FIRST, a little background: My husband and I are both licensed realtors in the state of FL. WHY would we choose to also be a part of network marketing in addition to our busy, successful real estate business?
Well, it all started 5 years ago. I owned a small business back home exclusively doing permanent makeup. After I had our second baby, having two small little ones in daycare was a struggle. Not only did I miss them and desperately want to be home with them, but they were getting so sick in daycare, and I found myself having to call into work often, rearrange my clients (which they weren’t thrilled about), and spend a ton of money at the pediatrician’s office. I was working just enough to pay for my studio overhead expenses and daycare. And, at that time, my husband was a general manager at a retail store, working crazy hours. We were both working so hard, not seeing each other often enough, and we felt like we couldn’t get ahead. Actually, we were barely staying afloat.
I saw a friend of mine talking about her network marketing business on Facebook, and honestly…I was skeptical. I had been watching my friend’s network marketing success for TWO years before I decided to join her. Our family needed change, and a side income that I could make from home sounded appealing. What did I have to lose?
Within a few years, not only was I able to make a side income, but I was able to quit my job, spend more time with the kids, and I was able to retire my husband from retail management. My husband was always interested in real estate, but his retail management job didn’t allow him the time to pursue it. So, when he retired, we both decided to get licensed and build a husband/wife real estate business. The combination of real estate and network marketing has been incredible for our family. The two businesses compliment each other perfectly.
WHY EVERY REALTOR SHOULD CONSIDER NETWORK MARKETING
With SO many network marketing companies out there, the opportunity to make a residual income on the side of your real estate business is endless. For the sake of this blog post, I will refer to the network marketing company that we found suits our personal real estate business best: Direct Cellars Premium Wine Club.
1- Closing Gifts
Premium wine makes great closing gifts. Direct Cellars Premium Wine Club offers a referral program: Refer 3 customers, and get your wine for FREE. We gift our clients a bottle or two of wine at closing. These are premium wines from boutique “mom and pop” vineyards from all over the world that are taste tested for quality by experts. Not only do I know I’m gifting our clients amazing wines they will love, but since our wine is free this saves us money. We also go a step further and gift our clients a 2 month subscription to our premium wine club. Our customers have raved about the quality of the wines and the convenience having them shipped to their homes. I feel like this type of gift sets us apart as realtors and gives our customers a unique, positive experience. This also gives us a reason to call our customers, check in, see how they are loving their home, and ask which wines they received that month and if they like them. If they love their subscription, they keep their wine club membership, and it helps us build our wine club business. WIN – WIN.
2- Broker Opens
Run wine “tasting” social broker open events. A wine social is a great way to get more agents to your broker opens. This allows us to network with more agents and expand our network.
3- Wine “Tasting” Social Events in your Community
Get to know the people in your community. Again, a wine social is a great way to get more people to attend your event. This helps us meet and connect with new people in our community and increase our sphere of influence.
4- Ongoing Client Contact
Have a reason to follow up with your clients. Gift a 2 month wine club subscription. Follow up to see which new wines they received that month. Ask how they like them. This helps us build stronger relationships with our clients. Keeping in touch with clients also makes it easier to ask them for referrals which helps us stay busy in our real estate business.
The video above is by one of the members on our team – lots of great info! ^^
5- Supplemental Income
Did you know that most real estate agents don’t make it past their first year in real estate? Building a real estate business takes time. Getting your name out there, building a network/client base, building trust, learning the (extensive) basics, farming areas, and closing deals from start to finish takes time. Only 5% of agents make 6-figures + per year. Supplemental residual income can help while business is building or while business is slow. Nick and I actually just experienced something that made us realize just how important supplemental income was. Hurricane Irma hit our city here in Florida, declaring it a “disaster area”. We evacuated before the storm hit. Real estate income wasn’t coming in, and all of our scheduled closings were pushed back, needing additional inspections. We came home to multiple home damages that needed to be repaired, and we had spent additional income evacuating to TN. It took a couple of months for our city to get back to normal. I’m not sure what we would have done without our supplemental residual income coming in AND our ability to work our network marketing business from a totally different state. You don’t realize the importance of supplemental income until unexpected expenses hit, income isn’t coming in, and you NEED income to support your family.
6- Get Paid like your Broker gets Paid
Wouldn’t it be nice to make a residual income off of the productivity of the people you are helping, just as your broker gets paid for your productivity? Except, without having the overhead expenses and liability a broker has? That is how our pay structure is modeled. Google Keller Williams profit share tree, and then check out our comp plan here at Direct Cellars. Very Similar.
7- Plan B
Like our Hurricane Irma situation I mentioned above, if something unexpected happened, or if the real estate market crashed, would you be prepared? Do you have a Plan B other than money set aside in savings? Network marketing is a perfect way to make extra money on the side in case something happens.
8- You’re Already a Networker
You are already doing what a network marketer does. Realtors are networkers. A lot of what we do everyday looks very similar to what realtors do each day. Our training is similar to real estate training: Connect with new people each day, increase your sphere of influence, build relationships (FORM), scripts (aka – what to say type of “guidelines”), and FSBO’s/expired listings/invites/connections. And, wine is a simple product you don’t have to learn about or teach people how to use to get results. Our Wine Club business doesn’t add much more to our busy real estate schedule like many other NWM companies would. Chances are, you’re doing everything we do as network marketers which would help you in any network marketing business you choose to pursue.