Part one of my database series: explaining your two main groups of people.
This is the first segment of a three-part series on staying in touch with your database. There are two types of people: those you’ve met and those you haven’t met yet. The people you’ve met are your sphere of influence (SOI) or database, the other group is your “haven’t met yets.”
When working in real estate, we’ll constantly be meeting people, and we’ll market and prospect differently to the people we haven’t met yet such as online marketing, open houses, finding foreclosures, probates, and more. The people you haven’t met will still create contacts, leads, contracts, and clients for us, and they’ll be shifted over into your “met” database. However, the “have not met” group will cost us more money and time.
We’ll market and prospect to our met database, and that will lead to clients, then contracts; that’s how we get paid. As you build your business, your database becomes its foundation. You’ll work with both groups of people, but your database is your business’ real support. Your database is much more profitable and even more fun for some real estate agents. Your database will also provide you with repeat and referral business as you develop in the industry.
If you have questions about these two groups of people or any other real estate matter, you can always call or email me. Stay tuned for parts two and three in my database series.