Today’s Coaching Tip is all about how to maintain your database so you can use it to its full potential. If you’re not entering every new person you meet every day you’re throwing away potential opportunities and reducing the size of your pipeline. You can’t afford to do that if you want to be a great agent.
You then need to track on those clients so you can progress them into all the categories they belong in. Their status changes constantly and you must keep up with those changes in order to be relevant to them, and be there for them when they are ready to buy or sell properties.
Let’s say you speak with a buyer from an open for inspection and they tell you they just bought a property. If they bought inside of your marketplace, they then move into your potential seller category. Then you ask what they are doing with their current property so you can set up a market appraisal, and enter them into that category. Or if you speak with a buyer who bid at auction and failed to win the property then you know they are actively looking, so enter them into your buyer hit list because you definitely want to keep up with them. Remember, every client can move into multiple categories.
Know your numbers and track on them every week. How many people are in your database? How many are in each category? These are all opportunities and they change rapidly. And your opportunities increase if you progress people upward through the categories. Make the phone calls and know what you need to do next with each client by keeping your database current.
Becoming a great agent is a decision, and you have to commit to doing the necessary work to make that happen. Only 10% of market appraisals progress into listings, so you must do as many as you can to realise the 20 to 30 listings per year that you need. If you’re not getting enough listings then get to work on leveraging the power of your database. That means daily database maintenance – entering every single person you meet, categorising them, and then tracking on them so you can progress them through the categories.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.
This is a great tip. I’m good but maintaining the daily discipline to capture, call and update is my challenge! We’re establishing a new email and hard copy marketing plan. Can you provide tips on this please?
Thanks Tony!