Boosting Database Potential
In my time coaching mega agents I’ve identified three major arenas or stages that leads can exist in, which I’ve come to call “lead arenas”. These arenas will help you categorize your leads and identify where they are in their journey to becoming a productive part of your database.
Sources
90% of mega agent’s leads come from five or fewer main sources. This makes clarity about how you are going to be creating the sort of relationships and networks you need to support your business is absolutely critical.
The Pond
Most agents have a large section of their CRM known as the “pond”, or what I like to call “captured haven’t-mets”. These are people that you may have met at an open house and never really developed a relationship or followed up with or old internet leads we never connected with, essentially all of those leads that are hanging out in limbo.
Met Database
Your Met Database should account for about 38-40% of your overall business, and this is because everything you are doing with your Sources and Pond is simply to get those arenas to flow into the Met Database. The method to make that happen, according to the Millionaire Real Estate Agent, is an 8×8. Think of the 8×8 as an assembly line for your sources to move from a “haven’t met” to a “met”.
If you’re going to have an amazing Met Database, there are three things you have to focus on.
- Defining clearly what a “met” is.
- Have a very clear tagging system.
- Have an amazing communication plan.
Follow those links and get scientific about setting your own systems in place that will help you create a productive lead generation machine.
I trust that this was helpful, and I can’t wait to see how this system boosts your database!
