Brad Korn's System For Sphere Of Influence Success
Want a business that works for you? In this podcast, Brad Korn reveals the simple sphere system he uses to sell 100 homes every year. Listen along to see how Brad’s daily routine does all the work for him so he can spend time doing what he enjoys most.
In order to help you understand all your options to increase your success, we interview experienced prospectors. That means, although some approaches mentioned may be more effective than others, they may also be more risky. So rather than censor this interview, we let you decide what is best for you and don’t endorse any particular approach.
Jump to topics: Read the topics below and scroll the video to the time listed.
• 00:03:47 – Defining SOI (sphere of influence)
• 00:05:04 – Sphere of influence vs. other forms of lead generation
• 00:06:19 – What to say to Expireds
• 00:09:28 – The math behind your Sphere of Influence
• 00:12:42 – Common misconceptions of SOI
• 00:14:35 – How to build your SOI
• 00:19:25 – How to avoid sounding like a salesperson
• 00:21:15 – The importance of staying connected
• 00:22:40 – Don’t talk about yourself
• 00:25:02 – Why agents are unsuccessful with SOI
• 00:29:49 – The cost for SOI
• 00:34:47 – How much time to invest in your SOI
• 00:35:39 – How your business can work for you
• 00:40:50 – How to have a happy life in real estate
• 00:44:47 – How this system works for any agent
• 00:45:57 – Brad’s daily system
• 00:52:49 – What makes Brad’s system unique
• 00:54:17 – Brad’s daily schedule
• 00:58:35 – Brad’s SOI script
• 01:00:16 – Sphere of influence wrap up
Q: How do you define Sphere of Influence?
For me, sphere of influence is anyone who I know, or anyone who knows me. That’s my sphere. What I do at that point is become “top of mind” in their mind for the real estate slot. A sphere is anybody that, when they hear my name, real estate comes to mind. Let’s say someone is at church on Sunday, out in the front talking to people, and they hear the word “real estate” – they just think of Brad Korn
Q: How is sphere of influence prospecting different from other forms of lead generation?
Prospecting Expireds is lead generation. However, if you, say, get into a conversation with somebody and you bring them into your sphere so you can connect with them, you are going to more than quadruple your business and results.
So Expireds, For-Sale-By-Owners, knocking on doors – all that’s lead generation and lead prospecting. The problem is, our industry taught us to get the next deal. Get the next deal. Get the next deal. So we’re all ripping through these lists, dialing, trying to follow some script to try to get them to stay on the phone long enough for me to try and build a connection with them when I’m not even asking connection-type questions. I don’t know anything about this person like if they really wanna move or, you know, if they got their price, expired.
Q: What do you say to these Expireds?
I love expireds because it’s like, “So if you got your price today, are you telling me you wouldn’t sell, you wouldn’t take that offer?” And they’d be like, “Well, no, if we got our price that we wanted, we would sell today.” “Well, then we should meet because you can’t get your price when you’re not on the market. I don’t know if I can get your price but you can’t get it while you’re not on the market. So we need to meet and talk, you know.’
But then, this is the part that’s important. “Why were you guys moving anyway?” “We’re taking a break for the next six months or a year,” “It was a horrible experience.” Okay, I’ll call them back in a year, right? Yeah, right, like you will.
So what you do is find out why they were moving, and why that was important, and see if you can just connect with them a little bit. I don’t care if they’re gonna meet with me or not. But it’s not about whether or not they’re selling right now, or whether I can convince them to sell right now. It’s about just human to human, “What’s going on?” “Why didn’t it work out?” “Sorry, that didn’t work.” Or, “Yeah, we probably should meet.” Whichever way it goes, either way, I’ve connected with them.
Q: You’ve connected with them. Now what?
So they go into my database now. And now I stay in touch with them consistently, persistently after that. And this is the crazy part. I don’t talk about real estate all the time. Because otherwise, if they were ready to sell, I’d already be over there with a listing appointment and the sign in the yard and have the listing agreement signed. So we’re just gonna be friends now, if you wanna call it that, or sphere until they’re ready to sell their home.
Q: What are common misconceptions of sphere of influence?
I don’t know what the misconception is. I don’t know how people don’t figure this out. You have enough people that know who you are, and you know who you are, to generate 100 sales a year within 12 months of starting real estate if you just are on purpose about what Haley and I are talking about and it’s about sphere.
My goal is to get them on the phone and just connect. Forget about real estate. I do not sell real estate every day, I barely sell real estate. I tease and jokingly say I’m probably the laziest 100-sale-a-year agent on the planet because I’m out playing, having fun. I am out having fun wherever I am.
So the misconception is, when I say connect with five people a day, that’s like my minimum. If I can add five new relationships a day to my database every day, say five days a week, really, like take two guilt-free days off, whatever or you just don’t do it for a couple of days. But 5 days a week, 5 people a day is 100 people a month is 1,200 people a year. If you just did that one activity…
Q: How do agents find five people a day?
