English
Relationship Strength and Reciprocal Value
Tie strength, S, is a function of time, emotional intensity, intimacy, and reciprocal❓ services: S = f(t, e, i, r), where t = Time spent together, e = Emotional intensity, i = Intimacy, and r = Reciprocal services.
Allied Resources act as bridges between different networks. Their value is influenced by their betweenness centrality in the overall social❓ network.
Betweenness Centrality (CB(v)) for a node v is calculated as: CB(v) = ∑s≠v≠t (σst(v) / σst), where σst is the total number of shortest paths from node s to node t and σst(v) is the number of shortest paths from s to t that pass through v.
Referral Exchange Rate (RER) = (Number of referrals❓ Received / Number of Referrals Sent) * 100. Negative experiences can lead to reputational contagion.
The 33-Touch program leverages the psychological❓ principle of priming.
Perceived Reward Value (PRV) = (Actual Reward Value / Effort Required to Provide Referral) * Subjective Value Multiplier
Customer Lifetime Value (CLV) = Σ [(Profit Margint * Retention Ratet) / (1 + Discount Rate)t]
Chapter Summary
Relationship tiering (Allied, Advocate, Core) uses social network theory❓ and reciprocity to optimize referral generation. Allied resources are weak ties, accessing a broad network of potential clients (homeowners) through mutually beneficial exchanges like client referrals❓ and service recommendations. Agent recommendations influence consumer choices.
advocates❓ (past clients) demonstrate cognitive consistency and positive reinforcement. Their loyalty and referrals are maintained through positive experiences, personalized communication (33 Touch program), and reciprocal rewards. Systematic follow-up combats memory decay.
Core Advocates are strong❓ ties and high-value network nodes. Cultivating these relationships relies on trust, competence, and tailored value. Social exchange theory dictates equitable exchanges in long-term relationships. Personalized interaction frequency (dinners, calls) leverages social bonding. The objective is to embed the real estate agent within the Core Advocate’s social and professional network, facilitating sustained leads.
