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Real Estate Think Tank

March 12, 2010
by Scott Levitt ·  

How to Start a Real Estate Think Tank
Share ideas and prosper…

One of the most effective ways to solve common problems and identify new business strategies is to become part of an industry “think tank.” A think tank consists of a group of individuals from diverse backgrounds who all have a common interest in a similar area of focus. Think tanks brainstorm new ideas, challenge old ideas, and voraciously consume new information which may or may not help inform topics of interest to the group.

Here’s how to start your own think tank:

1. Brainstorm names individuals you have met, either in person or online, whose opinions and ideas you respect when it comes to real estate. These may be bloggers, other members of your office, or even past clients who face marketing and client relationship challenges on a monthly basis.

2. Reach out to the people you respect and propose a lunch meeting. Inform them that you’d like to discuss with them the possibility of forming a “think tank” to mutually support one another’s professional interests. Let them know that you’ve also invited a handful of other people you respect, and think they might like to meet.

3. At your lunch meeting, ask attendees what they think of creating an informal group that meets regularly (once a month to as frequently as once per week) to discuss topics such as:

  • New business books
  • Recent professional challenges
  • “What’s working lately”
  • Challenging situations / group opinions on tough topics
  • Possible presentations at industry trade shows

If those you contact are receptive to the idea, establish the time and place for the first official meeting. A location conducive to frank conversation (i.e. semi-private) without undue distractions (think: no television) is advisable.

4. Consider forming a free Yahoo! Group or Facebook fan page which members can contribute to / discuss topics between meetings. This virtual meeting ground will be a fertile place to let ideas mature leading up to in-person meetings.

5. Be sure to set the next meeting time and location before the end of the current meeting. You may also propose a list of future topics.

Sometimes it can be a challenge to find the right “fit” when recruiting members, but once the group is established, you’ll find it can be a tremendous resource for advancing your career, developing new ideas, and solving problems. Plus, there’s nothing quite like saying, “Last night we talked about that in my real estate think tank…”

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One Response to “Real Estate Think Tank”
  1. Jose Rivera says:

    I would like to communicate with fellow Realtors who are interested in learning more about helping real estate investors, in the research, buying, fixing, and renting of real estate properties. Right now, more people are renting instead of buying and we can bring Investors and Renters together. Would like to hear from others out there who have similiar ideas.

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