Real Estate Marketing Plan to Convert Your SOI Into Business (part 1)

business tips coaching marketing podcast Feb 16, 2022

This podcast episode is for you if…

  • You are wanting to get more business from the people you know. 
  • You’re wondering why the people you know that are buying or selling real estate are not talking to you or asking you any questions.
  • You just moved to a new town and you don’t know where to start to create a sphere of influence.
  • You work at a job you can’t stand anymore and you’re ready to work for yourself.
  • You’ve been thinking about getting into real estate and you’re wondering how it works.
  • You’re going through classes to get your real estate license but you don’t know how you’re going to transition from learning about real estate to growing your bank account.
  • You have a job, but you want to make more cash on the side and are looking for a side hustle.

In this 2-part series, we’ll define what a sphere of influence is and how to track, communicate, and grow your sphere of influence.

Here is your real estate marketing plan to convert your sphere of influence business:

How to Define Your Sphere of Influence

Your sphere of influence is the people you know. Who you go out to dinner with, watch or play sports with, or go to church with. It could even be an acquaintance such as a friend of the family, your hairdresser/barber, or the barista at the coffee shop you frequent. Even consider agents out of town who may be visiting that you can get referral business from.

With your sphere of influence, even if the person doesn’t want to talk to you you’re already halfway there from where you were being unknown on both sides.

So where do you start? Look at the list of people you send a holiday or birthday card to, or the people in your (or even your kids) yearbook. Consider your neighbor or even someone you see at the dog park on a regular basis.

We help influence real estate agents’ businesses to grow. We’ve taken one agent from $2.7M in production after being in real estate for 10 years to over $30M. We even had an agent on our team that was brand new to real estate who followed these practices and the coaching we offer and ended up selling over 48 houses in their first year.

The Simplest Way to Track Your Sphere of Influence

Agents create hurdles or roadblocks by not doing things they need to do. The reality is you need a little bit of success first before you believe something. To help you overcome that block, start simple, such as using Excel or Google Sheets to track your sphere of influence.

Most people think their cell phone is the best way to track their contacts. However, it doesn’t allow you to extend or remember conversations. When you’re first getting started in real estate, there’s no need to spend money on a CRM right away. Take baby steps and start easy with something that won’t intimidate you. Once you’ve built a list in Excel or Google Docs, and you start seeing success, you can then import it into a more complex CRM.

Join us next week as we talk about communications and methods of delivery to your sphere of influence.

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