I’m getting a lot of emails. I’m getting a lot of questions and responses to the videos and the podcasts that I’m doing so I want to go over a few different topics. One of the main ones is the topic that’s been pressing me lately and that is my database and how I feel it is a living breathing thing. A database requires nurturing, it requires attention, it requires focus, it requires massaging and follow-up and maintenance and proper attention being paid to all of these leads coming in.
Let’s be real. We’ve got Trulia, Zillow, realtor.com, all the other dot coms. We’ve got Facebook advertising. We’ve got past clients, sphere of influence, for sale by owners, Investors, buyers, looky loos up, calls, sellers, past clients, all of these different funnels, all of this flood of leads. I don’t know about you but I have more leads than I know what to do with. Between using the Mojo to get me my expired and my for sale by owners and then physically going out door knocking and generating leads through my own efforts, for my active efforts, not my passive efforts, stuffs that come to me, they come to me through Zillow, Trulia and all the others, everything else. They come to you and then you’ve got your active ones that you’re generating coming to you from door-knocking and cold calling and warm follow-up.
What is it that I’m doing right now to maintain this order of chaos? I recently was given an opportunity to test drive a software and I’ll tell you more about it because I’m still in the development phase of this particular software company and they wanted me to check it out. A long story short is I added another technology to my arsenal that may or may not prove to be worth the time I’m investing learning this software and I’m having this conflict between creating all of these databases.
I have a database in my dialer, mojo and my top producer, which is my CRM. Not only that I have a database in my Google contacts which is my phone book and I have a database on scratch pads. Yes, I’ve got a database actually accumulating in my open home pro and contacts there. I have a database in Zillow and Trulia. I’ve got a database of people coming through here. I’ve got a company relocation profile that sometimes sends me a lead, maybe once a month (I have very good leads by the way).
When I do get these leads generating from all these different areas coming from so many different directions but they’re not going anywhere, ladies and gentlemen, what we need to do is understand that you have to have two databases. That’s it. That’s all you can have. There’s going be your cold database that means one that you’re going to hammer through and hammer through often. That is your cold call database. That includes your expired and for sale by owners, not only all of your contacts. Every contact that I’ve ever generated is in that database. It’s in the mojo database. I’ve got like 50,000 – 80,000 phone numbers in there. That includes my warm follow up leads that are in top producer. But the thing is that you will never remove a contact out of your massive database for cold calling. Never delete them unless they say, “put me on your do not call list to drop dead”.
If anything like that happens then you remove them from that main database. Otherwise, the only time that they are shuttled is what I refer to as, is when you’re calling on your massive database – your cold calls or even door-knocking, that’s part of your massive database – door-knocking. Facebook is kind of a more of a massive database although you’d like to think that you’re nurturing them, that’s not a contact management software. Twitter’s not a contact management software.
So what you want to do is you’ve got to figure out who are the people who know you and who are the people who don’t know you. Those are the two databases. The database of the people who don’t know you are in a massive database of hundreds of thousands, tens of thousands, fives of thousand that are in their to call to follow up whenever you get a chance to do your calls. And then those who know you or that you want to get to know you . That’s going to be in your warm database – the contact management software.
We’ve got to pay a higher attention, a much higher attention, a higher-level of active attention invested in recognizing when a lead comes in. And again I don’t know if you’re having this problem, I have this problem – I have leads coming at me. I probably generated two to three leads a day through my means of lead generating and the majority of it right now is either Zillow or Trulia at the minimum wage. I’m not spending a bunch of money on that thing by the way. It’s really the minimum programs and I still generate leads but I also have some other avenues. I do my farming once every quarter and I have my sphere of influence in past clients who are reaching out to me and I’ve got a couple of buyers dragging their feet through the mud. However, really what I’m talking about is all of the new leads, what are we going to do with these as they come in?
Well first of all, as you know that it’s very important to contact the leads within 5 minutes. In my opinion the best thing you can do is contact them within 30 seconds. Really, I mean there’s nothing stopping you unless you’re in the middle of a business meeting, wherein if you’re in a business meeting you probably shouldn’t be able to see that you just got a lead anyhow. So truly, are you in a business meeting? Because if you see you just got the lead then you aren’t really in a business meeting. If you see that you just got the lead then you need to stop whatever you’re doing, pick up the phone if the lead has a phone number and say this: “Hi Mr. or Mrs. Lead, my name is agent with company and I just want to let you know I saw that you went online looking for information on X (whether it’s price value or homes) I just want to let you know that I have it on my profile now or I have it on my desk and I would definitely want to let you know that I’m on it. Do you have any questions? Are you thinking buying? Are you thinking of selling? What’s your story?” Anything, whatever the script is, I have a script for it. But you want to get on their phone, find out who they are, engage them, find out what their plan is, do they have a new home. I mean, engage in dialogue.
