Having a strong database has always been important, but maybe not as important as it is right now. With the real estate market essentially doing a 180 over the course of 7 months, shoring up those strong relationships is a must, but so is adding new people to grow your real estate database all the time. There are several ways to expand your database right now and over the course of the next few months to really hit the Spring market running. Hopefully, you find these strategies valuable to your business.
Adding the Other Side of the Transaction
Look at your real estate business since 2020. How many homes have you sold from either the buyer’s side or the seller’s side? Once the transaction closed, did you think to put the people on the other side of the transaction into your database? According to NAR, roughly only 16% of people use the same Realtor twice. If you know that 84% of homeowners are going to use a different Realtor the next time they buy or sell, it makes sense to send them home sale anniversary cards, and invite them to all your client appreciation events. By adding in these additional people, your database could go up by over 100 people overnight.
Client Appreciation Events-Bring a Friend!
When I speak to my Realtor clients I always ask them about when will be their next client appreciation events. These are very important to get back in front of your sphere of influence and top prospects. Go to your top 10 “A” clients and have them personally invite either a co-worker, friend, or neighbor to your client appreciation events. This is a great way to have someone from your sphere who thinks of you as a rock star “sell” you to potential clients to add to your database. If you are doing 2-3 client events a year and get 10-15 extra people to attend every single time, your database will really grow.
Download LinkedIn Contacts
As a busy working professional, you more than likely have a LinkedIn account. Did you know you can download your LinkedIn contacts into an excel spreadsheet? I realize many of these people may not be in direct relationships, but we do know these people are choosing to be connected to your professional and they have jobs, and in many cases, good ones. Take these downloaded contacts and put them into your real estate CRM. Add these people to your drip campaigns and of course…invite them strategically to your in-person client appreciation events.
If you are in the Brian Buffini program you may already know about the “Mayor Campaign” but it can be very effective. How many people do you interact with in a given week who are outside of real estate? Set a goal of adding five people a week to your database. Here it goes:
If you were buying or selling a home or had a friend or family member who was, do you have an agent you would refer them to?”
NO: “Well, I’d like to be that person, and from time to time I come across valuable real estate information that everyone finds helpful. Would you like to receive that? [Sure]“OK, great. Where’s the best place to send it? [Probably my home address] [123 Main Street]
Using these four ways to strategically grow your real estate database in 2023.
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