What if working with just 10 people could prompt you to close and additional 20 transactions a year? Does this sound like it is impossible? Well, it’s not. You just need to revisit your sphere of influence. You need to know who your “Golden Geese” are!
Do you remember the fairy tale of the golden goose? While it is a story about greed, the main character comes across a goose that produces eggs of pure gold. So the question is, who is your sphere provides you with leads (“pure gold”)?
Think about it. If you have 10 really good clients (“golden geese”) who refer you to two people a year, and half of those transactions actually close, you would have 20 deals in a year. Your sphere of influence is—without a doubt—the best source of business for real estate agents. For those who are not good at keeping the lines of communication open after closing, the list can also be the source that is easily neglected.
Here are 5 ways to sustain and grow your sphere of influence:
- Keep track of your sphere.
This seems like a “no-brainer,” but you would not believe the number of people who do not have one system for tracking their sphere. There are super simple systems and database programs that can help. Develop a system and review your list monthly to make sure you’ve added new people you’ve met and updated information when people close a transaction.
- Identify your golden geese.
Your golden geese are your “raving fans.” They are the people who, without blinking twice, immediately tell their friends to call you to buy or sell real estate. Once you identify them, make sure to “take care of them.” Gifts, pop-bys, phone calls, breaking bread are great ways to keep in touch.
- Who do you pay?
Every company or person you write pay is someone who should be on your sphere of influence list. Your landscaper, your accountant, your manicurist… there are too many to mention. After all, you are helping their business to succeed, why wouldn’t you want to ask them to help your business succeed?
- Meet new people.
If you’re wondering where you might meet new people to add to your sphere of influence list, consider some of these ideas: a) volunteer on a regular basis in the community or at a school, b) attend a networking event, c) visit new businesses in the community to welcome them to our area, d) join a service organization, or e) attend a training/educational event.
- Get info and add it to your list.
When you meet someone, ensure you have all of their pertinent information to add to your database list. And then, add them! So many people encounter prospects or new contacts and don’t take the time to add them to their list. Business is lost this way.
Working with people who already know, trust and like you is a great way to succeed in real estate sales. The bottom line reason we want to work with people who know, trust and like us is because they refer others to us for business. A strong database is the key to a long-lasting referral-based business.