If you can tell within a couple of seconds of that contact that they are not interested or that they’re kind of put off by the fact that you called, then make it quick. If you feel like they’re engaging, if they’re like, “Oh yeah, I went on there….I just want to…. I’m looking at that property… I’ve been driving around and I had some questions about it … I don’t know how the process works. They’ll tell you, they’ll open up to you right away. If they answer the phone in surprise, like “Yeah, my wife who actually did it, here she is” and then he transfers you to the wife and then you go, “hi my name is Agent with company and I noticed you went online looking for information on X. If you have any questions feel free to ask me but I just want to let you know I got your information and I’m going to be sending out the request right away. Something to that effect. You call them, make a quick or make it lengthy, however you feel it is based on the conversation.
And then, what’s next? You put them into your core database. You attach a plan of action. You make sure that all of the data is in there. You get their name, you get their number, you get there email address, you get their physical address, you get everything you need to know and put them into that database. And the most important thing that when you do put that into a database is that you attach a next plan of action, that you actually incorporate some reminder mechanism, regardless of the contact management software that you’re using, that you incorporate some sort of mechanism to prompt you when it is time to speak to them again.
For instance, if I get a lead that says, “Yes, I’m not thinking of doing X for another week.” Well, then you need to know or you need to set some alarm or some method, however you do it, so that it pops up. If they say a week then I would say 3 days. I’d call them in 3 days and say, “Hey, this is Agent with company, I just want to find out if you’re getting it closer. I know you said next week but I thought I’d give you a call anyhow. What’s going on?” And they would probably say, “ You know as a matter fact I actually have gone on to 10 other websites and found 10 other agents and I have an appointment.”
You see what I’m saying. What I’m getting at is that you need to be a more actively engaged person into this intimate thing, living, breathing thing that is your database. Your database needs to be looked at and studied. When you’re sitting on your butt and watching TV at night don’t just watch TV, open up your phone and click through the contacts, always want to know who your top contact management leads are. That’s one of the things that I’m going to incorporate this year also as I have a board behind this screen here. I’m going to have my top 10 and that top 10 cannot be written in ink, it’s going to be dry erase marker and I’m going to constantly shuffle. Who are my top ten people? Who were these top ten people inside of that database? Who am I nurturing to the next level? Who is the one that if only they answer their phone, if only I get a hold of them, if only it was next week that I would have an appointment in front of them?
That’s the kind of living breathing active engagement that I want to have you share an intimate relationship with your database. I don’t expect you to study and memorize it but you’d be surprised how many times in the course of your career you’ll find out that Mr. and Mr. Smith just expired and you’re going to be like, “Oh my gosh I remember Mr. and Mrs. Smith, I didn’t get that listing appointment. Oh, yeah, I was told you are there.” And you know, you know they’re in your database. You know something is possible because you’ve been there before and you have a little more intimate knowledge of the records in your database.
I’m not asking you to memorize a city of more than a hundred thousand people but within that hundred thousand or eighty thousand people in my city, I know who the active people are because I’m actively cold calling and door-knocking and engaging so it’s not as if I’m generating a tremendous amount of leads in one city.
They’re rising to the top and as they rise to the top the cream rises to the top and it becomes clear who is the one that is in charge, who are the ones that are happening, what’s the buzz happening, who’s about to list, who’s about to sell, what’s the rotation a and there’s the bottom settlement.
So going back to my original thought and that is you need to pay attention to the leads that are coming in, you need to know how to nurture them, you need to know how to follow-up efficiently with them, you need to know how to place them into a category and make sure that the information and all of the data is logged in. It is critical that you log in all of the information – name, number, email address, alternate phone number, physical address, notes on their history and most importantly a next contact date.
So that’s what I’m dealing with right now. And again I’ve got chaos going on. I imported an old database and it’s okay to do that. I imported an old database. I’ve imported everything. I mean I’ve literally opened up a floodgate into a top producer and I’ve opened up a floodgate into mojo where I’ve got too many things going on and it’s a lot of chaos but again I’m massaging and measuring the rhythm and the flow of my contacts and so I’m a little bit more alert as to when I’m supposed to be calling people. I mean you’d be surprised how many times a you’ll scroll through your database and you’re like, “Oh my gosh, I totally forgot, I know I door knock lady. Where was I thinking?” Or you’ll drive down the street and you’ll think to yourself, “Oh my gosh, that was a door knock ….”
