated but in reality it's not.
I'm sure you've heard of web sites like Facebook, MySpace, Linkedin, Plaxo and others, where people begin networking with other people from around the globe via the Internet. What's great about social networks is they enable you to get friends and peers (members of your social network) to help you earn more business.
Let's face it; real estate is a people and relationship business. The more people you can get to refer you the more opportunities you'll have to produce more income. There's even a web site called "Ning," (www.Ning.com) that allows consumers to create their own social network where one can begin building a group of contacts and relationships for interests or hobbies you might have.
Regardless of how you begin using social networking, (creating your own or joining an existing network) there are several important points to remember:
First: Create your profile and keep your information updated. Most people who are serious about social networking want to connect with others who are serious too. Many people join social networks then fail to update their information, check their messages and new invitations regularly. Be sure to convey that social networking is important to you by keeping your profile current and logging in to your network on a consistent basis.
Second: Contribute to your network of friends regularly. It's important that you add content and relevant information to your site on a consistent and regular basis. The more you can comment on other network members the more your name and face will be broadcast by the World Wide Web and your social network site. Don't just sit on the sidelines and watch, get in and take part in the game!
Third: Avoid trying to sell too much through your network. Although your social network will help drive business to you if done properly, it can backfire if you try to sell your products and services too hard. Strive to keep a good balance of content and information that is of value and useful to your social network.
Finally: Have fun! Social networking is an excellent way to have fun, relieve stress and most of all learn from your peers, friends and acquaintances. Although you may look at social networking as another work-related task, in reality you'll find social networking a new way to study, learn and discover ways to improve your real estate business.
Should you be involved in a social network? The answer is a resounding "YES!"
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