Property and Relocation Resources for Central Virginia and Beyond

The Secret to a Successful Sphere of Influence Business Model (published February 25, 2009)

RISMEDIA, February 25, 2009-The secret to running a successful SOI-based business is to be a great real estate agent who loves her job and knows her market and stays in touch with the people she knows, without ever pestering them for business or referrals.

That’s it! That’s the secret! To be a great real estate agent who loves her job and knows her market and stays in touch with the people she knows, without ever pestering them for business or referrals.

Let’s take these items one by one.

You’re a great real estate agent

This is huge. When I say that you need to be a great real estate agent, I don’t mean that you need to be a great real estate prospector, even though that’s what most of our training tends to imply. I mean that you take great care of your clients as your first priority, not as an afterthought when your prospecting is done. Doing business this way helps you on so many levels. First, obviously, you’ll have happy clients who will be delighted to refer you to everyone they know. Second and third, you’ll be proud of the work you do and confident in the work you do, which will lead to the second requirement…

You love your job

When you’re good at what you do and you know it, you’ll probably absolutely love your job. And that excitement and enthusiasm is contagious to those around you.

When you’re able to hold your head up high and announce that “I’m a real estate agent and it’s the coolest job in the world!” people will be drawn to you - as one agent I know puts it - they want some of what you’re smoking! When the topic of real estate comes up in a social setting and you’re able to say those magic words “I’m a real estate agent and it’s the coolest job in the world!” people will ask you for your business card. It’s beautiful. Which leads me to the third requirement…

You know your market

The best way I’ve found to build rapport with strangers is be master of your market. If you know your local real estate market, and you know you know your local real estate market, you’ll find opportunities to share that knowledge all over the place.

It’s amazing how much confidence this gives you and it’s pretty easy, to strike up a conversation with a total stranger about real estate… if you know what you’re talking about. You’d be surprised how many people will ask you for your business card if you sound like an expert. I get a lot of my business this way - not from prospecting to strangers, but just from being confident about my competence - a big part of which is a good understanding of my market.

So, for someone who needs to build an SOI from scratch, they need to spend some quality time learning their market and put themselves in social situations where they can share their knowledge with people who are interested.

You stay in touch with the people you know

This, of course, is really important. If you know a whole bunch of people, but you never make any effort to have a personal interaction with any of them (above and beyond drip campaigns), your sphere of influence efforts will crash and burn. To be someone’s favorite real estate agent, you either need to have done a fantastic job for them in the past (and stayed in touch) or make an effort to be in touch with them on a somewhat regular basis. Especially if someone hasn’t used your services before, it’s really easy for another agent to swoop in and take your place!

Just know that yes, if you intend to generate business and referrals from the people you know, you will need to take time to talk to them.

You never pester anyone for business or referrals

The last requirement is that you never pester the people you know or the people you meet for business or referrals. This is a tough pill to swallow for many agents. We’re trained to ask for business and to make sure that everyone we know and meet is aware that we are desperate for business. I know, that’s not what we say - but it’s how it comes across. When we constantly or even sporadically remind the people we know that We Love Referrals, we send a message that is counterproductive to our goal of actually generating referrals.

So? Are you a great agent… who loves your job…. and knows your market…. and stays in touch with the people you know without ever pestering them for business or referrals? Yeah? Then get off the computer and go SOI!

Commentary by Jennifer Allan

Our Mission: To effectively serve the public with an unwavering focus on the ideals of honesty, integrity and quality of service.

Our Vision: To be a leader among real estate brokerages by ensuring our clients receive the highest levels of personal service, attention and representation, and to remain their primary resource for real estate expertise and information for life.

Special Note: All information provided within this website is deemed reliable but is not guaranteed. Should you consider making real estate related decisions based solely on information contained herein, please contact TOP TIER PROPERTIES prior to acting on your final decision, and we will be happy verify and confirm any and all pertinent facts. Our agents pledge to only work in areas of real estate in which they have specific training and knowledge; so rest assured, if we give you an answer, it's going to be the right answer. If we don't immediately have that answer, we will always let you know and promptly work to either get the right answer directly from the appropriate expert or to personally place you in touch with the most reliable source.

Biography: We are Top Tier Realty, Inc., doing business as TOP TIER PROPERTIES. We are a professionally licensed, legal entity, which conducts real estate services throughout the Commonwealth of Virginia. Our areas of agency expertise include real estate sales, property management and consulting services in the Greater Metropolitan Richmond and Williamsburg Areas. Our firm is a member of the National Association of Realtors, the Virginia Association of Realtors, the Richmond Association of Realtors, the Williamsburg Area Association of Realtors, the Central Virginia Regional Multiple Listing Service and the Williamsburg Multiple Listing Service. Top Tier Properties' Realtors, Property Managers and Referral Agents include Licensed Virginia Brokers, Associate Brokers and Sales Agents with knowledge for handling both New Construction and Resale Properties, including Single-family Homes, Townhouses, Condominiums and Multi-family Duplexes, Triplexes and other Multi-Unit Properties, both Commercial and Residential, in the City of Richmond, the Counties of Henrico, Chesterfield, Hanover, Goochland, Powhatan, Louisa, Amelia, New Kent, Charles City and James City. Our Sales, Management and Consulting Territories extend in a radius of Metropolitan Richmond bound by Charlottesville to the West, Ashland to the North, Petersburg to the South and Colonial Williamsburg to the East. Top Tier Properties further specializes in real estate services to the City of Richmond's Areas 10, 20, 30, 50 and 60 (specifically the Fan, the Museum District, Ginter Park, Church Hill, Carytown, Westhampton, Oregon Hill, Stratford Hills, Westover Hills, Bellevue, Windsor Farms, Hermitage Park, the Riverside Drive corridor and the Near West End,) central and western Henrico County in Areas 22, 32 and 34 (specifically Upper and Lower Tuckahoe, Lakeside, the River Road corridor, Westham, Mooreland Farms, Sleepy Hollow, Twin Lakes, Roslyn Hills, Countryside, University Heights and the Innsbrook, Glen Allen and Short Pump areas, Winchester Green, The Colonies, Wyndham and "The West End",) Chesterfield County in Areas 54, 62 and 64 (Midlothian, Bon Air, Salisbury, Woodlake, Brandermill, Reed’s Landing, the Cherokee Road and Old Gun areas and the "Southside",) Hanover County in Areas 36 and 44 (specifically Atlee, Elmont, Mechanicsville, Pole Green, Battlefield Green, Cold Harbor, Ashcake, Rockville, Atlee Lake Estates, the Chickahominy and Virginia Center areas and the Town of Ashland, aka "the Center of the Universe",) and Goochland County in Area 24 (specifically the River Road corridor to Maidens, Manakin Sabot, Hermitage, Rockville, Oilville and Crozier.) So remember, whether you are buying a home, renting a property or selling your house...
When You’re Ready to Move, We Can Help!

All Information Copyright Top Tier Properties © 2005-2010 All Rights Reserved