I’m giving you an example because it just happened this morning, I thought to myself, “That lady said she was going to be selling this year, let me look it up.” And I sure as hell did and I scrolled down, I went into my contact management software, I lived up the street and I saw that they are on the street. She had no next call date so she would have fallen through the cracks if I wasn’t actively engaged. This is therefore a fine example of how even I am capable of dropping the ball big time and that is by not following up properly or most importantly, going in and massaging the database and remembering and having it all in one central location so that when you go to reference it, it’s there. When you go to look up the information it exists and there’s a record of it.
I’ve told you before, make sure you have everybody in there, put everybody into that database so that when it pops up you don’t have to look for, it it’s there, you’ve got a history. If they’re duplicated you merge the duplicates, if it’s just a single one make sure you got all the data in there and you’ve got a listing lead and everything is legitimately followed up.
Pay attention when you get these new leads, pay attention to where they’re going, pay attention to where they’re being monitored. Only maintain two databases, a massive database of cold calls for sale by owners, expired, past clients, sphere of influence, everybody who you probably should call that you’re not calling, but the machine will make you call once you hit dial and it automatically just starts calling people in mojo. All of a sudden it pops up on the screen and you’re like “Oops I didn’t want to talk to him,” click.
If you don’t want to talk to them then don’t even keep them as a data. Otherwise, call them up, say, “how you been, how is it going, it’s been several years, remember when I didn’t sell your house, I just want to let you know I’m still in the business, have you had anybody, what’s going on, how you’ve been, are you getting my emails.” Hopefully you guys got them on you contact management plans.
Again, a thing that you do with your contact management software is you put in the new leads and you assign a plan of action. The minimum, at minimum they’re getting your monthly newsletter. That is the minimum that you should be giving is your monthly newsletter. If not, more. A quarterly card, a Christmas card, a daylight savings. I mean I can give you one a month an excuse as to why you could reach out to these people. Once a month minimum you get these people in there on a plan of action. Have I beaten that horse to death yet?
Okay, so another one of the things that have been coming up here in my search for clients and coaching clients I have one left right now. I’m dealing with one coaching client and probably eight or nine people who are sitting on the fence who are reaching out to me to coach.
One thing I want to say about my coaching is I don’t want to call it coaching anymore. I know when I have converted to in the last couple of weeks I’ve been working on a program and it is now live and you can check it out. It is called situational coaching, situational training, situational mentor, situational advisor and that is what I’m going to come to be with you my very very astute students and listeners.
I’m going to be putting up a program which is already on the site if you go to www.yourrealestatesalestrainercoach.com you’ll find it there. It is called situational advisor. What that is I have developed a program that in the past as you know my one-on-one coaching would cost $400. In that $400 you would have access to my marketing package which just as you know has a couple little inserts and it’s got quite a bit of stuff, just the stuff that I’ve collected over the years – fonts, templates, postcards, my door knocking template hangers. Stuffs that you may or may not use but for me it’s just sitting there might as well share with the world. A couple of different presentation templates from when I was back with the RA and all sorts of stuff, just all sorts of random stuff that you can have. My marketing scrapbook is what I call.
I share that with you for $400 a month and you would physically speak with me one-on-one for 30 minutes a week. That was $400 – aka one hour/two hours $400. So you’re technically paying me $200 an hour for the coaching sessions and then access to that database. So I’ve changed that because I don’t like having you feel as if you have to even commit to a month. I’ve recently had a few coaching clients just pop on and say, “James, can you fix this? Can you do that? I’m having call reluctance. I don’t know exactly what you’re doing at the door. I’ve listened all your episodes and I don’t quite get what this Slam Package is. How do I create the territory? Where’s my form? Who do I say? What do I say? How do I door knock? I don’t want to door knock.” All of these one-time questions are situational and so there might be a whole new breed of consulting opening up through this portal but I’m just going to call it situational advisor.
What you’ll do at this point now is $100 for one hour. That’s it, whatever topic you want to attack you click on the button you pay 100 bucks and we go right into it and I’m telling you people that 100 bucks is so well spent. It’s not like we sit and chit chat. I get right to the point. I mean we might have two or three seconds or a minute of dialogue about your pay history but more than likely you’re my coaching [inaudible 17:46]. We have engaged in the past or we have like a pre-call, I get to know you a little bit. But then as I get to know you within that first couple of minutes I understand what the problem is and I get straight to the point and we find out what your dilemma is.
