Is Neglecting Your Real Estate Database Killing Your Business?

Unless you have been hiding under a rock the last seven months, you would know that a little thing called COVID-19 has caused our real estate world to get flipped on its head–and in a good way. Crazy enough, a horrible pandemic has created the most insane market many of us have ever seen. Lenders are processing loans at rates they have never seen, and buyers are looking to literally “cash in” on the amazing selling and buying opportunities. I can tell you as a Title Company person, our people are seeing large sums of transactions come in every day with no end in sight. It’s a great problem to have, but when this occurs for all of us, something else does as well. We start to neglect our real estate database as we don’t have the time to spend properly marketing back to them. The other issue is with COVID, it creates a barrier from doing the face to face events with our database we are used to. It’s time to get creative and start marketing back to our databases because ALL of this…will end. What is your plan going forward when rates rise up and the market normalizes?

Make a Plan

I get it…you are making a killing this year. Your best year ever perhaps. What is your plan once the market shifts and there is a return to more of a “normal market?” Over time we will have a solution for COVID, some levels of normalcy will return–and along with it, higher interest rates, and the balance of buyers to sellers in the market. Traditionally, the majority of a Realtor’s business comes from their sphere of influence. People who you know, like, and trust. With business being so hectic, along with other distractions, (kids, homeschooling, etc) there can be little time to stick to that marketing plan you created back in December 2019. The long term problem of all this, it’s killing your real estate database.

It’s time to make a plan and get back to what you put on paper at the end of last year. Start this process now, so you are ahead of the game in the Spring of 2021. I know it sounds a little premature, but realize you were off your game with marketing to your sphere most of this year so you have catching up to do. The face to face events you were planning on doing is probably out the window but you can still do events that get you in front of your sphere virtually or socially distanced.

Client Event Ideas

Shaved Ice Event-Slushy Truck
Pie Event Pick Up for Thanksgiving (have a photographer take pictures)
Zoom-Market update Event-State of the Market
Videos to clients over Bomb Bomb or YouTube
Text Videos to Sphere thanking them for business.
Zoom Home Selling or Buying Seminars. Have your Sphere sign up via Zoom registration link
Direct Mail Monthly Newsletter
Make 10 phone calls a day to your sphere to “check-in.” Build a relationship.
Update your real estate database in your CRM and re-categorize people then reach out.
Do a food drive with your SOI and tell them you will come by and pick up any canned goods they have to donate. Leave them in front of the house.

Take Action

The ideas I provided above aren’t super complicated, but taking action to put the wheels in motion is important. DOING the activities necessary to connect and get back in front of your real estate database will reap you many rewards this winter and next spring. Your real estate database more than likely makes up a large portion of where your business comes from. Make a plan and take action to strengthen those relationships so when the market does shift, you are ready!

Partner with Stewart Title

Does your Title Company help you market your real estate business? Do they actively reach out to find out what else you need going forward that results in your success? That is where Stewart Title comes in. I work directly with my Realtor clients to make sure they are as successful as possible. If you want to connect and learn more about how I can add value to your business, fill out the form below!

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DCTitleWade1

Senior Vice President of Business Development at Pruitt Title

I'm the Senior Vice President of Business Development for Pruitt Title in the Washington DC/Northern Virginia area. I help my Realtor and Lender partners grow their businesses with offline and online marketing solutions. More eyes to them mean more business. I create the win/win!