Tips to Make More Money From Your Real Estate Database

We held a Revaluate Coaching Lab webinar to find tips to make more money from your real estate database. The goal was to help real estate agents work their database more efficiently. It was hosted by our own Alex Cortes with two special guests from our community. Brad Allen, Broker of The Art of Real Estate Team based in South Carolina and Coach Wayne Salmans of Hero Nation coaching.

The trio revealed that the key to making more in a tough market is to work your database with intension. They rolled out a plan for how to categorize, track and talk to the contacts in your database.

The worst thing you could do, they agreed was to randomly call and ask for a listing. “Don’t booty call your database” This builds no relationship, value or helps you make more money.

In the Revaluate Coaching Lab Video they shared lots of very valuable insight and tips to make more money from your real estate database. Here’s one of my favorites, and it was also the tip that Brad says will make you 100x more money than the agent that does not use this process.

The trio first laid out the facts. They discussed the values of different forms of communication. Direct mail is pretty low, as is email but the the highest and most valuable is conversation – either in person or over the phone. Do you HAVE to call your database? no -but it makes it much harder to make money. And when you call, call with a reason.

The First Step to Growth

Warning: You already know that money does not grow on trees – you need to put in the effort if you want the results. This will not be a simple 1 hour process. Ready to roll up your sleeves?

First and foremost categorize the contacts in your database using the table below (provided by Hero Nation Coaching, and used by Brad Allen for his whole team)

It’s suggested that you ensure all your contacts have physical addresses (for direct mail, pop by’s, CMA’s and Valuation conversations)

An Example: The Service Provider Call

The Service provider call:
a) call prospects in B or C and say “Hey Sarah, Im updating my service provider network for my clients with real feedback from real local people. Do you have a recommendation that I should reach out to like a painter, yard guy, house cleaner or remodeler?”
Then after getting the name of “bob the builder” follow up with a hand written thank you note ( & send them the service provider list on your website when complete) and call bob.

b) “Hey Bob, Sarah recommended you to me. I’m ______ the realtor in ______ neighborhood. Could you use more business? Yes? Cool….tell me about what you do so I can possibly send clients your way” Be sure to get him to give you a link, logo and blurb so you can write a post about him on your site.

So then that was pretty easy. With out magic and with a low level of lift, Bob is a Core referral connection. Plan to call him monthly (as well as sending him business) and remind him – Hey, I sent you ____ referrals, I’d love to help your clients when they are thinking of moving.

The Next Phase

Now, after sending him the first round of referrals, Train bob to ask the following of ALL his clients: “What prompted you to call me today?” The response to this key question will give Bob the opportunity to send business back to you as an appreciation. Leverage this process and script to grow your core and raving fans and leverage the networking effect. This is not the end – This represents only one of the 4 types of suggested outreach calls. You really ought to watch the video above to pull more very valuable advice for your own business.

If you leverage these real estate agent tips that make more money from your database. Special thanks to Brad Allen, Broker of The Art of Real Estate Team and Coach Wayne Salmans of Hero Nation coaching. To learn more reach out to them!