Whether you’re a new or seasoned agent, your referral business is a crucial part of the job. However, you can only get referrals if you reach out to the people in your sphere of influence. That is, those within your sphere of influence need to know that you own a successful real estate business through routine communication. But first things first – you have to get your contacts in order and apply good practices for reaching out.
How Can Your Sphere of Influence Help You In Real Estate?
Your sphere of influence is a network of people you know on one level or another. Think of it like LinkedIn – you have first, second and third tier connections.
Your first tier connections are those you know personally, such as a spouse or family member. A second tier connection could be a colleague and a third tier connection might be a neighbor or acquaintance.
Why are these people important to your real estate business? Because they all offer some kind of opportunity related to real estate. Someone in your sphere of influence could be moving or know someone who is moving; your network therefore offers an infinite amount of referral business.
Most agents know how important their sphere of influence is, but few are using it to their full advantage.
Who’s In Your Sphere of Influence?
- Close family members
- Close friends
- Extended family
You should also consider your children’s teachers and your spouse’s friends.
How to Quickly Organize Your Sphere of Influence
The simplest way to get your contacts organized is to put them into a spreadsheet. Then you can start organizing by what level of connection they are to you: first, second or third.
It might be odd to assign a numerical value to these people in your life, but it’s just a method for understanding your influence on these individuals and how likely they are to refer you to others.
Include any and all contact info you have for each person in your sphere of influence. Scour Gmail, Yahoo, Outlook, Facebook, LinkedIn – anything you can think of to collect both email and postal addresses.
The Best Ways to Connect With Your Sphere of Influence
The initial outreach can be a bit daunting, but realize that this is a much bigger deal to you than it is to them.
Your first outreach to someone in your sphere of influence should be to ask them to subscribe to your real estate newsletter. If you don’t already have one, watch this video about how to get started with e-newsletters from HomeActions.
If you already have some people’s emails, don’t automatically sign them up – ask first, and make sure you reach out to the people in your sphere of influence in a way that feels natural. Don’t email your sister if you talk on the phone with her every day – give her a call!
If you grab coffee with a certain co-worker every day, simply ask if they want to join your e-newsletter mailing list.
How To Ask For Referrals
When you ask someone in your sphere of influence for a referral, mention a recent article in your e-newsletter about home prices, for example, and ask some of your contacts if they know anyone who is moving and might be interested in current low home prices in your area.
Visit HomeActions.net today to start connecting on a regular basis with your real estate contacts and improving your real estate business.