Advanced Database Mining Tips

Everyone talks about the database. On this session, Greg and Abe will discuss advanced strategies to monetize the database.

Difference between having a database and having a Databank:

  • A database is a bunch or grouping of leads thrown into a CRM.
  •  A databank is a segmented, highly detailed and organized machine that constantly is being updated – for the purpose of identifying motivated leads at any given time and turning them into business. An ATM machine for Agents.

What is needed? Steps

  • A CRM – you already have it Segmenting your leads into ABCD leads.
  • A is someone ready to buy/sell NOW.
  • B is Someone ready to buy/sell within 3 months.
  • C is Someone ready to buy/sell within the next 12 months.
  • D is Everyone Else.
  • An Aggressive and most important consistent follow up plan.
  • Constant new lead generation.

13 Steps to take

  1. Organize your leads by type.
  2. Add tags for ABC Or you can use urgency box for this. Rest are all D.
  3. Set up Saved searches and market reports for EVERY Lead 1. This would mean knowing what property your leads own or what your buyers are specifically looking for.
  4. Put time in your schedule every day to generate new leads.
  5. Put time in your schedule every day to check lead activity and looking for hands being raised.
  6. Put in time in your schedule for follow up of ABC leads.
  7. Keep detailed notes on people..Do they rent? If they do, how much rent do they get. Are they happy with renter. Could they do better with their money? When is the lease renew? Etc.
  8. Keep moving people around in ABCD based on how their motivation is changing.
  9. Call A leads daily.
  10. Call B leads weekly.
  11. Call C leads Monthly.
  12. Call D leads Quarterly.
  13. Call hand raisers instantly.