I didn’t say find five people a day that wanna buy or sell right now. Got it? It’s find five people a day. I don’t care who they are, they’re all gonna move in the next five to seven years anyway. So connect with them, get them in your database, everybody you meet from this day forward goes into the database.
So if you created a master list of just that group of people, let’s just say it’s 1,000 on Facebook and 1,000 on your phone. That’s 2,000 people. 2,000 divided by 7 is 285 transactions or 285 people are moving in the next 12 months, every 12 months for the next 7 years, right. Divide that by 12. That is 23 transactions a month just on your Facebook and your cell phone list.
Q: What do you say to these people?
You can’t take all 2,000 people and throw them in a mass mailing list and blast out your postcards. Because 90% of them aren’t even gonna see anything. And you contacting people out of your database, and if you think you’re really well connected with your database, I challenge you’re only really connecting with about 10% of your database. So my 23 deals just turned into 2 deals a month, because I’m only naturally connecting with about 10% of my database.
All of these stats I’m throwing out have been manually calculated in my head. So there’s no form I’m gonna send you where some research was done on it. I’m telling you, it’s 29 years of coaching top agents, tracking my own business. We’re all keeping in touch with about 10% of our database, we know 20% of the database is moving every single year. So you gotta keep in touch with 100% of it to capture 100% of it over 7 years. I know I just went crazy on numbers, didn’t I?
So if you break those 2,000 people down to 5 a day, just take 5 people off your phone, find their address, find their phone number, find the email, use Google, use the internet, use Facebook. Facebook will tell you where they live right now. Fastpeoplesearch.com will tell you their address, most of the time. I mean, there’s just all kinds of resources out there. So just take the time to find five of them. Call them, “How are you?” Drop them a note. Heck, if you don’t have their address, ask for it.
Say, “Man, it’s so great catching up with you, where are you guys living these days?” “Oh, we’re on XYZ Street” Put this record in your email list. So drop them a handwritten note in the mail and then start that follow up program to stay in touch with them from that day forward.
Q: How do you overcome sounding like a salesperson?
It’s a process. We’re taught to look for the next deal, we’re taught to be salespeople and talk about real estate. And some people say, “You shouldn’t be sending them recipes and all this stuff. You’re a real estate agent, you should be selling real estate stuff.” Okay, but 98% of the people said, “We’re not moving right now.” So sending them real estate stuff every month is the fastest way to get off their radar.
Just call your family and just say, “Oh, my gosh, cousin Joe, I haven’t talked to you since the last family reunion. You’re my favorite uncle.”
Q: How much money can agents expect to invest in SOI?
Listen, I have no overhead. I don’t buy any leads. Okay, I buy postage because I send letters out. I like to mix my mediums up. I do not do all email drip plans. And I don’t do bulk mailing. So I don’t really have expenses there. What I have is a roll of stamps…100 on a roll. And those sit on my desk with the envelopes and the note cards.
Q: Can you walk us through and give us a brief overview of your SOI marketing strategy, tactics, approach?
There’s three core things that happen every day. I need to put new relationships in the database. And then I need to turn the system on. And then just do what the system tells me to do.
I run everything in my contact management system or my database through campaigns and action plans. And that is creating a series of events like, I want this to happen on day zero. I want this happen seven days later. I want this to happen 14 days, right. And what’s critical is it’s not cascading or it’s not, “Once I complete this activity, now the next activity can happen.” It cannot run that way. McDonald’s does not have a buzzer that says, “Start the patties, now if you need more time, you know, just hit this button and ignore it and let them go for a little longer.” No, you have to flip them when the buzzer goes off. You have to…
So it’s a I-can’t-turn-it-off system so that I stay focused on my business and I get off the roller coaster ride, right. So that happens day 0, day 7, day 14, day 32.
But my routine is: I come in, I go to my pipeline to see if I added people yesterday. And if I didn’t, I’m adding people right then right to my feed form. And really, it’s just as simple as getting name, address, phone number, and where they came from, right?
Then I go to my activity’s dashboard. And I go to my letters. And I highlight all the letters and I send them to the printer. They just start printing. Somebody is getting week one follow up, somebody is getting week 32 to follow up, somebody is getting a for sale by owner, week three follow up. Everybody’s getting different things based on what plan I’m running, and I have hundreds of plans.
So I send my letters, I send my labels, then I go to my calls, and I print off my call list for the day, right. And it’s usually 10 or 12 calls a day. And then I go to my to-do’s and I print that list off. So now I’ll grab all my social media touches because this is typically about 6:00, 6:30 in the morning, I’m up before everybody else is up. And I’ll print out my social media tasks. It says touch them on social media. And I’m just sending messages. “Hey, what’s up? How are you doing?” Blah, blah, check, check, check, check, check, right.
