Your database should be a place that you spend several hours in a day. Its at the very core of your client pipeline, but show big should it be?

Someone called Dunbar (an anthropologist I believe) has suggested that the maximum number of people with whom you can maintain a meaningful relationship is 150 people. A group bigger than this simply unmanageable for most people.

What do you do if your database is bigger than that? On our team we send out regular and valuable content several times a week to our much larger database and many of these folks come into our inner circle of their own volition when they are ready.

How should you segment your 150 person database?

Create 2 groups. A Hot List and a Warm List.

Hot List

Your Hot List folks are those that will buy or sell a home with YOU during the next 90 days.

Warm List

Your Warm List folks are those that have told you will be buying or selling or those that you suspect could be buying or selling due to a life change over the next 12 months, but at this point they will not be committed to collaborating with you.

How big will these groups be?

For guidance I like to apply the 80 / 20 Rule otherwise known as the Pareto Principle

Applied across your database it would suggest that if your database is 150 persons, 30 folks will be in your groups. And 6 will be in your Hot List and 24 will be in your Warm List.

What do you do if your database is smaller than 150 persons? I can show you how to take advantage of team-based marketing systems and your own efforts to build up a high quality database quickly.

Want More?

Learn on You Tube: Stuart Neal, Edmonton Real Estate Career Coach.

Go to Facebook: Stuart Neal, Edmonton Real Estate Career Coach Facebook.

Read Stuart’s bio: Stuart Neal, Career Coach, Team Lead, Broker & REALTOR®

Start your real estate career. Call Stuart at: 780-760-2014 ext. 3 or go to our Careers page - Ambergate Realty Advisors Team Careers.

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