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4 Ways to Dominate Your Market
You're ready to own your market, stay ahead of your competitors, and become a top-producing real estate team dominating the local market share. If the goal is clear, the road to achieving that goal can be hard to imagine... until these essential tips come into the picture. Let's look at fresh and timely strategies that your real estate team can leverage to help you climb to the top of your market. 1. Leverage technology in the right ways Not all technology adoption may be the right choice for your business. Nowadays, there is so much PropTech out there — but what your team needs is the right tech tools. As a best practice, you should strive to leverage technology in the right ways that create tangible and trackable value. Think automated nurture marketing, eAlerts, and the generation of meaningful insights. On the other hand, you might want to rethink the deployment of technology in areas that could negatively impact the experience that your clients have when engaging with your business. For example, speed-to-lead is crucial, but no one wants to talk to bots. Instead, it's ideal to have real humans who are seasoned marketing experts communicating with your precious customers. Being specific about what, how, and when you are using your technology can help you retain a people-centric, value-driven real estate brand culture. 2. Build an accountability process Pop quiz! Are you and your team actually achieving what you set out to do? Are there areas of your workflow that fall through the cracks? Are you measuring your progress towards concrete production goals? If you answered these questions and realized that you're not capitalizing on a clear, goal-oriented strategy, it's a sign that you need an accountability process. All of the top entrepreneurs have accountability practices. Accountability is all about blending the big picture and the immediate moment to create consistent progress toward a goal. Accountability begins with setting realistic and achievable goals. Then, that larger goal is broken down into all of the smaller phases and steps that need to be taken in order to achieve that larger goal. Let's say it's your goal to close on 20 transactions in a year. That means your team should be closing five deals per quarter. To close those five deals, you will need to be working a certain number of leads to ensure that five of them will convert in the future. Become more accountable and efficient by mapping out the actions your real estate business needs to take, helping guide your day-in-day-out workflow strategy. Pro Tip: Leveraging the right tech can actually help your team become more accountable. If you have a back-end team portal that is customized to your unique transaction workflow, it can be much easier to keep tabs on what tasks have gotten done, who's responsible, and what has been overlooked. For example: if your team sends out a closing gift to clients at the end of every transaction, you need to ensure that the gift is being planned and ordered ahead of time. If this is programmed into your project management portal, the reminder is automatically there. You can tag the team member in charge, they can fulfill the task, and voila! Never miss another gifting opportunity again. #3. Set consistent life and work routines Maintaining a strong work-life balance can help you stay motivated, boost creativity, and increase productivity. You're much more likely to succeed if you're feeling uplifted, secure, and are prioritizing your wellness. When you're unorganized and not taking care of yourself, you're likely to spend more time working but ultimately getting less done. An effective way to improve your workflow is to create a consistent daily routine. Make time to take care of yourself and your work tasks, helping you fall into the rhythms of a strong daily groove. Pro Tip: Everyone is unique, so the optimum work and life schedule will naturally vary from person to person. Take time to look in and find the process that works best for you. Encourage your team to do the same. #4. Prospect, prospect, prospect If you want to beat the competition, one of the most important things that you need to be doing is getting serious about your prospecting. To boost your market share and access new opportunities, you need to be consistent about reaching out to leads. Investing in your lead generation capacity can help you build up your lead and client database, fueling your sales funnel and allowing you to dominate your market. To view the original article, visit the BoomTown blog.
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6 Lists All Agents Need to Succeed
Broker Bryan Robertson shares six must-have lists that will keep you organized, drive new clients and make your business run like a well-oiled machine. Here's Bryan: Lists can be powerful when used properly. They imply organization, impart control and enable understanding. Instead of a "to do" list, I'm talking about lead lists. Instead of trying to explain a complicated customer relationship management (CRM) solution or an expensive training program, I'm going to tell you the six lists you need to succeed in this business. If you've got these and work them right, you'll close deals. The 6 lists every Realtor needs to succeed: Your sphere of influence Your past clients Your "A" leads Your "B" leads Your "C" leads Business development contacts If you've got people in each of these categories, you've already got a good start. What most agents need—and seem to pay a fortune for with consultants, advisers and coaches—is the definition of who to put in each of those lists and what to actually do with the lists. It's not complicated, as I'll explain. Who is in each list? Sphere of influence: Friends, family, past colleagues outside real estate. Past clients: Duh! For new agents, this list will come. "A" leads: Anyone buying or selling in the next 90 days, who are preapproved and motivated. "B" leads: Anyone buying or selling in the next six months, who are organized, serious and seem loyal. "C" leads: Open house contacts, website leads and anyone "thinking" about real estate. Business development: Builders, lawyers, accountants, referral agents, etc. Just to be clear on the ABCs, a lot of agents waste time massaging and cultivating their B and C leads as much as the A leads. In a word: DON'T! This is a numbers game, and you will never convert every lead. Conversely, don't treat your "A" leads like Gollum treats The One Ring in The Lord of the Rings. That one client you really need to close is not "your precious." Clients can smell desperation and clinginess from a mile away. Provide good service, but balance your energies on other clients and prospects. What to do with each list? What's the reason most agents never do business with past clients? FOLLOW-UP! Even if they like you, if you don't reach out and touch them once in a while, they will forget about you. Don't take it personally, but if you don't send me a Christmas card or a "Happy Birthday" via Facebook, I'll probably forget you, too. So, the crazy, insane, ultraclassified secret to successfully using lists is... SEND THEM SOMETHING OCCASIONALLY!! There, I said it. That's the secret. The cat is out of the bag. I've blown it for all the top producers. If you follow Brian Buffini, then you'll send them something every month. If you're like me, I send them something six to eight times a year. Whatever you do, send them something so they know you're breathing and you'd like them to send you some business. Now, seriously, what you send them is up to you. Here are some specific suggestions, but you'll find dozens of options from every sector of the industry: Newsletters (short and useful) Personal notes (NO PITCH, just say "hi") Phone calls (NO PITCH, just say "hi") Emails (useful information) Gifts (something small) Appreciation party invitation Letters (yes, in an actual envelope) Postcards (the big ones) Are there other ideas? Sure. The point is that you send them things that are useful and genuine. If you treat them like just another cog in the system, they'll pick up on that. Read up on "mass personalization" and you'll understand what I mean. Just a tip: Your MLS drip for buyers is NOT a contact. That buyer probably gets the same stuff from realtor.com, Zillow and Redfin. Your MLS drip is meaningless. Send them something about the neighborhood they're looking in. That's useful and will get their attention. What is the business development list? Rather than paying for leads or hoping that the next buyer at an open house will write an offer, you need to be proactive. The purpose of business development is to CREATE BUSINESS. For the record, that doesn't include whatever advertising or marketing program you're running. This list includes people you talk to about frequent, repeat business. Let's say you want to sell trust assets (homes of seniors who die). You like working with the families and understand the process. You need to reach out to trust attorneys and promote your skills to them. Set up meetings and discuss what you offer. Build relationships with several trust attorneys and keep pushing for why you're the best agent to sell those homes. Another group is builders. As agents, you've got contacts on the lending, investor and builder side. Okay, put that to use by building a team of people to buy and develop properties. Sure, many builders have these relationships already—but then again, they may not. It's up to you to figure out what they need and how to cultivate the relationship. When do I drop people from the lists? Patience is a virtue and, unfortunately, many prospects have very little of it. Your sphere of influence and past clients are most likely to remain stable and grow. Those two lists should seldom see people drop off. The other lists will see people come and go regularly. Don't take it personally. Here are some thoughts: Spend one to two hours each day on lead generation and cultivation. Drop leads when they tell you they've gone elsewhere. Drop leads when you determine they're wasting time or aren't serious. Don't fear losing leads — generate new ones. Customer service and your lists The whole real estate business is based on customer service and how good you are at providing it. You don't even have to be great at marketing or sales — just ensuring the customer is happy can go a long way. Harry Gordon Selfridge is credited with using the phrase, "The customer is always right." His store, Selfridge's, was all about providing an exceptional customer experience. Keep this in mind with everything you do with the people on your lists. Make people remember you. Make people want to remember you. If you do, those lists will grow and grow. To view the original article, visit the Zurple blog.
