“What the heck is Dunbar’s Number?”
If that’s what you just thought, you’re not alone. It’s what I thought the first time someone mentioned it to me.
Dunbar’s Number is a psychological concept that says
humans can comfortably maintain stable social relationships with about 150 people. These are people you know well enough to keep track of who they are and how they relate to you and to each other — not just acquaintances. (More at the end, just in case you’re interested.)
What does Dunbar’s Number have to do with your real estate marketing?
Plenty.
If you focus on nurturing your own personal Dunbar’s Number, you’ll be directing energy toward the 150 people who are most likely to send you new business.
Your “Dunbar 150” in real estate might include:
- Past clients
- Sphere of influence
- Referral partners
- Local business owners
- Service providers (contractors, lenders, stagers, etc.)
- Friendly neighbors
Nurture your 150 by staying in touch in ways that will keep you in their 150.
Here are a few ways to do that:
- Send personalized notes, links to articles you know will interest them, birthday cards, etc.
- Send non-salesy messages such as my Event-themed Staying in Touch letters.
- Write and send market reports and/or your own newsletter.
- Pick up the phone or stop by now and then.
- Host client appreciation events.
- Send referrals their way whenever possible.
- Be a connector. Within your 150, which connections might benefit from meeting each other? A dog-sitter and a pet-loving client? A stager and a new agent? Be the person who connects great people — it deepens your value and your visibility.
- Stay visible on social media — and actually engage with your core people.
- Always, always, always say thank you for referrals and leads.
In a world obsessed with reaching more and more people, Dunbar’s Number brings you back to reality — and to relationships.
As a real estate professional, your business isn’t built on clicks. It’s built on trust. And that trust lives in the 150 people who already know who you are.
Today’s important question is: Who in your 150 needs to hear from you today?
Does this mean you shouldn’t prospect for new clients?
No, not at all. Everyone needs new clients.
But I do know a few agents who have done such a good job at nurturing their Dunbar’s number that
almost all of their business comes from referrals and repeat clients.
That’s the dream, and it’s not magic. It’s just relationship marketing done right.
Carry “focus” into your prospecting efforts as well…
Choose your target audience, then compile your lists and send focused messages. Your target should be a geographic area or a niche that you’ve chosen.
To choose a geographic territory:
Pick the area where you live, or choose a different area you like, populated by people whose company you are most likely to enjoy. For instance, if you like talking with people who have young children, choose a neighborhood populated by young families. If you enjoy talking with retirees, choose a neighborhood filled with older people. Look at any neighborhood in your market area and think about who lives there. Then think about what you might have in common and how much you would (or would not) enjoy their company.
Then become the absolute expert about everything to do with living in that territory.
To choose a niche:
Apply the same thinking. Are there certain people you enjoy most? Are there certain situations (such as probate or pre-foreclosure) that appeal to your nurturing, problem-solving personality? Are there types of properties (such as waterfront, golf, or equine properties) that you love? Do you prefer to work in the city or the suburbs? Or maybe you want to get into farm and ranch properties.
And once again, become the expert. If you’ve chosen first time buyers, know all about financing options and down payment assistance. If you’ve chosen probate or short sales, know all the legalities. If you’ve chosen high rise condos, know all about the HOA’s in every building in your area. If you’ve chosen waterfront, know the regulations regarding what owners can and cannot do in proximity to the water.
When you want to reach any of these people, but don’t know what to say, use my prospecting letters.
You’ll find a wide variety at: Done-For-You Real Estate Letters: Save Time & Effort, Generate More Leads.
More about Dunbar’s Number…
Dunbar’s Number is named after Robin Dunbar, a British anthropologist and evolutionary psychologist. He proposed the concept in the 1990s based on his research into primate brain size and social group size.
He studied the relationship between the size of the neocortex (a part of the brain involved in conscious thought and social behavior) and the typical social group size in primates. Extrapolating from that data, he estimated that humans can comfortably maintain stable social relationships with about 150 people — now known as Dunbar’s Number.
Note* Other scientists have noted that for some people the number might be 80, while for others it might be 200. We are, after all, individuals.
Dunbar proposed nested layers of relationships:
- ~5 intimate friends
- ~15 good friends
- ~50 close friends/family
- ~150 meaningful contacts
- ~500 acquaintances
- ~1,500 people whose faces you recognize
Today’s important question is: Who in your 150 needs to hear from you today?
And, thinking of prospecting, who on your prospecting lists may well become one of your 150 in the future?
