Are you getting an ROI from Your Sphere of Influence?
We call agents who strive to go beyond the average to achieve mega-success “Rainmakers.” This series shares some of the tactics and strategies Rainmakers use to up their game.
When it comes to your SOI, there is a formula that can ensure you cash in on your SOI.
Let’s assume that your average gross commission is $7,500. What if there was a way to get 43 additional transactions for an additional $332,000 in commissions? You would go for that, right?
By following the five-step process outlined below, you can achieve these results just like so many other rainmaking agents have done already. We base the five-step process on the Ultimate Listing Machine Master Course. If you use the course to follow the process, you will get a downloadable workbook and other resources to make it easier.
The five steps for success:
- Database consolidation
- Database detox
- Partner with data providers
- Database ranking
- Use automated follow-up
The ULM five-step process is simple and powerful, but it’s not easy because it takes discipline. So, if you have the discipline to do it, then it won’t take a lot of specialized talents or skills. I like to give credit where credit is due. Part of what I do as a lead conversion expert in the industry is to look for other knowledgeable people who have a great message to share with our audience. In fact, part of the mission of Real Insider Pro, a division of RAP Success Systems, is to aggregate the best practices of marketers, influencers, top coaches, and mega agents to bring those proven insights to any agents who want to grow their practice.
For this article, I’ve used valuable information from the book “SOI: Building a Real Estate Agent’s Sphere of Influence” by Brian Icenhower. It’s an awesome book that I recommend you read. In one chapter, Icenhower discusses how you can predict your income by working your SOI correctly, reduce lead-acquisition costs, and increase profits. The best part is that the concepts he shares work very well with the technology used by RAP Success Systems.
Imagine that you have 300 contacts in your SOI (you may actually have more or fewer).
I start with 300 because any agent over 20 years old should have at least that many.
If you don’t have that many for some reason, I encourage you to get Brian’s book because there’s a whole chapter dedicated to building an SOI.
One of my business consultants, Patrick Fenton, trains and coaches what he calls “the advocacy system,” you can check that out at one of our Crush It Events at crushitevent.com.
Now, with your 300+ SOI database, how do you get an additional 43 transactions and $332,000 more in commissions without spending a lot of extra money on marketing?
Watch the rest of the video here to find out or even better; you can get my book, “Tthe Ultimate Listing Machine Prospecting Playbook” on Amazon. The ULM Prospecting Playbook book has all the scripts you will ever need. These resources contain very powerful and important training folks, so I hope you follow through on it. If you do, I promise that you will have a great 2020!