Database Creation & Management The Heartbeat of Your Business Here s a secret You can NEVER have too many leads! Question: What kind of tracking system should I use? ANSWER: The one you ll USE!! 1
CRM options Outlook Excel My RE Tools Market Leader Realty Juggler Paragon Top Producer, Agent Office, etc.. Make contact Input into database Systematically touch People you ve met Your touches should be about: Seeking business/referrals Seeking repeat business Strengthening the relationship You ll most likely be spending a good amount of time in the 3 rd category Target Group Haven t Met Group General Public Haven t Met Group Network Met Group Allied Resources Business or Social Groups Refer Business Raving Fans Advocates Geographic or Demographic Business Leads Core Advocates 2
People you haven t met Identify target group ADD Market Track results Make contact, etc., etc. THEN Systematically market to your database Real estate sales is a contact sport. The best players believe it is a frequent and systematic close contact sport. To succeed at a high level, you must commit to frequent contact with your database with the intent of building close relationships. Approach it systematically to be absolutely certain that it gets done. Strategy Overkill! Adopt of method of staying in touch with your METS & HAVEN T METS consistently, depending on their category in your database. Once you establish categories, determine how often you ll make contact. New database additions: at least once a week for 8 weeks; then into at least once a month. Mix up your touches with face-to-face visits, phone calls, mailings. Don t forget items of value. 3
Sample Initial Dialogue Hi there! How ARE you? I haven t talked to you in a long time how is your wife? And the kids? What have you been up to? Say, did you get my intro letter? What do you think, am I going to make a good real estate agent? Speaking of which, I m trying to build my database and I was wondering if I could add you to my Preferred Client List? I promise not to spam you, just want to touch base with you once in awhile, maybe with some market stats and such, would that be ok?? Follow-up dialogue Hey, how are you doing? Did you happen to receive the I sent to you? Great! What do you think? Do you have any questions? Listen, I know YOU RE not in the market right now, but of all of your friends and family, who would you guess might be the NEXT one to need to buy or sell? Follow-up dialogue Hey, how are you doing? How s your family? Listen, I know YOU RE not in the market right now, but I just wanted to let you know about the GREAT buy I came across today while I was previewing houses I think it s about $10,000 under-priced and it would be a GREAT investment property. Can you think of anyone who might be in the market for a really hot buy? 4
Year round contact Combination of e-mails, mailings, letters, cards or drop-offs at least 1 per month. At least 6 thank you or thinking of you cards. At least 3 phone calls At least 2 birthday touches (husband & wife) At least 4 holiday cards ratios The Research Mets: 2 net sales from 12 Haven t Mets: 1 net sale from 50 Plan for generating leads Schedule time each day (preferably 2 hours) when you are strictly committed to obtaining leads and adding to or updating your database. GUARD this time! Avoid the roller-coaster effect everything you do today will show up in 90 days, so always be feeding leads into your pipeline 5
Database management Prospect and Market Set Up a Database and Feed It Systematically Market to Your Database Leads are fuel to your economic engine Prospecting & marketing Yield 3 types of business: New (from people you haven t met) Repeat (from people you ve met) Referral (most likely from people you ve met) Set up database & feed it Be consistently evaluating the size of your database and the names in it. Think of it as a living thing that will need constant feeding to be kept alive. Categorize it Feed it, fatten it, but, whatever you do, don t put your database on a diet! 6