Building a Powerful Local Network for Your Property Management Company with Joe Stokley

The topic today is how to sell property management services by building a powerful local referral network. Our guest, Joe Stokley, can speak intelligently on this subject because he is a master networker. Joe runs Stokley Properties, a successful property management business in Walnut Creek, California. Joe and his wife began as real estate investors, and Joe worked for a large real estate investment company until the recession in 2009. Their own rental properties were facing foreclosure, so they learned how to do loan modifications and worked with banks to restructure. After fixing their own personal portfolio, they decided to start a property management company as they felt their skills were needed in the market. The business started at home, and within seven years Stokley now manages 500 properties. The key indicator to their success? Joe was able to build a third of his business through local networking. Below, you’ll learn Joe’s advice for any property management owner that is looking to gain business by being involved with the community. Committing Time and Expertise The most important thing to understand is that you can’t expect to show up to a meeting and expect business to come to you. It’s important to really jump into it and get to know the people and the process. Take advantage of the forum, and let the membership get to know who you are. This will help your networking plan take off. This is a community, and word gets around quick about who you are and what kind of work you provide. So take it seriously and get involved. People will get to know you, and that translates into business. If you want to bring half a million dollars in lifetime revenue, you’ve got to do it right. Where to Look to Find Existing Networking Groups You might find a Business Networking International (BNI) group that allows you to meet people from different industries. That’s where Joe started, but it felt limited for his needs. There was one Realtor and one lawyer who could help him bring in business, but he wanted more exposure. So, he got involved with the Contra Costa Association of Realtors, and an affiliated group within that organization called the Contra Costa Real Estate in Motion, or CCRIM. They met weekly and had 150 members, all of whom were Realtors or associated with the real estate business. There are local organizations similar to the Contra Costa group across the country. Lots of areas have a Board of Realtors, and there are networking groups that grow from there. They are specific to your local community, and it’s a great way to build a Realtor network. You need to show up to the meetings and see what sprouts. The Board of Realtors in your community may have their own networking group that goes on property tours or meets regularly. They can refer you to an existing group that is thriving, and that’s where you’ll begin to build your network. These are not the only groups we have seen property management companies have success in. Consider these groups, if they are available in your local area: Rental Housing Associations Chambers of Commerce Rotary Clubs A website like meetup.com is also a great outlet to help you discover networking groups within your local community. Getting into a Leadership Position As you network and share your particular area of expertise, there’s no reason why you can’t move into leadership positions, especially if you’re willing to put in the work.