It took me several years but I finally learned a truth about building a business that not only survives but thrives. I'd like to share it with you.

If you are newly self-employed in a field related to real estate, here is the most important secret to discover day one. Real estate is cyclical. In other words, it constantly evolves according to the trends of the economy.

Here is my secret. Please read carefully. This is something all real estate agents and mortgage brokers must do. To build a business that will survive and thrive no matter how moody the economy, you must build a contact list and market to everyone on it weekly.

This is so important to your business that I am going to repeat what you just read. If you intend to build a business that will not only survive but also thrive, you must build a list of acquaintances, friends, relatives, current customers, and past clients and habitually market to them weekly.

In this electronic age it is even more important to keep track of these connections. Remember, nearly every person you already know is a potential source of business. As you proceed with your daily life, remind yourself that everyone you come in contact with can benefit from your services.

Then it is up to you as real estate agents and mortgage brokers to respectfully remind them that you want and expect their business. Remember to regard everyone as a potential source of business referrals.

Now here are the essential elements of the list you will be creating. Retaining this date is crucial.

1- Full name.

2- Preferred email address.

3- Contact phone number and when to call.

4- Where they live.

5- How you have been introduced.

6- One characteristic to distinguish them.

Let's not stop to explain how to build this list but keep in mind there are many ways to accomplish the task. What I want to do right now is to accentuate one critical idea.

If you want to succeed in the real estate industry and build a business that will last through the ups and downs of cyclical markets, you must make the decision to build your database list. And you must start today.

Not too much is necessary to launch your plan. Start with the computer you probably already own and a software program for making an online address book.

That's the easy part because the majority of computers come with this software already installed. If you need a little assistance, call on a relative or neighbor to extend a helping hand in jump starting your efforts. And if you already know how to build a list, then you are one step closer already!

But here is the most important point. You must resolve that you are never going to live through a recession again without a list of customers and referrers to contact every week.

I will discuss what to market and how to market yourself in my upcoming articles but for now I want you do two things if you intend to build a lasting referral business.

The number one step for real estate agents and mortgage brokers is to decide that you are going to add everyone you know and everyone you contact to your new business list.

Do not wait until tomorrow, which brings us to the second step. Promise yourself that you will begin today.

It's time to stop chasing business and build a surviving and thriving business. Mortgage brokers and real estate agents, best wishes for all your endeavors.