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What Are the Best Tips for Successfully Nurturing Real Estate Leads?
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Using a Client Referral System for Real Estate Leads
In business, client referral programs involve a process of asking your current (or recent past) clients to refer you, your business, and your services to other people--people within a network and a sphere of influence. Typically, referral programs are free (no strings attached) or linked to an offer or incentive for the referee. Referrals remain one of the best ways for real estate agents to connect with qualified, warm leads. Increasing your referral business can significantly boost your sales–and with much less hassle than trying to convert online leads. Research indicates real estate referrals are crucial for growth and the easiest way for an agent to get referrals is through past clients who had a positive experience with them and their brokerage. Even with all of the digital information and options we have at our fingertips these days, we still look to those we trust for referrals and recommendations. In fact, 84% of consumers say that they almost always trust referrals or recommendations from their friends or family when it comes to products and businesses. A real estate CRM not only helps you get more referrals but it also helps you track referrals more effectively, increasing your odds of converting them to clients – whether it's right away or down the road. What you do with your referrals, specifically how you manage and keep in touch with them, can make a significant impact on your business. To view the original article, visit the IXACT Contact blog. Further Reading 65 Sources of Real Estate Referrals You May Have Overlooked 5 Professionals Outside of Your Network to Get Referrals Friday Freebie: Guide to Asking for (and Getting) Referrals How to Generate Real Estate Referrals Using Local Online Groups Brokerage Marketing Secrets: How to Help Your Agents Get More Referrals
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Which Marketing System Is Right for You?
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5 Real Estate Follow-Up Rules You Need to Be Following
Ready to level up your real estate career and begin generating more income? Read on! We're sharing five must-follow rules to expand, grow, and scale your real estate business. Agents that successfully follow these guidelines typically see more transaction sides, more closings, and more revenue. It's not magic — it's a data-backed approach based on findings from a study conducted by RealTrends in 2021. Let's explore the tips derived from the survey analyzing how marking practices and contact database size may impact performance. 1. Marketing Should Target Both Potential New Leads AND Former Clients Did you know that including your entire sphere in your marketing plans can boost your success by an average of 9% more transaction sides? Agents that only focus on attracting net-new clients are missing out on the opportunities for business introduced by their past clients. Your past buyer and seller clients are sources of referrals. Staying in touch with them through regular outreach boosts your chances of being recommended to one of their deal-ready friends or relatives. Furthermore, past clients also offer opportunities for repeat business. Your past clients will likely eventually become sellers and buyers in the future. If you're able to maintain a strong connection, they will be more likely to choose you as their agent again. 2. Implement a Systematic Follow-Up Process for Every Contact Agents who do not employ any kind of systematic follow-up generate 12% fewer transaction sides than those who have a formal strategy for working new leads. For agents who have a formal strategy in place for both new leads and past clients, the difference in transaction activity is 22%. Lead outreach and follow-up should be approached on a lead-by-lead basis. Individually curated follow-up is more effective than dry, generic advertising. Not only does this approach build a connection between your sphere and your business, but it also delivers real, substantial value to your leads. Your leads don't gain anything when you send out a conventional "let's do business" email. They already understand that you are there to do business, and you're not really offering them any new, innovative value. On the other hand, your leads do benefit from customized, specific messaging that speaks to their needs and circumstances. For example, if you know that your lead is a first-time homebuyer concerned about securing financing, you will be able to grab their attention with personalized messaging. You might share a guide for preparing for a first mortgage and an overview of the escrow process as attachments to that "let's do business" email. Your follow-up becomes value-driven rather than value-lacking. 3. Workflows Should Use a Mix of Contact Types Real estate teams that do not use both programmatic and social media advertising typically see 29% fewer transactions on average. When reaching out to your previous clients and new leads, you should combine a diverse mix of contact types — including programmatic and social media advertising. Social media should be a key component of your lead generation and outreach strategy as consumers spend an average of nearly seven hours a day online, with 145 minutes dedicated to social media. If you want more eyes on your business, make sure that your ads are coming up when your prospects are scrolling through their social media feeds. 4. Aim for 10+ Touchpoints Per Person, Per Month Want 39% more transaction sides? That comes from making 10 or more touchpoints per person, per month to all of the contacts in your database. Reaching out less than ten times per month is not going to introduce the success you're hoping for. But, when you achieve ten or more outreach touchpoints per lead each month, you will boost your chances of securing business by moving leads through your sales funnel. Increasing the number of touchpoints sent to each lead can help you retain the opportunities for business that are sitting in your CRM. Since you're top of mind, your leads will be less likely to seek another agent. 5. Grow Your Database Beyond the Tipping Point of 500 Contacts Agents whose database contains more than 500 contacts have an average of 25% more transaction sides than agents with databases smaller than 500 contacts. Investing time on marketing and networking action plans can help you grow your database beyond the "tipping point" of 500 contacts. If your database currently has less than 500 contacts, getting the contact information of your web traffic should be a top priority for growth. To do so, include captivating calls to action that prompt site visitors to submit their contact information when interacting with your website. Then, add them into your CRM so they begin to receive your communications — putting more leads into your seamless, "rinse and repeat" sales funnel that's been achieved by following these five tips. To view the original article, visit the BoomTown blog.
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7 Things You Didn't Know You Could Do in Google Sheets
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Real Estate Agents: Cash in on the Money in Your 'Trash'
One of the biggest mistakes that real estate agents make is thinking that cold leads are dead, trash, or not valuable. In reality, your leads are playing the long game with their real estate transactions. They're thoughtfully approaching one of the biggest transactions made in an entire lifetime. For them, buying or selling a home is a marathon — and leads aren't moving from the starting line to the finish line in one step. In order to win their business and cash out on the value sitting in your CRM, you need to start playing the long game, too. Busting the "Lead Quality Myth" World-renowned real estate success coach, Verl Workman, said, "The goldmine in your database is those 3 and 4 year-old leads that are sitting in BoomTown that no one is working. I like to go in and look in one of my agent's trash leads and work through them and say, 'Hey, look, I just did four contracts with your trash.'" In other words, there are leads in the "Trash" or "Archive" category on your CRM that actually might convert. When you call them "dead" and stop engaging, you're leaving money on the table. According to a study from Sirius Decisions, 80% of prospects are deemed "bad leads" by sales teams, yet still go on to purchase within 24 months. Agents need to rethink the way they've thought about the sales funnel journey in the past. Let's review the truths about lead flow and how online leads — which are lower in the funnel — actually work. Research has found that: Only 25% of your leads are ready to buy at any given time. 50% of leads are qualified, but not yet ready to buy. Nurtured leads make 47% larger purchases than those who buy immediately. Your leads take time to covert. It's a process. Instead of seeing colder leads that are farther out from conversion as "weak" or "dead," start thinking about them as your future business opportunities. If only about a quarter of the leads in your CRM are conversion-ready at any given time, you need to be constantly working that remaining 75% so you can build up a continual stream of conversions to fuel your business. Not only will you prevent hitting a "drought" after closing on your current deals, but you'll also be making sure that you're retaining the business in your CRM. Long-Term Nurture Plans Are Essential for Accessing the Goldmine in Your CRM When strategizing your lead follow-up and nurture plans, work smarter — not harder. You need a seamless, technology-enabled system to automate your long-term lead nurture plans. 7 Ways to Stay Connected with Leads via Email: Introduce yourself and your services with a welcome email Ask for more information about their position as a buyer or seller Send out gift cards to local businesses on holidays, birthdays, and special occasions Share testimonials of past clients Provide tips for preparing for a mortgage (for buyers), or how to prepare your home for listing (for sellers) Promote deals that close successfully Discuss the common pain points of a transaction and provide helpful solutions to overcome obstacles Pro Tip: Make your website more engaging so your leads can gain value by visiting your site again and again. While your website needs to serve as the main landing spot for your online traffic, your site should also delight: Leads that are already in your sales funnel Past clients Community members Become a true hyper-local market leader by generating content that appeals to your leads beyond their sales funnel journey. After they've signed up for your email list and have been added to your CRM, the leads in your sales funnel should be able to go to your website for helpful information regarding their transaction — through home buying and selling guides, and financial information to help them prepare. Your website should also be a resource to continue supporting your past clients after closing — with helpful new homeowner tips, or a list of service providers in your area. Build trust, reputability, and a presence within your neighborhood by publishing locally-driven content — like shoutouts of all the small businesses in your area, or a list of the best things to do in your community. Once it's posted on your website, you can recycle all of this content through email drip strategies and social media to boost your audience even further. To view the original article, visit the BoomTown blog.
