It takes up to eight times more money, energy, and time to try and capture new clients than it does to generate business from your past clients and sphere of influence. So ask yourself… “How often do I engage with my database to generate repeat and referral business?”
While it’s always important to prospect for motivated leads, it’s equally important to create systems and processes that will generate lasting referral business from your existing relationships. If you don’t, your past clients, friends, and family will forget that you’re their go-to agent.
Don’t let your database fall through the cracks! Keep reading to discover how to organize your database and stay in contact for a long-lasting, referral based business.
Tips & Scripts to Engage & Grow Your Database
Tip: Organize Your Database
Real estate isn’t one size fits all – and neither is an effective database. That being said, every agent’s database should be well-organized, consistently nurtured, and constantly updated to maximize repeat and referral business.
But if your database isn’t quite up to snuff, don’t worry! Many agents who’ve been in the industry for years still use their smartphone contacts as their “database.” If you’re using your phone contacts as a database too, choose a CRM (like LionDesk or Follow Up Boss) and follow these three steps to start nurturing today:
1. Download your contacts
Use an app like MC Backup (in the Apple or Google app store) to download and save your contacts as a CSV file. Upload that file into your CRM so your entire sphere exists in one place that’s easy to manage.
2. Segment your database
You’re going to engage with different people in your database based on your unique relationship with them. So after you upload your contacts into a CRM, take the time to tag and sort them into different subgroups based on how you know them. You might tag them as “friend, family, past client, former co-worker, hot prospect, seller, buyer, gym buddies, military service, neighborhood name” etc. A well-organized database will allow you to better personalize your follow-up content for different targeted audiences. Remember, if you try to appeal to everyone, you’ll appeal to no one.
3. Send out a simple text
With your contacts sorted, choose a list of your hottest leads (or past clients) and send this simple text message to offer value and collect more contact information:
A simple text script like this is a great way to immediately offer value to your database while you get a feel for the future of your follow-up strategy. You can also confirm and update any missing or outdated contact information in your CRM.
Script: Texting Past Clients
Past Clients are the low-hanging fruit you can easily reach out to for repeat and referral business. Working with cold leads requires a lot of time and energy to convert a stranger into a client. Your past clients offer access to easy wins because you’ve already laid a foundation of trust and positive rapport.
So after you close a deal, put your clients into a quarterly text drip campaign that looks something like this:
These messages may be short, sweet, and to the point… but they’re still packed with care and value for your clients. An annual texting strategy like this one will keep you top-of-mind in case your past clients (or someone they know) ever needs an agent.
Tip: The “11-Star Review” Exercise
When you’re searching for a good restaurant, shop, or hotel, where do you look? Modern consumers live in a “5-Star Review” culture where we seek social proof and validation from platforms like Yelp, Google, or Facebook. Real estate is no exception.
Whether you want to boost online leads or earn repeat and referral business from your database, a solid “5-Star Experience” goes a long way.
So ask yourself… “What kind of experience am I providing for my clients?” Does your website look professional? Are reviews from your past clients positive or negative? How quickly do you follow up with internet leads?
Follow this exercise to earn and maintain an “5-Star Reputation” with past and potential clients:
1. Describe what a horrible “1-Star Review” looks like in your business.
2. Discuss how to boost your client experience beyond 5 stars to an imaginary “11-Star Review.”
3. Decide which 11-Star practices are achievable, and do them!
Script: Social Media CMA Offer
Online leads from sources like Zillow Premier and Realtor.com Pro come at a high price with lots of competition. For agents working on a budget, it’s easy to sidestep these expensive options and reach out to an online database who already knows, likes, and trusts you.
So hop on Facebook, Instagram, or LinkedIn and send this message to 20 of your top friends, family members, and past clients:
Whether people in your online database are looking to sell, cash out on equity, or refinance their home, a simple message with a valuable offer like this one can go a long way. Make sure to make your message 80% personal and 20% business related.
Make a genuine value offer, find out what you can do to help, then keep an eye out for opportunities to offer up your agent services. This 80/20 approach will feel more authentic (and far less salesy) since you won’t be asking for anyone’s business right off the bat.
Tip: Give Before You Receive
According to real estate coach Ricky Carruth, “The problem with most scripts is that they aren’t designed to figure out what you can do for the client – they’re designed to figure out what the client can do for you.”
A lot of prospecting scripts out there make agents sound robotic and transactional. They put too much focus on closing the sale rather than making a genuine connection. This can be especially problematic when you call your database. So rather than finding and following the “perfect script” for your sphere, simply call to check in on people and see what you can do to help.
Have incredible conversations. Be polite, professional, and dependable. Build a personal connection with each past client so they remember you as a close friend, not the agent who just went for the sale. You’ll demonstrate to your past clients that you’re here for them, and that you’re not going anywhere.
Script: Thank, Invite & Inform
A lot of home buyers are moving away from personal referrals and going online to find the right agent. Why? The obvious answer is the rising prevalence of the internet, but real estate trainer David Knox challenges this idea. He says it’s because not enough agents are calling their sphere of influence to stay top of mind. It’s that simple!
Now you might be thinking, “I would call, but I don’t want to bother my sphere.” And you’re right! Bothering your sphere is definitely the wrong way to maintain a good relationship. You can try to call at the right time with the right message, but the best way to avoid bothering people is to always have a favorable reason for calling.
To keep things favorable, try out one of these dialogues from David Knox:
These dialogues show that you’re not just here to sell – you’re here to serve. And as David says, “To be referred… you gotta be remembered!”
Remember – your database already knows, likes, and trusts you, so starting a conversation should never be a problem. Use the tips and scripts in this blog to call 10 people in your database today! You don’t have to ask for business or push for a sale – just ask how they’re doing and see if there’s anything you can do to help. It’s that easy!
Don’t be a forgotten agent. Invest in your database on a regular basis so you don’t miss out on easy repeat and referral business. Because when it comes to growing and engaging your sphere, “Anything works, and nothing doesn’t.”
For a deeper dive into the practices and principles from this blog, check out this episode of The REDX Podcast with real estate marketing master, Ricardo Bueno:
REDX offers real estate professionals a complete all-in-one prospecting platform for generating listing appointments. The platform includes seller leads, a dialer with up to three lines, and a lead management tool for simple follow-up. REDX maintains the position that all agents should be compliant with state and federal telecom laws – learn more here. Call (800) 731-7339 option 1 to learn more about prospecting FSBOs, Expireds, FRBOs, Pre Foreclosures, GeoLeads, and our Power Dialer – or visit www.theredx.com