Some of the most commonly neglected sources of a REALTOR's business are past clients and those in their center of influence (your Book of Business). These are people you have either worked with in the past or who know you are in the business. Or in other words... those who know, like, and trust you...When worked properly, these people will produce substantial new business for you on a consistent basis.
An aggressive plan to increase your list business should result in a sales boost of 10 percent to 20 percent of your database. If you have 200 people in your system, that is a minimum of an additional 20 sales each year; you can clearly see the benefits of mastering this system.
Before you can effectively use this system, your database must be well organized. There are many different database management systems, but the key to any of them is that you must be able to easily print mailing labels.
The more contact information you have on your people, the more efficient this system will be for you. Make sure to gather everyone's home phone, work phone, cell phone and e-mail address.
First Have the Right Mindset -Before discussing specific ideas to
implement, it is important you have a good mindset in place concerning working your past clients and centers of influence. To successfully get huge amounts of referral business, it is imperative you develop strong relationships with these people. Any time they think about real estate, you want them to think of you.
Everyone has professional people in their life they call upon when necessary; we all have a doctor, a dentist, a lawyer and an accountant. Yet very few people have a real estate agent. The reason is that agents rarely take the time to cultivate that relationship. So make this your responsibility, and the result will be lots of loyalty, lots of business and lots of commissions.
By following the system below, you can train your list relationships to always think of you whenever they are involved in a conversation regarding real estate. The idea is, you are not just asking for their referrals, but you are providing great services and benefits to them directly.
For best results, use at least half of these eight proven techniques:
1. Call the entire list 4 to 6 times a year . Remember, your objective is to become their resource for everything real estate related. Consider the following flow for your list calls:
First: get personal / build rapport (How are you? How is your spouse? How are your kids? How is work?)
Second: discuss their real estate needs (Have you ever thought of buying an income property? Do you need to re-finance? How can I help you with your real estate needs?)
Third: ask for referrals (Who do you know that I can help buy or sell now?); it is critical you ask for business.
The length of time you spend on each call will vary based on who you are calling and how often you speak to them. It is normal the first time you call through the list your conversations will be fairly long. This is fine as it is critical you are building rapport and talking about real estate with them.
2. Mail something to them every month. -Examples include: Items of Value, Postcards, market updates, newsletters, just- listed cards, just-sold cards and charitable notices. Always refer them to your website. Also, offer them free reports on how to increase the value of their home, how to get rich investing in real estate, how to stage their home, etc.
3. Pick out your best people and label them as your "A" list. -These are your best clients and your best friends. These are the people who know the most other people; they are "connected" and can provide you the most amount of referrals. When you say to them, "I need your help,? they respond, "What do you need?"
Ask each one for at least one deal in the next 12 months and hold them accountable. Call and say: "Hi, you are one my best clients. I want your help in building my business. I know you know a lot of people. I want you to commit to finding me one person in the next 12 months who will absolutely use me to buy or sell a home. Will you help me?"
The key with this method is, you call these people every single month and remind them that they committed to helping you. This is a bold thing to do, but it works. This is definitely one of the most profitable ideas you can use to boost your business.
4. Send 12 e-mails a year to your database. - You can send out simple reminders for your people to think of you, or send updates and newsletters. (Make sure to have a plan in place to gather the e-mail addresses you are missing). The beauty of this point is that e-mailing your database does not cost you anything.
5. Schedule at least one lunch meeting per week. -It is critical you get face-to-face with one of your best past clients or list relationships. A spin on this idea is to have them invite one of their most influential friends to come along. This is a fabulous networking opportunity and a perfect way to add new people to your database.
6. Consider throwing a holiday or client appreciation party. -This is a perfect way to gather your great friends and clients together to thank them for their support and referrals. There are many ways to have a party. You can do a great party in your home or at a local country club. Many agents get creative and do theme parties like casino nights or costume parties. It may cost a lot of money to throw a great party, but the event will easily pay for itself with the referral business it will generate.
7. Send out handwritten notes to your database. -In this high technology world of e-mails and form letters, it is important to still maintain a personal touch . A simple way to do this is to send out a handful of handwritten notes each day. Almost every hand written note you send will be read...there is no bigger bang for the buck than a hand written note. Use them and watch your response rate soar!
8. Do "pop- bys" to your database. -A drop by is simply going directly to your list's home or place of business unannounced. The idea is just to stop by and create a face-to-face contact. Say, "I was in the area and thought about you. I figured I would stop by and shake your hand and see you." Spend a few minutes talking and then move on to the next person. You can "map out" where your people are and see many of them on any given day.
When serviced regularly and enthusiastically, your past clients and enter of influence people will be some of your strongest sources of business. You will be able to consistently produce deals from these people in any type of market. Focus on providing great service to them, and the business you receive in return will be one of the best foundations of your business.
Eddie Brown 2010
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