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Generating Leads and Boosting Business
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Investing in a Real Estate CRM? Consult These Tips First
It's no secret that a real estate CRM can be a big investment, especially if you're partnering with one of the industry's leading CRM software. We know that partnering with a new CRM is a giant leap. But, performing software-specific due diligence can help you feel confident and excited about the newest addition to your tech stack. Software Shopping 101: How to Analyze a Potential CRM To help make sure that the CRM you choose has all of the features you need to streamline your workflow and drive more success, you should always spend time evaluating the system. One of the most important aspects to focus on is usability. In other words, you can only maximize the returns on your CRM investment if your team is using the system to the fullest. Before making the purchase, you should know which CRM will be the best fit for you and your team. Pro Tip: CRMs are not one-size-fits-all. You'll need to analyze what challenges you're trying to overcome to determine which software will best suit your team. For example, if you are losing too many leads because you're not following up properly, you'll want to shop for a CRM that automates and streamlines lead engagement — allowing your team to follow up quickly and effectively every time. 3 ROI-Boosting Tips for Adopting a New CRM 1. Master Lead Follow-Up If you're not following up with your online leads, you're likely not converting them. According to the CRM + Agent Adoption study from REAL Trends: 92.13% of brokers named follow-up and relationship marketing as the most-used CRM feature. 86.52% of brokers named drip marketing as their most-used CRM feature. 70.79% of brokers named follow-up reminders as their most-used CRM feature. Warming and engaging leads are critical for the long-term success of your CRM. BoomTown's data has revealed that the most successful agents are typically the most responsive agents who provide stellar service to all of their clients. As a result, BoomTown's features improve agent response rates — helping users reach, warm, and convert more leads. 2. Invest Time in Software Training and Agent Support Investing in a CRM does not end once the purchase has been made. If you want to see strong returns from your CRM, you need to continue investing time, energy, and work into the software. When first introduced, your team of agents need to be thoroughly trained to use the CRM. As you continue using the CRM, your agents need continual technical support and additional training sessions to ensure that everyone is familiar and confident with the new system. Further down the line, agents need to be held accountable for using the CRM properly. To see results, the agents on your team should be working with the CRM and integrating it into their daily workflow. Pro Tip: When teaching agents how to use a new system, make sure that you make time for individual training. Ask each agent on your team if they have any questions, or if they are struggling with any aspects of the new system. This allows you to address the specific points of confusion that may be holding your team back. 3. Be Patient Success takes time. When adopting a new CRM, be patient and wait for the results. Once you integrate the CRM into your workflow, you may identify areas of your real estate business that need to be optimized. For example, you may find gaps in the lead warming process and learn that you need additional support. As a result, you may need to create an ISA team or recruit new agents. In these cases, you may need to wait until you've hired and onboarded the new talent to see the whole system work seamlessly. Perfecting the way your CRM works for your business is a work in progress. Give it time, be flexible, and continue monitoring how the software is working for your business. What to Do if Your CRM Isn't Generating Returns If your CRM is not generating returns even after you've followed these three steps, there might be a bigger issue with how your team is using the system. In some cases, your team could be using the wrong system that does not integrate with your business. In this situation, it may be best to re-evaluate your purchase and determine if it's time to switch to a new, more effective platform. Or, your team members may not be using the CRM how they should be. If this is the case, working on agent accountability may be helpful. Your team needs to consistently invest the time and energy into the CRM to achieve a strong ROI. Identify the problem and then seek a solution that will set your business up for success. To view the original article, visit the BoomTown blog.
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Why Real Estate Agents Should Prioritize Meaningful Outreach
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5 Do's of Superior Customer Service as an Agent
Being a real estate agent basically means you are an expert in both the real estate industry and customer service. If you want to take your customer service from good to outstanding though, focus on doing these five things. DO Be Prompt No one likes to be kept waiting, but when it comes to one of the biggest transactions of a person's life they like it even less. That's why it is so important as a real estate agent that you respond to any client or lead inquiries promptly, and always show up for appointments on time. That probably seems like a no-brainer when working with a client, but it can be tough to keep up with new leads in the same way. A real estate CRM can help you here. When you set up automated lead capture, your CRM can send you an immediate email and/or text alert every time a new lead comes into your database. This will help you to respond to them promptly, and that helps your odds of turning them into a client. DO Communicate Throughout the Process As we've said, buying or selling a home is a huge moment in most people's lives. They want to know that the agent they have trusted with it is on top of everything. The only real way to do that is to communicate with them at every stage of the process. It might be a bit time consuming to do, but it will be worth it when you have a happy client who wants to refer their friends and family to you in the future. DO Listen to Your Clients Letting your clients know what you are doing for them is very important, but so is actually listening to what they have to say. This can be for things as essential as what their neighborhood preference for buying or things as subtle as a sport their child plays. Both pieces of information can be vital to you having a successful working relationship with a client. A good way to ensure that you pay attention whenever you are on the phone with a client or prospect is to take notes. It helps you focus and also gives you information to draw from in the future. Then, you can enter these notes directly into your CRM's contact profile so you always have all the information you need right when you need it. DO Use Listing and Closing Activity Plans You have a lot of things to remember for a lot of different leads and clients at any given time. It is understandable that a few of those things could slip through the cracks or get muddled. A good real estate CRM can help prevent that from happening by providing you with Listing and Closing Activity Plans. These will provide you with a list of tasks that should be completed for any given transaction – and they are set for appropriate time intervals in the process. You'll never miss a step or confuse a listing again. DO Respect Technical Communication Preferences Every person you work with, or hope to work with, will have slightly different wants and needs when it comes to buying or selling their home. You know that and you work hard to accommodate those differences and make each transaction a personal one. The same should go with the means of communication you choose for every contact. Email may not be the preference of some people who are much older and perhaps looking to downsize. Phone calls might make first-time Millennial buyers uncomfortable. How do you solve this? Easy – you ask. Once you have asked how a contact prefers to communicate with you, make a note of it in your CRM. So when in doubt, all you have to do is check. Your contacts will be happier and your overall communication will be better. You've got the knowledge and talent, now take your customer service to another level and see your real estate business become even more successful. Give the five do's above a little more focus, and you'll see the payoff. To view the original article, visit the IXACT Contact blog.
