Are you a new real estate agent looking to impact the market? Then you will need to build your sphere of influence to become a successful agent. Building your sphere will help you establish credibility and authority in the real estate community.
People will start asking your advice about what to do with their property or how they may be able to invest. Let’s explore the sphere of influence and how to build it.
What is Sphere of Influence?
A SOI is the group of people that a person influences, such as friends and family. Your sphere will be your group of influence in the real estate world.
On the internet, they are groups and people you follow or subscribe to on social media like Facebook, Twitter, and Instagram. In real estate circles, it will be who you build relationships with to get your name out there and grow your business.
Start with Your Existing SOI
It is essential to let everyone know that you are now a licensed realtor. You will want to introduce yourself and let them know what you can offer. The first place to begin is your existing SOI. These include the following.
1. Friends on Facebook
Use your Facebook page to introduce yourself to your friends. Ask them to like the page and share it with their friends. You will be surprised at the number of people who will ask for your business card at parties when you meet someone new or just run into a friend on the street.
2. Followers on other Social Media Platforms
You can also use Twitter, Instagram, LinkedIn, etc., to connect with your friends. There is a good chance there are people in your area who know you post on these sites. You can follow them and interact with them to build your SOI.
3. Email Contacts from College or Previous Jobs
If you went to college and graduated from a real estate school, you should have a list of people who may still be in contact with you. You can use these as your email contacts to send an email out and invite them to check out your website or sign up for your newsletter.
You can also approach these contacts on LinkedIn, Twitter, Facebook, or Instagram. These people might be looking for someone who understands their needs and wants to help them achieve their goals.
How to Build a Real Estate Sphere
You can build a real estate sphere by cultivating relationships with the people in your SOI. You must be someone the friends, family, and acquaintances would turn to for information or help.
1. Ask for Referrals Post on Social Media
Post a request for a referral from your SOI on social media. Be specific about your requirements.
For example, you can ask for a referral to someone looking to buy property for investment, rent their property or even sell their home. Explain why this person would be the best choice for this real estate transaction.
2. Attend Various Networking Events
There are many real estates and non-real estate-related events you can attend in your area. Attend as many as you can and build a relationship with the people there. You can even meet them online by hopping on LinkedIn or Twitter and approaching them with a direct message.
For example, if you go to a real estate conference, you will be able to connect with people in your sphere. Approach them and ask for a business card. Use this business card to follow up with them via email or social media.
3. Find a neighborhood and Start Mailing Postcards with Market Updates or Automated Home Valuations
This is an excellent way to get your information out to the people in your area. You can send postcards with updates on a neighborhood and information on the home’s value, including a link to your website.
The more frequently you send the postcards for realtors, the better it will be for your business. Be sure you include information about how they can contact you if they need help buying, selling, or renovating their property.
4. Build a Website
Your website can be an excellent way to cultivate friendships and authority and build your SOI. You might even consider setting up a blog or social networking site just for real estate agents.
You can post-market updates, check out the latest developments in the market, list your specialties, and let other agents know about your offerings. This is also a great way to gather emails to invite people to check out your website, schedule an appointment, or even contact you.
The more actively your site is updated, the more powerful it will be in helping you build relationships with your SOI.
Keys to Consistently Staying in Contact with SOI
No question building a sphere of influence in the real estate industry can be a challenge. You will need to constantly reach out to your existing contacts and develop new relationships. To make this happen, here are some helpful tips.
1. Set a Schedule
Set a schedule to connect with your SOI. This will help keep you on task and consistently stay in contact with the people in your network. You can do this in one of several ways.
Set monthly goals with the real estate agents with that you want to become close friends. For example, if you have 20 real estate contacts, then you might want to set a goal to reach out to five each month.
2. Use Technology That Allows Mass Texting and Email
Mass texting or mass email can be a quick and easy way to get information out to your SOI. You must be using a system that allows you to send a text or email to everyone at once, for example, Twilio and Real Geeks.
This will help you stay organized and make reaching out to people simple. You can even include your website in the text or email so they have an opportunity to visit and build their relationships with you.
3. Send Emails and Postcards Every Time You Gain or Close a Listing
You can send periodic emails and postcards for realtors to remind your friends, family, and acquaintances about your business. You might even want to send a postcard or text reminders to those in your sphere of influence list.
Each time you receive a new listing, make sure you share the news with the people you have been in contact with. Be sure that you mention how they can sign up for your newsletter or even view the properties on your website using a link.
4. Use Technology That Allows Email List Management and Reminders
You can use an email list management system to organize your contacts. You can even set up reminders to stay in constant contact with everyone. This will also allow you to send out birthday wishes, anniversary reminders, and more to your SOI.
As you can see, building a SOI in the real estate industry can be challenging. But if you are committed to succeeding, then there is no reason it won’t be easy for you. The internet is your friend. It will help you develop new relationships and grow your sphere of influence.