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The Tom Ferry Podcast Experience

Warming Up Cold Contacts from Your Real Estate Database | This Week in Marketing

The Tom Ferry Podcast Experience

Tom Ferry

Education, Business, Self-improvement

4.71.1K Ratings

🗓️ 15 May 2023

⏱️ 16 minutes

🧾️ Download transcript

Summary

The No. 1 way that people look for a real estate agent to work with is through referrals from friends and family. That means that your real estate database contacts are the No. 1 way that YOU should be looking for business. Your database is a goldmine. Every real estate agent knows that. But what happens when you haven’t touched base in a long time? It’s embarrassing to just come around looking for something again, isn’t it? There are effective ways to warm up your cold real estate database contacts, and that’s what Jason Pantana is covering in This Week in Marketing. He’s going to show you how to move your database contacts from the outer circle to the middle circle and finally back into the inner circle. If you’ve let any relationships slide over the years, this episode is exactly what you need to win them back. Click to watch now, then it’s time to dive into your database contacts! In this episode, we discuss… 0:00 – The No. 1 source of business 5:06 – Organize and pick your contacts 8:34 – Creating awareness 10:32 – Middle circle invitations 13:30 – Getting to the inner circle

Transcript

Click on a timestamp to play from that location

0:00.0

ask yourself a challenge question and ask a test question of every single contact in your database.

0:04.9

Would you call this person?

0:10.2

Real estate is a relationship business.

0:12.2

I know you like you trust you business.

0:13.9

That is the winning combination with consumers.

0:16.3

In fact, every year, the National Association of Realters

0:19.3

publishes a report called the profile of home buyers and home sellers.

0:22.1

And in that report, every year, they analyze how is it that a buyer or seller

0:26.4

comes to work with a specific agent and buy a mile.

0:29.4

Every single year, the number one source of business for all agents everywhere,

0:32.4

buyers and sellers is repeat referral business.

0:35.9

Now repeat means they've worked with you before and they're willing to do it again.

0:40.4

So there's a level of proof already involved.

0:43.6

Referral means they're so confident in your abilities.

0:47.5

They're willing to recommend you to others they know.

0:49.8

In that referral, I call it the referral coefficient because you don't know

0:54.0

how many people that could be.

0:56.4

If you look across your database of past clients and sphere of influence contacts,

1:00.7

you don't have any idea how many opportunities there could be in daily, weekly,

1:04.5

monthly conversations whereby those folks could be your biggest fans,

1:08.8

your raving fans and they're chopping at the bit to talk about why folks should work with you,

1:14.0

whether they're looking to buy, sell, invest, they have to work with you.

...

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