Real estate is more than just properties and transactions; it’s a business deeply rooted in relationships. Business transactions often occur at the click of a button, yet the importance of your Sphere of Influence (SOI) might sometimes be underestimated. In this blog post, we will plunge into the world of SOI.
Understanding Your Sphere of Influence:
Your Sphere of Influence encompasses the people within your personal and professional network. These individuals may include friends, family, colleagues, past clients, neighbors, acquaintances, and even your social media connections. What sets them apart is the existing relationship or connection they share with you.
The Goldmine Within Your Network: Why is your SOI so valuable?
Your SOI already knows you on a personal level, which inherently builds trust. People are more likely to work with professionals they know and trust. Your SOI provides you with a head start in establishing credibility.
Referrals are often the lifeblood of real estate business. When someone within your network encounters a person in need of real estate services, they are more likely to recommend you. Referrals often lead to high-quality leads, which can be a game-changer for your real estate career.
Past clients within your SOI often become repeat clients. When they have new real estate needs, they are more likely to return to someone they’ve previously worked with and had a positive experience. This not only leads to repeat business but also reinforces your reputation.
Staying Top of Mind:
Regular interaction with your SOI keeps you at the forefront of their thoughts. Jessie Sorani advised professionals to maintain a strong online presence and engage with your network through various channels. This ensures that when the time comes for them to buy or sell real estate, you are the professional they remember and reach out to.
How to Tap into Your Sphere of Influence:
Organize and Categorize:
Start by organizing your SOI. Using customer relationship management (CRM) software or a simple spreadsheet to keep track of your contacts is an excellent way to begin. Categorize your contacts into groups, such as “past clients,” “friends,” “family,” and “colleagues.”
Maintain contact through phone calls, emails, social media interactions, and in-person meetings. To add value, share relevant market updates, home improvement tips, and local event information.
Personalization is key. Remember important details about your contacts, like birthdays, anniversaries, and their real estate preferences. Show your network that you genuinely care about their well-being.
“Just Checking In”:
The simple “just checking in” message can work wonders. A friendly email or call to ask how they’re doing and if they need any real estate assistance can lead to meaningful conversations.
When you do business with someone in your network, go above and beyond to ensure their satisfaction.
Ask for Referrals:
Don’t hesitate to ask your SOI for referrals. Let them know that you appreciate their recommendations and are always ready to assist their friends and family.
Your SOI is not just a list of contacts; it’s a treasure trove of opportunities. By investing time and effort into nurturing these relationships, you can unlock the full potential of your SOI. Start tapping into your SOI today and watch your real estate business flourish, guided by the wisdom of these experienced professionals.