Time to tame your data­base

Elite Agent - - FIRST PERSON - Josh Phe­gan

DATA­BASES CAN’T BE BOUGHT; they must be built, and it's up to you to do it. Josh Phe­gan ex­plains how a mod­ern take on a sys­tem that worked for his grand­fa­ther can help you suc­cess­fully track your buy­ers and sell­ers.

There's no doubt my grand­fa­ther, Arthur Phe­gan, was a smart man.

Way back in 1972 he cat­e­gorised his sell­ers by the month in which they sold their prop­erty and tire­lessly filled lines of note­books with their de­tails.

At the start of ev­ery month, he'd whisk out the book for the same month from the pre­vi­ous year and make his an­niver­sary calls. Mostly it was just to touch base, but some­times he'd get an­other list­ing and then dili­gently write their de­tails in a new note­book for cur­rent ven­dors. When they sold, he re­peated the process. Sim­ple, right? So why now, in 2016, with a plethora of bril­liant tech­nol­ogy at their fin­ger­tips, do mod­ern agents strug­gle to main­tain a cur­rent, cat­e­gorised data­base they can mine to pro­duce amaz­ing re­sults?

If my grand­fa­ther could main­tain a ‘fit' data­base 44 years ago, you can too. Here's how.

A sim­ple but key skill I'm in­still­ing in the agents I coach is to take own­er­ship of mail re­di­rect­ion for both their ven­dors and buy­ers.

MIND­SET Just like hu­mans, data­bases don't be­come ‘fit' on their own. You have to de­cide to go all-in and work hard to yield re­sults.

Fit­ness can't be bought. So make the choice and own it.

CAT­E­GORISE With­out cat­e­goris­ing your buy­ers, sell­ers, land­lords, past clients and oth­ers, you will con­tin­u­ally be forced to prospect as you did when you first started your real es­tate ca­reer.

Why prospect in­di­vid­ual by in­di­vid­ual when you can mine en­tire groups of peo­ple si­mul­ta­ne­ously? What cat­e­gories should you use?

Buy­ers – All buy­ers start in this field and re­ceive mar­ket­ing such as au­to­mated buyer alerts.

Buyer hit list – Any buyer that has caught your eye by do­ing some­thing spe­cial, be it bid­ding at auc­tion, mak­ing an of­fer or seek­ing a con­tract, gets moved to this cat­e­gory.

If they do these things you know they're ready to buy now. You have an op­por­tu­nity to take them to your up­com­ing prop­er­ties and help them gen­er­ate emo­tional at­tach­ment so they make an of­fer soon af­ter the new prop­erty hits the mar­ket.

Po­ten­tial sell­ers – These are peo­ple you know who own a home but you haven't had a face-to-face meet­ing with yet.

Bet­ter known as the mar­ket ap­praisal, this meet­ing works like a traf­fic light and lets you

Josh Phe­gan is a high per­for­mance real es­tate speaker, trainer and coach to some of the best agents and agen­cies around the world. For more in­for­ma­tion visit josh­phe­gan.com.au.

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