Sphere of influence in real estate – the most important thing to do as a realtor when marketing to your SOI for seller leads
What’s the most important thing you can do in touching, or marketing, to your sphere of influence or personal contacts list? I think the most important thing, above everything else, is you’ve got to stay top-of-mind. Here is what happens. Someone says, “I’m thinking about selling my home, who do I call to be my realtor?” Whoever comes to their mind first is usually the real estate agent who gets the phone call. Or maybe you have two people sitting down to lunch. Sue is talking to Jill and says, “Hey, we are thinking about selling our home. Do you have any idea who we should use?” Jill responds, “Yes!” Whoever is top-of-mind is the one who is going to get to be Sue’s realtor. There are other things you can do, but the most important thing is to stay top-of-mind.
Most sellers will only recall a few realtors and if you are marketing to these sellers through real estate postcards you have a good chance they will remember and choose you as their real estate agent!
I want to tie this in with one quick study. In the 1980s, a book came out called Positioning by Al Ries and Jack Trout. It talks about how the average consumer can only remember two or three brands. I do a little test with our clients a lot. I ask them to think about toothpaste for a moment. If I were to ask how many brands of toothpaste come to mind, the average person gives me two brands. Every now and again I get three brands. Sometimes I only get one. This is why real estate branding is key to effective real estate marketing strategies.
Think about this. There are hundreds of brands of toothpaste on the market; the average realtor can only give me, on average, two. That means that if they are buying toothpaste, they are only going to buy one of those two brands. What this means on your end as a realtor is if you are trying to go after your personal contacts or sphere of influence list and there are hundreds of realtors out there that your contacts see all the time and they know handfuls of them, if you are not one of those real estate agents that comes to the top of their mind, you don’t even get a shot at the deal.
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