How to Begin and Employ a Database for Investment Purposes?
Your database will play a crucial role in the success of your business and the ability to sell your properties quickly. This is because having a database of ready and willing buyers is essential in order to sell properties promptly. It is easier to find a suitable house for a buyer than it is to find a buyer for a specific house. With that being said, I would like to provide you with some approaches to constructing databases that you can employ.
It is likely that you will prefer using an online database program for managing your contacts, as it is more reliable and advanced and has a wider range of features. Additionally, it is more efficient compared to utilizing your own computer program.
One more benefit of having an online system is the ability to access it from any location. Moreover, besides utilizing your database along with your autoresponders, you have the option to email, call, or send direct mail to your contacts at any given time. If you have a specific requirement for a particular property or buyer, you can simply send a brief email to your database. If you need to sell your property quickly, you can also send out an email regarding it. There are countless possibilities for its utilization.
How can you construct your collection of real estate information?
There are multiple methods for constructing your real estate database. One approach is to leverage your personal connections, utilize social media platforms, reconnect with previous leads, diligently follow up, and invest time in building a professional network.
1- Use your SOI
Your sphere of influence encompasses almost everyone you are acquainted with. It consists of friends, family members, colleagues, vendors, and others. Utilize your sphere of influence to enhance the growth of your database. It is highly probable that those within your social circle have connections with individuals interested in purchasing, selling, or investing in real estate.
2- Social media
Utilize social media as an effective means to discover and develop potential clients in the real estate field. Employ it as a visual platform for your business, sharing captivating posts such as new listings, stimulating 3D tours, and engaging real estate photos to connect with your audience.
Moreover, you have the opportunity to discover fresh connections within online communities such as Facebook groups. Be sure to add any potential prospects you come across to your database dedicated to real estate so that you can keep them safely organized.
3- Reconnect
Losing touch and allowing contacts to become inactive over time is a common occurrence. If you notice that your emails are being ignored and there is a lack of interest from your potential customers, it is necessary to re-establish communication. By reconnecting, you can revive old connections and form new relationships with inactive potential customers.
Once you have refreshed your connections, include those individuals in your monthly newsletters and email campaigns.
4- Follow up
To prevent the hassle of reconnecting with your contacts, promptly follow up after an event. By regularly staying in touch with your new leads.
5- Network
Networking is essential in the real estate industry. There are numerous opportunities to connect with potential clients and receive referrals, such as attending community events, parks, open houses, fundraisers, festivals, conventions, and various other gatherings.
It is essential to have business cards and a fully charged phone or tablet with you at all times in order to obtain contact information. Once you have interacted with potential contacts, make sure to promptly add them to your real estate database.
6- Introduce yourself to local businesses.
Engaging with nearby establishments can provide valuable opportunities to expand your customer database and receive recommendations. Invest some effort in personally visiting local businesses, making introductions, and establishing relationships with owners and managers. Establish a mutually beneficial business referral system that supports both parties.
In return, these businesses will introduce you to their clients who are in need of an agent. By doing so, you will not only contribute to the community but also expand your database, resulting in increased opportunities for repeat business and referrals in the future.
7- Unresponsive potential customers
Transform unresponsive potential customers into valuable contacts by exploring different types of leads that have never been tried. Expiring listings, properties sold directly by owners, properties leased directly by owners, and properties at risk of foreclosure all provide excellent opportunities to discover immediate job opportunities.
You will eventually contribute to your database for future referrals and customer returns. Moreover, even if these leads are not currently considering listing with you. You can still include them in a gradual and ongoing outreach strategy to interact with later.
For example:
When making a phone call, ask if potential customers need help within the next 90 days. if they respond negatively, ask for their consent to contact them via text message and include their information in your database. Even if they don’t need your help right now, it doesn’t indicate that they won’t do it in the future.
