Selling Soulfully with Jennifer Allan

head_left_image

SOI 105 - The Four Branches of Your Sphere of Influence

Been doing a little private SOI (Sphere of Influence) tutoring with some local Denver agents. Yesterday, as I was working with one of my students, she asked me a question that got me thinking (I love that). She asked "So, my goal is to expand my Sphere of Influence database to a certain number by the end of the year?"

Well, sorta. At least, that's probably one of your goals. But as I answered her question I realized that there are really four different branches of an SOI business model, thus four different "goals" to shoot for as you build your SOI model.

Here are the four branches:

  1. Your Direct SOI - that is - the people you know
  2. Your Indirect SOI - that is - the people your SOI knows (i.e. referrals)
  3. Your Third Generation SOI - that is - the people you meet via your SOI
  4. Everyone Else - that is - every single person you encounter in your day-to-day wanderingsbranch

Your Direct SOI
These are the people who know you and know you sell real estate. It's made up of your Group One (your social network) and your Group Two (those people you know that you don't socialize with). You should try to have at least 200 warm bodies there; of course, more is better, but they don't "count" if the person wouldn't recognize your name off the bat. These are people who KNOW you, even if they aren't your best friends.

You'll get business from your Direct SOI, but it probably won't be your primary source of closings. Most of aren't blessed with an SOI who buys and sells houses on a regular basis!

Your Indirect SOI
These are the people your Direct SOI refers to you, who, of course, will be added to your Direct SOI once you've met. Your Indirect SOI should be a fairly consistent source of business for you, assuming your Direct SOI thinks a lot of you, and they know how to find you.

Your Third Generation SOI
These are the people you serendipitously meet as a result of your existing personal relationships. For example, back in 1996, I met my second and third clients ever at the wedding of a mutual friend. I met another client at a Pride parade I attended with my GLBT friends. Another at a Super Bowl party. Stuff like that. This can be an enormous source of business for you, if you're often out there in the world with a smile on your face and your antenna up, and can speak intelligently about your local real estate market to anyone who's interested (and please don't bore those who aren't!)

Everyone Else
These are the people you run into during your daily travels. Every single person you meet, every day, has the potential to be the newest member of your Direct SOI. Not all will, of course, but you never know who will end up being your biggest fan. It might be that young couple who stumbled into your Open House who had a child the same age as yours. Or that woman standing next to you at Ace Hardware getting a key made, who casually mentions she just moved to town. That guy you meet at the dog park. Your neighbor three doors down who is looking for his lost cat. The woman who calls you off your Craigslist ad to purchase your roller blades.

Again, HUGE potential with this category - if not today, then next month or next year.

So, looking at the four branches... how can you incorporate these four categories into your SOI-building goals & activities?

 

sws

 

 

www.SellwithSoul.com

 

 

 

SOI 101: What exactly is an SOI business model?
SOI 102: The SECRET to Successful SOI
SOI 103: My daughter's best friend's parents just hired someone else!
SOI 104: I think I've blown it with my SOI

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 16 commentsJennifer Allan-Hagedorn • February 25 2009 07:30AM
SOI 105 - The Four Branches of Your Sphere of Influence
share
Been doing a little private SOI (Sphere of Influence) tutoring with some local Denver agents. Yesterday, as I was working with one of my students, she asked me a question that got me thinking (I love that). She asked "So, my goal is to expand… more
The Persuasive CMA - Part Deux - The Q&A
share
As about 1, 000 of you know, last month we held an online teleconference called "Pricing it Right with a Persuasive CMA" that by all accounts - was a fabulous show. So, as promised, we're getting together again to further discuss the Art of… more
REALTOR Moms… How Do You DO it?
share
First, allow me to say that I have no children, never have, never will. I'm far too selfish with my time, so I'm in awe of all of y'all who so unselfishly devote your lives to your kiddos, and of course, I'm terribly grateful to my wonderful mother… more
Workin' on the (Holiday) Weekend?
share
Many many moons ago, when I was still in Corporate America, I remember a young woman in my office complaining "it wasn't fair" that in order to reach the boardroom (i. e. be the CEO or president of the company), you had to be willing to… more
"I'm Jennifer & I'm a Short Sale Idiot".. are you?
share
Okay, I can admit it. I don't know much about short sales. I know more than I did six months ago because I listed one (that never sold even though I had an offer) and I wrote an offer on a short sale a few weeks ago (to which the agent hasn't… more
SOI 104: "I Think I've Blown it with my Sphere of Influence. Can…
share
"Dear Jennifer, I've been reading your blogs about SOI and my heart is sinking. I think I've blown it with my Sphere of Influence by constantly asking them for business and referrals. Is there a way I can redeem myself with my friends, or… more
SOI 103 - "My Daughter's Best Friend's Parents Just hired…
share
"Dear Jennifer, Got up this morning and saw that my daughter's best friend's parents listed with someone else! They've been on my mailing list and their daughter and my daughter have been best friends since grade school. I'm crushed… more
Denver Agents (& anyone else who wants to listen in) - How Did we…
share
I've sold real estate in Denver since 1996. Until I started participating in forums like ActiveRain, I never realized how different every market is with regard to customs, services provided & legal issues. For example, in some markets (even big… more
SOI 102 - The SECRET to a Successful Real Estate Sphere of Influence…
share
Thanks for the Gold Star yesterday for my first SOI 101 AR Gods! So, to continue the message, here's SOI 101 Lesson #2 - The SECRET to running a successful SOI business model. Sphere of Influence = The People Who Know You. Here 't'is… more
SOI 101 - What Exactly is an SOI (Sphere of Influence) Business Model…
share
A Sphere of Influence business model is a strategy that focuses on attracting business to you from the people you know and the people you meet socially, as opposed to pursuing business from strangers. It's possible to run a 100% SOI business and… more