Your database is more than a list of contact information for your clients – it’s a list of relationships – relationships that drive the success of your business. It’s the heart of your business, especially if you work by referral. The people in your database have the potential to become the biggest advocates of your business with their referrals.
However, if you’re a new real estate agent or you’ve relocated to a new area, you have to build your database first. For many agents, this can be an intimidating process. You don’t want to seem like a pushy salesperson or appear presumptuous. However, the people you already know make the perfect additions to your database.
When you work by referral, it’s important to form connections with the people in your database. Although some agents are able to do this while maintaining a database of thousands, it’s best to start with just 100. It’s easier for an agent who’s new to the industry or new to the area to build relationships with 100 people that they already know than to try to create relationships with strangers.
It all starts with a list of the names of every person you know in the area, including family and friends, your hair stylist, your dry cleaner, the barista at your favourite coffee shop, your friends on social media and so on. Include everyone within your sphere of influence. Once you start thinking about it, you’ll be surprised by how many people you know.
If you’re new to an area and haven’t had a chance to get out and meet people, don’t worry – you still have contacts in your community. You may have to think a little harder when you’re creating your list. However, before you know it, you’ll have 100 names.
Many agents think that they have to build huge databases in order to have a successful business. However, it’s not the quantity of people you have in your database – it’s the quality that counts. Creating a database of loyal advocates who refer you to their family and friends is one of the best ways to grow your network. Instead of relying on cold leads from strangers, you’re working with great people who will refer you to other great people. All you have to do is ask. No cold calling or door knocking required!
Brian Buffini immigrated to San Diego from Ireland in 1986 and became a top-performing Realtor. He then founded Buffini & Company to share his powerful lead-generation system. Buffini & Company has trained more than three million people in 37 countries and coaches more than 25,000 business pros. Today, Brian is a New York Times best-selling author and reaches over seven million listeners a year through “The Brian Buffini Show” podcast.
