Agents have abdicated their responsibility to keep in touch with our sphere and past clients, and Zillow has taken over that job and we’re paying for it financially and relationally. What are the problems that come with being overly-reliant on Zillow leads? What are the 3 Cs of successful database management? On this episode real estate superstar, speaker, author, and consultant, Jim Remley shares how we can take control of our sphere and avoid becoming the equivalent of Zillow employees.
Takeaways + Tactics
We have to religiously nurture our CRM
In order to switch from a reliance on Zillow leads, it’s important for us to capture client data and cultivate that data over a long period of time by incubating it in a CRM; and then closing them into transactions and referrals.
An anemic database will be low on referrals
Take the total number of your transactions, and the total number of people in your database. 10% of your database should be sending you at least 1 referral a year. If not you have an anemic database, mainly caused by not communicating.
Leverage the database behind each client
The reality is there’s a time window within which our clients are most likely to refer us, and that is the 31 days after the transaction or leading up to it. During this time, we can offer to throw our clients a “sorry to see you go” or “welcome to the neighbourhood” party and be in attendance to build relationships with the sphere of influence that person has.