Selling Soulfully with Jennifer Allan

head_left_image

SOI Gone Bad -- 21 Ways to Blow it with Your Sphere of Influence

I love SOI*. It's my thing... it's my passion. I think every self-employed salesperson oughta include a little SOI soiin their arsenal. Or a lot. During my real estate days, my business was nearly 100% SOI with a few random floor calls, walk-ins and web leads tossed in as gravy.

But if you're gonna SOI, you better do it right! Not everyone does. In fact, most don't. Not because they're stupid or incompetent or insensitive, not at all! Rather, because most salespeople have never been shown the right way to do it. When done right, an SOI business model actually changes the way the salesperson views his business ... and his world.

Most experienced real estate salespeople claim to embrace an SOI philosophy. They support the idea of generating business and referrals from the people they know. But the reality is that the vast majority of real estate agents fail miserably in their SOI efforts. Even worse, they manage to alienate many of their friends and family members along the way!

And then they proclaim that "SOI is a lousy way to run a business!"

Well, they're wrong. And, they're right. They're wrong that an SOI strategy is a poor business model, but they're right that it was a lousy business model for them. Because they didn't understand how to do it right.

If you're gonna SOI, you better do it right. If you're gonna do it wrong, don't do it at all. The personal relationships in your life are far too important to risk!

21 Ways to Blow it with Your SOI

  1. Ask a friend to lunch and give her your sales pitch (every time)
  2. Call your friends on the first Monday of every month and ask if they have any referrals for you.
  3. If they don't, ask them why not.
  4. Angrily (or tearfully) confront your friends and family if they use another real estate agent
  5. Take on business you aren't qualified to handle
  6. Send your friends weekly emailed newsletters of your listings
  7. Blow off your friend's housewarming party, but expect her to be loyal to you
  8. Attend your friend's housewarming party and sales-pitch everyone to death
  9. Tell everyone you know how lousy the real estate market is
  10. Tell everyone you know how overwhelmed you are
  11. Tell everyone you know how depressed you are about your real estate business
  12. Send out an announcement letter with typo's and misspellings
  13. Send your friends frequent "forward this on for good luck or else" mass emails
  14. Pepper your language with four-letter words
  15. Borrow money or books or tools or whatever and don't return them in a timely manner
  16. Don't return social phone calls or RSVP's
  17. Try to hijack referral fees from your family's pre-existing real estate relationships
  18. Ignore your SOI in favor of mass-advertising projects (then get your feelings hurt when they use someone else)
  19. Contact your friends only when you're looking for business
  20. Offer bribes to your friends for referrals
  21. Sell real estate "on the side"

*An "SOI" (sphere of influence) business strategy means to generate business and referrals from the people who know you.

To Read About "Doing SOI Right", check out these blogs:
The Jake Series
Are You Tired of Pestering Strangers for Business?
What's the Best Way to Ask for Referrals? Don't.
SOI and the Single Gal

www.sellwithsoul.com

 

It's Here!

 

The More Fun You Have Selling Real Estate, the More Real Estate You Will Sell! 
(True Story)
Order Your Here!

 

 

 

 

 

 

 

 

Comment balloon 30 commentsJennifer Allan-Hagedorn • October 27 2007 10:13AM
SOI Gone Bad -- 21 Ways to Blow it with Your Sphere of Influence
share
I love SOI*. It's my thing… it's my passion. I think every self-employed salesperson oughta include a little SOI in their arsenal. Or a lot During my real estate days, my business was nearly 100% SOI with a few random floor calls, walk-ins and… more
Myth #6: Real Estate is a Team Sport
share
(Material excerpted* from Sell with Soul : The New Agent's Guide to an Extraordinary Career in Real Estate ) MYTH #6: Real Estate Is a Team Sport Real estate is an individual sport. Period. No one in your office or corporate headquarters cares much… more
Myths #4 and #5: Your Job Description & Hours of Operation
share
(Material excerpted* from Sell with Soul : The New Agent's Guide to an Extraordinary Career in Real Estate) MYTH #4: Your Job is to Drive Buyers Around and Hold Open Houses Because these are the most visible activities of a real estate agent,… more
Real Estate Myth #3: You Have to Pester (er, cold call) Strangers to…
share
MYTH #3: You Have to Pester (er, Cold Call) Strangers to Build a Successful Business Some people have it, some don't. The desire and willingness to cold call, door knock and network, that is. I'll bet many competent future real estate agents… more
My Friday SOI Success Story
share
I had a little SOI* fun yesterday. Didn't mean to, just worked out that way. I have a rental property in Denver that needs.. well… a renter. I no longer live in Denver, so it's kinda inconvenient for me to show the place. But I don't want… more
Myth #2: Your Love of Houses Will Make You a Successful Real Estate…
share
To Read Myth #1, "Your Love of People Will Make you a Successful Real Estate Agent, " Click Here Your Love of Houses Will Make You a Successful Real Estate Agent (excerpted from Sell with Soul: The New Agent's Guide to an Extraordinary… more
What if…?
share
What if… Your accountant prepared your taxes using last year's rules? Your physician treated your arthritis with an expired prescription? Your painter painted your house using 5-year old paint? Your child's… more
Real Estate Agents: Get Good… or Get Out
share
Yep, that means exactly what you think it means. If you are not a good real estate agent, get out of the business now before you spend one more dime or dollar on your personal marketing or MLS dues. Give your overpriced listings to someone else who… more
Real Estate Myth #1: Your Love of People Will Make You Successful
share
MYTH #1 Your Love of People Will Make You a Successful Real Estate Agent (excerpted* from Sell with Soul ) "She's not the friendliest person in the world, but she gets the job done" is how one of my biggest clients… more
The 7 Myths of a Career in Real Estate
share
As promised in a recent post, my next several blogs will be excerpts from the 2nd edition of my book, Sell with Soul FOR ROOKIES ONLY : The New Agent's Guide to an Extraordinary Career in Real Estate due to be released in early 2008. Your comments… more