I’m talking about databases with you today and why you need to keep a database of both buyers and sellers.
From the very beginning, I was taught that every lead needs to go into a database. Even if you get a convincing NO from a buyer or seller, you need to hold on to that person’s contact info in a database.
Not only do you need a database, you need to take it seriously and manage it. It’s the strongest tool you’ve got… maybe other than your sales skills.
I customized REI Simple and it’s available only to my students. Not only does it do CRM, it manages documents for you, handles auto-respond and follow-up. It really is a great product.
You don’t need to spend big bucks on a CRM system. You can use a spreadsheet. The main thing is to keep it current and make action-based notes that remind you to follow up with not just Bob, but Bob who has a new baby.
Listen and learn:
- A ‘no’ from a seller means ‘not yet’ so you need to follow up with them.
- Keep good notes on each individual in your database, and follow up on every lead.
- Virtually every deal results from the follow-up, and a database helps makes follow-up easy.
- If you’re not tracking your buyer and seller leads, then you don’t have a business.
Mentioned in this episode:
- Joe’s podcasts on iTunes: Real Estate Investing Mastery Podcast
- Todd Toback: Next Level Wholesaling
- Database customized by Joe: Simple Lease Options Webinar
- Other databases:
What are you thinking?
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