Real Estate Agent and Trainer, Robert Rico, defines SOI (Sphere of Influence) and explains how to maximize your Sphere of Influence. Do you want to see more video blogs? Subscribe here!
When getting into real estate, one of the first things to remember is that you should inform your Sphere of Influence (SOI) of your new real estate career because you may begin working with your SOI and converting them into clients. What’s an SOI, you ask? Read on to learn!
Your SOI is a group of everyone that you know – family, friends, coworkers, professional contacts, and more – that you have “influence” over. This means that you have some level of credibility with them, whether about real estate or any other topic that you have in common. It’s not that hard to transition from a conversation about kids to a conversation about houses and the real estate market! If they consider you a worthy source of advice for kids, or any other topic, then why not real estate too?
It’s a good idea to sort these contacts out by using a Client Relationship Manager (CRM) so that you can effectively and efficiently track all the contacts you have and the exact times you’ve gotten in touch with these prospects. As a real estate agent, your CRM will be your lifeline — start using it soon, so that you form good habits before you get too busy to change!
Any CRM will have spaces for people’s contact info, and a good one should have space for additional information like their birthday, spouse’s name, pet’s name, or any other details that might help you remember who they are. Your CRM should also be tied to your email and phone apps, so that all calls or emails are tracked automatically without extra work from you.
A good way to put information into your CRM is by starting with your closest family and friends. Also, a good friend will tell you if there’s a typo or error in any of your emails! Then put in contact information (or at least names) for people you see on a daily basis, people you see on a weekly/monthly basis, and then people you see less frequently. This is the order in which you should contact your Sphere as well – closest to furthest.
Once you’ve gotten all your sphere’s information in your CRM, it’s time to capitalize on your hard work and start getting in touch with these people. Whether it’s a quick note about your new career in real estate, or an in-depth email showing comparable sales and listings available, this should all be tracked so you know who received what, and when.
Another great way to stay in touch with your Sphere is through birthday or holiday cards. Who doesn’t like a nice card for their birthday? These can even be electronic cards – no need to go to the post office! These little touches, with the assistance of your CRM, will help put you in the forefront of your clients’ minds and hopefully earn you their business.
Combined, all the approaches above should give you a good start to working your SOI and utilizing the relationships you’ve forged as a way of providing you with income as a real estate agent. Try getting into the habit of getting someone’s email and number if you meet them, and ask if you can add them to your database. People hate getting unwanted emails from someone they just met, so we highly suggest that you ask first!
Working your SOI and keeping your CRM up to date are your two best tools for starting off in the real estate industry. A good CRM will make you seem established and tech-savvy, and your clients will appreciate the birthday cards and personalized emails. Also try to become the de facto source of real estate information to your whole Sphere – people value information, and knowledge is power.
Check back next week for advice on how to build out a great, professional website as a beginning real estate agent!