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One of the country’s top sales agents has learnt that a large database isn't necessarily better, having halved his contacts and more than doubled his business in just 12 months.
Ranked number two in the 2013 REB Top 100 Agents ranking, Marcus Chiminello of Marshall White in Victoria told attendees of the Ideas Exchange in Sydney that quality always trumps quantity.
“In 2008 I had 707 contacts on my database and I was writing a little under $400,000 in commissions. That’s decent money but I knew I could do more," he said.
“So I decided to really focus on my business and to really work on my database. I halved the number of clients I was speaking to on a regular basis, and kept the ones that were getting me listings or were actively helping me grow.
“The next year I had just over 300 on my database, but I was writing over $1.5 million in commissions. My goal was $500,000, and I was aiming to stretch to $700,000 – but I doubled what I imagined I’d achieve.”
By breaking into a tight circle of elite business people in his patch, Mr Chiminello said he shifted from chasing listings to attracting them.
“It’s almost like a professional referral network, but I call them my VIP network," he said. "They’re the people I take out to coffee on a regular basis, they’re usually financial planners, lawyers, even my dentist. People in the community who have regular communication with the people I cater for.”
Having grown his database of 300 VIPs to over 700 in 2014, Mr Chiminello is set for another record-breaking year.
“But they’re not just anybody, they’re all quality individuals who may or may not have transacted with me, but they refer a lot of business through to me.
“I’d say that 85 per cent of all of my business is generated through this VIP network,” he said.
Mr Chiminello said he is looking forward to entering this year’s Top 100 Agents ranking – Click here for more information about the ranking.
