How to Unlock the Power of Your Sphere of Influence in Real Estate

How to Unlock the Power of Your Sphere of Influence in Real Estate

Social capital is more important than ever. The connections you build can open doors, help you achieve big goals, foster collaboration, and drive growth-and real estate is no exception.

For agents, success often comes down to how well you build and nurture relationships. While technology and marketing can help you stand out, your sphere of influence is your most valuable asset, yet it's often overlooked or underused.

And the numbers speak for themselves: Around 80% of real estate teams -both small and large-say most of their deals come from their sphere of influence (SOI). But here's the catch: over half describe their systems for tapping into SOI as "basic," 39% consider them "advanced," and 5% admit they don't have any systems in place.

In this article, we'll break down what your sphere of influence really means and how you can use it to drive your career exactly where you want it: toward success.

What is the sphere of influence in real estate?

Your sphere of influence, or SOI, includes friends, family, colleagues, acquaintances, and past clients who already know and trust you. These people can be powerful advocates for your business, sending referrals and opportunities your way that can turn into clients. But to make the most of your sphere, you need to be intentional and put in strategic effort.

Why should real estate agents invest in building a sphere of influence?

If you're unsure how much your SOI can impact your career, let's break it down. Below, we'll cover why building your SOI is worth the effort.

Get a steady stream of clients

A strong SOI gives you a reliable stream of leads and referrals, making it easier to stabilize your income without always chasing unpredictable leads.

Case in point: A 2024 study by the National Association of Realtors (NAR) revealed that the average realtor generates 20% of their business (median) from repeat clients and 21% from referrals by past clients and customers.

In other words, investing in your SOI takes much of the stress out of the job, leaving you with a steady stream of clients.

Spend less dollars on marketing

HousingWire states, "Effective marketing means reaching the right person with the right message at the right time."

Building and nurturing relationships within your SOI is usually more cost-effective than traditional advertising or buying leads. With a strong network, the business often comes to you rather than you constantly chasing clients.

Your main investment is the time you spend building relationships, not upfront costs. By focusing on your SOI, you can get more out of your marketing efforts and budget-spending less overall while making a bigger impact where it counts.

Build your reputation (and network)

Some real estate agents make success look effortless. They land top listings, attract high-value clients, and become the go-to expert in their market. Referrals and opportunities flow their way, but it's not luck-it's strategy, as the author of Build Your Reputation, Rob Brown, suggests.

These agents succeed by building relationships, earning trust, and growing their SOI. They've leveraged their reputation and social capital to open doors most can only dream of, and so can you.

When your SOI knows and trusts you, you gain a head start in establishing credibility. And when you consistently deliver value and communicate authentically, that trust extends to their friends and family, too.

Over time, this strengthens your reputation, expands your network, and gives you a reliable list of contacts to grow your business.

Keep your ears on the market

Each connection in your sphere helps you stay plugged into the market, protecting your business now and positioning you for future opportunities-even during market shifts.

Put simply, your SOI isn't just about lead generation; it keeps your ears on the ground. By staying connected, you gain valuable insights into trends, market updates, changes, and opportunities that give you the edge to adapt and make smarter decisions.

How to make your SOI work for you, now and in the future

By now, it's clear that your SOI can make or break your real estate career. But growing it isn't always easy. Here are six tips to help you unlock the power of your SOI.

1. Invest in your relationships

Your SOI starts with the relationships you've built over time. Nurture these connections by staying in touch, catching up in person, or simply being thoughtful. Show genuine interest in their lives and be someone they can count on-both professionally and personally.

And the same rules apply even if you're building your network from scratch.

As stated in HousingWire, "No matter where you network, always look for ways to connect with people, share the unique ways you help your clients, and find a way to stay in touch with your new contacts. Remaining top-of-mind with the people you meet is key, and the magic is in the follow-up."

2. Communicate what you bring to the table

Your SOI might not always know you're a real estate professional or understand the services you offer. So, make it a point to share your value-whether it's your expertise, experience, or commitment to client satisfaction. You can do this through personal conversations, social media posts, or even targeted marketing strategies.

James Nelson, a real estate investor, puts it best in a Forbes article: "Early on in my career, one of my mentors explained to me that we are in an information business, rather than sales. Sharing key insights and data with clients in an effective way, along with communicating with others in the industry, will help you propel your career to the next level."

3. Don't be afraid to ask for referrals

Referrals are one of the most powerful tools for growing your business. According to Harvard Business Review, referred customers not only buy more but also refer 30-57% more new customers than others. This happens because referrals feel natural and tend to connect like-minded people.

Don't hesitate to ask your SOI for referrals-if they've had a good experience with you, they'll likely be happy to help. Make it easy by giving clear instructions on how to refer you and showing your appreciation.

Also, networking events can be impactful, too. "Don't just rely on your immediate circle of contacts. Ask for referrals, meet in groups, or set up events (large or small) where a group of like-minded people can form naturally. Having coffee or a group Zoom call with a theme can bring people together," says Kayla Lee, an award-winning real estate agent in New York City.

4. Deliver exceptional service every time

Providing exceptional service is the best way to earn referrals. Focus on exceeding expectations at every stage, from the first consultation to closing the deal. When you consistently deliver great results, trust and loyalty within your SOI naturally follow-and so do the referrals.

One way to stand out is by anticipating your clients' needs before they even ask. This shows you value them as individuals. To achieve this, you need systems and people who understand (and anticipate) what your clients truly want. It also means you can't take a one-size-fits-all approach-every client deserves personalized attention.

5. Share the social proof

In today's digital world, social proof plays a key role in influencing decisions. According to a recent survey by Kerfuffle, 92% of real estate agents say online reviews have a major impact on their business and reputation.

So, encourage happy clients in your SOI to share their experience of working with you through online reviews or social media posts. These endorsements boost your credibility and can help bring in new clients.

6. Stay on their radar

To stay relevant with your SOI, regular communication and engagement are key.

According to Realtor Magazine, there are a few ways to do this: "While social media allows you to speak to wide swaths of current and potential clients, forms of subscriber communications-such as newsletters, podcasts and texts-are also useful options. You can leverage social media to drive people to these more intimate channels. You can also tap your database full of potential and previous clients to generate a mailing list. This yields a highly attuned, loyal audience that's right at your fingertips."

Ultimately, whether it's through email newsletters, social media updates, or personalized DMs, find ways to stay connected and offer value to your potential and previous clients. Because by consistently demonstrating your expertise and professionalism, you'll be top-of-mind when opportunities come up.

How Matterport can help you cultivate your sphere of influence

Matterport can help you make a lasting impression on your SOI, particularly with potential sellers. By using our advanced 3D virtual tours for real estate, you can show that you're not just keeping up with market trends-you're ahead of them.

Properties with 3D tours sell up to 31% faster and often for a higher price.

Additionally, offering 3D virtual tours through Matterport as a premium service gives you a compelling reason to reach out to your sphere with something valuable. It's an easy way to demonstrate your expertise and remind your network of the high-quality service you provide, which can naturally lead to referrals. In other words, you can stay top-of-mind without feeling pushy.

Matterport also streamlines the selling process for those in your sphere. For instance, virtual tours help pre-qualify buyers, reducing unnecessary showings and focusing only on serious prospects. For sellers, this signals an efficient and stress-free experience-something that's particularly appealing to those with properties in vacation markets or who are relocating.

And even after a property is sold, Matterport continues to add value. Specifically, you can showcase your past work to potential clients through your website. This way, you can reinforce your expertise and win more listings. And that's just scratching the surface of what you can do with our technology. To learn more about how Matterport can help you grow your real estate business,register for a free account.

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