Is Your Database Automated or Non-Existent?

February 17, 2017

Transaction Strategies

When I ask real estate agents about their database of clients and prospects, they give me one of three responses:

  1. they use a database management software program, like Top Producer or RealtyJuggler consistently and they know their numbers;
  2. they have a list of clients in a database, but they don’t have much information in it;
  3. they don’t have a database of past clients at all and prospect leads are in their planner or on post-it notes (who knows where).

Which answer would you give?

Managing your database of clients and prospects is critical in today’s market. You need to continually learn more about your clients, even after they’ve been through a transaction with you.

Everyone is constantly going through changes in their lives.

Not to generalize, but many people buy several homes through their lifetime, not including possibly helping parents or children with their purchases.

What this means is you need to keep in contact with your clients as their lives change.

Let them know that you’re there to be their real estate resource. Sometimes people just need to get their questions answered, so they don’t make a wrong move. If you surround yourself with ancillary professionals, like contractors, insurance agents, lenders, etc, you’ll be better able to service your clients.

Back to building your database; if you don’t use Top Producer (system I used in the past – got too expensive – $40+/mo) or RealtyJuggler¬†(system I currently use – $99/year), etc, then at least formulate a list of your clients and prospects on Microsoft Word or use an Excel spreadsheet. At the very least, fill out 3 x 5 cards and rubber-band them together as clients and another as prospects.

Detail each client’s information with what their future plans may be for their next home. That way you can keep an eye out for them over time and when the timing is right, share your findings with them. Also, know the names and ages of their children and pets and what hobbies they like. It makes it a lot easier to chat with them when you call instead of just asking for a referral.

When talking with prospects, find out as much as you can about their likes and dislikes in a new home. Also, learn about their job and personal life as appropriate. The more you know about a prospect, the more comfortable they’ll be with you and you’ll have a better chance at helping them buy or sell.

As you’re talking with people write down as much as you can about your conversation and as soon as you’re finished, make a record of all your notes. That way you won’t forget anything the next time you speak with them and they’ll be impressed that you remembered certain tidbits.

One additional point to discuss about database management is:

if you have a database of more than 200 – 300 names, how up to date is your list?

Would you be comfortable calling every name on the list? Would those who you’re calling remember who you are? If no, it’s time to pare down your list.

Focus on keeping your best clients and those who are most likely to refer you and/or do business with you again in the future.

Click on RealtyJuggler for more details and learn how to get a 90-day free trial and when you sign up, you and I each get two additional free months.


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