If you’re trying to build a professional real estate business, SOI is one of the essential things. Your sphere of influence (SOI) is built from people who look to you for advice and resources in their lives. While this may sound like something you already have, think again: your SOI changes over time.
The article explains what that means and how best to use your growing network as a source for leads and referrals.
The Basics Of An SOI
A sphere of influence is a group of people that you can influence. Regarding real estate, your influence will consist of family, friends, and acquaintances in the market for selling or buying property.
When you’re thinking about building your SOI, it’s important to consider the following:
- What type of people do you want to reach?
- What value can you provide them?
Once you’ve answered these questions, it’s time to build your network.
Why You Need To Start Thinking About Your SOI
The SOI is a group of people that you can influence. It also includes people whose businesses or professions are closely related to real estate, such as mortgage brokers, home inspectors, and title companies.
Your influence will be considerably more significant if you incorporate social media into your business plan. The more you are on social media; the larger your sphere becomes because it becomes easier for others to find out about what you do and who they should contact when they have questions about selling or buying a home.
Your SOI Is Always Growing
Your influence is constantly growing. You must keep track of who you know and how far their reach is. You need to keep a record of what other resources are available for you to draw from when necessary, like a network of real estate professionals or friends who can help with moving or repairs around the house.
Your SOI Will Always Is Your Best Source of Leads:
Your SOI is your real estate business’s most important source of leads. The first step to building a solid influence is identifying the people in your life who can help you reach your goals. You feel comfortable asking these people in your life for referrals, and they’re willing to give them out.
If you have a vital SOI, you can leverage it to generate more business than any other method available to real estate agents today.
How To Connect With Your SOI?
To effectively use your SOI, you must stay in touch with the people who can help you. You want to make sure that your influence knows how much you value their input and help:
- Keep in contact with them. Don’t wait for an annual holiday card or birthday message from each person in your network—make sure they know what’s going on with you by keeping in touch regularly. Through email or phone calls, share information about jobs (e.g., if a colleague is promoted), business deals (if one of your friends starts a company), and personal successes (e.g., when something new happens at home).
- Make yourself available to help out whenever possible without being overbearing; this will reinforce the trust between both parties while also ensuring they don’t forget who is providing support when needed most!
Conclusion:
Your sphere of influence is a unique group of people who have the potential to become your clients. You must know who they are and how they can help you grow your business.
