Your sphere of influence (SOI) is crucial to your success as a Realtor. Your SOI consists of people you know and who know you, including friends, family, colleagues, neighbors, and acquaintances. Nurturing these relationships is essential because it can lead to repeat business and referrals in the future. Let's dive into why it is vital to cultivate relationships with your SOI and how you can do it effectively.
Building genuine, authentic relationships with your SOI is a great way to develop trust. People are more likely to do business with someone they have confidence in and know personally. When you take the time to get to know people in your SOI and build genuine relationships with them, they will establish trust for you and be more likely to work with you in the future.
Staying Top of Mind
Regularly keeping in touch with your SOI ensures that you are always top of mind when they or someone they know needs a realtor. This can be achieved through email newsletters, social media posts, or even phone calls and texts. By staying top of mind, you are more likely to receive referrals and repeat business.
When you establish quality, genuine relationships with your SOI, they are more likely to work with you again. Repeat business is crucial because selling to an existing customer is much easier and less expensive than acquiring a new one. By nurturing your relationships with your SOI, you demonstrate your value as a realtor and trusted resource for all housing-industry-related news, and they will be more inclined to work with you again.
Referrals are another benefit of nurturing your SOI. When you build strong relationships with people in your SOI, they are more likely to refer you to their friends and family. Referrals are powerful because they originate from a trusted source and can lead to new clients without any additional marketing efforts on your part!
How to Nurture Relationships with Your SOI
Now that we've discussed why nurturing relationships with your SOI is meaningful, let's look at strategies to do it effectively.
Regular communication is vital to nurturing relationships with your SOI. You can do this through email newsletters, social media posts, phone calls, or texts. The key is to stay in touch without being pushy or intrusive! Find a communication style that works for you and your SOI, and stick with it.
When communicating with your SOI, make sure you are adding value. This could be through sharing industry news or market updates, helpful tips for homeowners, or even sharing interesting articles or stories. The more value you provide, the more likely people will engage with your content and remember you.
Personal touches can go a long way in building relationships with your SOI. This could be as simple as sending a birthday or holiday card or checking in on them occasionally. By showing that you care about them as individuals, you are more likely to build lasting relationships that lead to repeat business and referrals.
At the end of the day, nurturing relationships in your sphere of influence is critical to your long-term success as a real estate agent. By building trust and credibility, creating a loyal following, and generating new business opportunities, you can grow your business and establish yourself as a leader in your community. So, take the time to invest in REAL relationships with people, and be intentional with showing appreciation for them!