One of the most important elements of any business is their database. It is through a great database that businesses are built.
So what is a database? A database is a system that can be either stored on your computer or indexed manually. It allows you to organize and collect data and facts. It helps you find information faster, reorganize it easier and make changes as life changes.
Having a large database can sometimes be confusing but the trick is to put the information in order. So how do we organize our database to harvest the most from it?
Clients – these should be categorized into:
- “A” Those who currently send you quality referrals on a regular basis.
- “B” Those who would refer you if they knew you wanted referrals and were taught how.
- “C” Those who might one day become “A” List i.e. current buyers and sellers.
- “D” You know what it stands for and you know who they are!!!
Vendors/Service Providers – These are all the companies that you use during a transaction. They are the companies that you trust with a referral and who in turn will refer you. Again these can be categorized in A B C D.
Real Estate Agents – The agents that you have done business with and who when you get a new listing you can send an announcement and invite to your Brokers Open. Or if you are working with a buyer they can be a great resource if you are looking for a specific property, they may have a listing that fits your buyers’ criteria.
There are also the out of state agents who you can send and receive referrals from. We all know how this works here at ActiveRain!
Of course you can drill down even further and send targeted marketing pieces to specific groups. It is all in the organization so if you don’t have time or the expertise then hire someone who does and reap the rewards of a “Diamond Studded Database”.
Sharon is The British Virtual Assistant who specializes in helping busy real estate agents keep their ducks in a row. Visit her at The British Virtual Assistant.
Thank you to Sharon, author of our guest post for today, for these great tips on categorizing your database system!