Step 8 – Sphere of Influence – Compile Your Database

Your sphere/database is the heartbeat of your real estate business. It’s the lifeline that fuels your success. A CRM system is how you manage this database effectively, ensuring you stay top-of-mind with your contacts. Never neglect feeding your database! Starving it means starving your business. 

Essentially, managing your database should be your utmost priority. When someone in your sphere thinks “real estate,” they should instinctively think of you.

Did you know that a staggering 70% of buyers can’t recall the name of their real estate agent after just one year? This statistic underscores the importance of starting early, implementing a robust CRM system, and devising a strategic plan to maintain consistent communication with your sphere.

That’s why our Action Plan focuses on setting up your CRM system from the get-go.

Database Compilation:

When compiling your database, think expansively. Your sphere is broader than you may realize – leave no stone unturned. While your core sphere likely includes close friends, family, and regular acquaintances, consider including anyone you’ve transacted with or written a check to.

Your list should encompass:

  • Family
  • Extended Family
  • Friends
  • Neighbors or HOA members
  • Parents’ Friends
  • Former Classmates
  • Former Sports Teammates
  • Current Teammates or Activity Partners
  • Current and Past Co-workers
  • Church Members
  • Organization or Club Members
  • Service Providers (hairdressers, doctors, mechanics, etc.)

If you have a spouse or significant other, expand the list to include their connections too.

If you have children, consider including contacts from their school, sports teams, or social circles.

Begin by tapping into your phone contacts, Facebook friends, and LinkedIn connections. For further inspiration, refer to the Memory Jogger list in the Resources section below.

Action Items:

  1. Create your database
    • First, write a list of EVERYONE you know.
    • Second, start compiling contact information and birthdays. Use the attached excel sheet to do so (ignore the “Category” header, you will use this tomorrow).
    • Even if you don’t currently have all of someone’s contact info, or even if you don’t have any of their info, KEEP THEM ON YOUR LIST. If you know you’re going to see them somewhere, you can bring them a handwritten note, or message them on Facebook. Plus, you can always search Google or Facebook for that person to try to find their contact info.
  1. WATCH THIS TRAINING:  In this class you will review the process for creating your sphere/database list, categorizing contacts, organizing contacts into a CRM program, methods of follow up and contact, and creating a schedule to follow through. You will leave with ideas, tools, and a personal commitment to connect with at least 5 people in the next 5 days.

Creating a Follow Up Plan for Your Sphere | Kristin Cole | 4-4-24

Resources:

EXCEL – DATABASE SHEET

MEMORY JOGGER – TO HELP WITH COMPILING YOUR SPHERE

Icenhower – SOI Update Database Script & SOI Update & referral PDF – For complete training module go to the Silvercreek Success Icenhower Training Suite and complete the SOI: Building a Referral-Based Sphere of Influence Module