A successful real estate business relies on a well-cultivated sphere of influence (SOI) for securing referrals and repeat business. SOI encompasses past and current clients, friends, family, colleagues, and other industry contacts. Nurturing this network is vital, as 66% of home sellers find agents through referrals. Agents must maintain frequent communication and engage in networking to remain prominent in clients' minds. Establishing genuine relationships is more effective than transactional approaches, leading to better business opportunities and growth within the real estate market.
Building a successful real estate business depends on cultivating strong relationships, as a sphere of influence (SOI) is critical for referrals and repeat business.
Your sphere includes past and current clients, friends, family, colleagues, and industry professionals, fostering ongoing relationships for business opportunities.
Continuous effort is required to stay connected with your SOI through regular communication and events, ensuring you remain top-of-mind for referrals.
According to NAR, 66% of home sellers found their agent through a referral or an agent they have previously used, emphasizing the importance of SOI.
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