Climbing The Real Estate Database Mountain – Episode #174
After last week’s episode, you may be feeling like building a real estate database is too daunting of a task. You know you need a database, but getting to 300 people in your sphere of influence feels a lot like climbing Mount Everest. Fear not! While 300 is the ultimate goal it’s by no means where you need to start. In this episode, I’m going to give you all the tips you need to develop a manageable real estate database for your sphere of influence and show you how to get to the top of the mountain.
The first step of building a database is starting
Have you ever sat for an extended period of time looking at the work that needs to get done as if to will it into completion? Yeah, I’ve been there. I think we all have. The reality is that your database won’t build itself and you NEED that database. If you’re like most real estate agents out there your sphere of influence is what is driving your business. Having a database of those people is the tool you need to cultivate leads and maintain relationships with your sphere of influence. Don’t freak out because this episode is full of tips to help you get started. Just press play and get inspired!
Manageability is the key to growing your database
The other reason you might be stalled out in starting the database for your sphere of influence is that 300 people seems incredibly overwhelming. If you are a new or stuck agent I completely agree! I believe your database should ultimately contain 300 people, but by no means do I think you should start there. If 50 people are all you can reasonably mail to and maintain relationships with then that is the perfect number for you RIGHT NOW. Stick with the number of people that you can stay consistent with. I would rather you have a database of 50 people that you can really love on than 300 people you basically ignore. From there you can add more people as you gain more confidence in your ability to effectively reach greater numbers.
Stop getting ahead of yourself
In this episode, I share a personal story about when my younger self almost bit off more than he could chew. It’s a fantastic story so make sure you listen in order to get all of the juicy details. However, I want to talk about the reason why I told that story. Too often in real estate we see successful agents as goals and we try to be them as fast as we can. We take shortcuts where we should have taken more time. We try to run a marathon when we’re only ready to run the first mile. The goal isn’t to be successful as quickly as you can. The goal is to to be successful as long as you can and the only way you do that is by remaining disciplined, staying consistent, and maintaining the right pace.
There are people in your database you need to delete TODAY
A big part of building your real estate database is filling it with the right people. However, I guarantee that most of you reading this have some of the wrong people in your sphere of influence and it’s time to fix that. You have to know, like, and trust the people on your database. These should not be people you are trying to impress, but rather people who you are trying to include in what you are doing as a real estate agent. Stop adding entire neighborhoods and stick to the neighbors you already have relationships with. You will save yourself so much time and money if you do. Start assuming the role of quality control for your database and only put people on it who want to see you succeed.
Outline of this great episode
- [0:47] Don’t let your real estate database be daunting
- [2:28] Why you need a database in the first place
- [4:15] Everest can’t be climbed in a day…
- [7:35] …And the time that I learned why
- [12:28] Why maintaining quality over quantity will make your database effective
- [15:05] Who should NOT be in your database
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Resources and Links mentioned in this episode
- Check out real estate’s FIRST media network at Industry Syndicate
- The Agent Marketer is where it’s at for your digital marketing needs!
- To get my 11-question listing presentation tips, text “listing” to 44222
- To contact me about coaching, go to www.neilmathwegcoaching.com and click Send Message.
- If you want to see my website as a REALTOR in Madison Wi go to www.neilmathweg.com
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