You Can NOT Succeed in Real Estate Without a Large SOI

You Can NOT Succeed in Real Estate Without a Large SOI

There’s been a lot of talks lately regarding the real estate industry. There are so many changes, I can’t even keep up with them all. New agents, as well as veteran agents, are asking the same question and jumping at every opportunity in hopes of generating leads.

Just today, I read a post and the comments regarding lead generation. The poster wanted to know how to generate leads, 59 agents answered, 36 out of 59 said SOI(Sphere of Influence). One of them even suggested getting out of the business if you don’t have a large SOI. Could this be true? Can’t be..

There are new companies coming to our cities promising the moon, some are employing agents which is another shiny object for those who don’t have an SOI, new to the business, don’t really have the funds to market but need a weekly paycheck. However, think about it, if you treated “this” as a business and worked eight hours a day, five days a week, what would happen?

We are seeing real estate companies adding mortgage business, mortgage companies adding real estate divisions, builders buying out mortgage companies just to make more money. Our industry has been on a change mode for a very long time but now, we have more hands in the pie than ever and it’s all about $$$$$$ and more money.

So, if you are a REALTOR® without an SOI, can you make it in this business? The answer is, absolutely YES! Don’t listen to those who say the only way to earn money as a REALTOR® is by having a large database. My advice is, work every single day towards your goal as if you were an employee and your employer was paying you for an eight hour day and see what happens after thirty days. See, most of us get comfortable and become complacent. We start hearing all the objections, start comparing ourselves to others and listen to all the negative garbage. To me, it is garbage.

If you wish to pay for leads, DO IT!
Door knocking? By all means, knock away but be sure to know what you will say and how you will deliver your message when they answer the door.
Direct mail is dead! You’ll hear this from many people, if you do, ask them how often they mailed out and for how long. Direct mail isn’t an overnight success but it works.
Social Media is for ranting, I will unplug. WRONG! Social Media is where your audience is. Stop posting negative garbage, give them something of value instead. Don’t chase people, let them come to you because of the value they see.
The Law of Attraction. This one will never..ever fail you.
ActiveRain has changed, it’s no longer relevant. Don’t listen to those naysayers. I wasn’t on ActiveRain when it was first created, I’m sure there’s been a lot of changes. I can’t compare what is to what once was but I can tell you, if you use it right, your business will change.

Bottom line is, what works for me may or may not work for you but doesn’t mean I’m going to stop what is beneficial to my business and personal life. Learning is one thing but changing your business model based on naysayers isn’t the way.

Remember, you are in the people business. Yes, our industry has changed a great deal but today, more than ever before, people are looking for that human touch. Someone they can talk to in person, not just through an automated system. You are the local expert, you know about the parks, the schools, to backroads, lakes, beaches, local attractions, restaurants. Be a REALTOR® selling a lifestyle, not someone who’s going to chase buyers and sellers and give them incentives so they would choose you.
Whatever you do, do not STOP. Don’t give up..Do NOT listen to those who say the only way to make it is by having a large SOI so you would get referrals. You have to start from somewhere to build that Sphere of Influence.

In just a few days, we will enter March 2018, let that be the start of your next phase. Make a plan and follow it by hard work. If you are not a Rainmaker already, become one and start blogging so your posts can reach the general public, not just the ActiveRain members. Here’s to your success!

You Can NOT Succeed in Real Estate Without a Large SOI

 

 

Beth Atalay, Broker/Owner Cam Realty and Property Management 407-929-1852 Wheretoliveinorlando.com BethAtalay@Gmail.com Your Orlando Agent - Where to Live in Orlando