To double sales and referrals from your personal contacts, you must first know how consumers choose an agent. Here’s how they do…
If we want to help a real estate agent go after all of the sales in their sphere of influence that they are losing, the first thing that we look at—and that you really need to understand if you are going to do it yourself—is how a consumer actually chooses a real estate agent. Once you understand the psychology of homeowners then, at that point, you can actually do all of your real estate agent marketing based on your knowledge.
Through all of our years of testing what works in marketing for real estate agents, what we have found is that it really boils down to two things: Trust and top-of-mind. Trust is based on how much those in your sphere of influence trust you. This is not the same as, do they trust your integrity like, “I’ll leave my kids with you.” Instead, how much do they really trust you from a real estate perspective? Top-of-mind is simply, “How frequently are you there?”
Here’s how to figure out how many sales your real estate business is getting from your sphere of influence
Here is a simple formula. Let’s say you want to determine how many sales you are getting from your sphere of influence versus how many real estate leads you likely could get. It’s a simple mathematical formula. On a scale of 1 – 10, you take your trust level in that group of people and then, on the same scale, rate your top-of-mind. Let’s say your trust level is a 5 among your sphere of influence, but your top-of-mind happens to be a 3. Multiple those together and you have 15%. That means you are getting about 15%, or 1 out of 6, of all of the sales and real estate referrals that are coming out of that group of people you know in your sphere of influence.
The goal is to take your trust level to maybe a 9 and take your top-of-mind from a 3 to a 10. So now multiple 9 x 10 and you’ll get 90%. That means you now have 90% of all of the direct and referred business coming your way. That is how you do it. You have to get your trust level up and you have to get your top-of-mind up in order to maximize real estate referrals and sales in your sphere of influence.
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