In the past we have put a lot of stock in what is termed the “Center of Influence”. Some people use circle or sphere of influence. Well, I’ve been reading the Work by Referral book by Buffini and I’ve decided to change my vocabulary, or atleast the acronym, to LOR (List of Relationships). I think it better describes what we need to continuously do with those who are on our list – Build Relationship.
If you don’t have one, start from scratch. You can use the following to help you develop that list:
- Friends and Family – These are people who are on your Christmas Card list.
- Current Clients – This group is often overlooked as a referral source.
- Past Clients – An easy one, but remember, 82% of people who sold a home said they would work with thier agent again. Let’s not give them a chance to forget us.
- Groups and Associations – These are you church groups, PTA’s, Hobby groups, teams, etc…
- Business Associates and Networks – Local Chambers, Contractors, Inspectors, Lenders, etc…
For those who already have a COI, the first step to converting it to an LOR is to evaluate the people that are on it.
Organize your list and group the relationships into 5 categories (A+, A, B, C, D)
- A+ – These are the people that send you multiple referrals a year.
- A – People most likely to refer you.
- B – People who would refer you if they were asked and shown how.
- C – People who MAY refer to you in the future.
- D – Difficult and Demanding people. I call this the “Ritual Removal Group”
All of the people in your LOR should fall into one of the above categories. Once you have them all categorized, it is imperative that you verify their information is correct (Address, Phone and Email).
There will be more to the story after Labor Day, so remember to take some time off, but also use your time wisely. It shouldn’t take you more than an hour to come up with you names and categorize them. Then starting Tuesday, start verifying the info.