Increase your ‘Whuffie Factor’

At RE Bar Camp Philly on Wednesday, I attended a session called “WTH is Whuffie?” by PAR member Bill Lublin.

Lublin (@billlublin) referenced a new book on the market called “The Whuffie Factor” by Tara Hunt. Whuffie is defined as social capital. Hunt defines a social capitalist as “One who builds and nurtures a community, thereby increasing whuffie.”

The way I interpret whuffie is it’s your online reputation. As REALTORS® using social networks, your whuffie factor increases as you build relationships with current and prospective clients by offering them useful information about your area. Your whuffie factor decreases if you use social networking to directly market your listings.

Lublin mentioned three main points Hunt makes in her book:

• Stop talking and start listening
• Get into the community
• Figure out what communities want to hear

The key to whuffie success is to “pay it forward.” Just like in the movie, do something good for someone else without expecting something in return. This can be as simple as commenting on a blog or posting a link on Facebook about anything relevant to your community. The better your reputation is in the community (both online and offline) the more likely you will receive business referrals and other positive circumstances for your business.

Follow “The Whuffie Factor” on Twitter.