Rule of Nines – A Recipe for an Instant Profitable Database
By Rick Guthrie
So how important is a database? Well according to NAR, 64% of all of home sellers in 2013 found their agent through family and friends or had used that agent in the past. Also, 65% said they would use that agent again. So I would say a working database is the most important business tool you have. I believe it can be the most cost effective with the greatest return.
All of that said, traditionally I find agents as a whole don’t and won’t focus on their database. Yes, this includes the veteran agents.
New agents, veteran agents here’s a quick way to kick start, immediately, a very profitable database. I call it my “Rule of Nines”. Here we go:
- Identify Nine of your closest friends or family. (We call these Core Advocates.)
- Get their permission to send them market stats and general real estate info.
- Explain to them how important this is to your career and place them on an 8X8 and 33 touch.
- Ask them if they could identify Nine of their closest friends and family that you could call to put on the same program.
- Explain how crucial this is to your success.
- Contact those Nineand put them on an 8X8 and 33 touch
Quick Math ….. 9 Core Advocates plus 9 of their Core Advocates is 90 in your database immediately.
Research shows, that for every 12 people you connect with in this way, you should expect to net 2 sales. For these 90 that would be 15 sales. Pretty awesome right? I’m finding that agents with no limitations on their thinking get immediate results from contacting their closest Core Advocates. Now if you have someone who is uncomfortable helping you with this, in my opinion, they’re probably not a true Core Advocate.
Once you get this in place start filling the rest of your database using the systems, tools and methods outlined in the book “The Millionaire Real Estate Agent”. If you don’t have this book email me at firstname.lastname@example.org and I’ll tell you where you can get one.
I really encourage you to get this set up quickly utilizing your closest friends and family.
“The rule of Nine and you’ll be fine”
Blog you soon