Harness the Power of Relationship Marketing as a REALTOR
Before we dive into the power of your real estate database and how to extract said power into building your business, I want to give credit for this post's inspiration to Vancouver, B.C. agent Keith Roy and his presentation I attended this June.
Keith wanted to remind us of the importance of our database, sphere of influence and show us how much business is sitting there waiting to be tapped into by taking action.
Not just "any action" but specific... intentional... consistent action
The point is to really deepen our relationship and value with each person in our database.
This high touch approach has generated 40 deals a year and from a list of only 180 people... you got to like a consistent 22% conversion rate.
We all have heard the comment that clients never hear from their real estate agent after they buy or sell. N.A.R. the National Association Of Realtors reports around 4 out of 5 clients would use their real estate agent again but don’t because the agent has never kept in touch and never really had a relationship with them.
It amazes me the amount of time, money and effort we all spend in finding buyers and sellers but the more amazing part is the lack of time, money and effort we spend to keep them as clients and deepen our relationships with them and build them into advocates of our real estate business.
Your Goal for Your Real Estate Database - Be Insisted... Not Just Recommended
Insisted? Recommended? There is a difference!
Would you rather have a client tell a friend "Hey you should give "Jack Realtor" a call, I recommend him" OR
"Listen you absolutely have to call "Jack Realtor", he is the best... bar none. In fact I insist... here's his number, give him a call"
The former is typical. The latter is more than possible but not usual because most REALTORS don't do the work to build that loyalty.
Want to know how? Thought you'd never ask...
Introducing the 96 Touch System for a 1085% Return on Your Real Estate Database
The system starts with a plan and a calendar. Jim Rohn said “finish your week before it begins.” For this type of system to be effective and have the return you are looking for, start by taking out your calendar and let’s begin planning the balance of your 2014 and building for a boost in your business for 2015!
Schedule in your calendar...
Once a month Newsletter (Snail Mail)
- Once a month Real Estate Newsletter plus Statistics Update
Once a Month Email Touches
- Once a month Facebook Business Page Update
- Bi Weekly – E Reports
- Bi Weekly – Motivational Quote Post Cards
Quarterly Phone Call Touch
- Schedule a quarterly phone call to touch base, say "hi" and ask if they need anything.
Personal Touch Contacts (Physical Card in the Mail)
- Annually - Birthday Cards
- Annually - Home Anniversary Cards
- Annually - New Baby Gifts
- Annually - Wedding Anniversary Cards
Monthly "Top of Mind" Contact
- January – "Property Tax Assessment Appeal Kit" and "My Best Year Ever Letter" (Click Here to Get a Free Copy of My Best Year Ever Letter and Property Tax Assessment Appeal Kit)
- February – CMA’s and Calls
- March – Spring Pop By Gifts (drop in on your clients with a small gift)
- April – Client Appreciation Party Movie
- May – Mother’s Day (flower voucher)
- June – Father’s Day Card (donation)
- July – Summer Pop By Gifts (drop in on your clients with a small gift)
- August – Client Appreciation Party BBQ
- September – CMA’s and Calls
- October – Home Show Tickets with Referral Request Letter
- November – Client Seminar Event (Guest Presenter)
- December – Calendars and Poinsettia’s
Now before you panic about "how the heck you'll ever have time to do all of this", when you break it down most of this can be setup once using an autoresponder email scheduling feature. Many of the other "touches" can be mass produced and virtually all of it outside of the personal calls can be outsourced or passed onto an assistant.
Keith told me he invests about $150 per person per year which totals about $27,000 annually but this investment in his real estate database creates a return of $320,000 in gross commissions. Anyone here interested in investing 27k for a 320k return? There's your 1085% ROI
Seeing these numbers... For the few hours it will take each year to personally reach out to everyone in your real estate database 96 times each year can you think of any other single activity that will give you a greater short and long term ROI on your business as a REALTOR?
Now this is just a template for you to set out a plan that would easily allow you to touch your database at least 96 times a year and add value to them and their lives. I know this has been a tremendous system for both Keith's and my own business and it can be for you as well.
Thanks so much to Keith Roy for the inspiration and for sharing his actual plan and wish you all tremendous success with your relationship marketing strategy moving forward in 2014 and even 2015.
Wanted to close with this story... With my own business and multiple touch system for my database I always loved those magical telephone call moments when someone would call out of the blue and say “Hi Wade it is so and so calling.”...
“We just received your great newsletter, like you've always sent for so many years and we have decided it is time to sell and would love it if you would come over and list our home, would you be able to do that?”
I would then smile and give a little fist pump and think how glad I was for implementing a system with my database.
Do you think this type of call from your clients would ever get old no matter how many years you have been in the business?
Click here to check out Keith's site and see a bit more of what he's up to... while you're there drop him a "Thank-you" for sharing his killer system with us.
Strength and Courage,
Wade
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