sphere of influence: Marketing (myself) Doesn't Work (for me)
- 08/27/08 01:02 AM
Have you ever noticed (or is it just me) that the people you actually "market" to aren't the ones who actually respond? In my worlds (‘ritin' and real estate), I find that the bulk of my business comes from those who have not received any direct sales pitch from me. Either I'm a lousy sales-pitcher (very possible) or maybe (just maybe), people don't want to be sales pitched.
Here's an example. A few weeks ago I got a call from a lender with whom I've done a little business the past. Just your basic catching-up call, prospecting, I'm sure. Well, I … (24 comments)
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sphere of influence: Too New to have SPC's (satisfied past clients)? That's Okay, Just Be an RCHB (reasonably competent human being)!
- 08/11/08 10:06 PM
I recently wrote a blog called "Hang in There, Rookies! It Gets Easier, I promise! which was about how once you get a few SPC's (satisfied past clients) under your belt, this job really does get easier - the bringing-in-business part of it anyway. SPC's are by far the best source of business in our business and if you have enough of them... who know where to find you... you can pretty much be set for life. It's a beautiful thing.
However, in the meantime, while you're searching for those soon-to-to-be SPC's, you need to come across as a Reasonably Competent … (24 comments)
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sphere of influence: There's No Harm in Asking, Right?
- 07/31/08 11:04 AM
Okay, okay, you are all tired of me ranting and raving about the sins of Referral-Begging and Referral-Bribing, which in my opinion, just annoys and irritates your friends. Oh, and a nice side-benefit; it advertises how desperate you are for business.
Of course, I hear all the time; "There's no harm in asking!" or "You gotta ask for what you want if you expect to get it!"
I disagree. I think there's all kinds of harm in asking, and no, I don't believe you always gotta ask for what you want. But I've written thousands of words on this topic already...
… (25 comments)
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sphere of influence: BE the Person Your Boyfriend Wouldn't Dream of Cheating on (yes, it's real estate-related).
- 07/01/08 12:05 AM
A long time ago, in my early 20's (egads, nearly 20 years ago), I was dating an equally young lad from Ireland. He was planning a "holiday" (as they say in Ireland) back home for three weeks. As an insecure young lass, I was terribly worried that he would meet back up with his high school sweetheart and, OMG, CHEAT on me.
So, I did what every other immature young woman with a boyfriend does... I whined, I pouted, I threatened, I begged him not to cheat on me while he was gone. Every day for a month, I "reminded" him … (25 comments)
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sphere of influence: Asking for Referrals versus NOT Asking for Referrals - Which is more risky?
- 06/25/08 11:59 PM
I was interviewed Monday on Real Estate Radio USA (listen here) and in the middle of the interview, I had an epiphany about Referral-Begging... (I love epiphanies, don't you? Although perhaps in the middle of a live national radio interview, the timing might not have been the best).
Anyway. Back to my epiphany. It's about whether or not to ask/beg/bribe your friends for referrals, which as you probably know, is a practice I'm adamantly against.
Yesterday, my seller client (whose house sold in TWO DAYS, yay!) sent me an email asking permission to give my name to two friends who are … (22 comments)
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sphere of influence: BE YOURSELF... HAVE MORE FUN... SELL MORE REAL ESTATE
- 06/21/08 12:33 AM
"The more fun you have selling real estate, the more real estate you will sell!"
I believe this with all my heart. When I'm having fun and feeling good, my business explodes. Have you ever noticed that one great phone call begets another ... and another? When you're rolling in MoJo and you know you're hot stuff... the whole world seems to think so, too. And that phone RINGS!
So, how to keep the MoJo Risin'? By ramping up your cold-calling and door-knocking efforts? By committing to yet another expensive monthly postcard campaign?
Uh, no. Not for me at least.
If … (24 comments)
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sphere of influence: Some Compelling Numbers from the Sphere of Influence Number's Game...
- 06/20/08 02:12 AM
*SOI - Sphere of Influence = People Who Know You
I recently wrote about how the "numbers" of an SOI/Relationship Prospecting business model blows away the traditional concept of a "numbers game" in real estate sales. You can read about it here.
Not convinced? Here are some more numbers for you to ponder...
