DATABASE CLASSIFICATIONS

1. ADVANCED ADVOCATES

–

“Raving Fans”, vendors or others that you target as sending 2+ great referrals a year. Send monthly newsletter and meet face to face over a cup of coffee, etc. once a month.

2. ADVOCATES

–

Have sent business in the past. Target to send 1 great referral a year. Send monthly newsletter & call every 2 months.

3. FRIENDLY DATABASE

-

They know you and like you but have not as of yet sent any business your way. Send monthly newsletter & call 4 times a year or so.

4. JUST NAMES – contact with monthly newsletter if you wish.

** The monthly newsletter is a 1 or 2 page newsletter of your thoughts on the market. Not fancy at all.

When I use the term Database, I mean only categories 1-3 in the classifications. It does not count leads, etc. I keep them separate.

The idea is to turn 3’s to 2’s and 2’s to 1’s.

If you can find 10 people who will send 2+ deals a year and 30 people who will send 1 deal a year, then you can potentially sell 50 more sales a year just by working those 40 people.

If you can double those numbers, you will do 100 more sales cheaply and consistently without great effort.

DATABASE SCRIPT – GENERATING REFERRALS

“Hi _____, this is ____ ____ with Keller Williams. How are you today?” “I am calling (for a business reason / to say hi / because we hadn’t spoken in a while, etc.). And to ask a favor. Have you got a minute?” “This year I have set a goal to help ___ families buy or sell a home. As you probably know, referrals are the lifeline of my business”. “Let me ask you an honest question…do you feel comfortable referring someone to me as a real estate agent?” (This qualifies them…if they say no, they are not Active Database) “Statistically, we know you will run into 4-6 people, like friends, neighbors or co-workers who will be buying or selling a home in the next year.” “Will you send them my way?” “And, __, I know that this isn’t going to be the main thing on your mind, so would you mind if I called you every couple of months to remind you?” “In advance, I want to thank you for your support, I appreciate it very much.”

DATABASE SCRIPT – GENERATING REFERRALS FOLLOW-UP

“Hi ___, this is ____ ____ with Keller Williams. I am just calling back again to ask for your help. Who have you run into who is thinking of buying or selling a home?” “I appreciate you thinking about it. Thanks.”

DATABASE SCRIPT – BUSINESS FROM SALES / PENDINGS

Pending sales are a great source of business. Agents make a big mistake by waiting until the closing to ask for business because the buyers / sellers are overwhelmed at that time with moving, changing schools, getting the home ready, etc. You will be the last thing on their mind. They are happiest from the time that the contract is signed until closing occurs, so capitalize on it.

This script is an easy one, with a great potential. The first script occurs right when the offer is signed. This is based on the agent having Assistants, but if you do not have an Assistant, then use the name of your closer / escrow persons.

DATABASE SCRIPT – BUSINESS FROM SALES / PENDINGS

“___, from now on, my Assistant / Escrow Co. / Title Co. will be taking care of getting your home closed. They will be in constant touch with you and are experts in their field.” “Please call if there are any major problems” “Now, I will be calling every week for two reasons. The first is to make sure we are taking good care of you. That is very important to me.” “The second is to ask for referrals. When you mention to others that you bought / sold a home, they will tell you of their own moving plans.” “Can I ask you an honest question…would you feel comfortable referring others to me as a real estate agent?” “So would you send them my way? Here’s some cards and I will be calling every Thursday between 4 and 6PM. Does that time work for you?

DATABASE SCRIPT – PENDING SALES FOLLOW-UP

“Hi ____, I wanted to make sure we are taking good care of you. Are we? That’s great.” “Now, has anyone mentioned to you that they are thinking of buying or selling?” “Thanks, I really appreciate your support”.

Create an Annuity by Growing Your Business through Your Met Database THE FOUR LAWS OF A DATABASE

1. Organize and build a database 2. Feed it every day 3. Communicate with it in a systematic way (33 touch) 4. Service all the leads that come your way How big is your database?

If less than 500 grow by 50% in the next 90 days.

If more than 500 If more than 1000 get to 1000 in the next 180 days.

get to 1920 in the next 365 days.

Book time every day to grow – put 15 minutes in your schedule Examples: 1000 in database x5% return on database = 50 closings 1000 in database x10% return on database = 100 closings 1000 in database x12:2 ratio return on database = 167 closings © Keller Williams Realty, Inc. & MAPS Coaching

General Public Target Group Network Allied Resources Advocates Core Advocates

HAVEN’T MET MET MET (Inner Circles)

© Keller Williams Realty, Inc. & MAPS Coaching

Category

Haven’t Met

Mets by Category

Group

General Public

Definition

People you haven’t met and who you don’t know Target Group People you haven’t met and don’t know. It differs from the General Public in that you have targeted them as people with whom you’d specifically like to do business Network Group Individuals who know you because you have met them either in person or by phone. Might do business with you.

Met Allied Resources Advocates Core Advocates A very select subset of your Met Group who are in real estate and related fields. Individuals you expect either to do business with or to receive business leads from every year – usually multiple times. Can and/or have done business with you People who not only have done business with you in the past, and will continue to do so in the future, but will actively bring other people to you to do business as well.

Not only can and will do business with you, but they are well placed – owner of a sports team, exec at a large corporation, a builder, etc. – and will send you a steady stream of clients © Keller Williams Realty, Inc. & MAPS Coaching

Sphere of Influence

Ways to grow database:

It’s not who you know, it’s who knows you. Everyone counts – everyone matters.

1) Yellow Pages exercises 2) Adopt clients on other side 3) People you write checks to © Keller Williams Realty, Inc. & MAPS Coaching