09/14/2022
I’m going to give you the secret to success in Real Estate, and believe me – despite all the catchy phrases about silver bullets and magic sauce – this is the real deal.
This is what other team leaders don’t want you to know. They don’t want you to be able to build your own business, because they believe that if you do, you will leave them.
No, they would rather you remain subverted and dependent on them. They will do what I’m about to show you on their own time, while you continue to spin your wheels – or should I say, their wheel.
What I’m about to show you is literally the difference between being rich and being wealthy. The difference between leasing a building and owning it.
I’ve been a sales trainer and team leader of some of the top producing teams in the City, and I’ve seen hundreds of agents come and go. The difference between them is that the ones that stuck around and TRULY flourished worked on what I’m about to teach you in at least a minor capacity.
Are you ready?
Your Database.
That’s the silver bullet. But while the database is the silver bullet – it’s no good without a gun… or the ability to use it properly.
That’s what I’m going to teach you.
The reason your database is so important is because it will be your source of business for the rest of your career. Need I say more?
The richer your database, the richer you are in return.
It’s really that simple.
And yet – not every agent works their database. Many agents simply go about their lives, consistently prospecting and meeting new people and taking what they can get. They are doomed to forever chase the next lead, and the next deal.
Why do some agents do that? The answer is that while some agents would like to have a Relational Business (built on relationships), others simply want a Transactional one (built on single transactions).
Most people think of a database as a list of names and contact information. I’m here to tell you that it’s so much more than that. Much like a farmer’s field isn’t merely just dirt and plants, but rather rich soil that carefully tended to that provides rich, nutritious food – a good database is a list of relationships that have been carefully nurtured and invested into, and that will return a predictable yield that will provide for you.
The question begs – how do you organize those relationships? The answer lies in the purpose of keeping the list in the first place. What are we hoping to get from our list of relationships? The answer is REFERRALS, and therefore, we shall organize our list of relationships by their propensity to refer us business.
Here is how we do that:
A+ Those that help us build our business. Lawyers, Lenders, Contractors, Investors, Printers, Graphic Designers, Photographers, Videographers, Social Media Experts, Project Managers, Accountants, Bookkeepers etc.
A Those that have referred us business.
B Those that would refer us business if shown how.
C Everyone else who expressed interest in working with us at some point.
Note: For the purposes of Sales, we also categorize LEADS as follows:
Stage 1 Those that are merely inquiring about real estate online
Stage 2 Those that have gone out to see homes or are asking questions about homes
Stage 3 Those who are looking at or selling homes right now, and will likely trade within 30 days
Next time I'll elaborate on how to Nurture this Database so it turns into a long line of referrals :)