M assachusetts-based Eddie Ahearn credits his DJ business with helping him in real estate because it created a sphere of influence, especially with people whose weddings he had played. This helped him to turn one listing or buyer into exponentially more deals as word-of-mouth and his outreach process spread throughout his sphere. Being top of mind and maintaining relationships is crucial to building a successful real estate business. “I had a big sphere [of influence],” recalls Eddie, “including people that I had done weddings for. My fiance has a huge family. I DJed all her family's weddings. So her cousins were coming to me…And you can turn one listing or one buyer into, you know, 20 deals. If you continue to reach out to them and service them correctly, they're going to come back to you with other referrals.” Eddie's company has a training program for new agents that includes reaching out to people monthly, creating a business page, and sending postcards. He emphasizes how he was able to tap into the value of the sphere he initially built through his DJ business: Indeed, Eddie emphasizes that his ultimate goal is to earn his clients' referrals. He believes that referrals are the best way to grow his business because people are more likely to work with someone who has been recommended by someone they know and trust. He notes that staying in touch with clients and maintaining relationships over time is key to earning referrals by standing out as someone who has been there for his clients and provided them with value. You want to work with people you like, people you get along with. And being a DJ and especially doing weddings, people did get to see my personality. They did get to see how I react to crowds and get the party going. Their first impression of me was, “Hey…we had one of the best nights of our life, and he was running the show.” So that's a good first step to get people to say, “I want him to help me find a house or to sell my house.” It was a good way to get in the door.
Growing Your SOI with Well-timed Outreach
A key takeaway from Eddie’s story is how maintaining contact with his sphere of influence helped him to grow his business. He highlights the importance of being top of mind with clients, through monthly newsletters, postcards, Facebook posts, and other touches, as well as maintaining relationships after the transaction ends: “Every month you're reaching out to your sphere so that whenever they or somebody they know is looking to buy or sell, you're top of mind with them. You're the first person they think of.” In addition to his monthly outreach, Eddie also suggests some other well-timed communications that help build a better relationship with his sphere of influence.
Here are Eddie’s tips on when to reach out to maintain and grow your sphere of influence:
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BIRTHDAYS Send a card or a little note letting people know you are thinking of them on their birthday. HOUSE-WARMING GIFT/VISIT Send a gift or arrange a time to pop in for a quick visit with a prior client to check on how they’re doing in their new home. This is an opportunity to create content as well. As Eddie says, “take a little video; throw that out there just to let people know that when the transaction ends, I don't go away. I'm still there for you.” TAX TIME Another great time for agents to reach out is tax time. Eddie suggests sending a copy of the final Closing Disclosure. “You know, whoever who just bought or sold the house may not have that, and they need it for tax time. It's a great way to reach out and say, ‘Hey, I know tax time is coming. Here's the CD, andif you need anything else from me, let me know.’ Just keeping your name out there and letting people know that you're still there even after the transaction's over.”
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LISTEN TO THE FULL INTERVIEW WITH EDDIE
SMART AGENTS | 30
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