How to build a better relationship with your SOI
When agents are asked about goals for the new year the answer is often, “… to grow my business” The challenge for most is identifying the source of this growth. The truth is the opportunity lies right in their hands – or if we’re getting technical – sphere of influence (SOI).
Stuart Sim, Vice President, Industry Development at Chime joined Tristan on a recent webinar to discuss how to Strengthen Your Sphere and Build a Better Relationship with your SOI Check out the full replay HERE.
With decades of industry experience, Stuart offered three key recommendations to help today’s agents successfully engage with and/or expand their SOI to grow the business.
1. Bolster Your Online Presence
Consumers are spending more and more time online, making an agent’s online presence critical for success. To capture the attention of online shoppers, Stuart recommends bolstering your IDX website, finding a way to make social media content relevant, and amplifying SEO to engage the *right* leads and expand the SOI.
Having a strong online presence is essential to capture net new leads but what about all those sitting patiently in your database? What are you doing online to engage this audience for future business? Probably not enough.
Stuart urges agents to make it a priority to connect with past clients on a regular basis to stay top of mind. Provide relevant information about the market or specific communities directly via email or text, and/or through social channels and your website to position yourself as a resource. Not only will this help grow your business but engaging happy clients will encourage them to offer positive testimonials online or serve as an advocate for your good work among your community.
2. Stay Relevant: Mine for Opportunity
Agents should consider current market conditions and how that impacts the way they interact with leads to increase success rates. Over the past two and half years, housing prices have gone through the roof, potentially putting past clients in a position to make new, unforeseen real estate investments. Without the resources to mine the sphere and uncover this insight, an agent will miss out on the chance to discuss possible new opportunities such as vacation and/or rental properties with past clients.
With a comprehensive CRM like Chime in place, agents can easily access this information to drive future transactions right from their existing database. Through extensive built-in automations, Chime eliminates the heavy lifting often associated with lead nurturing, and ensures agents stay focused on only the right leads, fueling the pipeline with new business opportunities and empowering agents to do what they do best – service their clients.
3. Relationships, Relationships, Relationships – Underpinned by Technology
Real estate is a relationship business. Strengthening your SOI is cornerstone to growth and Chime was purpose built to seamlessly enable ongoing connection with those that matter most. With automations built into the lead nurture process, Chime proactively delivers the resources needed like Smart Plans and retargeting programs to prompt agents’ activity and drive meaningful engagement.
Successful outreach is bolstered by including relevant market information and addressing key concerns like today’s high prices, low inventory, and rising interest rates. In doing so, agents have an opportunity to serve as a trusted partner, helping consumers navigate the inevitable ebb and flow of the real estate market. Technology enables this connection, setting the stage for long term success.
The bottom line is – technology can help agents strengthen and expand their SOI, but most agents are only using about 20% of the capabilities available. The most effective way to maximize an investment in a CRM is to spend the time to get educated on all the available features and functionalities designed to help regularly engage your database and empower more strategic agents. Working hand in hand with technology, agents expand the opportunity to better leverage their invaluable SOI to achieve those annual growth goals!
To listen to the full webinar, visit HERE.
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