I recently had a coaching client reach out and said “James I got call reluctance, what can I do? I need to have your coaching but I only really need to tackle this situation.” I said, “Let’s just do 100 bucks, I’ll give you an hour. I’ll hit record and we’ll do it.” We didn’t want an hour and you know who you are. Within one hour I felt great and he felt great. He was back on the phones, the situation problem solved. I had another one reached out to me and said, “James, should I be door knocking this? Where should I be getting my territory? What should I be leaving at the door ? I want to understand the door knocking but I don’t want to do a coaching call for all the other stuff. I just want to understand what to do when I’m at the door. What do I say? What do I hand them? How does this work?” I told this lady, “Why don’t you just buy me for an hour? Pay one hour, one-shot, 100 bucks.”
Let me put it this way. If I could pay… right now because I’m trying to publish this book. If I could pay Michael Hyatt – someone who I respect, highly respect as a publisher as the CEO of a publishing company and as a podcaster and as a blogger, as a successful businessman. If I could pay him an 100 bucks for an hour I’d do it. I’d probably pay him 500 bucks for five hours because I got a lot of questions and I’ve listened to all of his stuff I bought one of the $300 programs on how to publish a book but they’re still some pieces missing, some specific pieces of the formula that are missing. I want to be that to you. Like I said, I’d gladly pay Michael Hyatt 100 bucks an hour. I’d pay him 500 bucks for five hours. I don’t know how much more I’d pay but the information is valuable and it’s worth it so if that’s the case I’ve said enough about that. It makes like a long commercial for my coaching.
As you all know I don’t have time for coaching man, I’m out doing 100 calls a day and knocking on 100 doors. I really don’t have time for it, but you pay the money I’ll donate my time. I’ll get the problem solved. If we don’t solve the problem, in my opinion it’s kind of a money back guarantee. I can’t imagine that you’d say, “James that was a waste of an hour.” It just doesn’t happen. I’ll solve your problem. Enough of that.
Another question that came up recently was: What is in the slam package? Again, I can help you build the slam package and I think in the previous conversations people are always asking me what’s in the slam package? I think I have a slam package. An example of a slam package is simply a slam package is not what you put in it, more so as much as what you do with what you create. In the MLS you are provided… in most MLSs you are provided templates for creating a Form package or a CMA package so when you select all of the comparables and you go to hit print there’s a button probably that reads CMA. In that button that reads CMA on your MLS there’re probably also options for cover page, intro letter, market analysis, market study, what to do, where your money goes, why to hire a real estate agent, my guarantee to you, all sorts of templates that are sitting in there. That is the slam package.
The slam package is also put together in a binder, a professional binder. For me, I use a Unibind binder. I bind it, I stick it and leave it in the front door of the house. The slam is not necessarily what’s in it. You have comps and you have a cover letter. What you need to put into a slam package is your energy, exhaust it in getting it to the front door and slamming it on their doorstep. Originally it was from that song from Onyx – Slam. Remember (singing) “Slam, dop doo-dop, dop doo-dop, let the boys be boys.” Hey I’m not a hip hop rapper. The point is that it was more of like the Slam and getting it in their hands. The Slam Package – it wasn’t ever necessarily a package. It’s the delivery of the package is the slam in effect.
That answers a lot of your questions out there. However to be honest there are a few extra answers that I do put into the Slam Package but it’s no secret what they could be. I mean, as it’s a lot of comps, maybe what Trulia suggests as the price, maybe some recent news, maybe a company resume, 21 reasons why you should hire me. All of those extra inserts, those I can throw in there. Part of it is manipulating templates so that it matches your CMA.
I guess what you need to do is if you want to create a perfect slam package then you’d want to get coached by me and then we can develop that.
I believe that’s the rest of my effort today in sharing with you the wisdom and the flaws of an agent who is trying to succeed in this industry. If you ever have any questions, feel free to post them on the page. I have a Facebook page if you want to join up there. If you want to never miss an episode make sure that you log into the system accordingly and by whatever means necessary and that would probably be the website. There’s an email section there where you put your email address.
On a final note, I have a second podcast – I have several podcast but the only ones you care about. I have a second podcast – it’s called Real Estate Sales Trainer and Coach Daily. It’s not every day. I’m trying to get there daily. If you’re not subscribed to that or if you’re subscribed to one and not to the other for those of you who are watching the video maybe you should check out the podcast because it’s got a lot more in there but subscribe to both of them because they’re completely two different feeds so don’t think that they’re one and the same, they’re different.