Should I Share My Realtor Database with My SIL?

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Discussion Overview

The thread discusses a participant's dilemma about whether to share a realtor database with her sister-in-law, who is also involved in direct sales. Participants share their thoughts on the implications of sharing the list, the effort involved in creating it, and the potential competition it may create.

Discussion Character

  • Opinion-based
  • Anecdotal
  • Debate/contested

Main Points Raised

  • One participant, identifying as a consultant, expresses concern about sharing the list, emphasizing the hard work that went into creating it and the potential competition it may create.
  • Another participant suggests that the list could be considered public information, but still feels uncomfortable with the idea of sharing it.
  • Several users mention the importance of valuing the time and effort spent on compiling the database, with one suggesting a higher price to reflect its worth.
  • One participant shares a personal experience about a similar situation, indicating discomfort with sharing resources when they have done the majority of the work.

Areas of Agreement / Disagreement

Views differ among participants regarding whether to share the database. Some express strong opposition to sharing, while others acknowledge the possibility of sharing under certain conditions.

Contextual Notes

The discussion reflects personal experiences and opinions related to direct sales and competition within the industry, particularly among family members.

Who May Find This Useful

Consultants navigating similar dilemmas about sharing resources and managing competition within their personal networks may find this discussion relevant.

T
tvwalsh72
Messages
51
Hey ladies,

Here is the situation. I had to take Dec, Jan, and most of Feb off because my hubby coaches basketball - we just didn't want to pay a sitter for me to go out and do shows. Anyway, I took that time to draft letters for fundraisers and to realtors. I researched organizations and realtors in our area (which is very large because I know of no consultants north of me). It took me a really long time to research the realtors, figure out how to use a database, input the info, make labels and print.

My SIL sells Lia Sophia and At Home America. She just started the At Home America in March. She was at her LS sales meeting on Saturday and a realtor LS consultant said she got my letter and told her she should do the same with her At Home product.

So my SIL, calls me and asks me for my list. She said that she would pay me for it. She was trying to convince me that it wouldn't be stepping on my toes and we should work together. Now I'm thinking that it took me at least 14-16 hours to do the whole process. My SIL is always trying to do things the easy way (long story). What do I do? My first instinct is to say no! If I do say yes to charge her a lot! I'm thinking at least $150 and that's about $10 an hour. I don't know what to do.

What would you do?????

Tricia
 
OH man, what a tough situation. WHat is At Home America? I am not familiar with that company. But right now, it does sound like competition to me... I mean I wouldn't worry, I think PC is hands-down.

Can you tell her to wait awhile for you to follow-up/get some responses?? Then maybe share the information of those who you do not hear from....

I don't know, I am a very generous person usually, but in this case, I really don't think I would share this information! You worked so hard at it!!

I am sorry I am not much help! Good Luck
 
  • Thread starter
  • #3
At home sells home decor, but does have some similar items like simple additions and mixing bowls, beer bread.
 
I probably wouldn't do it. I don't like people who take the easy way out at my expense. I can think of 2 options.
1. Tell her that you aren't comfortable selling the list to her at this time. You worked really hard on it and you aren't sure what the response rate is going to be yet so you have no idea what to charge. You want to get a little traction to see what the list should be worth... then just drop it. If she asks tell her that you are still collecting the data to see what is a reasonable charge. Hopefully she will stop asking after awhile.

2. Tell her that you worked really hard on the list and feel that selling the list to her would be competition but it is all public information and she is free to build the database herself... (which you know she won't do).

It is a tough situation and $150 wouldn't be enough... The price should reflect what you think she could make with the list... that could be 1 show - no biggie to get that many potential contacts. Make it steep ($1000) if you really don't want her to have it but don't want to tell her that. You are worth more than $10 an hr! If she went to a professional list consulting company it would be much more than that! Maybe charge her a certain fee per contact name and not a flat rate. If you do sell it don't undercharge... OVERCHARGE - charge her for her laziness and don't look back!
 
I'm with Heather on this one.

I had a host of a catalog show recently ask me if she could split the show with another consultant because after she sent out the evites the consultant wrote back and mentioned the host never doing a show with her. I have to tell her no I'm not comfortable with that idea because I'm doing all the work. Mind you- I have yet to receive any orders! lol

Good luck
 

Frequently Asked Questions

Should I share my realtor database with my sister-in-law?

Sharing your realtor database with your sister-in-law can be beneficial if she is also in the real estate business and you trust her to use the information responsibly. However, consider the potential impact on your business and whether it aligns with your professional boundaries.

What are the potential risks of sharing my realtor database?

Potential risks include compromising client confidentiality, diluting your competitive advantage, and possibly damaging your professional reputation if the information is misused. Always weigh these risks against the benefits before making a decision.

How can I ensure my database is used ethically if I share it?

To ensure ethical use, set clear guidelines on how the database can be used, discuss the importance of client confidentiality, and consider drafting a formal agreement outlining the terms of use. This can help protect both parties and maintain professional integrity.

What are the benefits of sharing my realtor database?

Benefits of sharing your realtor database may include fostering collaboration, expanding your network, and potentially gaining referrals. If your sister-in-law has complementary skills or services, this could lead to mutual growth in your businesses.

Should I consult with a legal professional before sharing my database?

Yes, consulting with a legal professional is advisable before sharing your database. They can provide guidance on privacy laws, client confidentiality, and any contractual obligations you may have, ensuring that you comply with legal standards while protecting your interests.

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