According to statistics from NAR, 82% of all customers have said that they would work with their agent again, but only 12% do! Getting new clients is not easy; it takes you exponentially more resources (time, energy, money) to generate new business vs. getting more through referrals from your sphere of influence and your past clients.
A stellar Virtual assistant can manage your database and ensure you never miss an opportunity! Schedule your double My Business Strategy Session today to find out more.
One of the most significant assets you have within your business is your database. If used wisely, this is where you can generate more leads and find a way to make connections that will lead you to more business. If you are not using your database to produce new opportunities, then you are missing out!
Consider the following statistics:
- The #1 source of business for Realtors is referrals from past clients.
- 74% of clients will give you a referral if you stay in touch.
- 42% of all new buyers come from a referral.
What you need to do is focus on providing value to your database and building relationships. Many agents seal the deal and then move forward without a second thought. By taking simple steps and fostering these business connections to evolve into something more could prove most fruitful.
Here are some hacks you can follow to utilize your database:
- Have 2 Databases: All your contacts should be separated into two specific groups. They can have sub-headers, but should generally fall under two categories. One that is your sphere of influence (SOI) and one that is purely focused on lead generation. Each database should have a strategy in place behind them; for example, email campaigns that address the needs of each category, SMS, mailers, etc.
- Personal Touch: Make sure that you find ways to send something with a personal touch, as often as you can. Perhaps once a month, you can send an SMS to all your SOI or past clients asking them how they are, how things are working out in their home, etc. Little details you can remember can foster a lot of loyalty and trust. Give them a call on their birthday or send out holiday cards, find ways to make them feel like they are more than their referrals.
- Bring Value: Always strive to bring value. Beyond your personal messages or emails that you may send out, short videos with things like market reports or quick tips could work. Perhaps sharing insightful content, articles, and blogs that might resonate with your database and their interests.
- Go the extra mile: We have a client who invited her past clients to drop by her office around the Thanksgiving holidays to pick-up a free pie. We’ve also heard of Agents who throw Halloween costume parties and invite all their past clients to attend. How about inviting everyone for some coffee when a new coffee shop opens in their neighborhood? Be creative and find ways to reach out and actively involve your network!
- Ask for reviews: Aside from asking for referrals, why not ask your SOI and past clients to write you an online review? Statistics show that 80% of consumers, in general, are willing to leave a useful review, but only small percentages are asked to do so. What more for those who you have helped purchase and/or sell something as important as their home! These days, consumers look online for reviews and any other data they can gather before making a purchase, so reviews can be essential to generating new business.
- Delegate: In managing your database, consistency is vital. You cannot let anything slip because you don’t want to be missing out. A majority of these hacks can be executed by a virtual assistant or a member of your in-house team. The trick is knowing which responsibilities can be delegated and having the right person handling them. As you focus on making more connections and expanding your SOI, you need to have a team behind you that will keep the ball rolling and your pipeline flowing.
Do you want to know how a MyOutDesk Virtual Assistant can help you with your database and more? Don’t forget to book your Double My Business Strategy Session!