- Episode 25 -
Webster’s Dictionary defines the “Big O” as, “to arrange or order things so that they can be found or used easily and quickly.”
You knew I meant the word “Organize”, right?
A new year means getting organized - out with the old! In my world, this includes going through all those old files and getting rid of leads that went nowhere; making sure all my active files are in order with all the required documents being up to date; and finishing up closed files by adding those clients to my past customer list, to contact later in the year with a future pop by, home anniversary card, or simple phone call to remind them that I’m still a Realtor and would love their referrals.
Filing is one of my favorite business tasks, and I developed a sure fire system to know the status of my current clients at any given time. Each of my file labels contain the name of the client, the address of the property when you have one, the date you start working with that client (to determine how long it takes from meeting to closing), the type of property they are looking at, and where they came from (i.e. sphere of influence, past client, website, random call, or marketing piece they received). All of this helps down the road when I am developing strategies for past, present and future clients, comparing marketing plans of what worked and didn’t work, and managing my time spent on each deal to see where improvements can be made for the next one.
Since I am a visual person, my files have to be color coded so that I can tell how many buyers, sellers and renters I am currently working with at that moment. I use specific colored labels to represent each type of client:
- Green labels are listings because green is the color of money.
- Red labels are buyers with active offers, with red representing stop to think of all the things that have to be done before the deal can close.
- Yellow labels are for those buyers who are looking but haven’t put in any offers yet - yellow means caution.
- Blue labels are for the renters, since blue represents trust and loyalty, giving you hope that these renters will become future buyers.
When either a green, red or blue label has an executed offer, the label is highlighted in yellow. Once that deal closes and you receive your commission, the yellow highlight is turned to green and the file is closed. For those that never close, or get cancelled for any reason, the label is highlighted in pink.
Sounds like a lot of work, right?
It is until you get the system in place. Then it becomes old habit, and helps you with a fail proof review of your current clients at a glance.
In the end, the “Big O” helps set you up for an Outstanding Opportunity to Overcome clutter with an Open Mind and Optimistic Outlook for the year ahead.
Kay Conageski is a professional Realtor® with The Keyes Company based in Plantation, Florida. Check out her RESAAS profile ›