Real estate business

10 database strategies to grow your real estate business

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When was the last time you cleaned your closet? If you’re like most of us, not lately! It takes time, sorting, cleaning and organizing to get the job done. It’s a bit like having a garden where there is a recurring demand for pruning, weeding, and constant attention. Would you believe these same activities apply to pruning and regularly updating your customer database?

When interviewing agents, it’s always surprising to learn that:

  • Many agents admit that they don’t have a really organized database
  • They have some kind of database, but rarely spend time working with it
  • They have software that hosts a database, but doesn’t use any type of engagement strategy to keep contacts nourished and viable.
  • They do not implement any strategy for continuous database growth

Any successful business knows that your customers are your most important asset. The buying or selling process does not end at closing. When nurtured and nurtured after the sale, your customer relationship opens the door to easier prospecting, endless referrals, and repeat business.

In case you haven’t thought about why it’s important to keep your current customers, here is a statistic that will convince you: SourceLink.com reports that even “a 5% increase in customer retention can increase profitability by 75%”! So why not take care of those clients and clients who already know, love and trust you?

Updated January 25, 2017: As technology provides new services and methods of disseminating information, your options for connecting with your customers and maintaining professional relationships also increase. While the strategies on this list are as valid as ever, new options have emerged over the past few years that can enrich your CRM toolkit.

  • Video content will be king in 2017 – it’s always easier for customers to put a face to the name if they can see you in short videos embedded in your emails, on your website or on your social media accounts. Many real estate agents are embracing video as the best way to showcase not only their best listings, but their profiles as well. Nothing can ever surpass the benefit of becoming a recognizable face in your community, especially when it comes to your business.
  • Personalized communication makes you an authentic resource – people want to be treated as unique individuals, not as members of a demographic group. The best agents agree that real estate is less about properties and more about people. Listen to your customers and the stories they tell you, and engage them with those personal connections. Professionalism is highly valued in cold business, but the personal touch is what allows you to close the deal and leave a mark with your customers. It’s the best way to keep them engaged.
  • Tell a story with every interaction – While online communication was once focused on delivering information in a quick and rather dry manner, recent research has shown that people respond much better to stories than to cold facts. When reconnecting with customers, try to condense a little story in your email, make them feel like during the time that you haven’t been in touch, a lot of interesting things have happened that they would love to hear. speak.

These new developments in lead nurturing and client management are improvements and new directions for your overall plan. here are the 10 best strategies to help you take good care of your customers:

1) Customers are your most important asset – you need to understand that they are essential to the growth of your business.

Closure may signal the end of a process, but it is the gateway to future business. You need a program that will provide consistent and systematic contact features that deploy relevant information to keep your brand and name on the top of the list. There is countless real estate software available to help you organize your contacts before, during, and long after a deal closes. Explore your options to see which platform works best for your business.

2) It is easier to sell to an existing customer.

According to MarketingMetrics.com, you have a better chance of selling to an existing customer (60%) than to a new prospect (the percentage drops from 60% to 5-20%). Take at least one day a week to work on your database. Start from your current year and work backwards to organize, review, and upload customer information so you can begin the process of contacting, interviewing, and informing.

3) Save 5x the marketing dollars.

Forrester Research reports that in today’s market, it costs five times more to acquire a customer than to retain current customers. Customer retention is the next step in relationship management and lifelong customer retention. Customer relationship management (CRM) is a key step that you need to nurture and continually maintain strong relationships with this important segment of your database.

4) Build your database effortlessly, cheaply and easily.

Many agents are so busy working with current prospects that they cannot keep up with prospecting for new customers. If your current website is not running 24/7, you will lose the benefit of prospecting and marketing. Be smart and choose an effective website to manage your prospecting leads with lead capture features coupled with ongoing communication and marketing messages. These help you stay in touch with your prospects during the incubation process. Check out Point2 Agent to find out what your site may be missing.

5) Attract former customers to your business.

A good, old-fashioned phone call with a handwritten follow-up thank you note can and will often do the trick. Once you’ve reestablished the connection, be ready to continue the engagement with consistent communication keys that keep the connection warm. Set up a marketing calendar for at least once a month contact. Give away reports, fun coffee gift certificates or free gas. Engage your SELF by offering seasonal competitions or small social events.

6) How about a Five-day contact program?

It’s always easier to take small steps that have a big impact! Start your day with a colorful piece of paper with 5 names of past clients, referral sources, or solid leads. Make 5 “touch” calls every day for 5 days a week. You will end your month with a healthy rotation in your database and the number of contacts will be around 100 calls! Scripts are easy. A simple script can be:

“Hi! That’s your name. I was driving around your neighborhood and thought I was going to check in and say hello. Let me know if there is anything I can do to answer your questions or answer your questions. real estate needs.

seven) Send a note!

If you’re just embarrassed that you haven’t kept in touch, consider sending a funny note that says, “I missed you!” And include a call to action for information on neighborhood news, property updates or current real estate activity in their area.

8) Organize a party!

Every year, one of the most successful agents in the Chicagoland region would throw a fun outdoor summer party for all of his former clients and strategic partners. The annual party had a theme, with lots of fun activities for the kids, like face painting and games. No matter when the customer bought or sold, each year, he knew he would be invited. It’s a great way to stay connected! Local party permits are cheap enough, and he urged his lenders and supporting contractors to share the fun and help with the expenses… a win-win for everyone.

9) Be visible in the community.

Organize a charity event for your city or local community. Think: Coats for the Cold, Thanksgiving dinners, toddler toys, or other holiday campaigns will all help make your name a priority.

ten) Be a resource!

Hold monthly or quarterly real estate events so people can learn what they need to do to buy or sell real estate. Make it a joint venture with lawyers, securities companies, credit repair services and more at your local library or church to meet more people and grow your database.

With a consistent update of your most valuable asset – your prospects – you can be assured that you will never have to “clean up” again and that you will be ready to harness the power of your influence!

How do you stay in touch with your old clients?

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