The difference between a typical data base and relationship base is the number of referrals. Referrals come from people who know you, like you and trust you. Those 3 things require time and effort to cultivate. You won’t be a match for everyone and you shouldn’t try. Find the ones you resonate with and you’ll enjoy your work time a lot more.
A database is more like a mailing list you send stuff too. Stuff that tells them you are a real estate agent or tells them about the market or tells them about other stuff they don’t care about. Unless your target (gotta love that idea) is ready to do something in real estate at the moment they open your email, they delete it and likely don’t think about you again until the next drip in the campaign. You’ve spend some of the credibility or good will you have for nothing. Nothing.
A relationship base is more about them. What do they want or need? If you don’t know then you have work to do. Invest sometime finding out about them. Facebook and other social sources can tell you a lot about them. A phone call is good or drop by with a small gift that celebrates something important to them. Does that sound hard? Well, opportunity most often shows up looking like work but the payoff is worth it.
If you have a relationship base of 100 folks you can expect up to 30 transactions from it. A database you drip on is likely to produce about 10. Remember everyone know 2 people who are going to do a real estate transaction in the next 12 months. That’s 200 deals or 400 sides. That is the real potential and your goal better be building relationships so you help more folks when the opportunity comes.
Thanks for listening,
Photo by Mingo.nl
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