The First Step: Build a Sustainable Real Estate Business
on Aug 7, 2012
Listed in Business, Real Estate

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In real estate, prospecting and meeting new people every day and then following up on a regular basis is the first step to a transaction. After the transaction closes, staying in touch with your client is a sure fire way to referrals. Your list of clients is your “book of business” in real estate. Where’s yours?

How many names, address and phone numbers have you collected on open house registers, index cards, scraps of paper, your day timer and business cards? Where are they now? When was the last time you farmed that paper database?

Follow-up (or the lack of) will make or break you in the real estate business. Unfortunately many agents don’t have an automated system for follow-up and to tell you the truth, most don’t make the time to manually follow-up with prospects and clients.

The good news is that technology has given us the ability to automate follow-up. But first you’ll need an electronic database. Using a simple Microsoft Excel spreadsheet, you’ll be able to easily update and export the database to most online programs to use to market to prospects and clients.

Automate your database in 5 steps!

  1. Allocate several hours of “quiet time” to complete the process;
  2. Gather all of your prospect and client information sources; address book, registers, etc.;
  3. Open the “Client Database” Excel spreadsheet on your computer;
  4. Start entering your prospect and client information. Under “Client type” add Buyer or Seller;
  5. Save your spreadsheet database.

You now have a personal electronic database that can be exported to your online programs! Add your new prospects and clients to this database every day and save to your computer.

This is your new “book of business” and is the first step to building a sustainable and saleable real estate practice.

Bob Watson is a 25 year veteran of the real estate business who has focused on staying one step ahead of the transformation of the business to an online marketplace driven by technology and social business strategies. Bob currently coaches real estate agents, managers and brokerages in how to succeed in today's business environment.
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