Selling Soulfully with Jennifer Allan

"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 do I have to go make all new ones?

Bill"

I get this question a lot! Mostly from new or newer agents who have been brainwashed into believing that an SOI (Sphere of Influence) business model means that they're supposed to drive their friends nutso with constant reminders of their love for referrals. Most tell me that:

1) they felt it was wrong, but were convinced to do it anyway, and/or
2) they've felt their friends pull away and suspect they're avoiding the agent's calls.

Oops. Not at all good for business OR your social life!

Here's what I tell these distressed agents.

There are a couple of things they can do. If it suits their personality, they can address it head-on with an apology letter - very sincere, not too sappy, but friendly & apologetic, with a "let's move on" tone. I'm not convinced this is the best line of attack, but it might be effective if done well.

Of course, then the agent needs to follow it up with action - he needs to BE a non-referral-begging friend who happens to be a real estate agent. Coffee dates, casual emails, dinner parties - whatever socializing feels comfortable with the various members of his SOI. Oh, and he doesn't mention his real estate career unless it's appropriate, but strives to come across as a happy, enthusiastic, reliable, dependable, generally cool person who is probably a fabulous real estate agent, as well.

If the apology letter doesn't feel right, then he can just make a concerted effort to reconnect with his SOI, as above, and if the opportunity arises and it feels appropriate, give a little apology in person.

The other thing he can do is strive to build his SOI by meeting new people and NEVER breathing a hint of referral-begging with them. He can meet new people thru his existing SOI and by being out there in the world with his antenna up. I consider my SOI strategy to be more about meeting people THRU my SOI, not necessarily generating business directly from the people I know.

Of course, the best approach is to not annoy one's friends in the first place, so that there's no need for apologies or redeeming one's dignity after the fact!

The SOI Starter Kit - Everything You Need to Implement Your Own Sphere of Influence Business Model
SOI Starter Kit

*SOI - Sphere of Influence = People Who Know You

I recently wrote about how the "numbers" of an SOI/Relationship Prospecting business model blows away the traditional concept of a "numbers game" in real estate sales. You can read about it here.

Not convinced? Here are some more numbers for you to ponder...

• If you attend ONE social event (wedding, housewarming party, Sunday BBQ) or neighborhood activity (street fair, festival, block party) per week, in a year, that's 52 opportunities you created for yourself to meet people who will have a real estate need in the next six months.
  
  
•  Of course, it's also an opportunity to touch all the people those new friends of yours know who might have a real estate need.

• If you take ONE friend to lunch per week (and don't bore him or her to death with your sales pitch), in a year, that's 52 GREAT opportunities to touch everyone your friends know. And that "everyone" can number in the thousands.

• If you add just ONE person per day to your SOI contact database, that's... holy cow... 365 new contacts in just a year.

• If you spend ONE hour per month writing an interesting, non-salesy email newsletter to send to your SOI (including all the NEW friends you're meeting), that's 1,800 times in a year you're touching someone who knows your name and knows that you sell real estate (assuming your contact database is around 150 names).  Let me know if you'd like a sample of "interesting and non-salesy."

Some more numbers - that is - dollars and cents...

The Cost to:

• Attend a social event you're invited to: $0
• Attend a neighborhood street fair:       $0 - $25
• Take-a-friend-to-lunch:                     $25 per week, if you pay every time 
• Meet one new person per day             $0 - ?? depending on how you meet them
• Once-a-month email to SOI:              $0 - $100 (if you spring for fancy email stationary)

If you do all these things, I promise your business will explode. And doesn't this stuff sound like MORE FUN than calling up 1,000 strangers or mailing out 1,000 postcards?

Geographic farming is a popular prospecting method where real estate agents choose a particular neighborhood in which to, shall we say, make their presence known. Typical farming activities include the mailing of postcards, the walking of streets and the painting of bus benches. The goal is to become a household name in the farm area, so that when anyone thinks of selling real estate, they race to their refrigerator, find the farmer's phone number from his fancy refrigerator magnet, and make the call.

Fair enough.

For years, I've advised new agents not to farm unless they're weighted down with way too much money and need to get rid of it efficiently. In my opinion, the only way farming is going to be effective is if you already HAVE a presence in the neighborhood - that is - you have For Sale signs around with your name on them! But that's just my opinion; I could be wrong.

And anyway, that's not the point of this blog, which I'll get to now.

In conjunction with my jump back into full time real estate sales, I've decided to FARM! But not with postcards, door hangers or advertising... No, I'm going to have way more fun (and spend way less money).

I specialize in Central Denver, specifically an area known as Northwest Denver. It's a trendy little spot near Downtown with parks and lakes and coffee shops and yoga studios. Lots of young singles & families, most with dogs.

That's where I live and, being a bit lazy, would really like to do all my business close to home!

The good news for me is that I have a lot of friends who live here, too.

So I'm planning to make my presence known in my favored ‘hood. I'll get my facials, my manicures, my haircuts and my massages here. I'll find a few nearby restaurants and make them my Cheers. My lawn service, my plumber and my dog-groomer will be my neighbors. If I advertise, it will be only in the local rags. If I'm invited to a social event in the ‘hood, I'll be sure to go. I'll show up at the First Friday Art Walk on Tennyson Street and the Highland Square Street Fair in June.

Will I show up with my salesman hat and I Love Referrals button? Uh, no. I'll show up as a local, a neighbor, as a generally nice gal... who happens to sell real estate for a living.

 www.sellwithsoul.com