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Are you a real estate agent struggling to determine how many leads you need in your database to build a successful business? The database turnover formula can help. This formula will help you determine how many leads you need to call every three months to avoid losing potential clients.
To get started with this formula, let’s assume you have 1,000 leads in your database right now. If you were able to call 100 of those leads in the last 30 days, it would take you around 10 months to call your entire database. This is too long, and it increases the likelihood that potential clients will disengage or buy through another real estate agent.
The amount of leads you need in your database is the amount you can call in a three-month period. This means a good agent will have a great conversion ratio if they keep their database size to the amount they can call in three months. For example, if you plan to call 10 leads every day, five days a week, you need 600 leads in your database that you’re willing to contact every three months.
But what about leads that you don’t need to contact every three months? If you don’t need to contact them that frequently, remove them from your working database and place them in your nurturing database. This will help improve the quality of your working database, which should improve your conversion ratio.
If you don’t have enough leads for a working database, consider generating leads through active lead generation strategies, purchasing leads, or asking your company for leads. The key is to add more calls if you can’t call all the leads you have rather than adding more leads to your database.
Remember, if you have any questions about leads or the business of real estate in general, please feel free to reach out to me by phone or email. I would be happy to help you.