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Improve Your Workflow with CRM and Transaction Management
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How to Turn Leads into Lifetime Clients
What is the one thing that will separate you from your colleagues or elevate your business to the next level? The answer is simple--it's referrals and repeat business that will help you lift your business and give you a competitive edge with your colleagues. When your real estate leads turn into loyal clients, they will use your services more frequently. Did you know that 32% of sellers recommend their agent three or more times since selling their home (NAR)? You must wonder why referrals are a powerful source of your leads. It is because people trust recommendations from friends and family more than any advertisements, and once clients are loyal to you, the recommendations will keep coming. Now, your next concern would be, "I am so busy, and it is so hard to create loyalty." This statement is very true. However, if I told you that there is a database that can help you create loyalty and not take much of your time, I am sure you would like to know more about this database. Read along and you will find three key actionable steps that you can take to convert your leads into loyal lifelong clients. Step 1: Generate New Leads There is no repeat/referral business until you have captured leads. Lead generation is the first step in getting life-long clients. We will explore how to generate leads that can help you achieve repeat/referral business. There are different ways to generate leads, from prospects to inbound marketing, and contradictory advice on which way works best. In all certainty, the best techniques that work are the ones you feel comfortable with and can do well in. Successful Realtors usually use multiple strategies working on their behalf so that they can capture leads in every way possible, whether it's through email, website, Google search, inbound marketing, and hosting open houses. Therefore, it is important to have a website that represents your brand personality and brand voice. Another equally important factor is email as it is a powerful player in driving leads! It may sound like a lot of work than just selling houses, but a CRM makes it easy for you to generate, capture and manage leads properly. Step 2: Nurture and Convert Leads into Clients Once you have generated new leads, the next step is to nurture and convert those leads into lifelong clients. You may wonder, How can I do that? When you communicate regularly with your leads and make sure that they remember your name, they will automatically get in touch with you when it's the right time to either list or buy a home. The important thing to remember is that sending content that leads find useful will help them remember you and they will keep that email instead of thinking of it as a sales pitch. Step 3: Keep in Touch to Generate More Referral and Repeat Business Ninety-two percent of consumers trust recommendations from friends and family above all other forms of advertising. Referrals are valuable since they come to you instead of you chasing them. Keeping in touch builds a rapport that helps clients remember your name so next time their family/friend is looking for a Realtor, they will recommend you. Keeping in touch is as simple as wishing a contact a happy birthday, checking in every few months to say hello or sending a holiday greeting. These simple ways can help you get referrals and repeat business. To view the original article, visit the IXACT Contact blog.
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5 Tips for Higher Productivity and More Real Estate Success
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Lone Wolf Provides Agent Business Bundle for $199 Per Year
One of the outstanding opportunities created by the large scale of a company is the ability to bundle services that deliver outstanding value to customers. Lone Wolf is the largest software provider in the real estate industry with a wide variety of software services to suit MLSs, associations, brokers, teams, agents and transaction coordinators. At the National Association of REALTORS® Legislative Meetings in Washington, D.C., Lone Wolf announced that associations representing over 665,000 agents in the U.S. have renewed Transactions (zipForm Edition) as a member benefit. As a sweetener, some of those associations also opted to receive full transaction capabilities, along with eSignature from zipLogix Digital Ink (powered by Authentisign), LionDesk CRM, and the zipForm Mobile app. If you will recall, before NAR sold zipLogix to Lone Wolf, Transactions (zipForm Edition) was a member benefit of NAR known as zipForm Plus. Now agents/associations need to pay for the service again. The Bundle For those agents who are not in a market where their state association, local association or MLS has renewed with Lone Wolf, two bundles are being made available for agents—the base member benefit for $179 per year, and the premium bundle for $199 per year. This bundle contains the LionDesk CRM—another company acquired by Lone Wolf—as well as the built-in eSignature solution, zipLogix Digital Ink (powered by Authentisign). It is a lot of software for a pretty low price: Transaction Management Forms Management Unlimited Document Storage eSignatures CRM In addition to the low price, agents and their clients will have access to the Lone Wolf Marketplace, making it easy to order title service, home warranty, insurance quotes, and integrated applications like Earnnest (safe earnest money solution), Updater (moving concierge), RentSpree (rental marketplace), and Seller Shield (disclosures). To view the original article, visit the WAV Group blog.
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6 Ways Agents Use Elevate CRM for Business Success
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[Podcast] Decoding Real Estate: Growing Business through Your CRM with Ricardo Bueno
You hear the acronym "CRM" all the time in real estate, and you probably even know it stands for Customer Relationship Management. But... are you really managing it? Ricardo Bueno, from Follow Up Boss, can help. His first take? "Your phone is not your CRM!" Ricardo joins Decoding Real Estate to offer strategies, tactics and checklists for utilizing a CRM to its fullest potential. Get tips for managing your contacts, mastering the software, automating "busy" tasks, engaging your sphere, how to revive your touchpoint campaigns, and how to evaluate and segment your database. Decoding Real Estate is hosted by Reggie Nicolay and Genie Willett. Subscribe/Follow Download high converting campaigns And be sure to check out these helpful and relevant links: Follow Up Boss Realtors Property Resource To view the original article, visit the RPR blog.
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How to Stay Connected With Your Growing Clientele
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How to Get More Business From Your Database
If you are a real estate agent, then you have a contact list--but maybe you don't know how to leverage that contact list. Your contact list contains all your past clients, prospects and current clients. Maybe you have the contact list on Google or Outlook, but you have no idea what to do with it. If this sounds like you, then read along and find out how to leverage your contact list to gain more business and get more organized. This article will tell you exactly what steps to take to become a master in effective contact management. Begin using a good real estate CRM system Ask yourself, do you have a good real estate CRM? One that helps you be effective and efficient in contact management? If the answer is no, continue reading and find out why it is so important to have an effective CRM system. A good CRM (Customer Relationship Management) system is the key to effective contact management and managing your sphere of influence (SOI). Remember, you need a CRM that is tailored to real estate; hence Outlook or Gmail will not be sufficient. A real estate CRM not only effectively manages your contacts, but also manages your listings and helps you send pre-written marketing communication items that have been specifically designed for your business. Segment your database into groups and categories Why is this important? To have personalized conversations with your SOI and organize your business effectively, you need to categorize your contacts. The first step in doing that is to assign every contact to the appropriate contact type: prospect, client, business-to-business or personal. This is very important as it helps you segment and differentiate your contact list and it also helps you communicate with each group in a different way. The emails and letters you send your clients should be completely different than the ones you send to prospects. Gather more information on your contacts as time goes by It is very important to have as much information as you can on your clients. It doesn't necessarily have to be right off the bat, but over the course of time, you can gather more information. What kind of information would you need? This goes beyond having a phone number, mailing address and email. We are talking about interests, hobbies, birthdays, various details on your contact's partner and children. Why is this important? It will help you have meaningful and relevant conversations with your clients that can help you gain more referrals and repeat business. Use your information to have more meaningful conversations Now that we have established how important it is to gather information about your clients, the next step is to use that information and have a meaningful conversation. Imagine not dreading a call to a past client because now you have something to talk about that's relevant to their life. Getting to know your clients as real people is so crucial in building those lifelong relationships. Who do you think John will refer next time he is asked about a real estate agent? You. Be sure to wish your clients Happy Birthday, Happy Home Purchase Anniversary, etc. Your CRM will remind you of these dates when the time comes. Doing these small things makes the biggest impact on your clients and their relationship with you. Build a marketing plan that grows your business You got yourself a good real estate CRM system, categorized your contacts, got some wonderful information on most of them. Now, this is where it all starts. You have built a foundation of your CRM and it will help you market to specific groups. For example, you just received a listing and you want to share this with your current prospects who are trying to buy a house. Your CRM will help you create a mass email, or select a specific group and create mail merge letters and labels and help you send the email to only those prospects. Since you have done all the heavy lifting, now it is only organizing those marketing plans to target different groups depending on their needs. To view the original article, visit the IXACT Contact blog.