If you attend ONE social event (wedding, housewarming party, Sunday BBQ) or neighborhood activity (street fair, festival, block party) per week, in a year, that's 52 opportunities you created for yourself to meet people who will have a real estate need in the next six months. Of course, it's … (19 comments)
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sphere of influence: There's GOLD in Them Thar *SOI!
- 06/10/08 11:14 PM
*SOI = Sphere of Influence = People Who Know You
"How can I prospect to first time buyers?"
"How can I meet newly married people?"
"How can I get my name in front of divorcing couples?"
"How can I market to renters?"
And even...
"How can I meet newly dead people (or more specifically, their heirs)?"
These are questions I read every day here on Active Rain and on the other real estate agent forum I moderate (www.agentsonline.net).
Responses are fairly predictable - "Hold buyer seminars, mail to apartment complexes, write to attorneys, attend bridal fairs, … (21 comments)
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sphere of influence: You Wanna Play the Numbers Game? Okay, let's play.
- 06/05/08 03:11 AM
Most agent training programs insist that Selling Real Estate is a Numbers Game - that is, in order to bring in enough business to keep the home fires burning, you have to touch as many people as you can with your name & number. The more people you touch, the better your chances of procuring a buyer or a listing.
We've all heard the mass-marketer's philosophy - you have to contact X number of people to get a lead and you have to have Y number of leads to get a listing (or a buyer) and you have to have … (17 comments)
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sphere of influence: The BEST Way to Build a Strong Sphere of Influence...
- 05/29/08 12:35 AM
I've been writing for a few years now on tips, techniques and strategies to build and maintain a strong sphere of influence business model.
Marketing to Your SOI? Don't You Dare! The Seduction of Your SOI: How Trying to Get Business is Kinda Like Trying to Get... uh... Rely on my SOI? I don't know anyone who wants to buy or sell! But y'know what the all-time most powerful way to run a successful business based on the personal relationships in your life is?
Do a hell of a job for your clients.
Go above and beyond every chance you get. … (21 comments)
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sphere of influence: Sphere of Influence Seduction Tips for Phone Calls
- 05/16/08 12:45 AM
I have an SOI Business Plan (that is, a plan for how often I contact the people I know) that includes a couple of personal phone calls every week. Before I continue, let me stress that I never ever ever attempt to prospect to my SOI during these calls - I'd hate to train the people I know to "let me go to voicemail!"
Anyway, I admit that I struggle with the personal phone calls. Don't know why it's so hard, but it is. I guess it's because I really don't like to talk on the phone myself, so it's hard … (21 comments)
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sphere of influence: Hellooooooooo??? Are You Out there, SOI? Yes, Jennifer, we're here!
- 05/07/08 03:00 AM
For almost twelve years, I've run a nearly 100% SOI business - that is - most of my clients have come from the people I know, the people they know, or the people I meet. In other words, I've done very little formal lead generation with the goal of attracting the attention of strangers. It's worked for me.
As many of you know, I have a somewhat organized, yet unconventional approach to keeping my name in front of my SOI. I don't bombard them with cheesy mailers; I don't pester them on a monthly basis for referrals; I don't sort them according to whether … (22 comments)
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sphere of influence: My New Buyer Calls at 7:30 am on Sunday Morning - Do I Jump? You Betcha!
- 04/27/08 07:49 PM
Want to build a raving fan base that will support your business for years to come? It's SO easy - way easier than cold-calling, door-knocking or farming and a heck of a lot cheaper. All you gotta do is look for opportunities to impress the heck out of those who have the potential to be your future past clients and stop worrying so much about whether you're wasting your time!
On Friday morning, I got a referral from an agent on Active Rain (Thanks Miranda!). The buyers live in the mountains, want to buy a home in Denver... this week? … (65 comments)
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sphere of influence: "Farming" from a Hard-Core SOI'er's Perspective
- 04/13/08 10:52 PM
Geographic farming is a popular prospecting method where real estate agents choose a particular neighborhood in which to, shall we say, make their presence known. Typical farming activities include the mailing of postcards, the walking of streets and the painting of bus benches. The goal is to become a household name in the farm area, so that when anyone thinks of selling real estate, they race to their refrigerator, find the farmer's phone number from his fancy refrigerator magnet, and make the call.
