Don’t Leave Relationships On The Table Part 3

October 5, 2009

So a key ingredient of Allan Domb’s success is his laser focus on a niche market within real estate.  He’s been working exclusively on a specific type of property (condominiums) in a specific price range (luxury condos priced at minimum $500,000) in a specific market (Philadelphia) since 1980, so he obviously knows this market inside out, left, right, center and backwards, probably better than anyone.

This gives him numerous advantages.  He no doubt has a keen sense of how to price a luxury condo for maximum resale value, no doubt the biggest consideration in any million dollar plus condo owner’s mind.  Anyone he talks to will quickly realize he’s erudite in his target market, and so will want to know more about his knowledge, which he gladly offers.  This knowledge and talking goes a long way to building relationships with these targeted prospects.  And he does a lot of talking.  He mentioned in the webinar he spends about 6 hours per day on the phone talking with prospects!

Systems

The second pillar of Allan Domb’s business is his systems.  During the webinar, Domb went into great detail about how key technology is for making his systems work efficiently, and how his system falls apart whenever any of his staff don’t embrace this technology.  The technological foundation of his business is Agent Office, a veteran player in the real estate contact management software business.  The software serves two primary purposes: a daily task planner and a contact database.  He plans and schedules all of his telephone calls and meetings with Agent Office, often months before they occur.

Domb’s contact database is massive: since the early 1980’s he’s amassed detailed records of over 125,000 people, each of whom is a targeted prospect for Philadelphia area luxury condos.  With Agent Office he keeps highly detailed notes on each client and plans in the software specific dates for follow up with each prospect.  He even has a color coding system for ranking the importance of each prospect so he can easily organize them and so his 3 assistants can readily understand what he’s doing.  So on a daily basis the software lets him know which people to follow up with and the purpose of each telephone call.  He has a To Do list for himself mapped out every day.  He makes over 100 calls per day!

So imagine how much business you’d have if you were just making 20 calls per day!

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Tags: branding, marketing, prospect, prospecting, qualifying, real estate course, real estate education, real estate educators, real estate seminar, real estate seminars, real estate training, realtor education, relationship, relationship building