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The Relationship Cloud: Mashup of Social Media, CRM and Big Data
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3 Mistakes You're Making in Your Real Estate Database
Your database is your secret weapon -- your end-all-be-all money maker. BoomTown conducted a study and found that there is a direct correlation between database size and transaction volume. In other words, the more leads you build into your database, the more money you can make. But a lot of agents don't properly work their database and end up leaving money on the table. To leverage your database successfully, you need to focus on: Fueling your pipeline through strong lead generation Nurturing those leads through lead follow-up  Here are three mistakes that you're making with your client database, as well as some best practices to help you make the most of your ultimate secret weapon. 1. Thinking Leads Are Trash When They're Actually Just Cold/Lukewarm The goldmine in your database is those three- and four-year-old leads that are sitting in BoomTown that no one is working. I like to go in and look in one of my agent's trash leads and work through them and say, 'Hey look, I just did four contracts with your trash. — Verl Workman, Workman Success Systems. In most cases, leads don't convert overnight. When you add new leads into your database, you should be ready to work them for the long-term until they're conversion-ready. Instead of thinking that leads are worthless if they're not ready to convert immediately, leverage a system that allows you to follow up and check in regularly to remain top of mind. You do want to have a continual stream of business months down the road. You don't want to ignore cold or lukewarm leads only to lose them to a competitor when they're finally ready to proceed with a transaction. #2. Not Having a System in Place for Lead Engagement/Follow-Up Agents need a strong model for continual lead engagement and follow-up. If you don't have a system in place — ideally a technology that does it all for you, like BoomTown's Lead Concierge Service — you won't be able to access the power, money, and opportunities in your database. In addition to technology platforms that generate, engage, and follow-up with leads, working with an ISA (Inside Sales Agent) service to focus on sales will allow you to keep your lead funnel active. This is critical for bringing out the full benefits of your database. Engage your leads by regularly sending them a variety of relevant messages. 7 Email Outreach Ideas for Real Estate Leads: An introduction email An email to establish service expectations Content (market reports, buying and selling guides, local events calendar) Testimonials from past clients A "get to know you" email The "where have you been?" email Requesting a review after closing Pro Tip: When reaching out to leads, focus on sharing relevant content that they'd actually want. Agents should earn their way into their leads' inboxes by providing them with vital information, advice, and insights. Get creative and strategize your lead outreach and follow-up to establish yourself as a local expert and an indispensable part of a real estate transaction. Remember to follow up with past clients, as well. Referrals and repeat business can be an incredible source of business for agents, but you need to stay in touch and engage your database contacts. #3. Not Leveraging Bulk Actions When you have an organized database, you don't need to go from contact to contact and engage leads one by one. Instead, you can put your leads into categories or tag their contact with indicators that allow you to leverage bulk actions. For example, you can tag all of your past leads by their closing date. This will allow you to send out a bulk "Happy Closing Anniversary!" message with a complimentary market report attached. Not only does this help you stay current with past clients, but it also sets you up to generate repeat or referral business opportunities. Having your contacts tagged by transaction category, like "buyer" and "seller," gives you the chance to send out targeted content and email outreach that's relevant to specific needs. Using bulk actions for large groups can provide the leads with a customized experience through personalized messages — while saving you the time and effort of writing thousands of emails. It's a win-win that can strengthen your lead communication by smart use of your database. To view the original article, visit the BoomTown blog.
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Real Estate CRM Basics
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5 Key Ways to Create Buyer Loyalty
For real estate agents, buyers are one side of the coin and sellers are the other. While you'd never dream of selling someone's home without a listing agreement, the buyer side of the coin is a little trickier. These days, buyers are hesitant to sign buyer agency agreements for a number of reasons. So, what can you do to create buyer loyalty during and after a transaction? Take a look at these five key methods. 1. Maximize the client experience. Buying clients know there are hundreds of listings online that they can easily look up and sift through themselves. They're also particular (and rightfully so, since they're making one of the biggest investments of their lives, and maybe even searching for a forever home!). Ask yourself: what's the value I provide and how can I maximize this person's experience working with me? Pay attention to your buyers' wants, preferences and working styles. Move at their pace. Be accommodating and show you care. Respond quickly so they know you're there for them. Share innovative ideas about how they can achieve their goals and find the ideal property. Always do what you say you will. 2. Have a well-thought-out system in place. Think of the lifecycle of a buyer from start to finish. First, create and deliver a top-notch buyer presentation. Demonstrate your strong points, differentiators and specialties, and tell your potential client everything they can expect from working with you. Then, don't be afraid to ask them to sign a buyer agency agreement, and be sure to highlight the benefits if they do. Remember, if you never ask, you'll never get it. Plan when and how you will stay connected to your buyer leads and clients. Use a CRM to stay organized and set up automated reminders, email drip campaigns for different groups, personal messages, specific property details, and information to help them feel prepared for the different steps of the process. If you end up finding that perfect home for your buyer and closing the deal, don't forget about everything that comes after… 3. Show your gratitude for the business. This is a brilliant added touch and one that always makes a new homeowner feel special and appreciative. It could be a handwritten thank you card, a follow-up call to see how they're settling in, a small house-warming gift, or a pizza gift card for dinner on you during one of those busy first-move-in nights. 4. Stay in touch. It's still not over. That satisfied buyer is now one of your most powerful contacts. You've taken them through all aspects of your process, and you successfully closed the deal! As long as you've done a good job, this is a happy and satisfied client. If you play your cards right, that means they'll remember you, refer you and use you again if or when the time comes. But you must stay in touch. Far too often, real estate agents forget this part, yet an increasing number of studies are showing it's one of the most important. If you don't keep up the communication and stay in touch with your buyers, they'll likely forget your name or simply not think of you first when a new need arises. A few of the best ways to keep in touch with past clients are cards or e-cards on their move-in anniversary, monthly newsletters, personalized check-in text messages, birthday emails, and handy referrals to trusted contractors and trades as time goes on. And don't forget about the buyers who you didn't end up closing with. Maybe they're still looking, but the process is slower. Or perhaps you weren't the agent to find their perfect home this time around, but that doesn't mean you can't be next time. Keep in touch through personal texts, monthly newsletters and email drip campaigns that ensure you stay top of mind. 5. Don't dry up and become stagnant. It's easy to get caught up with the everyday business operations that, during your busy times of year, can often feel nothing short of chaotic. Don't let that stop you from progressing, continually learning and educating yourself in the real estate space. Along with these ongoing efforts, come fresh and innovative insights on all aspects of buying, selling and investing. When you're educated, well-informed and always on the cusp of the latest trends and industry movements, you're equipped with invaluable information to be shared with your contacts across so many different marketing and communication mediums. And that translates into you becoming an authoritative figure with current and trusted information in the industry. Once you consistently earn trust, you consistently get the business. To view the original article, visit the IXACT Contact blog.
