How Much Do You Know About Soi?

13 Questions | Total Attempts: 442

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Small Business Quizzes & Trivia

Real estate agents - how much do you know about running an effective Sphere of Influence business? Take this quiz to find out! (answers and explanations follow the quiz)


Questions and Answers
  • 1. 
    SOI stands for Sphere of Influence. Which is the best definition of "Sphere of Influence" from a business-generating perspective?
    • A. 

      Your past clients and current prospects

    • B. 

      Your friends and family

    • C. 

      Everyone you know

    • D. 

      Everyone who knows you

  • 2. 
    Your Sphere of Influence could potentially include the following:
    • A. 

      Your renters

    • B. 

      Your husband or wife's family

    • C. 

      The receptionist at your real estate office

    • D. 

      Your ex-wife

    • E. 

      All of the above

  • 3. 
    Your friends will enjoy being asked for their business and referrals on a regular basis.
    • A. 

      True

    • B. 

      False

  • 4. 
    Offering incentives to your friends in exchange for their business and referrals is an effective way to build your business and enhance your credibility among the people you know.
    • A. 

      True

    • B. 

      False

  • 5. 
    Your friends probably won't be comfortable using you or referring to you if you're new.
    • A. 

      True

    • B. 

      False

  • 6. 
    Monthly newsletters and annual calendars are the best way to ensure business and referrals from the people you know.
    • A. 

      True

    • B. 

      False

  • 7. 
    You must be an extrovert to succeed with an SOI business model.
    • A. 

      True

    • B. 

      False

  • 8. 
    Compared to geographic farming (mass-mailing), an SOI business model:
    • A. 

      Is less expensive to implement and maintain

    • B. 

      Is more expensive to implement and maintain

    • C. 

      Typically produces results much sooner

    • D. 

      Typically takes much longer to produce results

    • E. 

      A&C Only

  • 9. 
    The best way to remind your SOI that you sell real estate is to:
    • A. 

      Call everyone you know at least once a month and ask for referrals

    • B. 

      Send out a monthly newsletter of your listings

    • C. 

      Wear your REALTOR pin everywhere you go

    • D. 

      Hand a business card to everyone you meet

    • E. 

      Send out a friendly reconnection letter with your business card and maintain contact afterwards

  • 10. 
    To succeed in an SOI business model, you should give up your other prospecting activities.
    • A. 

      True

    • B. 

      False

  • 11. 
    People you meet on a daily basis are not among your SOI.
    • A. 

      True

    • B. 

      False

  • 12. 
    You should strive to hand out as many business cards as you can at every social gathering you attend.
    • A. 

      True

    • B. 

      False

  • 13. 
    GoHow many people should you strive to include in your SOI?
    • A. 

      20

    • B. 

      50

    • C. 

      100

    • D. 

      200 or more