I did some database work today I added about 27 new property records to my database and linked pictures and owner information.
One of the things that you must get in the habit of doing is getting your records in your database when the pile is small. The tendency is to what till you get a break in the action and then come back and backfill. The problem is that it takes more time than you think and that pile is getting bigger by the day.
I may have mentioned this earlier but what is the best way to eat an elephant? One bite at a time!
Your database is your bank account and if you manage it properly you can go into your database and make periodic withdrawals. If you really master it your database will be serving up opportunities on a regular basis. What do I mean by that? If you do your “databasing” correctly your database can send you alerts when a prospective seller should be ready for a call.
Further, if you set it up correctly your data base can even produce your daily call list for you and help you keep track of the A, B, and C prospects as they rotate into a position to do business. In my data base, there is a record for each owner, property, and company. That is an important distinction because unlike residential real estate a principal can have more than one property, one ownership entity, and company that presides over it all. The beauty of that is that once you have it in the data base and linked you can send one letter to one owner and not sixteen of the same letters to the same owner.
Another important aspect is that you can keep track of what they own and where and how they own it remember they often try to hide the ultimate owner. I have one guy in my database that owns 7 different properties in two different entities. Another neat thing is that I can link agents to properties so that if there is a price change or I list a similar property I can go back to my data base and alert them by doing a group search or property specific search.
When I got started my database consisted of 3 x 5 cards, a Rolodex, and manila folders everywhere. My data base allows me to send broadcast emails, individual emails, group emails, it links to social media and sync’s with my iPhone and iPad because it is actually in the cloud.
They say that “cleanliness is next to godliness…keep your database clean”!