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How to Make an Impact with Personalized Marketing
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Get More ROI from Your CRM
For many real estate agents, their CRM is the epicenter of their entire business. It's not only the database that holds every single lead and client, but also the tool that empowers agents to follow up, power digital advertising, automate marketing campaigns, and remember their to-dos. But at the end of the day, technology is only as strong as the one who uses it. And since most powerful CRMs are a considerable investment, we put together some ways that agents can extract as much value as possible. 1. Build on a Long-Term Lead Pipeline Many agents scale back on their ad spend and lead generation efforts when buyer demand is high. However, consistently fueling your pipeline is critical for long-term, sustained growth and success. Now is the time for savvy agents to lean into their lead generation efforts, build that database, and prepare for the market to shift. Real estate markets are always changing and when the landscape shifts, you need to have the tech and teams in place to make sure you're ready to seize opportunity. "A lot of agents are pulling back on their online buyer acquisition spend, but we doubled ours because we're in this for the long game," says Mary Maloney, HomeTown Realty Powered by eXp. "We look at the relational side of the business, not just the transactional side. And when you're in it for the long game, the market is going to shift. So, if you're front-loading your database with the client, that will be ahead of the next market shift. When the market does shift, you're going to have amazing business." 2. Empower your client experience When competition is stiff, and technology is automating services left and right – what makes you stand apart from the rest? Providing a VIP, white-glove client experience will leave a lasting impression. It is important to never forget that you are in the service industry! The experience your clients have will make or break your sphere of influence, and amazing experiences can build the foundation for a lasting, thriving business. Leverage tour CRM to anticipate their needs: Work with a CRM that empowers agents with both a mobile app for agents and a consumer-facing app Set up every lead with eAlerts (automated emails that will send hand-picked listings based on their search history) Utilize Smart Drip campaigns to automate personalized messages using insights from your CRM Be ready with information and OVER-communicate. Especially during a time when the market is in flux and buyers and sellers may be on the fence Have a clear process from the beginning and set expectations along the way. The worst experience is when you're unsure of next steps and you feel in the dark. 3. Prioritize Lead Engagement Ninety percent of agents give up on a lead after four touches. Meanwhile, 70% of those leads will purchase a home within the year, just with another agent, according to NAR. Ask yourself: What process do you have in place for following up? Are you or your agents responding to their own leads? What is the response time? Are you being notified by your CRM? These are important questions, but most agents ignore them. Why? Most agents would agree: following up is pretty boring and can be extremely difficult. However, as most agents would also agree, it is absolutely necessary for your practice. To make it easier on yourself, you need to streamline. The simpler you can make this process, the better equipped you'll be to convert more leads into clients and continuously go after these potential new clients. With the right system, long-term nurture plans will help grow your database, both in size and value, over time. Having eAlerts provides leads who register, but aren't ready to buy or sell, notifications that act as an automated drip campaign. A good CRM creates an environment that works towards your lead's schedule. So when they are finally ready to take the leap and make purchases, you'll be the first agent that's top of mind. 4. Work Smarter with Predictive insights Your CRM should be tracking every action a lead takes on your site, and surfacing insights your agents can act on like "back on site after a month" or "just favorited a property." Even "currently on site." These alerts let you know they're ready, and they're active, and you have a reason to reach out. It's critical to have information about your leads at your fingertips. This means utilizing powerful software and the latest technology to make your prospecting so much more effective. 5. Stay Dollar-Productive Hitting that GCI goal means taking control of your time. It's easy to get caught in the whirlwind, but real results come from working on your business instead of in it. On average, BoomTown customers report that they are empowered to spend 50% more time on dollar-productive activities. Hot leads are prioritized, systems are optimized for accountability, and agents are freed up from admin work. It comes down to prioritizing your time based on your most dollar-productive activities, leveraging the value of your database, and diversifying and growing your lead sources. Most real estate professionals are experts in their field, but that doesn't mean they're experts at digital marketing, or necessarily need to flex their expertise to nurture buyers and sellers who are far-out in the buying or selling process. 6. Accountability and Transparency It's crucial to arm yourself with the tools that'll both gather that data (lead behavior, ad performance, communication metrics), and translate it into insights and reports that work for you. This is how you optimize your business and systemize your success. And this is true tech partnership—a predictive CRM that prioritizes your work and makes it seamless to launch campaigns and understand performance. For example, there are several data points and KPIs that'll determine if your conversion rates will be on point. In BoomTown's CRM, the Vitals Dashboard is one of our most-used features. Like a report card for a team or brokerage, it gives brokers instant insight into agents' performance and benchmarks it against other users with similar team size and tenure. The report measures: Active opportunities Under contract opportunities Closed opportunities New leads New leads that have been contacted New leads that have not been contacted Response times An agent leaderboard and an agent-specific version let agents track and monitor their own performance, and brokers can take action in real-time to reassign leads, send a bulk text or email, or send a reminder to the agent. When the data is easy to digest, it's easy to course-correct and make sure you're optimized for success. 7. Integration tools Your CRM can't do it all. Nothing can! That's why it's important to work with a real estate CRM that plays well with others—meaning that it can integrate with a variety of other tools that you need. Your business has unique needs You deserve to use the tools you like (and ditch the ones you don't) And there is no one-size-fits-all solution To view the original article, visit the BoomTown blog.
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Friday Freebie: Finish 2021 with More Money in Your Pocket with this CRM and All-in-One Marketing Platform
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Stay on Top of Your SOI All Year Long
Who can tell me what a real estate agent's best source of free referral business is? Exactly, your Sphere of Influence (SOI)! And who can tell me the best ways to keep the well full and the fountain flowing? There are actually a number of ways to stay on top of your SOI, and we'll explore some of them today. But the single trick you most want to remember when it comes to keeping in touch with your SOI is: Recurrence! For the uninitiated, your SOI is the group of people you already know whom can contribute an almost limitless number of contacts and networking to help you find clients. There is an innumerable list of people that can make up an SOI. Anyone from former teachers, your spouse, your fraternity brothers, coworkers at an old job, the guy who runs the landscaping service you use, the person who stages your sellers' homes, your extended family, and so many more in between. The trick can be keeping those various plates spinning at the same time; a dropped plate could mean a missed opportunity. Not everyone is ready to buy or sell a house today—right now. And you aren't always going to be top-of-mind for your SOI when the time comes when someone they know is ready to purchase or unload. Scheduling a sphere of influence marketing campaign can ensure you are automatically staying in touch with them all year long. It's recommended that you keep your SOI list right around 150 people. This ensures you can maintain meaningful relationships with these people. Some companies will even guarantee extra closings if you consistently send real estate mailers to your sphere every month. Planning ahead can be as simple as understanding who makes up your SOI and figuring out the best ways to stay in front of them. Sometimes it's a conversation at the coffee spot, or attending HOA meetings in amazing neighborhoods, or just taking the time to answer a question from someone who's "thinking" about selling, but not ready yet. But the absolute key is to stay in front of them, making your contact with them predictable and commitment-free—and by all means wash, rinse and repeat. ProspectsPLUS! knows the power of repetition. That's why recurring outreach is critical and will ensure your SOI knows you're their go-to for real estate referrals (and rewards). Learn more about their 3 Extra Closings Guarantee here.
