What Is SOI in Real Estate?

In real estate, the term SOI stands for Sphere of Influence. Your SOI is essentially the network of people you already know and interact with regularly—family, friends, colleagues, and even acquaintances. For real estate agents, tapping into this sphere is a powerful way to generate leads, build relationships, and grow their business.

How Does SOI Work in Real Estate?

Your Sphere of Influence (SOI) consists of individuals who know, like, and trust you, which gives you a built-in advantage when prospecting for real estate leads. These connections are more likely to trust you with their real estate needs or refer you to others in need of a real estate agent.

How to Market to Your SOI

Marketing to your SOI is about staying top-of-mind without being overly pushy. Here are some strategies to effectively market to your Sphere of Influence:

• Send Personal Emails: Craft personalized email updates about the real estate market, home buying tips, or exciting local listings. Make sure your communications feel relevant and tailored.
• Leverage Social Media: Regularly post updates on your real estate activities, client successes, and helpful market information on social media platforms. Interact with your SOI by commenting, liking, and sharing their posts to stay engaged.
• Host Client Appreciation Events: Organize gatherings, like homebuyer seminars, charity events, or casual meetups, to thank your SOI. These events strengthen your relationships and give people a chance to refer you in a casual setting.
• Mail Real Estate Postcards: Send property listings, market updates, or holiday greetings via postcards. A tangible reminder keeps you at the forefront of your SOI’s mind.
• Ask for Referrals: Don’t hesitate to directly ask your SOI to keep you in mind if they know someone looking to buy or sell a property.
• Create a Monthly Newsletter: Stay connected with your SOI by sending a regular newsletter with relevant real estate insights, tips, and updates.

How to Leverage Your SOI in Real Estate

Here are some additional key ways to use your SOI to generate leads and build your business:

• Provide Value: Offer real estate resources, such as home valuation services or mortgage advice, to demonstrate your expertise.
• Stay in Touch: Maintain regular communication with your SOI through email, phone calls, and social media. Share updates on your real estate activities and relevant market trends.
• Host Events: Engage your SOI through events like open houses or homebuyer seminars, allowing you to connect with them on a personal level.

CRM Tools to Keep Track of Your SOI

Using a Customer Relationship Management (CRM) system helps real estate agents organize their SOI, track interactions, and automate follow-ups. Here are some popular CRM tools specifically designed for real estate agents:

• Follow Up Boss: A robust CRM tailored for real estate professionals, Follow Up Boss helps agents manage leads, automate follow-ups, and keep track of all client interactions in one place.
• LionDesk: LionDesk offers lead management, email marketing, and SMS campaigns all within one platform. Its easy-to-use interface allows you to track communications and schedule follow-ups.
• Real Geeks: Known for its lead generation and CRM capabilities, Real Geeks provides an integrated platform to manage your SOI.
• Wise Agent: Wise Agent offers tools for managing leads, email marketing, and transaction management. Its customizable CRM platform allows agents to keep track of their SOI, create workflows, and schedule important reminders.
• kvCORE: kvCORE is a complete real estate platform that offers CRM, lead generation, and marketing automation. Its mobile app makes it easy to stay connected with your SOI while on the go.

Conclusion

In real estate, building and nurturing your Sphere of Influence (SOI) is crucial for generating new leads and referrals. By consistently marketing to your SOI through emails, social media, events, and more, agents can turn their personal and professional networks into a thriving source of business.

For more ways to convert leads from your SOI into clients, explore RobinFlow’s #1 Lead Generation Platform. With RobinFlow, real estate agents can automate workflows, stay on top of client communications, and close more deals.