It’s real estate basics: 60% of your business comes from people you know — your sphere of influence. Your neighbors. Your book club members. Your past clients. Your agent friends.
And whether you are a rookie agent or a seasoned veteran, these relationships are your bread and butter for referrals and repeat business. But interestingly, not every real estate agent defines their sphere the same way. We looked at four distinctive perspectives on sphere of influence — and the personalities that go along with them.
The ‘all inclusive’ agent
Ask this agent who is in her sphere and she’ll tell you, “Everyone I know!” This is the agent who will meet you once and *poof* you’re on her newsletter list. She’s a hard core business card keeper, and wants a contact list the size of the Manhattan phone book. (Boy, remember phone books?)
The ‘inner sanctum’ agent
This agent is the opposite of the previous. For this agent, his sphere is small and closely-guarded. Only his closest contacts gain admission — maybe a baker’s dozen, tops. They are probably his longest relationships, too, carried over through years of business dealings. And most of his business comes from these core contacts.
The ‘bucket list’ agent
For this agent, it’s not about “100 things to do before you die” but more about sorting each contact into an appropriate category. The different buckets often connect directly to the social circles in which he knows each person: neighborhood association, poker group, fellow agents, service providers and the like.
The ‘bullseye’ agent
This agent has at least three spheres of influence, ranked by importance. Her outer sphere is made up of people she knows, but would like to know better. These are folks she’s met casually or professionally. They know her name, but might not yet think of her as a real estate expert. The middle circle is made up of closer contacts — people who may have worked her on real estate deals. The inner circle are the agent’s ambassadors — they will pick up the phone when she calls and sing her praises when asked. And her focus is on moving folks into the bullseye.
Staying in touch your sphere and nurturing those relationships takes time, but can’t take all your time. Next up: how real estate agents can effectively nurture their sphere of influence and still run a business!