All of the top real estate agents we work with use these 5 tips to maximize the referrals and revenue they generate from their sphere of influence.
5 Ways To Use Your Sphere of Influence to Double Your Income:
Tip 1: Define and Rate your Sphere of Influence:
- When is the last time that you took a good look at your contact list? Do you have people you hardly know?
- Do you know who in your sphere is likely to refer to you? Start deleting the inappropriate ones.
- If you are unsure of how they may feel about you professionally - ask them this question: “If you were buying or selling property, do you have an agent that you would choose to help you?” If they say “yes” - consider deleting them. By keeping in touch with your sphere of influence, you’ll begin to find out who is an A,B, C, or D.
Tip 2: Give something of value to your “A”s and “B”s every 16 days.
In my years of coaching agents to double their incomes, I am amazed at the fact that their SOI rarely receive "information of value" regularly, if at all. Many never call and only mail invaluable items. I worked with a client recently who admitted that the material she was sending to her sphere was standard and boring. We brainstormed about items of value that would be interesting, fun and unique. What do you send to your sphere of influence? Is it something you would want to receive and find valuable? If so, then your sphere will like it too.
Tip 3: Overcome your blocks to calling your sphere:
Everyone I have ever worked with has resisted calling their top sphere often enough. They tell me things like
- “I don’t want them to think I want something from them.”
- “I’m afraid they won’t like me.”
- “I don’t want to be like a telemarketer.”
The list goes on, but I think you get the idea. You want to be their "Trusted Real Estate Advisor” by providing regular information of value. When givers give to other givers, they get back. If you send something of value, you are giving; when you chat with them and listen to what’s going on in their lives, you’re giving again. Then at the end of the call, say something like, “Who do you know who needs to sell or buy real estate so I can be their trusted adviser, as well?" Then say, “I’ll be happy to send referrals to your business, as well.” Guess what? You’re giving again.
After doing these calls monthly, you’ll begin to know your sphere of influence & which ones are your As, Bs, Cs and which ones to delete. Then you’ll be "Top of Mind" with them. You will probably get referrals in the first few weeks.
Tip 4: Be in the right mindset:
Don’t make these calls if you’re feeling anxious, upset or desperate. Remember, desperation doesn’t sell. Psych yourself up with the right mindset. Think of yourself as a giver and how happy they are going to be to hear from you.
Tip 5: Make it a daily ritual:
Just like brushing your teeth, prospecting is a daily essential. Call several times a day if you want your income to rise quickly and network with people every week.
Decide when to make your calls and keep at it until you’ve reached the people you were trying to call and you book appointments. Expect that several weeks after doing this,it will feel a lot easier. An extra perk is that you’re going to be deepening some great relationships and you’ll experience the same pleasure of calling them us as you would with a good friend.
Be aware of what's important to your sphere and give to them!
For help implementing any of the steps above, contact Certified Real Estate Coach Steve Gutstein for some free advice and inspiration!
Certified Real Estate Coach @ REIC