And then I’ve gotta go to how many notes did I need to write? So I’ll write those notes. Now, I pretty much do that right when I put them in. It’s just I know if I’m writing the note that I’ve gotten their address, and they’re going on this plan. So I just chunk it out.
And then the to-dos that are left over are my contract processing stuff.
Q: What does the beginning of this system look like?
Well so, I just go to my calls. So my calls would come up and there’s different calls in there. So there’s an internet lead that came in that I called them 30 seconds after the lead came in, nobody answered, got their voicemail. “This is Brad Korn with Korn team. We haven’t met yet. You know me from Adam. But we crossed paths either on the internet or something, you were looking for some property. So I’m just trying to get a hold of you see if you’re buying or selling,” right?
Now, I start the internet lead conversion plan. I put their name and their email or their phone number, whatever I have, right. And I might go to Google and Facebook and see if they pop up, especially if they have a unique name, just to see if there’s an address or whatever. But it’s irrelevant.
That plan starts running. And on day zero, it says, “Did you call?” Right. Do I have their phone number and email? It’s a to-do. The next thing is call. Day one, after the plan starts, is call. Day two, after the plan starts, is call. Day three, after the plan starts is, call, right.
So that’s my initial call. I put them in, I started the plan. Now, tomorrow morning, I come down to my office and I go to my dashboard and I print out my calls. And there’s John Smith. So I call John Smith. “Hey, John, this is Brad Korn, we crossed paths on the internet. Just trying to get ahold of you see if you’re actually buying or selling.”
Day three, John Smith pops up. I don’t care if I talked to him, not talk to him, if I made the call, didn’t make the call. I don’t even know who John Smith is yet, he’s just on my call list. I call, “Hey, John, this is Brad Korn.” And it does say, day three internet call, you know. So then I’ll say, “Hey, John, I know you’re calling on some properties, and they’re sold, you’re calling on things that are already sold, you’re looking for a good deal, and you’re missing them. In fact, I did help one person get a good deal yesterday, so you’ve already missed out on one. Just give me a call back let me know. If you’re not buying right now, that’s cool. I just want to be available to help you take advantage of the current market.” That’s it.
So you just heard every script for three days. I’ve got 15 seconds invested into this client. Now John’s name is not gonna pop up again in front of me for another three or four days. And then he’s only gonna pop up one more time about three weeks after that. And then, I’ll never see John Smith’s name again. I made five attempts to get him on the phone, if I didn’t get in by then… and see 45 days from now is when the plan ends. And it’s the last call and I’m just gonna call see if I randomly get him to answer the phone. And he’s gotten my messages enough, he might recognize my number. And then some emails went out a couple of times because I don’t have his address yet.
So a couple of emails went out, “Hey, it’s been 10 days since we started leaving you messages.” “It’s been 20 days since we crossed paths.” “It’s been 30 days, we’ve helped three people put houses under contract.” You know, those are my emails that are going out. And they say stuff like, “Hey, you got a live person here?” You know, I like that one too.
But at the end of the plan, it says, “It’s been 45 days, have you converted?” Well, if I made that call, and that pops up, I haven’t converted him so then I just put them on a forever email drip plan. That’s some stupid generic thing that’s built into the system. I don’t care what it says, it’s like, all right, we’ll just see if they convert someday. And less than 1% will, but I’m not gonna waste any more time on it
Q: What do you think makes your system or approach special, unique, or successful?
So this is what I’m bringing to the industry is agents that are closing two, three, and four deals a month, are putting somewhere between 20 to 40 hours of work into a month. And yet, they’ve lost their life. They have no life. They’re missing out on things with the kids. And it requires 40 hours of work for the whole month. That’s not even 10 hours a week. I tell people all the time, you know, I was working about 10 hours a week in real estate, that’s it, selling 100 homes a year and going and having fun. But it’s because I documented it, systematized, I turned into a system’s freak.
It allows you to free your mind to take care of today’s current situation. So when you do have a contract blowing up, you can actually be there, attentive to it and make the right solutions and get done with it quicker, versus trying to fit it into everything else. Or just stopping everything else, and, “Oh, my God, I just spent the last 48 hours saving this deal.”
Q: Does this system work for all agents?
Yes. Brand-new agents to experienced agents.
Q: Is there any other advice you have for agents?
Everybody is a potential buyer and seller, you just have to be thinking over a five to seven-year period versus right now. If you stay focused on right now, you’re gonna be one of the 60% to 80% that burn out in a year to 3 years. You’re gonna make so much money in real estate just making friends all day long.
Just keep it simple. Go out and talk to people, talk to people, talk to people. Forget about being a salesperson, you don’t have to sell anything. When you get branded as the realtor, they will call you for advice.
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