Real Estate Agents - Do You Have Overconfidence in Your Data Base?

On today's "quick hit" episode, Matt and Garrett take a look at who really owns your customers - where do they come from and can they be stolen from you? With the average person knowing about 12 or more realtors in their world, there is a lot of competition vying for business in this field. Our hosts discuss the importance of staying in good flow with your clients, and striking the right balance between feeling confident enough to build your database, but not so overconfident that you simply assume clients will come back to you without putting in the effort. If you're not staying connected with your clients, all it takes is a little bit of time and attention from another realtor to sway them in the other direction.

Matt and Garrett talk about the difference between stealing clients and earning them based on the value you bring. Remember, it's not enough to have a person's number in your database - you need to nurture that relationship, otherwise they become fair game for other realtors. Matt and Garrett explain how to protect your database by cranking up your flow, and how this can unlock the referral side of the equation as well. You'll also hear about the importance of having a positive mindset, being motivated by your competition rather than consumed by it, and not being afraid to "harvest" new clients, while also taking good care of your existing relationships. As you'll hear in today's episode, people move toward value, and whether you're dealing with a new or current database, if you're showing up for them, they'll show up for you.

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Episode Highlights:

• Who really owns your customers? Where do they come from? Why are there so many online lead sources?
• Today is a total "mindset" podcast to help shift your mindset, especially for those who may feel stuck coming into the business or changing to a different marketplace
• The idea came from Randall O'Dowd, who has recently moved from Seattle to Palm Springs
• Randall is confident he can build a database in his new marketplace - every client he has ever worked with, he has earned based on the value he was able to bring
• This is how you accumulate clients
• He can do this in a new marketplace as well
• The average person knows about 12 realtors - there is a lot of competition vying for business
• Don't get overconfident and assume people will continually go back to you
• On the other hand, you don't want to be held back by a lack confidence either
• The majority of realtors do not stay in good flow with their clients after a sale
• Staying in contact with your clients leads to referrals and keeps your name top of mind as a trusted professional
• If you're not staying in flow with your clients, all it takes is a little bit of attention from another realtor, and they will turn in that direction instead
• Clients want to be taken care of, and you can't let yourself become entitled that they will stick with you no matter what
• It's not enough to simply have their number in your database - you need to nurture that relationship otherwise they're fair game to other realtors
• Never take your relationships for granted
• When we all show up and do our very best, it raises the game for the business as a whole
• Protecting your database
• Using the term "past clients" implies that your business with them is finished and they're now free to move on
• Simple autoflow and real estate reviews can make a big difference
• You want to make sure clients are coming to you with their real estate decisions
• Online leads exist because there are "orphan clients" who don't have a strong relationship with their realtors
• Some clients will do this even if you are in good flow with them, but you can let that go and focus on the rest of your database
• Don't be a secret agent, where you make connections with people but fail to send out mailers - make sure they know you're a realtor
• The importance of mindset - being positive and confident in the value you bring
• Be aware of competition, but don't let it consume you
• Think of businesses you want to deal with - you want to go where you feel taken care of
• Ninja gives you the tools to connect with people about the things that are important to them, and gets your name out there so people understand you're in real estate
• Don't be afraid to attract or "harvest" new clients, and make sure you hold onto your current clients by showing up for them
• Show up for them and they'll show up for you
• People move towards value
• Even if someone already has a realtor, talking to them and demonstrating your value increases the odds that they'll refer you - they may even feel more inclined to do so because they weren't able to give you their business in the first place

Quotes:

"This is a total mindset podcast. We run this all the time, especially with new people coming into coaching, or people that are merging into newer marketplaces or different marketplaces."

"Now I'm their personal realtor. I harvested them from somebody else because of who I am, how I was able to work with them, the value I was able to bring."

"That's how you accumulate clients is through earning their trust through the value that you share."

"The other interesting stat is that the majority of realtors are horrible at staying in flow with their clients after the sale."

"It's not necessarily about that one transaction, it's about the referrals. And if you can stay in flow with them, they've got a lot of referrals every single year that they can pass your way if you stay in flow with them and stay in contact with them."

"[Clients] want to be taken care of. And I think it's, it's funny when somebody gets that entitled, That's my client! And it's like, Well, you haven't talked to them in a year."

"Never take your relationships for granted. Because there is somebody that will come in and, on purpose, try to steal your people."

"It actually raises the game of all of our businesses when we are showing up on a better level."

"If you're looking at all the people you've done business with and viewing them as 'past' clients, we're already in a 'behind mindset'... You're affirming that they are now free to work with whomever they want, which they are, by the way."

"The first step is getting your database to come and use you when they need you for real estate."

"Why do online leads exist? Because there's orphan clients. There are people who don't have a strong relationship with a realtor. And they may know 12 realtors, but they don't have a strong enough relationship with a realtor to not click the button on Zillow of the house that they're interested in seeing."

"If one of your clients goes and clicks a button on Zillow, or walks into a new home community, and doesn't tell you about it, that's not their fault. That is your fault."

"Being aware of what the competition is out there in the marketplace is one thing, but letting that fear consume you so that you do nothing and just turn your mindset down a path of, Nobody wants to do business with me, which is the extreme side of it - you don't want to even be heading in that direction with that."

"That's why Ninja works so well. We're going to get pieces out there that help them understand that you're a real estate agent. We're also going to connect with them on the things that are important to them. And that way you can walk into a brand new marketplace or your current marketplace you're in and you can harvest other people's clients, because other realtors are dropping the ball every single day."

"Don't be afraid to get out there and attract, steal, harvest - however you like to put it. And don't lose what you have. Hold on to the people that you have by showing up for them."

"Show up for them and they'll show up for you."

"People move towards value. That's all you've got to remember: If I bring more value, people will move towards me."

"Sometimes those are the people that will actually go out of their way to refer you because they felt bad about not using you because they had to use whoever."

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