Are you casting a large enough net? Specifically with your database to get more referrals from the people that you already know. If you want more referrals in 2015, it all comes down to the data. 

Here's what I know, the average consumer moves every seven to ten years. So, if you have 100 people inside my database, you should be getting seven to ten listings every year. If you're not getting 7-10% of the total number of people inside your database to interact, engage, or list their home with you, there's a pretty good chance that you're not casting a large enough net and you're not touching them in a relevant way.

So, let's take a look at some of the different mediums and channels of distribution that you could use today to cast a larger net and touch more people. 

Phone Calls
Agents love making phone calls, but here's the deal--if you're making phone calls to your database, two out of ten answers the phone. That's the game today. We're much more inclined to respond in a different way. It doesn't mean don't call your database, it's still 20%.

Email
If you're an email ninja, you're getting a 17%. But that doesn't mean 17% of people actually respond to your emails, just they opened it up--you might get 2-5% response rate, which isn't bad when you are sending to thousands of people.

Facebook Private Message 
Our studies have shown that Facebook private messages get 50-70% response. It's relatively new and sales people haven't overly spammed it. When you send a private message, you want to do ME mail. For example: "Hey Marni, what a great photo of you and your kids on Facebook." It has to be personal to work effectively.

Text Message 
We all know, text messages get 95% response rate in under five minutes. Like the Facebook private messages, we're going to ruin that eventually. But today we still get a 95% response and working really well.

Direct Mail
Yes actually putting stuff in the mail, you can get a 3-5% response which is phenomenal today. Here's a mailer that's getting a lot of responses--go to Zillow and type in your clients' address. Print out the Zestimate page and highlight the amount. Then do a hand-written note: "Dear (name), I know your home is worth more than (Zestimate amount). Want to know your home's real value as of today? Call, text or email." You can mail it or slide it under their door. Our coaching clients are saying they are getting one out of five people calling them because everybody wants to challenge the value of their home.

Facebook Ads
You know 1%, 2%, 3%, it's a digital ad play. It's certainly better than Google. So, we know that that's available and we know that all of your customers are there.

Video
It's a big channel, it's a great way to get the word out. I know the hang up for most people, is if I do a video, what if no one watches. And the only thing I would tell you is this. Who cares how many people watch it? You just want the right one to see your message. 

Instagram 
The big demographic of growing people on Instagram is people our age. They're saying "This is kind of cool. My kids are on it, but I like this stuff." So, you need to pay attention to Instagram, but what you want to focus on now, is just migrating all the people that you know, email, direct mail, in your community. Just ask them, are you in Instagram, if so, follow me here.

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If you’re not getting 7-10% of the total number of people in your database to engage with you, there’s a good chance you’re not casting a large enough net and not reaching them in the most relevant way.

In the midst of Q1, it’s time to think about ALL of the channels that you can use to touch more people and get more listings. By reaching into your database, you'll be able to capture the referral business you want from the people you already know.


Tom Ferry is a real estate coach and trainer http://www.tomferry.com

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