l Thursday Beers and Idears was great with our amazing panelists talking about how they grow their database. Thanks Lana Rodriguez, Tammi Stuart and Stephanie Ryder.
If there was one common thread that all panelists agreed on it was that you need to be intentional. That sounds great, but what does it really mean? How can we apply that principal practically in our careers. The first thing would be to start with a solid plan. Stop right now, or at least set a date in your calendar, and write down your plan. Be intentional about your writing your plan; don’t just start brainstorming on your own or with your best friend. Talk to people who are where you want to be in real estate. Find out what they’ve done, and write it down. Now that’s a good start to being intentional.
Get Your Database Into an Actual Database
As Stephanie brought up, many of us forget what’s right under our nose. Any sort of groups you’re a part of. Put everyone you know from those groups into a tagged database. And I mean a real one. Not your phone or your head….a legit CRM where you can set up a followup plan.
Identify Your Style
Lana Rodriguez says that you need to identify your style and I happen to agree. If there’s one thing you’ve got to love about your career, make it the thing you’re going to spend the most time doing. If you’re the one who’s going to be growing your database then make sure you love the method you choose to put into your plan. Again it’s being intentional. If you need some ideas on how you can do it, click here. Pick a few things that you’d enjoy. Run those by your mentor. Then start with the one that you and your mentor have decided will impact your business the most or will grow your database the quickest with the right people.
Weave it Into Everyday Conversation
Sounds simple, but why do none of us do it? It’s because it’s not easy. It takes being extremely intentional and often you don’t feel like you want to be “working” all the time. You’ve got to decide exactly how you want to grow it (be intentional) and how bad you want to grow it. If you can’t handle always thinking about growing your database, then you’ve got to be even more strategic and intentional during the hours you are willing to focus on it. I happen to be in the camp of NOT wanting to always be thinking about my database. But if you are someone who can, as Lana stated, weave this into their every day conversation you’ll find success quicker than those who are not.
Wair a Name Tag
People notice it and will ask about it. (Stephanie)
Talk to EVERYONE
Pretty self explanatory
Treat EVERYONE Around You Like They’re Human
With legit feelings, needs, and emotions that are at least as important as your own (Stephanie)
Don’t Take Anyone for Granted
You never know who someone might be or who they might know. Your leads/clients may come from unexpected places. (Lana)
Notice people and be available to them for ANYTHING (Tammi Stuart). That’s huge. It’s soooo simple, but not so easy. If you talk to psychologist, therapists and teachers you’ll find the same answer. Why is there so much depression, anxiety and even suicide? It’s because people are not known or noticed. Oh it seems like they are because we’re all supposedly more in touch through social media, texting, etc. But we don’t really see people or truly notice them as much anymore and it’s a huge problem. If you stopped and first, noticed people and then truly got to know them, not only would you drastically change some people’s lives (maybe even save some), but without a doubt you’d pick up more clients and damn loyal ones at that
5 Questions (FORD) make it less awkward.
Stephanie brought up… Family. Occupation. Recreation. Dreams Who wouldn’t want to talk about one of those. If someone asked me about my family, I’d start talking. Real Estate (occupation) I’d start talking. Mountain Biking, I’d really start talking. Get the gist? Just remember F.O.R.D. People want to talk about themselves, so give them the opportunity. They’ll talk. And then they’ll start to like you. As Tammi said, give 1st before you ask anything of them.
Be Excited About What You Do
People want to be around and work with positive people (Stephanie)
Look into the future
Just think about all the potential people around you. How many people in Colorado Springs…500k ish. And then how many real estate sides happened in the last 12 months. I think it’s around 30,000 sides. I’m not looking at the numbers, but I believe that would mean that if you’re around 16 adults, one of them will buy or sell in the next 12 months. One in eight would buy or sell in the next two years. One in four would buy or sell in the next 4 years. One out of 2 of them will buy or sell in the next 8 years. Now that’s an average, so maybe there there are only one in 4 that will transact in the next 8 years, but they’ll transact twice, like buy then sell. So if you can look at a room of 100 people you are looking at 50 transactions over the next 8 years, just in that room. That’s staggering. Every time you don’t get someone’s info, you’ve tossed away a 50% chance at procuring a closing in the next 8 years.
Do the Math
If you add 100 people to your database (that’s only 2 per week), then in 8 years you’d have a database of 800 people and should be able to close 100 transactions just from your database buying or selling. That’s not even taking referrals into account. Granted you’re not going to be able to get every one of the closings, but the potential is there. We’ll get into this in more detail on 9/19 at Beers and Idears, but you should be able to get another 5-7% referral rate, so with a database of 800 have mets, you’re talking an additional 40 closings from referrals. So even if 40% of your database that transact use another realtor, with the referrals you should still be at 100 closings or nearly $1,000,000 in GCI. Imagine what your life would look like if you added 4 people to your database every week. If you take weekends off, that’s not even one a day. Do you think you could add one person to your database 5 days a week? If you did this consistantly for 8 years and then followed up properly with them you’d me grossing over 2 million in GCI every year.
I Don’t Want to Weave It Into Every Day Life
If you’re like me and you don’t want to be intentional all day long. You want to shut off at some point each day and just be. Then as Stephanie Ryder says, you’ve got to be intentional about meeting influencers. You can essentially leverage your efforts by intentionally meeting and adding influential people to your database. Who are the influencers? There are tons of different types. But to name a few: Business owners, general managers, funeral directors, divorce attorneys, pastors, accountants and financial advisers. Think about people who have businesses where they know or can influence lots of people. Then get to know them and show them that you’re the best there is. Also serve them so much that they’ll never forget you, or better yet so much that they’ll never stop talking about you.
It’s Simple But Hard (everyone)
So why doesn’t everyone do this if the plan is clear? It’s because it’s super hard.
A FEW IDEAS THAT WORKED FOR THEM
- Pumpkin pie give aways… YOU DELIVER IT TO THEM
- Pumpkin pie give away… They come to you…less effective but more time efficient
- Client Appreciation Events. Have your clients invite their friends and family and get their info at registration and do raffles or give awayss so they have incentive to give it to you
- Trailer with that holiday’s decorations so people in your farm/database can come take seasonal pictures.
- Contractors/Vendors you use/know
- Social Groups
- Your facebook friends or groups (get their emails and phone #s and reconnect with them)
- Create relationships with builders