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Stop Losing Business Because You're Busy
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Boost Your Deal Flow with This Easy Step
Deal flow is the rate at which business proposals and pitches are received. Investors, including investors in commercial real estate, use this as a general barometer of whether business is good or bad. The same term is also used, alongside lead generation, among real estate professionals focused on residential property. More referrals lead to better deal flow overall. Leveraging marketing automation technology is a key step in accelerating real estate deal flow. Although there are many tools that can help, the cornerstone of any strategy is CRM. CRM, short for Customer Relationship Management, enhances visibility across your customer ecosystem. A powerful all-in-one solution is no longer nice to have; it is an absolute must-have. A CRM serves your needs in three powerful ways: It provides complete visibility into where your leads and current customers stand in their transactions It enables you to nurture your leads consistently using personalized email marketing and other tools It strengthens your ability to follow up with leads and past customers to get more deals and referrals Not long ago, only a fraction of real estate agents used a CRM. Now, the tottering old "technology stacks" of yore, built of a dozen apps that don't work together, are giving way to centralized solutions. By using CRM effectively, you benefit yourself and your clients. When it comes to deal flow acceleration, a single technique can bring your business to the next level. CRM-Based Audience Segmentation Improves Deal Flow through Targeted, Personalized Messaging Your email marketing list is one of your most valuable business assets. That's because your list is packed with people who have a definite, pre-existing relationship with you and are amenable to hearing what you have to say. You have the power to significantly influence subscribers, making customer conversions more likely at times when they benefit you most. You can also use the same resources to stay connected with past customers and acquire referrals. But what's the best way to differentiate your messages so they remain relevant and welcome? Audience segmentation means refining your email list by placing subscribers into sub-lists, called segments, that match up with your relationship and their interests. Using segmentation, you can make sure subscribers get only the most targeted and relevant information. That makes it more likely they'll take action. 5 Ways to Boost Your Monthly Deal Flow Using Audience Segmentation There are many situations where segmentation creates better experiences for your contacts. Your CRM can turn your single list into a seamless collection of highly focused sub-lists in a matter of just minutes. That means you will get better ROI from your email drip campaigns and can expect a fuller schedule overall. Let's look at some audience segments that can bolster your business: Past Customers - Audience segmentation is particularly important when current customers close their deals and become past customers. They will no longer need content on negotiating a buy or finding financing, for example. You can keep the conversation flowing with these subscribers by sending them information on homeownership, DIY repair, decorating, and more. The more you know about their interests, the better. Cold Leads - When leads have gone cold, it is a wise idea to activate a special sub-list for them. Use email in conjunction with text message marketing to reignite the conversation. If you can verify that someone is still looking for a home, then they return to your current leads list. Your cold leads list can leverage urgency and limited-time offers to spur action. If a lead remains cold for months, however, it is polite to pause messages and circle back later. "Love List" - Your "Love List" consists of your customers who have demonstrated they were not just satisfied with your work, but thrilled. For example, they might have given you 5-star reviews on multiple platforms without you even raising the subject. They deserve a special list category because you will want to pepper your messaging with personalized check-ins. It is okay to ask your Love List for referrals several times a year! Open House Attendees - Open house registrants who actually show up are clearly on their way to a purchase — the question is when they'll find the right home for them. Follow up with attendees you don't hear from right away, using a text, call, email, or even a social media message to see what they thought of the property. Open House No-Shows - Open house no-shows can stay on a list segment, ensuring they get future invitations to local events. But you should also touch base to see if you can find out what happened. Did other commitments come up, or was the house a dud? If you've done a virtual tour, be sure to send the link. Unlock the power of CRM and marketing automation with DeltaNET 6. RE Technology readers can try it free for 30 days. To view the original article, visit the Delta Media Group blog.
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Staying in Touch vs. Spamming Too Much
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How to Build Your Real Estate CRM Database and Why You Want to
As a real estate agent, there are a lot of things you "should" do that you hear over and over again. You should keep in touch with past clients. You should have a responsive website. You should up your database. But that isn't very helpful if no one is telling you how or why. So we're going to help you with that last one.
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Friday Freebie: Exceed Your 2021 Goals with this CRM and All-in-One Marketing Platform
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[Best of 2020] 8 Real Estate Closing Gifts That Return Your Investment
We're continuing an annual tradition of counting down our top 10 articles of the year. The following article was originally published in October and is #8 in our countdown. See #9 here. Closing real estate deals is fun, right? Of course it is! You should extend your excitement of a job well done with a token of appreciation for your clients. Here are some thoughtful gift ideas you can give to your clients:
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8 Real Estate Closing Gifts That Return Your Investment
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Stand Out from Competitor Real Estate Agents: A Few Key Tips (Part 2)
Welcome to part two of our series on how to stand out from your competitors in real estate! In today's post, we dive deeper and show you how to become dominant in a competitive real estate market. Part one of this series mentioned three key points: being active on social media, creating your own agent website, and staying connected to your clients and leads through e-newsletters. Part two will focus on how to elevate your real estate brand, enabling you to stand out from your competitors.
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Tips for Real Estate Agents: Engaging Your Sphere of Influence with Personal Touches
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Delta Media Makes a Case for a CRM that More Agents Will Use
"The best CRM is the one an agent will use," says Michael Minard, CEO and owner of Delta Media Group. Michael said this in an announcement last week about Delta giving individual agents and teams access to its platform for the first time. After spending the greater part of the last 25 years working directly with real estate agents, few words resonate more truth with me about the decades-long battle to get all real estate agents to use a CRM actively. That's what makes the Delta Media Group announcement exciting to those who have seen the DeltaNET 6 platform. Its most outstanding value is its built-in CRM. More importantly, it does the heavy-lifting that prevents many agents from ever using a CRM.
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How to Get Your Real Estate Business Working for You and Not the Other Way
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How to Use Real Estate CRM to Maximize Your Outcome
When you first started selling real estate, it's likely you didn't have systems set up or defined processes in place. In fact, you were probably -- and maybe still are -- using a spreadsheet to keep all your contacts organized and their information documented. But as your business starts to grow, you'll need to grow out of your spreadsheets too. It's time for a customer relationship management system. A customer relationship management system (CRM) can help empower and organize your work while defining and streamlining your processes, giving you more time to dedicate to your business. You might have preconceived negative connotations with a real estate CRM, thinking they can be too time-consuming or that the Excel sheet process you have works just as well. But through this blog, you'll learn how and why areal estate CRM can actually improve your efficiency, enable you to land clients better and faster, and allow you to spend more time working on your business instead of in it.
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How to Choose the Best CRM for Your Real Estate Business
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3 Tips to Show Your Clients Gratitude During this Time
During this unsettling time, there is no doubt that sales have been fluctuating. With that in mind, a best practice would be to ensure that you treat your prospects and past clients with a sense of value. Here are a few ways you can show your prospects and past clients your appreciation, but still respect social distancing rules:
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Build Your Real Estate CRM Database with 4 Easy Steps
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The Time Is Now to Supercharge Your Database
The perfect stay-at-home marketing activity Imagine what the future would look like if you could stop cold calling, door knocking or chasing after FSBOs indefinitely--or at least cut way down on those activities? Ditching the more distasteful aspects of your real estate lead generation routine may be possible if you vow, right now, to get serious about your CRM database. Warm calls are so much more pleasant and knocking on doors where people are happy to see you beats the alternative. Make building better relationships with people you already know the center of your current stay-at-home activities. How's your sphere of influence? Agents who have been in the business for more than a minute tell horror stories about friends and even family members who "forgot" that they were in real estate and listed their homes with another agent. In fact, NAR statistics say, "The typical real estate agent earned 13 percent of their business from repeat clients and 17 percent from referrals from past clients and customers." Look at those numbers – they're pathetic, aren't they? Especially when NAR surveys say that nearly 90 percent of real estate consumers say they would use their agent again in the future. Past clients know you and, hopefully, they like and trust you. Shouldn't agents be getting more than 17 percent of their business from referrals from them? We get it. Agents have a ton of irons in the fire during the typical work week and keeping in contact with their SOI typically ends up as a low priority. What would happen, though, if you moved it up on the list? Made those warm contacts (instead of contacting strangers) a priority? You'll end up top-of-mind with your sphere when someone mentions buying or selling a home. Step 1 to get your real estate business on the referral track Organize your database. Yeah, it doesn't sound like a whole lot of fun, but it's necessary to keep you on track. And there is no better time to do this than right now, while you're at home. If you already have an organizational method, you're one step ahead. If not, let's create a simple one. Start by grouping your contacts. There are many ways to group them, so choose labels that make sense to you. Some suggestions include: Hot leads (people you don't know yet) Cold leads (again, people you don't know) Sphere (or "family," "friends" "ladies I play tennis with" "past clients") Vendors Feel free to create subgroups, if it will help you to stay organized. Some of these may include: Immediate family members Extended family Closest friends Acquaintances Neighbors People you met through your kids Thanks to the folks at TopProTraining.com for some of those ideas. Check out their list for more. Kim Hughes at KimHughes.com suggests that the next step in setting up your database to help you succeed should be to go through all of the leads, checking the information you have on them and adding anything that comes to mind. At a minimum, Hughes says you should have the contact's full name and the name of immediate family members. Naturally, you won't have family member info for some contacts, such as leads. Then, take some time to pick up the phone and start calling people. Start with folks you know, like past clients, relatives, and friends. Let them know they're in your thoughts and you're checking in to see if you can help them with anything. While on the phone, tell them you're updating your database and want to ensure you have their correct contact information: Verify that their addresses, both snail and email, are current. Best phone number to contact them. Birthdate is an important one (folks LOVE getting birthday greetings). The birthdate might be a tough one to ask, but tell them you like to reach out to people on their birthdays. You don't need a year, so that may make the question "Hey, when is your birthday?" a bit easier to ask. Get ideas for these conversations at TheRealEstateTrainer.com. Listen carefully to their end of the conversation for any tidbits you can add to their spot in your database. Then schedule a follow-up call, or a reminder to send a card, depending on what they've told you. This is a project that, although it needs to get done sooner rather than later, can be done in chunks. Hughes brilliantly recommends starting the organization process with your past clients. But do schedule those time chunks and vow to stick by the schedule. Before you know it, you'll have an organized, clean database, making your real estate lead generation a much more enjoyable and rewarding process. Do you have current listings to promote? Create "virtual" open house postcards for your current listings using the Just Listed Series and promote them through social media, on your website, and through mailings. To view the original article, visit the ProspectsPLUS! blog.
