Becoming a master of the real estate industry takes time and dedication. However, as long as you put in the work, nothing is out of reach. Your sphere of influence (SOI) is an important weapon in your arsenal. On the other hand, it is only as effective as you make it. Learning how to use it comes naturally for most people.
Tips for Realtors Building Their Sphere of Influence (SOI)
Your sphere of influence Has been being built since you were born. If you were an extroverted child, you likely already have an extensive network of friends. Even people without a pre-existing network can create an impressive SOI quickly. The following tips will help you get started as quickly as possible.
1. Use Your Existing Network
How many people do you know? Throughout your life, you should try to meet as many as you can. The reason is simple. When you work in the real estate industry, every person you know is a potential contact. Creating an expansive SOI begins with your existing network.
2. Social Media Accounts
How many social media accounts do you have? How active are you on them? Hopefully, you already have several active social media accounts with a following. Otherwise, you have some work to do. If you do not have an active following on social media, you should prioritize creating one. It takes a little work, but the payoff will be worth it.
3. Friends and Family
Almost everyone has a network with their friends and family. They may not be ready to make a purchase themselves. However, they probably know somebody who is looking to buy a property. You will never know if you do not ask.
4. Old Colleagues
How many jobs have you had? Did you have any friends at those jobs? Old coworkers are a great source for real estate referrals. They have a steady income, and you have a common history. This makes for an easy connection, even if it’s been a while since you last spoke with them.
Building on Your Sphere of Influence
Now, you have identified all the potential within your existing networks. By now, you might have a fairly sizable SOI. On the other hand, if you want to expand further, there is plenty of work to do. You need to always look for new opportunities to grow. Then, size the chance when it presents itself.
1. Always Ask for Referrals
Do you have a referral process when you are closing sales? Most salesmen have a process to close their deals. You should have one to get referrals. The easiest sales you will ever get will be from the sales you have already made. Some people may say that it is difficult. On the contrary, most of the time, all you must do is asked.
2. Keep Your Social Media Up-to-Date
Every time you post on your social media accounts, you are pushed to the top of your follower’s feeds. That may not seem like a big deal. However, the more clicks you get, the more sales you will close. When you keep your followers engaged with your brand, they are going to build loyalty to it. Loyal customers are much more likely to share you with their friends.
2. Network Professionally
Do you have any networking events on your calendar? If not, when are you going to change that? Motivated realtors are constantly looking to expand their professional networks. If you want to do your best, you need to develop professional relationships. These will be key to your future success. Realtors that neglect to foster these relationships struggle later in their careers.
4. Direct Mailers
Finally, you need to reach out to your contacts. We recommend using a direct mailing campaign. It’s easy if you use a few postcard templates for real estate to create a personal message. Then, you can send these to key contacts at strategic times. They will not forget about you.
You could also start a direct mailing campaign to cold contacts. We recommend scouting for new developments. When people move into brand-new neighborhoods, they tend to be more receptive. If you can develop a foothold within a new neighborhood, you could earn the business of nearly everyone.
Maintaining Your Sphere of Influence
Once you have built your sphere of influence, your work is not over. In fact, it has hardly begun. You only begin to see the benefits of this expansive network when you use it. Luckily, as you maintain your network, you will also earn more referrals.
1. Use Your Calendar
Time is everything in the real estate industry. If you are not on time, You may as well not even show up. A calendar is a vital asset when you are a realtor. We recommend using one on your smartphone. That way, you can have automated notifications to notify you of all of your important events. You might be surprised by how much more successful you are by simply being more punctual.
2. Automated Emails
One reason many realtors failed to maintain their networks is that it is tedious. You do not have to send out all of your emails by hand anymore. Instead, use automated email software. These allow you to send out emails with updates to important clients automatically. You will never miss another referral again.
3. Keep Your Listings Up-to-Date
It would be best to keep your network up to date with any changes to your listings. You can create an automated mailer to send out postcards anytime you gain or lose a listing. This will help to create a sense of urgency in any potential clients. People are much more likely to make a decision if they see your listings changing frequently. When they see a deal that interests them, they will not hesitate.
Why Your SOI Matters
You would be surprised by how powerful postcard templates for real estate are when used effectively. It immediately pushes you to the top of your client’s minds. However, if you do not have a pre-existing relationship with them, you may not make the connection.
On the other hand, if you utilize your sphere of influence, you can quickly reach out to hundreds of people. Are you more likely to trust someone that you know or a stranger? By speaking to clients through other people, you can become familiar to millions.
Article Submitted By Community Writer