The 7-Year-Itch Rule: Forget About It

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Education & Training with MarQeteer

7 Year Itch

Forget: The 7-Year-Itch rule that states “the average homeowner moves once every seven years.”

Remember: The average homeowner will probably need you once, maybe twice in their lifetime.

There’s hardly a day that goes by where I don’t encounter real estate pros who “purge” their database of people who haven’t return contacted them in the past, say, 90 days. In years past this may have worked, but considering the resources for long-term contact that we have at our fingertips today it’s an almost ludicrous strategy.

With the CRM technology available to salespeople of all realms, there is more power in the hands of the individual today than ever before. Sales has always been a “numbers game,” but how you manage those people-formerly-known-as-numbers in your database is more important now than ever. CRM’s make it easy and very affordable to maintain long-term contact with a larger database than you’ve ever been able to manage previously.  There's a ton of them from Sharper Agent to Market Leader to RE proprietary programs like Keller Williams' My Red Tools.

When long-term email drips are used properly, they’re a valuable tool for maintaining long-term contact. CRM’s make email drips easy. Don’t purge your database…that is your marqeting microcosm! Instead, make sure everyone in your database is receiving some kind of monthly email drip to let them know you’re still there.

Forget: The “7-Year-Itch” Rule that has been pounded into our heads for the past 2 decades and states that “the average homeowner moves every 7 years.”

Thinq realistically: The average homeowner will need you once…maybe twice in your lifetime. Based on this alone, you need a lot of people (thinq in thousands rather than hundreds) in your database.

Remember: If you purge your database, you’re shrinking the number of people who will be aware of you  and you’re making it easy for those people to assume you’re no longer in the business.  It's just way too easy to manage a larger database these days.  Your database is your own marqeting microcosm of people who will, over time, become familiar with, comfortable with and ultimately care about your name in whatever business realm you’re in.

Time can build credibility inherently.  The 80/20 rule of sales is no secret to today's consumer and it means a lot that you're still on their radar a year later and longer.  The more people who know your name, the more opportunities you will have to forge the honest, long-lasting relationships you want with them.  If you’re new to CRM’s and could use some suggestions on what to look for, drop me a line:)

Today's consumer is making contact earlier and earlier in the decision making process, so it's more vital than ever that you're set up for long term follow-up.

 

For creative marqeting solutions and vocabularian witicisms, visit me anytime at www.marqeteer.com.

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Rainmaker
1,282,998
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Mark, you are correct.  Also, past clients give referrals as well.  Keep in touch with them.

Jun 11, 2010 04:31 AM #1
Rainer
94,815
Billi Evans
Murney Associates - Springfield, MO

Good thoughts. I can't imagine purging my data base with the storage capability of today's computer.

Jun 11, 2010 04:36 AM #2
Rainmaker
75,256
Mark Boyd
MarQeteer - Lancaster, PA

Edward, Celia and Billi,

Thank you so much for your thoughts.  I'm a proponent of the individual and it's amazing what the individual can do with today's technology...liberally mixed with a true love for people:)

Cheers,

Mark

Jun 11, 2010 04:39 AM #3
Rainmaker
1,356,051
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Terrific post...the long tail view is definitely the one to take.  

Jun 11, 2010 05:23 AM #4
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