How do some real estate agents get so many referrals and easily win over clients? It’s about their network or the people they know and works with. The more people in your network, the more significant the effect on your business and industry, and the better your chances of attracting new clients. In this guide, you will learn what a sphere of influence is, why it matters for real estate agents, and how you can build one yourself!
What is the sphere of influence?
SOI is the number of people you can connect to or reach with your message. It’s not just about how many people know who you are or how many followers you have on social media platforms; it’s about how many people will listen to what you have to say and take action based on that information.
Having an extensive network can help your business grow faster because more people will be able to hear and respond to what it offers them than if they didn’t know who owned that particular business in the first place!
Why Is SOI Important?
Networks or SOI of real estate agents who get the best results are typically the largest. Because buying a property entails a significant financial commitment, buyers and sellers prefer working with people they trust and know. Therefore, having an immense social and professional network pays well, and that is only achievable with a strong sphere of influence (SOI).
Essentially people in your community where you work or live, acquaintances, and people you know who believe in you and your business are a part of your SOI. They are a part of your life, whether friends and family or colleagues at work. Your network can also include those who don’t know you personally but professionally. Anyone who has had contact with someone connected to you could become part of this group!
List of people who can be in your network in real estate
The following is a list of people who can be in your SOI network:
- Family and friends are your immediate circle, so you must ensure they know your goals and what you need from them. They can help with networking opportunities as well as referrals for potential clients.
- Previous coworkers – if you’ve worked with someone before, they’ll be willing to connect again on social media platforms. And if one former colleague knows another person who might be interested in working with you, then even better!
- Previous employers introduced clients – these connections are great for referrals because they know your work ethic and professionalism firsthand!
- Vendors (excellent for recommendations) – vendors are often happy when their clients refer others; after all, it means more business for them too! Make sure that any vendor relationships have been built upon trust before asking someone else’s opinion on whether or not someone should do business with them (especially since most people won’t hesitate before sharing their honest thoughts).
It’s vital for real estate agents to know the people in their SOI network so they can make strategic decisions about where to build new developments. It can help develop more leads for a real estate agent and make the business more successful.
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