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4 Strategies for Building Your Real Estate Database

May 08 2018

ixact build real estate crm databaseAs a real estate agent, there are a lot of things you "should" do that you hear over and over again. You should keep in touch with past clients. You should have a responsive website. You should up your database. But that isn't very helpful if no one is telling you how or why. So we're going to help you with that last one.

The why of building your real estate CRM database is in two, simple parts. First, if you build your database, you have more people to reach out to, and even if they aren't currently looking to buy or sell a home, they may very well know someone who is. Instantly, you have increased your potential new business.

Second, when the day comes that you want to retire (as distant as that may seem!), a robust database is an extremely valuable asset that you can sell or pass on. It can get you more business now and create a nest egg of sorts for you later – and now you see why it is so important to build your database!

Understanding why you need to build your database is only half the battle, though. Next, you need to know how to actually do it. We've broken it down into four steps.

1. Hold events for your clients

Not only does hosting an event for your clients make them feel special and appreciated, it allows them to bring other guests. You can then add these new faces to your database, but in a laidback environment that doesn't feel pushy or too salesy.

The kind of event depends greatly on your personality. You could host a large barbecue and make the rounds to every person in attendance. If you are quieter, you could host a movie morning where most of the time is spent in quiet enjoyment. The possibilities are endless, and your database will thank you for the effort.

2. Write down everyone in your personal and professional networks

Take the time to write down the name of every single person you can think of that you know, even if it is just as an acquaintance. This can include friends, colleagues, neighbors, family members, business associates, or even people you have worked with in the past such as contractors, mortgage brokers, florists, caterers, etc.

You might be surprised by how many people you actually know that you weren't including in your database! Each and every one has the potential to bring you more business, so add them in.

3. Reach out to local businesses

Not only will this step help you to build your database, but it will also establish you as someone who truly knows their neighborhood/town/city and what it has to offer. Building a rapport with a few local businesses can be a great source of referrals for you.

Make sure you return the favor by recommending them when clients ask for a great plumber or interior decorator, or just asking if there is way for you to help them in return. You can manage all of these relationships by using your CRM. This will allow you to easily refer to any of them when you are asked for a recommendation (or need a professional yourself!).

4. Re-establish contact with forgotten contacts

It's happened to everyone in the real estate business – things get too busy and contacts get forgotten. The good news is it is never too late to reconnect with them. Take the time to make a quick phone call, apologize for losing touch, and ask them for their updated contact information.

Once you've done this, set them up to receive your monthly eNewsletter, and set keep-in-touch reminders in your database so you never lose touch again. Re-establishing these connections can be very critical in generating some referrals or repeat business.

To be a successful real estate agent, you want your database to be constantly be growing. Think outside the box for people you can add, and make it a habit to add new contacts regularly. If you set a simple goal like, "Add one new contact every day," the task feels less daunting, but at the end of a year you'll have 365 new contacts in your database! Small efforts really add up, both in the short and long term.

Once you have all these new contacts coming in, make sure you keep them organized with a real estate CRM. You don't want all of your hard work to go to waste!

To view the original article, visit the IXACT Contact blog.