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Grow Your Sphere of Influence

Success in any business relies more on word of mouth than anything. People trust referrals from people they already know well. But just like leads or agents, not all referrers are created equal. While it’s always good to build relationships with people who tell others about you, it’s best to build relations with people who will do this all the time. Your sphere of influence ?? and the success of your business ?? will grow exponentially if you can cultivate contacts who can influence many people to head your way.

Five Will Get You Ten

The basic idea behind building your sphere of influence is cultivating referral partners who will refer you to four or five others per month. If you had five of these kinds of referral partners, it’s not out of the question that you could get and close 10 deals a year. Now multiply that ?? say you had 10 such referral partners. Or 25. How many deals could these partners lead you to?

Know Your Influential Contacts

It may sound basic, but a lot of agents have no idea who their most influential reference partners actually are. They know they get referrals, but often do not keep track of who gave them the referral, or have no clue how often one person refers them. Keep track of your contacts and keep a record of who your most common referrers are. It doesn’t matter if you write it in a notebook or note it in Outlook, just keep a record of your biggest fans and be sure to take good care of them.

Build Your Own Sphere

You’re never going to meet anyone who wants your business to succeed more than you, so be your own influence dealer. Start with your affiliates in business. You’re a real estate professional ?? so who do you work with most? Title companies. Inspectors. Contractors. Mortgage professionals. Or what about the printers who make your cards or brochures? Affiliates can be some of the best referrers going.

Also, consider who you pay. If you’re paying someone, you’re helping that person’s business, right? So why not ask for a favor in return. Remind the people you do business with what you do for a living, and make sure they know that you can help them or anyone they know, if only they will tell others about you.

Pay Attention to List Building

Another piece of advice that almost sounds too obvious is another area many agents overlook ?? their databases. Far too many agents meet loads of new people and collect cards at networking events only to set the cards aside and go on meeting new people. Don’t just meet and greet and forget. Add new names to your database, and be diligent about keeping up with it. Whenever you meet someone who is the kind of prospect you’d want, add that person. After all, in real estate, success is built on referrals.

by | May 27, 2014 | Lead Generation

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