We've all heard that networking is an essential aspect of strong business development. What many in the real estate industry don't seem to get, however, is that networking's sole aim is to grow and promote your business.

Looked at through that lens, the value of networking for real estate agents lies in hanging out with people that can help them find clients, not those that are competing for those very same leads.

Networking With Other Agents in Town

It appears that the real estate industry generally conflates networking with socializing, and those are distinctly different animals.

Remember, other agents in your market are highly unlikely to promote your business in any way, shape or form, so networking with them, in the strict sense of the word, is useless.

Socializing, on the other hand, may be of immense value, but for different reasons. Who doesn't need to blow off steam from time-to-time, and what better way to do that than with someone who does what you do for a living?

Who else understands the frustration of a listing client who insists on overpricing the home, or the buyer who lowballs every list price and wonders why his offers aren't accepted? From commiserating to sharing ideas, having lunch, cocktails or coffee with another agent in your market is good for the soul.

Just don't think of it as networking, and don't waste valuable time socializing with your competition under the guise of networking.