Can You Rely on Your SOI Even in Today's Market?

*SOI = Sphere of Influence = a business-building strategy based on the personal relationships in your life. In the good old days buyer and sellers were all over the place. Everyone knew someone who was trying to buy or sell a home (and getting outbid, remember?!?) or who had just sold their house with multiple offers. Well, today is certainly, as you are aware, NOT the same. People are simply not buying and selling homes in the volumes of years past. Real Estate is not HOT, HOT, HOT and I will bet many of you have faced that sympathetic look when you tell someone you sell real estate for a living. So, today, CAN you reply on your "SOI" for most or even all of your business? The answer is: A resounding Yes and No. No, traditional "SOI's" where you simply let all your friends know you sell real estate and then send them off into the world to be your marketing department is definitely not going to work today. Why? There is just simply isn't the volume of buyers and sellers today from days of old. Now, it's not unrealistic that the people you know truly DON'T know anyone who needs your services! But to redefine your "SOI" to today's market the answer is a big YES! If you will expand your "SOI" to include every warm body you come into contact with during your day-to-day travels, then yes, most certainly, SOI will work beautifully for you, even in market like we have today. Obviously, this means that you need to try to get your smiling faces in front of as many warm bodies as you can, as often as you can. However, you can't just hit the streets (or the phone) with a smile on your face (although that does help A LOT) and hope that new clients will force themselves upon you. In order to capture the attention of those warm bodies you run into,you need to have something they want! What's that? Information, as in knowledge of your local market and what you will do for them! Facts, figures, benefits, yes, but also a familiarity with specific listings, recent sales and even the overall vibe of our marketplace. When you're out in public and can Talk the Talk confidently and casually, business will be almost magically drawn to you. You won't have to beg for it; you won't even have to ask for it. People will ask you if you have time for them! So, how is this related to an SOI strategy? Well, you have to have an audience with whom to share your market knowledge and the best way to find a receptive one is to be in the company of people you enjoy. Your friends, sure, but also people who live in you neighborhood or attend the same parties, churches, eat at the same restaurant or go to the the same dog park or even shop at the same Wal-Mart! You have it, where do you frequent on a consistent basis? Being a nice-n-friendly guy or gal is great, and can be enough to generate a minimal level of business is a strong market, but today, you need more. In order to effectively generate business from the people you know and the people you meet, you must have something they want! That something is INFORMATION. Master Your Market - and sell your share of it! Originally penned by Realty Times, Jennifer Allen, with excerpts from Lynn Sperry. Lynn Sperry,ABR, CNE, CEG "Exceeding Your Expectations" West USA Realty 480-820-3333 Director of Career Development "May your troubles be less, your blessings be more and nothing but happiness & prosperity come through your door"

NAR Meets with Government and Industry Leaders To Address Critical Issues

To: All REALTORS®

From: Charles McMillan, 2009 NAR President

Re: NAR meets with government and industry leaders to address critical issues.

Dear Fellow REALTOR®,

I have spent the past week in Washington, D.C., in some of the most important meetings to date with top government

and industry leaders. In a special audio edition of my President's Podcast, I provide details on how NAR is addressing

the proposed limitations on the mortgage interest deduction, problems with short sales and REO sales, and the Federal

Reserve's latest announcement that it will purchase more agency mortgage-backed securities.

Please take just a few minutes to listen to the podcast, and forward the link to your colleagues.

http://go-to.realtor.org/r/ZBINLA/WTHSP/OAWA8/SGC7D/LN926/FW/h

Rest assured that NAR continues to work harder than ever, both in the public arena and behind the scenes in Washington, D.C.,

to stabilize the housing market and address legislative and regulatory issues that impact you.

I will continue to provide you with regular updates on our progress. In the meantime, please visit the Government Affairs page

on Realtor.org for more details on our efforts and check the President's Report for additional updates from your 2009 Leadership Team.

Sincerely,

Charles McMillan, CIPS, GRI
2009 NAR President

Everything new under the sun...

There are two things that are an absolute certain in real estate sales...

1. No two deals are the same. Every short sale and every lender-owned deal are different, and
2. Remembering # 1 will keep you sane.

You might look at a few deals a week and talk to a few people a week about these types of deals. But, your brokers talk to dozens every day, and we hear it all. If you feel you are out there alone, you are not. Your brokers are here every day, evening and weekend to help you.

And, with this blog, we will share timely hints, current news and various other issues on a routine basis. Be sure to check back often, and bookmark the link to this site.

Agent Blog launch

The West USA Agent blogger is about to be launched. Great information and resources for our agents. We hope you'll enjoy this blog and find it beneficial to you in your real estate business. Wishing you a successful and prosperous year. Sincerely,
West USA Realty Management