One of the catchcries of sales trainers is their preaching the merits of database management and database clean-ups. Over and over you will hear how you should categorise your contacts into lists, and spend time focusing on each list at certain times of the week or month, and the never-ending conversation about the clichéd “AAA” clients and “hot prospects”.
Here is my take on why catagorising your clients is a myth.
Your client’s set of circumstances is beyond your control, as is their preference on what house they want to buy and when they want to sell their current home. Your AAA client may not be selling their property for 20 years and possibly should be on your dormant list, when in fact one of your dormant clients may have just bought their dream home and must sell in 30 days. The best you can do is be available at the right time, and have the right skills at the time.
Success is often when opportunity meets the right time, with a person who has the right set of skills.
In regard to the skills, I will refer you to your preferred sales trainer or mentor. I encourage every sales consultant to have a need and motivation to continually upgrade their skills to be better equipped to handle the myriad of situations. However I believe that the most important thing that every sales trainer and coach teaches is that relationships are between two people, not between a customer and some technology, and shouldn’t expect a computer or device to build a relationship on your behalf.
Let’s talk about timing and the use of categories that I mentioned earlier. The AAA prospects and hot leads versus cold leads, and why manually managing them is a myth.
If you use Box+Dice to manage appraisals, manage buyers, list property and sell property, you have all of the categories you need maintained for you automatically. Below are the two main categories B+D manages for you almost automatically:
You already have all of your appraisals categorised, and able to be sorted, and filtered by date. You can group by location or zones and target specific locations. Then you can follow up hot appraisals, dormant appraisals, and you can target areas where a hot buyer is looking. Plus you can broadcast good news to targeted customers triggering immediate action.
As a minimum, you should have a “next contact” for every appraisal you have completed. Dormant appraisals should be on a loyalty campaign, so this means that every appraisal has at least one future contact. You can now sleep easy, knowing the pipeline is filled.
You already have every current buyer categorised for you in the buyer register. The so-called “hot buyers” are any buyer that is on any current listing with a status of ‘In’.
‘Everybody every week’ should be your rule for any buyer that is ‘in’ on a listing.
Prospecting Just a reminder, prospecting is not lead generation. Prospecting is the act of converting a client into a listing. Lead generation is the act of getting a new lead.
Want to find clients to convert to a listing? There are four main areas to mine.
1) All of your appraisals (See above)
2) Buyer/Vendors. That is, buyers who also have a property to sell. You already have those listed in the system. It’s now down to your skill to constantly be asking ‘the’ question: “Are you ready to list?”
Allocate time each week to focus on your buyer/vendors.
3) Past purchasers. The longer you’ve listed and sold property in Box+Dice, the bigger this bank is for you to withdraw from. Simply do a search for past purchasers by date and get to it. Remember that people build relationships with people, not technology. Decide on your strategy for keeping in touch and cultivating listings from your past purchasers.
As a bare minimum, every month you should cover that month for every year you’ve been in real estate. The longer you’ve been in the game, the more work you have each month.
4) Past vendors. Remember that vendor that loved you to bits when you sold for $80k over reserve? Keep in touch with them. There’s not that many. Ring all of them at least twice a year and drop them a gift and some great information. They will insist their friend’s list with you.
And then, there’s lead generation. Good luck with that. But please, before you spend a cent on lead generation, make sure you’ve covered the big four above.
CRM stands for Customer Relationship Management. It is not technology; it is a mindset. A business philosophy. The work comes down to you. Technology is merely the tool with which you perform your craft.