What Is Your Sphere of Influence?

homevalueleads | May 24, 2018 | Uncategorized

We recently wrote a blog about how word of mouth marketing can lead to both good and bad impressions. Often, word of mouth marketing leads to great impressions. However, there’s a downside to word of mouth marketing because no matter how you cut it, you won’t know exactly what someone says about you. 

That can lead to outright disaster if you’ve made a bad first impression. One way to temper any bad thoughts that could come from word of mouth marketing is to create a sphere of influence. Then, communicate on a regular basis with your sphere of influence.

What’s a Sphere of Influence?

A sphere of influence is pretty much everyone within your personal sphere that you can possible work with to sell or purchase a property. Developing a sphere of influence is the best way for real estate agents like you to ensure commissions. 

Within the sphere of influence, or SOI, is what’s called the sphere of influence business model. The SOI business model should work for any individual who partakes in sales activities no matter the industry. 

Per RIS Media, there are three primary activities in a sphere of influence business model:

  1. Nurturing the personal relationships you already have within your social network 
  2. Staying in touch with everyone else
  3. Meeting new people

Now, it’s time to develop each one of the three primary activities in the SOI business model from a real estate agent’s perspective.

Nurturing the personal relationships you already have within your social network

Everyone has a social network. You weren’t born a real estate agent. That means there are people you’ve developed relationships with in your pre-real estate agent existence. You want to keep those relationships intact. The reason is because you never know what might change with the individuals in your current social network. Who knows? Many of them might get married, have kids, and must purchase homes!

Staying in touch with “everyone else”

This might be the most difficult activity of the three. The reason is because many of us aren’t great at keeping in touch with those we personally know. How can we be expected to keep in touch with everyone else? Who is everyone else? Everyone else are individuals that aren’t part of your social network but are individuals that you know through individuals within your social network.

Once you meet an everyone else, it’s important to keep in touch. The best way to do this is to exchange information. You could put the individual onto a once a month email blast. Or, you could send a text once in a while.

If you feel comfortable enough, you could try to work the individual into your social network. Only do this if you feel comfortable enough. 

Meeting new people

You might think this is difficult. But, as a real estate agent, there’s plenty of opportunities to meet new people. Look for lead generation events and real estate networking events in your area.

As a real estate agent, you must develop a sphere of influence. The sphere of influence business model is to nurture the relationships you already have in your social network, staying in touch with everyone else, and meeting new people. If you follow the SOI business model, before you know it, you’ll have a strong sphere of influence!

 

 

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Home Value Leads offers optimized lead generation for real estate agents using lead capture websites to grow home listing pipelines. We continually test all aspects of our lead websites to ensure high conversion rates at the lowest cost per lead. New features are added regularly to enhance the experience of potential sellers and listing agents.