When you consider the various directions of your commercial real estate career, a database should be at the centre of everything that you do. When you connect with a lot of people in an ongoing way, you will find property opportunity to work with.
Far too many agents and brokers overlook the relevance and the importance of their database as they go about their daily activities. They forget to connect with new people and build the relationships that really matter into their business. Over time that can lead to lost listings and lower commissions. The story here is that you must build plenty of relationships through your location, and put relevance into the things that you do with the right people and clients over time.
Choices we make
We all have choices when it comes to our business career and our business activities. The choices that we make should be personally understood and controlled. The brokerage that you work for, and the town or city that you work within will have little to do with your property outcomes.
Most of the opportunities that you create in the industry will be from a personal approach to people and clients locally. So your database should be at the centre of your daily activities in every way possible. How do you get things started? You can track and measure the following situations and events:
- cold calling activities
- meetings created through the week
- conversations with people over time
- opportunities identified and nurtured through relationships
- redundant and old listings
- changes of circumstances for clients and prospects
So there are some real opportunities here to be worked on and activated. Of course there are a number of software solutions to consider when it comes to a property database. Fortunately, most of the professional database programs are advanced and flexible when it comes to identifying leads and opportunities.
You simply need to make the right choices when it comes to the software package that works for you, and that you can afford. There is a preference today for the client lists to be stored online or cloud-based. That then makes the process of review and access easy across a number of computer devices and Internet portals.
Know your client strategy
Understand how you want to use your client list, and where you will be accessing it. Make it easy to update property and client information and access the opportunities that you have identified. Connect your laptop, tablet computer, and cellular phone into the client list that you create, then work the list in every way possible.
The concept behind the growth of the database is around the establishment of profitable alliances with the right people over time. The information that you keep in your client list should be up-to-date and review-able in an easy an ongoing way, so review the content of the list and ensure accuracy into the future. Each morning you can start the business day through a review of the tracked opportunities and the calls that you can be making to qualified prospects.
If you are struggling with your real estate business currently, then spend some more time reviewing and restructuring your client list and client systems; go deeper into the list. Look at the opportunities that you currently have in your client list, and check the accuracy of the information contained therein. There will be people in the list that need property help; you just need to find them.
Grow your real estate business from a basis of information and client contact. That is exactly how you can build those profitable alliances into the future with the right people and in the right way. It is a personal process that cannot be delegated to any other person in your brokerage. Get personally involved in the accuracy and the growth of your client list and database software program.