1. 1. 1 BUILDING YOUR DATABASE & EXPANDING YOUR SPHERE OF INFLUENCE
2. 2. Open your mouth and hope something flies into it Flight of the confused bumblebee 2 AGENT LEAD GENERATION PROGRAMS
3. 3. Top 2 Answers 1. Referred by (or is) a friend, neighbor or relative 2. Used agent previously to buy or sell a home 3 HOW BUYERS FIND REALTORS 52% 40% 12%
4. 4. 4 HOW SELLERS FIND REALTORS Top 2 Answers 1. Referred by (or is) a friend, neighbor or relative 2. Used agent previously to buy or sell a home 60% 38% 22%
5. 5. 1. How many people know that you are a REALTOR? (insert your own number) 2. Percentage that will move this year (NAR studies indicate that people move, on average, once every ten years) 3. Number of people that you know who will move this year (Multiply #1 by #2) 4. Captured business (Multiply #3 by 70%) 5. Average commission earned (Average sales price ($153,000) X Average commission percentage (5.85%) X Co-op commission portion (50%) X Agent split (50%) X Berkshire Hathaway HomeServices franchise fee (94%)) 150 5 THE POWER OF YOUR DATABASE 10% 15 10.5 $2,103.37
6. 6. 6. Commission income from your database (Multiply #4 by #5) $22,085.38 6 THE POWER OF YOUR DATABASE
7. 7. If you increase the number of people in your database 7 PLAYING WITH THE NUMBERS 200 $29,447 350 $51,533 500 $73,618
8. 8. 8 THESE NUMBERS ARE CONSERVATIVE
9. 9. 9 THE FORMULA DOES NOT ACCOUNT FOR . . . selling your own listings
10. 10. 10 THE FORMULA DOES NOT ACCOUNT FOR . . . sellers who also buy
11. 11. 11 THE FORMULA DOES NOT ACCOUNT FOR . . . commission split increases
12. 12. 12 THE FORMULA DOES NOT ACCOUNT FOR . . . referrals from outside your database
13. 13. 13 WOULD BUYER USE REALTOR AGAIN OR RECOMMEND TO OTHERS * * 2014 Profile of Home Buyers and Sellers, National Association of REALTORS 60% 80% 50% 70% 40% 30% 20% 10% 0% Definitely Probably Probably Not Definitely Not Dont Know 73% 15% 5% 5% 1% 88%would probably use you again or recommend you to others
14. 14. 14 HOW REPEAT BUYERS FOUND THEIR REALTOR * * 2014 Profile of Home Buyers and Sellers, National Association of REALTORS 17%used agent previously to buy or sell a home
15. 15. 15 THE UGLY TRUTH Unless you do something about it today . . . 80%. . . over will use another REALTOR in the future
16. 16. 16 SO WHERE DO YOU BEGIN?
17. 17. 17 FOLLOW THE STEPS TO SUCCESS Select Your Database Feed Your Database Touch Your Database
18. 18. 18 1. SELECT YOUR DATABASE
19. 19. 19 1. SELECT YOUR DATABASE Get recommendations from peers Find out how much it will cost to use Trial version available? Invest time to learn the program
20. 20. 20 1. SELECT YOUR DATABASE Popular Customer Relationship Managers (CRM) Lead REsource
21. 21. 21 2. FEED YOUR DATABASE Gather all the names, addresses, telephone numbers and e-mail addresses of everyone you know Use the Memory Jogger
22. 22. 22 2. FEED YOUR DATABASE Continuously look to add new people to your database every day
23. 23. 23 2. FEED YOUR DATABASE Learn how to ask for referrals The two best times to ask for referrals: Signing contract Settlement table
24. 24. 24 3. TOUCH YOUR DATABASE Initial Mailer Enroll them in a Customer Appreciation Program and include three cards Phone Calls Obtain contact information that is missing from your database
25. 25. 25 3. TOUCH YOUR DATABASE Personal (Handwritten) Notes Make it a habit of sending three per day to your database (and others) Pop-bys Visit one person in you sphere of influence per week Hi!
26. 26. 26 3. TOUCH YOUR DATABASE Market Updates E-mail monthly Market Activity Report from Seller Advantage within Lead REsource
27. 27. 27 3. TOUCH YOUR DATABASE Items of Value Send out one piece of information per month regarding real estate (i.e. tax tips, home maintenance, area info)
28. 28. 28 3. TOUCH YOUR DATABASE Just Listed/Just SOLD/Open House Notices eCards Notify your database of your activity. Produce the eCards in the Marketing REsource in minutes. Easily download your database to keep them informed.
29. 29. 29 3. TOUCH YOUR DATABASE Just Listed/Just SOLD/Open House Notices Mailers Notify neighborhoods of your activity. Produce the postcards in the Marketing REsource in minutes. Create mailing lists with the link to XpressDocs.
30. 30. 30 3. TOUCH YOUR DATABASE Social Media Know what is going on in the lives of people in your database and interact with them
31. 31. 31 3. TOUCH YOUR DATABASE Coffee/Lunch Target the very best 20-25 in your sphere of influence (and let them know it)
32. 32. 32 3. TOUCH YOUR DATABASE Making phone calls for Coffee/Lunch Have passion in your voice This is a business meeting, not a social Make them feel special Look at their social media sites before you call
33. 33. 33 3. TOUCH YOUR DATABASE Coffee/Lunch Agenda Have an I care attitude. Ask and listen.
34. 34. 34 3. TOUCH YOUR DATABASE Coffee/Lunch Agenda Give them information of value Interest rates Buyers vs. Sellers market Absorption rates Neighborhood conditions
35. 35. 35 3. TOUCH YOUR DATABASE Coffee/Lunch Agenda Ask for referrals a couple of times Who do you know that is looking to buy or sell a home in the next 3-6 months? (then keep silent) Do you know anyone about to encounter a life altering event (i.e. divorce, getting married, having a baby)? If they run into someone this year that mentions real estate needs would they be willing to give them your name and number and get the clients contact info?
36. 36. 36 3. TOUCH YOUR DATABASE Coffee/Lunch Agenda Pick their brain for ideas How can I improve what Im doing? What do I do well? What do you see others doing that I should consider doing?
37. 37. 37 3. TOUCH YOUR DATABASE Coffee/Lunch Agenda Pick their brain for ideas What are a couple of things that made them successful in their business? How could you use social media and technology to more effectively help build relationships?
38. 38. 38 3. TOUCH YOUR DATABASE Coffee/Lunch Agenda REMEMBER; they are one of a special few. You value their opinion. Make them feel like they will be a part of your team.