You may know maintaining a database is important, but do you know HOW important? And why? And what does that really look like?
As a coach with a new realtor client in my schedule, one of my first tasks was to determine if the agent had a clearly defined system to take care of their past clients and center of influence. More often than not, the answer was ‘no’.
Without fail, small but clear changes made to this area of one’s business would be the first place we’d see significant growth. Sometimes that one change would DOUBLE someone’s business.
To really execute systems for these past clients and COI, they have to be in a database and organized in such a way that the system can be meaningfully executed.
Organizing and creating a database can be tedious, time consuming, and confusing, so agents simply avoid tackling it. The cost is not only business they miss out on now, but future transactions, future repeat and referral business. Even worse, at the end of a long career in the business, their ability to sell that book of business is absent. It’s hard to overstate the cost.
If You Read Nothing Else – READ THIS!
As evidenced by the 2013 National Association of Realtors Buyer & Seller Report you’re not alone in struggling to maintain a strong database and system. These stats tell a story:
- If 73% of buyers said they would use their real estate agent again, why do we only see that 18% of repeat buyers used the agent they used previously?
- If 65% of sellers said they would use their real estate again, why do we only see that 25% actually do?
- Consider that 42% of buyers and 34% of sellers used the agent referred to them by a friend, neighbor or relative. Further consider 66% of both buyers and sellers only talk to ONE agent before making a selection. We want that to be YOU!
There’s Gold In Them Thar Hills
Whether you are a new agent and you’re wanting to get off to the right start with managing your contacts, or you’re a seasoned agent and you know this is an area that you might improve, we want to help.
The goal is twofold. First is to help you organize your contacts, and secondly to help you create and execute a system to stay in touch and top of mind with them.
Tuesday, July 29th from 1:30 to 2:30, I will be conducting a workshop so that we can talk about ways to organize your contacts, and then show you a system so that you can effectively work that group to generate repeat and referral business. If you are interested in creating a practice that is consistently keeping you in momentum, this is one you do not want to miss.
CLICK HERE to rsvp on Back Agent. See you there.
To your success.