Jennifer Allan's Selling to Your Sphere of Influence - No Sales Pitch Required!

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"Touching" versus "Impressing" for Real Estate Agents

Several months ago (egads, in September) I wrote a blog with a teaser promise at the end to "stay tuned" for more... and that "more" never came. I sure hope too many of my readers didn't lose sleep wondering when I'd ever get back on topic. Here's the post... At the end of the post, I promised to discuss the difference between "touching" and "impressing."

To recap, in our business, we often talk about the need to "touch" as many people as possible with our message, whether those touch-ees are people we know (our Sphere of Influence) or strangers. We get all revved up about volume touching campaigns, to ensure that we get that message out into the world as efficiently as possible. After all, Real Estate is a Numbers Game (blech), so the more people who get touched by us, the more often, the better, right?

Eh. I dunno. First, I'll debate to the ends of the earth whether or not our business IS a numbers game; after all, we get some pretty juicy paychecks and it doesn't take too many of those paychecks to add up to some serious nickels and dimes. We don't need to sell 40,000 houses this year; for some of us, 10 or 20 might pay the bills just fine, maybe 30 or 40. In either case, that means only a few dozen people in our whole city need to think enough of us to entrust us with their precious real estate business.

With me so far?soi

Many Sphere of Influence (SOI) prospecting programs mention "touching" as many of your SOI as you can, as often as you can. However, I want to make a distinction between "touching" and "impressing." I can touch 100 people in a day with a mass email or a postal mailing, pretty easily. And that's fine - it has its place. But what if I also make an effort to impress the people I run into during my day-to-day travels, whether it's business or personal? If you combine the two concepts - a volume "touching" campaign with a concerted effort to make a good impression on people when you have the opportunity, your prospecting results will improve exponentially.

What if you were to impress just one person per day? That's 365 impressed people in a year. Two a week? Even one a week? It sounds pretty obvious, but we get so caught up mass-prospecting that we forget the Power of One - that is - if every person you know refers just one person to you in a year, you'll have a banner year. And the chances of that happening are a whole lot better if everyone you know thinks you're pretty darn cool... instead of simply sort of knowing who you are.

Maybe I should explain what I mean by "impress." You can probably guess that I don't mean "brag about" or "blow away with a fantastic elevator speech." No, by impress, I mean that the person you just interacted with walks away from the interaction feeling just a little bit (or a whole lot) better than he did before. Obviously, he's not saying to himself "Thank GOD I got away - I thought she'd never shut up." Or "That's the last time I answer the phone when HE calls" or "What a flake."

The cool thing about impressing someone is that the positive impression you make on them will stick around a lot longer than the impression you make with a farming postcard, drip email or quarterly newsletter. If someone goes out of their way for me today, I'll still feel good about him for months, maybe even years!

So, take an hour out of your day to impress someone whenever you get the chance. It might be a far better use of that hour than whatever prospecting you'd be doing otherwise...

www.sellwithsoul.com

 

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The Savvy Prospector: Eight Weeks to a Full Pipeline for Life 

 

The Exceptional Agent 

 

 

 

 

 

How Can a Lender Earn My Business?

Because I teach real estate agents how build a business based on their Sphere of Influence (SOI = the people they know and the people they meet) as opposed to marketing-to-strangers, I'm often approached by new or newer lenders asking how they can successfully persuade US (the REALTOR community) to give them a shot.

Frankly, I'm always stumped by the question. Traditional lender prospecting techniques simply don't work - at least in my experience. Offering daily rate sheets or open house brochures won't do it. Nor will weekly newsletters - printed or emailed. Sure, I appreciate (and will use) the information, but it's not going to get a lender on my preferred vendor list.

Even lender-modified SOI techniques probably won't work. Take me to lunch or coffee? Great! But I can't promise you a return on your investment. Pop-by my office to chat? Eh, please don't. Especially if your "chat" has anything to do with "earning" my business.

How about sending me buyers? Well, that sounds fabulous, but I've yet to have a lender do that, so I can't speak to the effectiveness of it.  Hmmmmm... well, stay tuned - I'll share my thoughts on that in a sec.

So, how do I find my favorite lenders? Ah, that's an easy question. There are two ways I've found my lenders-of-choice:

  1. My buyer brought his lender to the deal and the lender impressed the heck out of me.
  2. The lender on the other side of the deal (when I'm the listing agent) impressed the heck out of me.

So, I guess my not-so-helpful answer to lenders seeking REALTOR loyalty is to... well... impress the heck out of the REALTORS you have the opportunity to get in front of. Do your job, do it exceptionally well and then stay in touch with the agent without ever pestering her for business or referrals. Once you have an impressed REALTOR, then you're free to implement your other loyalty-inspiring activities - newsletters, lunch dates, rate sheets, etc., but without that first step - proving your competence - it's probably wasted effort.

Speaking of lender-to-REALTOR referrals... I don't expect my lender to send me referrals and I certainly don't make it a requirement of my loyalty. A great lender (who is what I want on my team) probably has dozens of REALTORS he works with and it's far more important to me that he take care of my business  than that he send me business. However, I will say that if a fledgling lender does send me a referral and then impresses the heck out of me with his handling of the deal, well, then, he has a good shot at making my preferred list!

 

SOMEWHAT RELATED BLOG: Dear SOI, Thanks, but I don't want your loyalty!

 

The Exceptional Agent