What is the best source of new listings according to real estate principles?

The sphere of influence is considered the best source of new listings because it encompasses individuals and contacts that an agent or broker already has a relationship with, including friends, family, colleagues, and past clients. These connections are valuable as they often lead to referrals and recommendations, creating a trust factor that can encourage those within this network to either list their own properties or direct potential sellers to the agent.

This method is highly effective in real estate as it leverages existing relationships, which typically leads to higher conversion rates compared to cold leads. Agents who maintain and nurture their sphere of influence can count on a steady flow of referrals, as individuals in this circle may remember the agent’s services when it comes time to buy or sell a home.

While other options may provide listings, they often lack the same level of trust and personal connection that a sphere of influence cultivates. For instance, "For Rent By Owners" can indicate potential sellers, but the information might not be consistent or reliable. Selling seminars can provide education and networking, but they do not guarantee listings. Expired listings indeed present opportunities, but they are based on previous market exposure and do not offer the same personalized approach that can yield successful transactions repeatedly.