I recently asked the Agent Rise group what their “Top 5” sources are for acquiring leads. I was blown away because all but ONE person said that their sphere of influence was at the top of the list. This insight has established my whole trajectory for 2019 in what I want to accomplish in my own real estate business as well as the kind of content I want to bring to the Agent Rise Podcast in the coming year. Today I want to help you get a game plan for your sphere of influence so that you can take control of what’s driving your business.
I am still SHOCKED at the number of agents I talk to who still don’t have a database. A lot of us get caught up in the day to day noise and all the other “stuff” our business can generate rather than focus on the thing that’s actually driving our business. It’s the equivalent of polishing your car instead of fixing its busted transmission. No matter how much wax you put on it the car still won’t drive! Your sphere of influence will make or break you as a real estate agent and without it, you will crash and burn.
When deciding who to include in your database there are some very obvious choices. Clients past and present are among that group. However, there are some crucial people you need in your sphere that you are probably overlooking. Think of your database in terms of a wedding invite list. Your nearest and dearest can be huge lead generators because they are your biggest fans. Even if they don’t live in your area don’t count them out! My Aunt Barb has sent me five revenue-generating clients from a different state. Other overlooked additions to your database could be old classmates, neighbors, and even your podiatrist! The point is anyone you interact with could help you sell your next home.
Common real estate agents are the ones who spend all of this time and energy building a database only to do NOTHING with it. Seriously, why?! Going back to my car analogy, it’s time to put down the turtle wax and get your hands dirty doing the work that will drive your business. That beautiful database isn’t there just to take up space on an Excel spreadsheet. Make it work for you! Send out mailings. Invite people to client appreciation events. Shower your sphere of influence with gifts. If you love on the people who help make you successful I guarantee you will stay that way.
I get asked all the time about the number of people needed in a database to make it effective. Shooting from the hip I’d say 300 is a fairly healthy number, however, quality is far more important than quantity. 50 solid influencers are FAR more effective than 300 people you barely know. When I transitioned back to real estate sales I ended up gutting most of my database because a lot of my contacts weren’t worth the cost of postage for the mailers. I’m sure they were lovely people, but they weren’t MY people. They weren’t going to generate leads because I lacked the influence on them that would persuade them to exhibit influence for me. You have to be in their sphere in order for them to be in yours. The bottom line is don’t be afraid to take people out of your database just so you can have a bigger database. FInd your people and stick with them!
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