Success in the real estate business depends on the influence one has. The more involved one is in building the relationship, the more success one experiences. A sphere of influence in real estate is about nurturing the inner circle that one has and conversing with them frequently. This is true for the real estate business because the transaction values are high, and trust plays a critical factor in any sale.
Superfans by Pat Flynn is an excellent read to understand how to build followers and how to build influence. The traditional way of thinking about sales conversion is to think of it as a sales funnel. Classify it as hot prospects, medium prospects, etc. But, it is archaic and is a slow process. In the age of social media, following the traditional way is not advisable.
Think of all the touch points the agents can have. It could be relatives, friends, well-wishers, old colleagues, old clients, or even acquaintances from related businesses like insurance agents/bank staff. One can quickly think of some 10-15 close touch points with whom they can build trust and relationships. So, unlike the traditional funnel, this is like a hub-and-spoke model. Where the agent is the hub, each member in the inner circle is the spoke. And, each member has connections/acquaintances, which naturally form the second degree connect.
Hence, keeping the close advocates engaged and focusing the maximum energy here is essential. Here are the tips for building a sphere of influence real estate.
Social media – One can’t ignore social media. Planning the type of social media campaign can be decided based on the persona, but it is not wise to ignore it. Making the interactions conversation-like is a skill. Using it effectively on social media is much needed. People don’t have time, and conversing with them is difficult. Thus, a post on Facebook/Twitter/LinkedIn would be pretty effective in keeping in touch with them. Posts could be planned, and if executed well, they could be accommodating. Consider a meager two daily posts leading to 730 conversations a year. No doubt, social media is pretty amazing.
Referrals – Maintaining a close circle of people who can refer is essential. Sending them postcards on any listings could be helpful. One can even think of rewarding successful referrals. But, this is one efficient way to grow the network.
Community events – Community is important because there are like-minded people. One can quickly get information about the market, any new Government legislation, etc., at an event. So, creating an influence is easy at public events.
Keeping in touch with old clients – Sale is never transactional. Referral from old clients is helpful because it is not just based on trust but on the experience of working together. Nothing could match this influence.
Email Newsletter – Newsletters help keep the connections engaged. It could have valuable tips related to the industry, any attractive listing, etc. One can also do data analytics on this basis of clicking, time spent per view, etc., and improve on it.
Blogs – Blogs are for the generic audience, not just clients. Someone brought to the page through any source can judge the service based on the blog content. This can help in top-of-funnel leads as well.
Gifts – Gifts sent to the inner circle on special occasions would be beneficial in building trust. A relationship is made based on small interactions. And, there is no better way than gifting on special occasions.
These are tips to grow the sphere of influence in real estate. There are numerous ways one could be successful at it. It doesn’t matter if you are a team of real estate agents or individuals. You must ace your direct mailing capacity in various sizes and at affordable prices. One should consider tying up with a retailer to scale up the capacity of sending postcards to prospective clients.