Fair enough.
For years, I've advised new agents not to farm unless they're weighted down with way too … (13 comments)
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sphere of influence: So, Jennifer, How's it Going for You in Denver?
- 03/29/08 10:11 AM
As my loyal readers know (my, that sounds pretentious, doesn't it?), I recently re-entered the Wonderful World of Real Estate Sales, after two years away on a sabbatical WRITING about the Wonderful World of Real Estate Sales.
My re-entry into the biz was prompted by a number of factors, one of which was an unintentional challenge by Loreena Yeo back in September. In a nut, she asked if I thought the early success I enjoyed in my real estate career, back in the mid-90's, was due more to the strength of the market, rather than the strength of my business strategy … (15 comments)
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sphere of influence: "Advertising" to Your Sphere of Influence (SOI)
- 03/23/08 03:00 AM
I've never had much (any?) luck with mass-advertising (newspapers, bus benches, SEO), at least, not that I could tell. One year I took out over $20,000 worth of newspaper ads which resulted in, get this, ZERO phone calls. Enough of that nonsense.
However, I'm starting to think about the effectiveness of "advertising" to your SOI. Here's where my brain is going.
I live in a trendy, hip neighborhood that has barely noticed the recent doom & gloom of the real estate market. People still want to live here and decent homes sell quickly. (Although there's plenty of overpriced crap on … (37 comments)
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sphere of influence: If You're Gonna SOI*... DON'T OVER-SYSTEMITIZE!
- 03/19/08 07:37 AM
We real estate agents love our systems, don't we? If we can purchase a product that will help us streamline our prospecting efforts, we're all for it. Where do I sign???
But... but... but... let me fly in the face of convention here and say... STOP! Stop with all the systems and programs and products!
Why? Because when pursuing business from the *Very Important People Who Know You (that is, your Sphere of Influence or SOI), it's kinda important to make them feel special. And no system, program or product is going to do that FOR you. You actually have to … (19 comments)
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sphere of influence: Marketing to Your Sphere of Influence? Don't You dare!
- 03/07/08 12:42 AM
In early 2007, I held my first teleseminar entitled "The Seduction of Your SOI."
Notice I didn't call the seminar "Successfully Marketing to Your SOI"or "Mastering the Art of SOI‑Marketing." In fact, I refuse to even use the term "marketing" in conjunction with the concept of pursuing business from the people who know you and know that you sell real estate.
Why? Because no one wants to be marketed to. I mean, c'mon, when was the last time you heard someone say "boy, I sure do like my accountant, he markets to me all the time"? When you "market" to someone, do … (14 comments)
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sphere of influence: The "Seduction" of Your Sphere of Influence... How Trying to Get Business is Kinda Like Trying to Get ... uh...
- 02/17/08 08:08 AM
A major fear of beginning an SOI* Seduction campaign is that your targets (that is, the people who know you) will see right through your attempts at friendship and know that you're trying to "seduce" them.
So, let's talk about Seduction for a moment. Even when I'm aware I'm being seduced, I certainly enjoy the ride. I mean, if my man were to come home tonight and outright announce he was expecting some action, I might be put off by his approach. I might feel a little used. However, if he came home with roses, gave me a big hug and kiss, helped … (36 comments)
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sphere of influence: My Dear Sphere of Influence, "Thanks, But I Don't Want Your "Loyalty!"
- 02/05/08 10:30 PM
One of my readers asked the question "How do you build loyalty with your customers or potential customers?"
Interesting question.
I don't. I don't want anyone's "loyalty." Oh, sure I'll take it, but to me, the word "loyalty" is on the same playing field as "obligation" which as I've said before is a Dirty Word When You SOI. I don't want anyone to feel obligated to be loyal to me!
I want to earn my business, and keep earning it. I want my customers to use me, hire me and refer me... then use me, hire me and refer me again... … (33 comments)
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Have you ever noticed (or is it just me) that the people you actually "market" to aren't the ones who actually respond? In my worlds (‘ritin' and real estate), I find that the bulk of my business comes from those who have not received any direct sales pitch from me. Either I'm a lousy sales-pitcher (very possible) or maybe (just maybe), people don't want to be sales pitched.
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