True story: Dave Conklin, one of our co-founders, ran into his cousin and his wife a few years ago. They told Dave how they were so excited because they just bought a house and they were having all kinds of fun decorating it, rearranging furniture, etc. Well Dave, being an agent, nearly keeled over when he realized that his own COUSIN didn’t call him to use him as a real estate agent. Why didn’t his cousin call him? Because he had totally forgotten Dave was in real estate. Oops. Because Dave wasn’t REGULARLY marketing and following up with his sphere of influence, he missed out on $5700 commission. (Hey, we all make mistakes!)

Think about all the people you meet if your family has an annual family reunion including aunts, uncles, cousins, third cousins twice removed, etc. Now try and remember what each of those people do for a living. You just can’t, and yet you probably assume they’ll remember that you’re a real estate agent because people generally tend to think it’s all about “me, me, me.” But it’s not! That is why it’s SO important to send out regular mailings (whether postal or email) to remind your sphere of influence who you are and what you do.

But first things first: identifying your sphere of influence. Easy enough – how about EVERY SINGLE PERSON YOU’VE MET IN YOUR LIFE. That can mean family, friends, acquaintances, the waitress that regularly serves you coffee, your dry cleaner, your son’s football coach, just absolutely EVERYONE. Even the leads you collect through other means (buying them, marketing to them, etc) are all considered a part of your sphere of influence. The term ‘pipeline’ is sometimes used interchangeably with sphere of influence, and while they walk hand in hand, they’re not exactly the same. You pipeline is anyone you are currently in constant contact with (follow up) by phone, email drip campaign, etc. Your sphere of influence is your source for contacts you add to your pipeline – you may not have begun making regular contact with everyone in your sphere of influence. To keep it simple, we will use the terms almost interchangeably, since they are so similar.

Whenever you meet someone face to face, hand them your business card and ask for theirs in return. If they don’t have one, ask them for their email address, letting them know you have a great hook-up for coupons at local businesses and you like to share the wealth by emailing them to your friends and family.

You should have as much contact information on the people in your sphere as possible. That way you can call them regularly (at least once a week if they’re looking to do something soon or once or twice a month if they’re more long term prospects). Whether you’re calling with information, emailing them updates on homes that sold in the area, or dropping off a packet of information for them, it is important to farm your sphere of influence regularly to remind them you’re in real estate and willing to help with whatever needs they have.

Recommendation: Send out a 4-6 page QUARTERLY newsletter using 11×17 paper folded in half. You can have a designer create a design, or use pre-made templates available with various computer programs, or even design one yourself if you know how to. You then want to separate your sphere into local and non-local people and do the same with the newsletter. Why non local? Well, if you’re collecting non-local leads (which tend to be friends and family living out of state), you’ve got a great Agent Finder service you offer for free.

Tell them “I know you and you know me, so I have an idea of what you need in an agent. I’ll scan your market and find you the BEST agent to work with in the area.” Then you make a few calls, find a great agent, and refer the lead to them for a 25% commission. The rest of the newsletter can be made up of useful information that can be used in both newsletters. You can even include a quick market report for the lead, letting them know homes that sold in their area, what they sold for, etc – you can get information like that on Trulia.com.

With the local newsletter you can go into MUCH more detail, since it’s your area of expertise. Include a market update (is it good, bad, is it mostly sellers, etc), list homes in the area for sale, homes that have already sold and what they went for, etc. To be even more detailed and effective, you can structure the newsletter by zip code and send leads specific market information for THEIR zip.

You can also include everyday information, such as school reports and crime statistics. Offer them useful articles educating them on real estate and coupons they can cut out and call you for a free home evaluation. Tell them you’ve got a free service that will send them updates as properties fitting their criteria go on the market or are sold. Even begin to include more personal information, perhaps a letter to your readers outlining how things are going with you, what your kids are up to, etc. This will build even more rapport with your readers, and make them feel as if they know you personally.

This type of newsletter is filled with useful information for the homeowner and it really starts to build up trust and rapport with your leads. Let your leads get to know you, make them love you and your family so that when they have a real estate need, you’re the first person they’ll think to turn to.

For more ideas on WHO to add to your sphere of influence, check out this flyer.