The 15-Minute Huddle - 10.1.2018 - Clean Up Your Databases

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Has this ever happened or have you heard that it happened to someone else?  You finally decide that you’ve heard enough about the importance of reaching out to your database; the centers of influence and past clients? You know logically, that by calling that you can generate business or referrals. 

The big day comes, and you pick up the phone:

YOU: “Hi Mary, Mike Husson here… how are you?  (Great…) I was just calling to check in and see if you know anyone looking to buy or sell real estate?”

THEM: ”OMG, I totally forgot you were in the business Mike…and I feel so bad…I thought you got out after not hearing from you for ____ (fill in the blank now) years and we just bought a new home after selling the one you sold us and my sister wanted to move near us and she did the same…and you know how close our family is … my brothers are making a move too!”

Now…after you get up off the floor you say… ”Good for you!  I’m so! @#$%#$@!@ ☹  Happy for you…weeeeellll I’m STILL in REAL ESTATE…maybe next time you’ll think of me when buying or selling… all the best in your new homes with ALLL of your brothers and sisters! Bye now~”

Sound possible?  ____ Yes ___ No ___ its happened to me ___ No not yet  __ I don’t believe it would ever happen, you’re making this up

I know this seems a bit surreal … however, it will happen from time to time.  Sometimes  you can’t control it…it is what it is.

Even if it never happens… we should not be worried that it might happen. 

Point 1: Clean up your center of influence and past client databases and begin touching them.  Call them first, followed by an email or “snail mail” or both.  If you’re out of sight …you’re out of their minds. 

***Key Points: Make the decision on this step.  If you're not going to call them and eliminate them from your database. Keep in mind that your database is the largest asset that you can have in your business, therefore, it must be taken care of like a precious metal.

Your COI – Center of Influence – SOI – Sphere of Influence – PC – Past Clients … who are they, what do they want, how can you help them (solve a problem), how can they help you, and how often do you communicate with them?

Who they are: These are ALL folks anywhere in the world and that you know, and they know you… by your first name. 

What they want:  They want someone in the real estate industry who is a resource – A Trusted Advisor

How you can help: Sell, buy, invest in real estate and as a resource as for industry updates

How they can help you:  Referrals - Be Your Raving Fan!

Out of sight out of mind! Our goal with our base of contacts is to keep you top of mind when the need arises for real estate services.  Frequent reminders are important…

(below are some of the many basic points on the technical and logical things to do)

But first… Having a database is critical…as noted above, it’s the largest asset in your business. However, I think folks in our business ONLY think about the “Just Reach Out and Touch Someone” game.  If we only think it's about calling and asking for referrals or business, we’re missing a whole lot of opportunity. 

Why not … ”Just reach out and touch someone?”

As it is… most people don’t even feel comfortable making those calls.  Because they feel like they’re begging for business, they are bothering someone, they’re embarrassed to admit they’re in real estate, it simply feels awkward or they are complacent.

The other thought is…most folks lack versatility when it comes to making calls to their databases. In other words, the driver doesn’t have the time; the analytical will overthink the process; the expressive is shaking in their boots and the amiable is worried about rejection. 

There are all kinds of reasons for not calling.  So, what’s the simple answer to maximizing the return and income from your databases while eliminating the fears of calling on people in them? 

Keep it simple with 2 thoughts: 

First… the easiest thing to think about is what is YOUR JOB?  What purpose do you serve in people’s lives?  Are you available when they NEED your services or need an answer to a real estate question? 

Don't worry about the outcome.  We worry that when we call our COI/PC that they will reject you when in reality…they don’t have a NEED or know someone …at that moment… who does?  It’s not your phone call …they just don’t need what you’re offering.  Make sense? 

Think about this:  You don’t eat 24 hours a day…you eat when you’re hungry.  You don’t fly or drive 24/7/365 … you do it when you NEED to.  You don’t go to the dentist 24/7/365 you go when you NEED to. 

The Key… is point 2:  It’s when they NEED something related to real estate and YOU haven’t been in their space and they forgot you because of “LIFE” … when that need arises … where do they go to solve their problem?  Someone else for a referral or Google!  They are not calling you…why?  Jeeeeez Louise… they forgot you or worst yet … you forgot them and so they go elsewhere. 

Then the very worst thing that happens is … you’re reading this and you decide…”that’s it, Mike is right…I’m going to start calling MY PEOPLE!!”  You make the call using your fancy scripts … and they say…

As I noted in the beginning... ”OMG, I totally forgot you were in the business…" 

Yikes… that’s a bite out self-esteem, self-confidence and a bit humiliation on top of it all. 

Why did that happen?  Your ego thinking they’ll remember you? Your fears because you don’t want to BOTHER people?  The last deal was a bit rocky (all of them are) and you were embarrassed?  Or you’ve been on YouTube, read a book, just left a seminar and you’re trying to put ALL the fancy ideas together with the… ‘only way to do business is by referral only training stuff.’

Is there a simple solution?  Yes… be your cordial self and make a call often enough to remind them...that's it.  “Hi, Mary,  Mike here…just checking in to see how things are…you good? (chit chat chit chat) Nice to hear…well I know you’re busy…I just want to remind you that the market for real estate is great and I’m still here.  Know anyone look to buy, sell or invest right now? (NO) and you…now’s a great time to invest?  Any needs?  (NO)  ok well, thanks… are you getting my monthly Real Estate News and Market Reviews emails?  (YES) Excellent! All right __NAME___ …, I appreciate you and any referrals…here for ya! Have a great rest of the day!”  NEXT!

 

1. If you don’t have your databases cleaned up and organized, start now to do so! Look wherever you can for contact info Let’s copy and back-up the data to an Excel or a similar spreadsheet.

 

2. Once you have a count … set up a calendar to begin frequent touches with you base. There are a few ideas that float out there on this, however, for now, keep it simple to get the ball rolling and call. You can get more creative later:  quarterly calls and monthly emails that are informative, market-centric and supportive education…even as little as a simple “Hello” can work magic. 

 

3. The location of anyone in your base is not relevant…it’s great to have people from all over the world as your ambassadors! Remember…when real estate is discussed in “their” conversations… you’re top of mind!

 

4. Identify folks on your list who can provide more referrals and communicate with them monthly… ask permission to reach out and send emails. If they like you even a little…they’ll be OK with your request.

 

5. Buy, Sell or Invest: Use all 3 when asking for referrals.  I start with: “Who do you know who?” and “How about you?”… SIMPLE!

 

6. When you get referrals… follow up right away and send the person who gave you the referral with call and a thank you note. Also, as you make progress or not with the person they referred to you…keep your referrer in the loop and constantly thank them for thinking of you regardless of the outcome!

 

7. Before, during and after: Always ask for referrals… I have many clients who have it pinned on their walls to always “ASK” for referrals at the end of each communication when they have transactions in process… no need to wait to do this!  They already hired you…didn’t they?

 

8. Your Vendors: contractors, mortgage, title, inspectors and many others that YOU refer business too can be an additional 5-20 deals a year!  How?  Ask 😊 … “Bill, I want to thank you for taking care of the people I refer to you and they always say…you do such a great job!  Thanks…much appreciated.  Bill, can I count on you from time to time to refer people that may be looking to buy, sell or invest in real estate?  Great!  I’ll keep sending you people as well…Thanks!"  (send a thank you note, keep in touch)

These are just a few ideas to get your databases working for you! Our goal must to have them always thinking of us when it comes to real estate! Print this list out and get at it right away!

If I can help you with this or any area of your business... Let's talk... https://bookafreecoachingcall.as.me/

Make it a great day NOW! Mike