It has been said many times that people do business with people they know. So if that’s the case then you need to make a list of the people you know. Easier said then done, if you were to sit down with a yellow legal pad, you would get a decent list.

Here is a tool to help with that, it is called a memory jogger.  Go ahead and download it and start building or adding to your list.

Remember any questions feel free to contact me voice or text 801-999-8209

We all know for the most part Realtors get the lion’s share of their business from their Sphere of Influence and past clients. The idea for an agent to advertise in the Yellow Pages is absurd, I agree. After all when was the last time you heard of someone getting a call from a yellow pages ad? Some of you are asking what are yellow pages?

So now you are wondering if this techno nerd has been sniffing to much RAM or something.

So now that we agree that SOI is the best, let’s open up the yellow pages to the beginning. What do you see, Abrasives. Who do you know that is in the Abrasives Business (not who is abrasive)? Write them down. Go to the next item Abstracter hmmm, might we know someone in the abstract business, write them down. Next is Accident Reconstruction Service… You get the idea.

Go through the yellow pages and write down all those that come to mind that are not in your current database and add them add them and continue to market to them for repeat and referral business.

Sphere of Influence or Center of Influence SOI or COI

This is probably the most underworked target in the industry. These are people that already know you, trust you and hopefully like you.

According to the research that went into the book the Millionaire Real Estate Agent the return from marketing to your SOI is 12:2. For every 12 people marketed to you can expect 2 transactions per year, one referral and one transaction.

Now the amount of deals doesn’t appear in a few marketing pieces. It takes a good 12-18 months before you see consistency, however you can see results earlier, but for consistent results it takes a while. But this group has the highest rate of return, 12:2 or 6:1. Even if you hit 60 – 75% of that, times it by your average commission and see what that is.

The question is what and when do you market to them. I use post cards because of their ease to produce. Letters and newsletters have too many steps. Letters you have to print the letter, have it folded, stuff it, seal it, either put labels and stamps or at least mail merge to the envelope. Same with a newsletter, they have to be folded twice, sealed a certain way…

How often should you send them something? Well according to the Millionaire Real Estate Agent or MREA, 33 times per year. At first I thought that was way too much. But it really is just a matter of two monthly pieces consistently and some fillers. If you are marketing to a married couple they each have a birthday and an anniversary, throw in a couple more things and call them 4 times per year and you are there in no time flat.

Then there is your core or advocate group whatever you want to call them is up to you, just identify who they are and work them. Now you work them a little differently. This is the group you can call and ask them for help.

The program goes something like this. Hi, how is it going? Let’s get together for coffee, or whatever… When you meet them do a little hanging out, use the F.O.R.D. method Family, Occupation, Recreation Dreams… How’s the family, how’s work, what did you do this summer? Then you have to ask them for a favor, ask them if they would be willing to commit to sending you a referral in the next 12 months. If they say no, then they were never qualified. So I am assuming it is a yes, and then you must ask if you can follow up to see if they have any one.

After the meeting send them a handwritten thank you card thanking them for meeting with you and for their willingness to help you. Then follow up monthly.