Increasing your real estate income is one of the most important things you can do to build your business. However, one must understand how to improve their real estate SOI to effectively grow a profitable client base and have a solid foundation for future success.
To help get started with building up a sphere of influence, the article has put together some helpful tips for growing your network and getting more clients
Expanding your sphere of influence
Building up your sphere of influence is one of the most important steps to increasing your real estate income. A sphere of influence is all the people who know and trust you. You can grow this by networking and building trust with the people around you.
Start by joining local groups or clubs focusing on real estate and business development topics to expand your sphere.
In the next step, ensure each member knows what services your company offers (for example, mortgage loans). Make sure that everyone understands why it’s essential for them to work with someone with vast knowledge about mortgage loans. Only qualified professionals can provide high-quality services that will make them happy customers forever!
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Having a clear purpose
You can’t build a real estate SOI (sphere of influence) if you don’t know why you’re doing it. It’s not enough to be desperate for more clients or sales. It would help if you had clarity around what this means regarding your life goals and how it will benefit you.
So before you get started on any of the activities below, take some time and think about why you’re doing this exercise.
Ways to expand the sphere of influence
- Network with other real estate agents in your area. If you’re a real estate agent in any part of the world, make it a point to meet and get to know other agents who work in the same city. You can attend local real estate agent events and join local associations, such as the National Association of Realtors (NAR). The NAR has over 1 million members nationwide, so there are plenty of opportunities to network with other real estate professionals.
- Get involved in the community. Many people in your community would love to buy or sell a home but don’t know how to go about it. If you can help them by buying or selling their home, you will have helped them expand their sphere of influence within your community.
- Keep up with technological advancements in real estate technology. Technology is constantly improving, and if you want to stay ahead of the curve in your field, then you must stay on top of all these changes so that you can use them to improve your business practices and expand your sphere of influence!
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Tracking your results
Tracking your progress will help you keep track of the work that needs to be done and can also help motivate you when things get tough.
There are many different ways to track the results of your marketing efforts. You can use Google Analytics (free) or other platforms like HubSpot’s Marketing Grader (paid). The point is not necessarily how exactly you do this tracking—the important thing is understanding how to measure and analyze data so that you know what works and what doesn’t work as far as increasing traffic or leads goes.
The hope is that this post has helped to learn how to increase one’s real estate income by building a real estate SOI. The key is to have an action plan and then put it into practice. If that whole team puts their heads together and works towards the same goal – increasing sales – they can all succeed!
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