In this episode, I discuss why it is important to be a connector in your industry. Real estate is a very social and interactive industry. There are always people who need a little help, and people who have someone in their network that can be of assistance.
One of the most important lessons my mentor taught me (and something that he is exceptionally gifted at) is being a connector. A connector is someone in the middle between an individual who has a need, and an individual or company that can solve that need. The best connections are the ones that are mutually beneficial to both the person in need and the person with the solution.
My mentor is a very charismatic guy who made a lot of friends in this industry and knows a lot of people. He was also a mentor to many people in my local real estate investing community. So he was able to connect people. On more than one occasion, he connected me to people that were able to help me and my business. He also connected people to me; people who he felt I could help and who would benefit from getting to know me.
Being a connector is something that I know is a powerful force in business. It’s not something that I’ve always been very good at, but I always make an effort to connect people who I feel would benefit from knowing each other. Today I had a listener of this podcast contact me directly via email. He was asking if I could help him start his business. I am always excited to help new real estate investors with their business. This particular listener, however, was specifically interested in very large multi-family buildings and commercial properties. Even though I very much wanted to help him personally, this is simply not my area of expertise. Luckily, I interview all kinds of really successful investors on this podcast, and I was able to direct him towards one of my past guests who I felt would be a perfect match for him. This connection would allow him to receive very good information and guidance that I was not best equipped to give him.
Today I also had an industry acquaintance connect someone that they felt I could help to me. The great thing about that connection was not only that I feel that I could help this person, but that they will also be very beneficial to me in my business. It was a perfect win-win connection! It’s actually a very exciting connection that I will share more information about in the coming weeks.
As much as you should always try to help people who reach out to you, the worst thing you can do is pretend to have knowledge that you do not have. A new real estate investor who turns to you for help is really at your mercy to an extent. They may or may not know if the advice you’re giving them is valuable. If you fake expertise, you’re not only hurting them, but it will almost certainly end up reflecting very poorly on you. Even worse, you’ve not created a friend and colleague, but probably someone who will end up being very angry with you and will not speak highly of you in the real estate community.
When you connect people for their mutual benefit, it not only helps those people, but it also elevates your status with each of them. I know that I very much appreciate when people recommend me to others, or offer me a recommendation when I have a specific need. I look at them as a connector: someone who has information that’s valuable and is willing to share it. That is the kind of person that everyone wants to know and associate with.
Take action, network, learn, help others when possible, connect them to someone who can help them if you can’t. That’s how this business works.
Be a connector.