Increasing Return from your Database

By
Education & Training with Your Coaching Matters

This time of year is an ideal time to review your database. Many refer to it as Past Client/Center of Influence list. How many people are in it? Who are they? Did you reach all of them this year by phone, by mail, and by email? If not, it's time to do that NOW before year end. Thank them for their buisness and referrals and ask about their real estate plans for 2011.  There is GOLD in those people if you'll just sift it!

Speaking of databases, some pure numbers may help you understand why you need to have one and work it hard.  Most of us have heard the average person moves every 7 years.  In some areas and times, that number has been closer to 4 years, in others the average is closer to 10 years or more.  Let's assume it's 10 for this example.

If you have 500 people in your database and they will all move, on average over 10 years, that is 50 potential sales per year from that group, right? If you have 200, that's 20 sales.  If you have 1000, that's 100 potential sales.  See how the pure numbers are compelling?

But how do you get any group of people to contact you when they are ready to move?   Chances are, you aren't making that happen.  The truth is, when the decision is made to move, unless they know you WELL, they may just list or buy through someone that just called them, or a neighbor's friend, or someone who's sign is in the area, etc. You may be the BEST agent for them but if they don't think of you at that critical moment, you may lose a potential opportunity to help them!

So, how do you increase the odds?  Here's a list of suggestions:

1. It's going to take time.  Start the list and add to it daily.  Have a goal to add X # of people per week into your database. Set a goal and work toward that goal.  In 2-4 years, you can expect a good return to begin and become excellent in 5-7 years.

2. Contact everyone in your database a minimum of 4 times per year by phone.  Try to catch them on the phone, but if you can't leave messages. Something friendly and educational.  "Thought you'd want to know there were 10 sales so far in your neighborhood this year. If you'd like a list of them and the details, let me know!"

3. Contact everyone on the list by mail at least 4 times a year. No recipes! It should be about real estate AND about you. Even a postcard is fine if your budget is limited.

4. Consider a SHORT email update on real estate sent to the list monthly. I don't recommend a newsletter you buy, but something SHORT that YOU write. If you just can't write, a bought one is better than none, but will not have the impact of the personal email.

5. Physically meet with your top 10-25 people each year. Those you think will buy/sell in the next few years or those that have access to lots of potential referrals for you (attorny, accountant,  hairdresser, etc.) Meet for coffee, or drop off a promotinal piece rather than mailing to them, offering a free mortgage analysis, whatever. Get in front of them dressed professionally, name tag, etc. HAND them 5 business cards to pass on.

6. However you are contacting people, Offer SOMETHING for free that they will want. When you get them to accept a FREE offering, your odds of them remembering you at a sales point, go up dramatically. Get them to CONNECT.  Read FREE by Chris Anderson and consider reading What Would Google Do by Jeff Jarvis.

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Information and content in this blog is original to Donna Stott.

 

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Donna Stott

Your Coaching Matters

Based in Roswell, Georgia -   Serving all of North America & Hawaii

Moving you forward from where you ARE to where you WANT TO BE!

 

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Steve Merson 512 412 1621 12/06/2010 08:31 AM
Topic:
ActiveRain Community
Tags:
past clients
database
business planning
sources of business
business systems
coi
centers of influence

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Rainmaker
736,606
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Having a database is HUGE... I started one in the early 90's and kicked myself for not doing it sooner....  Having And Using one the right way is the key to long term success... and managing it on a regular basis, it can quickly get out of date and stale if you dont!

Dec 06, 2010 08:29 AM #1
Rainer
269,330
Steve Merson 512 412 1621
Keller Williams Realty - Austin, TX
CNE, e-PRO

Hi Donna,

Thank you for that excellent post. It certainly is worth contacting everyone on your database on a very regular basis.

Steve

Dec 06, 2010 08:29 AM #2
Rainer
13,168
Donna Stott
Your Coaching Matters - Marietta, GA
Passionate Teacher / Lifelong Learner

Thanks for the comments. Always appreciated! My other blog is at http://realestatesilverlining.blogspot.com/ - sign up for GOOD NEWS!

Donna

Dec 06, 2010 12:03 PM #3
Anonymous
Rose Pagonis (RE/MAX Professionals Select) Chicago area
Hi Donna: Great article. I'm in the process of contacting everyone right now in my database for the holidays. Thank you for the reminder of why it's so important. Rose
Dec 07, 2010 12:08 AM #4
Rainer
334,174
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

Donna very good news and the importance of a good DB. which one do u use. Im looking into Advantage XI. the expert david hall suggested it.

Mar 02, 2011 06:11 PM #5
Anonymous
Donna Stott

I'll be running a course on Maximizing returns from your Database in April if anyone's interested. Just email me at donna.stott@yourcoachingmatters.com

Mar 09, 2011 05:48 AM #6
Rainmaker
512,911
Lisa Wetzel
RE/MAX Realty Affiliates - Carson City, NV
CDPE, SFR carsonvalleyland.com

Its a matter of talking to as many people ... in whatever form ... as possible!  Great post!  thanks for sharing!

PS  Happy Birthday!

May 11, 2011 07:07 PM #7
Anonymous
Donna Stott

Thanks Lisa for the Bday wishes.  In answer to one other question above. I have a Leads Database in the cloud I offer to my clients and use myself too. I also will be using Bento with my new computer I brought home for my Bday yesterday when I get it set up!

 

the Datbase class i offered in April went well. If you want details on the next class and testimonials from the last one, let me know! donna.stott@yourcoachingmatters.com

 

Donna

 

May 12, 2011 11:08 AM #8
Rainmaker
1,786,704
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in North Kingstown RI and beyond

Great ideas for all to remeber Donna...you should post more...i know people would be eager to follow you!

Mar 16, 2012 10:10 PM #9
Ambassador
837,155
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Hi Donna we lived in Marietta for 20 years before moving to the mountains. So I enjoyed reading your post. You may want to see kahy sheehans posts as I think she will be hosting a meet up in Buck head soon

Mar 17, 2012 04:38 AM #10
Rainmaker
192,707
Cynthia Grimes
eXp Realty, LLC - Westminster, MD
"With You Every Step Home!"

Great post Donna!  Thank you for giving the reminders of the best things to do with our databases!!  Happy Thanksgiving to you, Mike and your family!!!

Nov 12, 2015 08:08 AM #11
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Donna Stott

Passionate Teacher / Lifelong Learner
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