Start Working Your Real Estate Sphere of Influence (SOI)

How many times do you have to learn that someone you helped buy a home used another agent to sell it before you decide to start targeting leads in your real estate sphere of influence?

Happens all the time, yet agents are throwing money at purchased leads when those same dollars can get more mileage by either purchasing a killer CRM or amping up the one they have, and throwing brilliant client appreciation events.

Ah, but it’s not necessarily the money for some, right?

It’s the time

Working your real estate sphere of influence takes far more time than money, at least in the beginning. And time is something busy agents are short on.

But, consider this: Agents making more than $100,000 a year told the NAR that they got nearly one-third of their business from referrals from past clients. They got 34 percent from repeat business.

Successful agents get 64% of their annual deals from their real estate sphere of influence

And, as first-time clients, they became official members of your real estate sphere of influence. If you’re like many agents, these folks fell through the cracks like the rest of the members.

Stop it!

A well-stocked CRM is the proverbial barrel full of fish and if you aren’t holding a shotgun over it, you’re working too hard chasing new business.

Fewer than one-fourth of home sellers used the agent that helped them buy their home

According to the NAR. Why? Because they forgot about him or her. That won’t happen to you, though because you’re going to take some time to ensure that you nurture both past and possible clients.

Make it easy on yourself

Make your CRM do all the heavy lifting. First, if you haven’t categorized the folks in your real estate sphere of influence, what are you waiting for? Are they potential buyers or sellers? Former clients?

Categorizing, or “labeling” as it is sometimes known, helps you automate customized content delivery to groups of leads. It’s easy to forget the generic real estate newsletter or other content but send something of value – that they’ll actually read – and the results are far more impressive.

Then, root around in your CRM to come up with past clients who represent your oldest deals; they’re the most likely to be thinking about moving. These should be further categorized as your “hottest” leads.

Once you have your CRM up to speed, you can start planning ways to make contact with the ones who are most likely to transact in the near future. One of the easiest tasks to set for yourself is to find them on Facebook and follow them.

This way you won’t miss a chance to respond to them when they post something interesting

Respond you must, though, or that growing family you helped to buy a home won’t be calling you when they need a larger home.

After all, almost 90 percent of home sellers don’t use the same agent they used previously

Events for your real estate sphere of influence

When it’s time to dive deeper into your real estate sphere of influence — to really jog their memories about you — you have a number of choices:

• Client appreciation events (even if some of the hottest leads in your real estate sphere of influence aren’t former clients, invite them anyway)
• Seasonal activities (Kris Lindahl in Minnesota does an annual pumpkin giveaway, while Billings, Montana’s Amber Uhren held a very successful sock drive this past fall).
• One-on-one meets (for cocktails, coffee, etc.)
• Invite them to help you with your favorite cause. Collecting non-perishable food for your local food bank, cooking or serving food at the homeless shelter are just two ideas we’ve seen agents use.

When it comes to keeping in touch consistently, use a multi-pronged approach with your real estate sphere of influence. Email (newsletters, market updates, etc.), social media, face-to-face meetings, snail mail (just sold/just listed postcards) and whatever other marketing strategy you employ.

The point is to remain connected, consistently. This is how you build loyalty for your brand.

Owner & Operator,

Chad Hett

The Elite Group

(800) 494-8998

[email protected]

EliteInspections.com

Largest Home Inspection Company in North America

Best Selling Author “ Secrets Of Top Producing Real Estate Agents: And How To Duplicate Their Success .”