367: How to Mine Your Real Estate Database

Happy birthday to us! 🥳Hustle Humbly is turning seven this week, and in seven years we still haven't found a better way to build a real estate business than the good ole fashioned database. So we're celebrating the only way we know how: talking database again! If you're new here, this is your sign to go listen to Episode 9, the original database episode, and grab our free database template at hustlehumblypodcast.com/starthere. But if you already have a database, this episode is for you, because today we're not building one, we're mining it. We walk through the questions you need to ask yourself about your own database (when's the last time you actually opened it and read through it?), the two check-in messages every agent should be sending, and how to go name by name to figure out who's a buyer, who's a seller, and who's sitting on a referral you haven't asked for yet. We even share our own numbers. One of us found that 6.5% of our database has sent more than one referral, the other found 4.7%.  Here's what we cover in this episode: Why you can never truly be "done" with your database The "who do you know" list and how it helps you refresh who belongs on there Why someone who makes you dread seeing their name shouldn't be on your list The two check-in messages to send. A real story about an email that went out to 390 contacts and got 20 responses, no call to action needed Why "everybody already knows a Realtor" is a story you're telling yourself Adding a referral column to track who sends you repeat business How to use closed dates to figure out who's warming up to move again Moving people up the "thermometer" from cold to warm to hot How to track and thank your referral sources so they keep sending more The exercise we did before recording: going through our own databases and finding our repeat referrer percentage Action steps to open your database this week and start sorting Why database is still the best business insurance you have against "the machine" A sneak peek at Build Your Own Business, our live database class starting September 8th Key Quotes & Takeaways: "You can never be done with your database." "If there is someone in your database that makes you go, oh, I don't want to get to this name, they shouldn't be there." "When your business is struggling, database is the answer." "You have to be better than the machine." Products, People & Previous Episodes Mentioned: Episode 9: How to Use Our Database (hustlehumblypodcast.com/9) FREE Database Template (hustlehumblypodcast.com/starthere) Build Your Own Business (BYOB), live starting September 8th Atomic Habits by James Clear Want to toast someone on the show? Send us a voice or video message with your name, who you're toasting, and why! Email it to [email protected]. Leave us a review at http://ratethispodcast.com/hustlehumbly Get your FREE Database Template: http://hustlehumblypodcast.com/starthere Email Templates 101: http://emailtemplates101.com All Resources: http://hustlehumblypodcast.com