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WATCH NOW: Top 5 Secrets from Top Producing Agents to Navigate These Times
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Why Now Is a Great Time to Clean Up Your CRM!
When I switched from my commercial business management career 20 years ago to work in the real estate support industry, I was amazed at the number of standard business practices many agents didn't use. I was coming from a world of mission statements, six-month, one-year and five-year forecasting, making a quarterly pro forma, plus doing all the different managements of contact, time and information. We didn't call it a "sales funnel" back then. I'm not sure how we referred to our customer/contact list, but if somebody wasn't buying, we sent one of our outside sales people to see them.
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3 Things Every Agent Needs in Their 2020 Marketing Arsenal
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Success Story: "Nightmare" Breakup Leads to Happy Ending
This week's Success Story has a plotline like a romantic comedy: it involves a breakup, the realization of a mistake, and a happy ending. Our hero in this week's story is Veronica Figueroa, leader of top Orlando real estate team The Figueroa Team. Find out how she met her ideal real estate match, what happened when she left that real estate platform to try something new, and how a reunion got her business back on track. Playing the Field Veronica partnered with real estate CRM and marketing platform BoomTown in 2012. After five years, she decided to leave BoomTown to try something new—and to make sure she was providing her team with the best technology possible. At the time, she was seeing new features, like text message marketing, crop up in other CRMs across the industry. But communication is important in any relationship, and rather than checking to see if these new features were in development at BoomTown (which they were), she moved her team to a new platform. In fact, BoomTown had recently released two game-changing new features. Success Assurance offers the perfect mix of tools and services to handle lead generation, expert lead qualification, and lead management, serving conversation-ready prospects to agents. Additionally, Marketing Central allows clients to generate more leads and listing opportunities through a self-serve advertising portal. "I didn't dive deep enough to say, 'When is it coming? How do we make this still a part of our future even though we don't have it now?' I was impatient. I fell victim to just chasing that shiny object," she says. The Grass Isn't Always Greener Unfortunately for Veronica's bottom line, those shiny objects didn't do her team any favors. Rather than the 500-600 transactions they typically completed in a year, The Figueroa Team plateaued at just 300-350 transactions after the technology change. "I didn't realize how much we damaged our business by making the switch. I mean, it meant removing everyone off our website—people that we have been nurturing for so many years. It meant disrupting my team. It meant losing the opportunity to stay connected with consumers—trying to shift them over to another platform," she says. Not only that, Veronica couldn't help but compare the new platform to her ex-platform—and the comparison didn't leave the new platform looking so good. "I was basically measuring them to the standard of BoomTown and that's when I knew instantly. This is a nightmare," she says. "We could have done so much more, and how many lives could we have impacted? How many more careers could we have helped if we would have stayed put?" Returning "Home" to the Right Partner "Partner" is the key word in Veronica's reunion with BoomTown. Rather than just being a useful technology tool, BoomTown acts as a partner that offers support services, success management, coaching, and more. "That's why we chose to go back to BoomTown. We knew we needed a system we trusted. We needed to feel protected and safe in that area of our business with our team, making sure that business was just flowing naturally, organically with the new changes that we were going to make," Veronica says. "I guess I felt like I had to be doing something new and fresh at all times, but I realized that can be a part of our business, but it can't be a part of disrupting our systems, because our systems are the foundation of our business. We came back to BoomTown because BoomTown was a solution for me to be able to run my business with ease, and for me BoomTown is home." Watch this product tour to learn how BoomTown can become your partner in success. Can't decide which BoomTown product is right for you? Compare packages.
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Real Estate Advertising Using Your CRM (Real Estate Marketing Ideas)
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How the Right Real Estate CRM Will Save You Time
Real estate agents are busy, and efficiency is a huge priority. Not managing your time wisely can greatly reduce your productivity and ultimately harm your business. An investment in time management is an investment in productivity. One of the best tools to help you with this is a real estate CRM, known in full as customer relationship management software. We know that this software can help save us money by organizing our contacts and marketing efforts. But did you ever think about how it can save you time? In a busy industry, the right CRM functions more like a productivity tool. Here are five ways a great real estate CRM will save you time — just make sure you select the right one!
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Friday Freebie: Let this CRM Coach You to Success in 2020
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What Is CRM?
The following is an excerpt from RE Technology's latest Success Guide: Unless you have been a salesperson in a prior career, CRM or Customer Relationship Management may be a new concept to you. The idea behind having CRM software as a sales professional is that it organizes your contacts, tasks, and calendar for all customer activities in a single place. This allows you to plan your work and work your plan so that no customer opportunity is ever missed.
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Real Estate Smartphone Tricks: Using Your Phone's Contacts as a CRM
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How to Convert Your CRM Database into Commissions
The following is an excerpt from RE Technology's latest Success Guide: The best strategy for growing your business today is to leverage your CRM. Everyone that you know should be a customer record in your CRM. Developing a database of customer contacts with complete information including telephone numbers, addresses, and email addresses is fundamental for your success, as a well-groomed database in your CRM becomes a significant asset. The more you communicate effectively with your customers, the greater the likelihood of converting those contacts into relationships that lead to future transactions.
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The 6 Trends We're Seeing in Top Real Estate CRMs
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Why Lead Follow-up Is So Important
Real estate agents today are so engrossed in obtaining the "next new lead" they pay enormous amounts of money for cold leads directed to them. It doesn't even matter if those same leads are being directed at 10 other agents, they still pay. Because just maybe this time... I have seen multiple studies that boil it down to, on average, a closed real estate lead costs about $3-12K. This means that while the cost of any single lead could be closer to $30- $120, an agent might need to go through (spend time on) about 100 leads to get the one to close. And truthfully, we should be less concerned about the $3-12K and more concerned about the 99 people you spent time on that did not use you. THAT is the real loss in buying leads. The time wasted.
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What Makes a Great CRM?
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5 Reasons You Need a Real Estate CRM
Do you want to be more productive, better organized and have more control over your business? Use a real estate CRM. A Customer Relationship Management program is intended to help professionals stay on top of their businesses and succeed. Here's how an investment in a real estate CRM will take your business to the next level.
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Success Story: San Diego Team Triples Their Transactions with Software Switch
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7 Reasons Why Real Estate Video Marketing Is a Wise Choice for You
Marketing has evolved at breakneck speed and Realtors that don't keep up fall behind fast. Take video, for example. What wasn't even a "thing" in digital marketing a few short years ago is now the THING that catches the attention of your prospective clients. Moreover, video isn't just for your website. Video has come to CRM, even to the most common communication channels like email and text. What makes using video with your CRM so powerful for real estate, you might ask? Just count these ways – seven to be exact:
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Success Story: Exploring How Agents Choose Real Estate Technology
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5 Signs You're Doing Real Estate Contact Management the Right Way
Managing your real estate contacts is the foundation of a successful career as a real estate professional. When you properly care for your database, you save time and energy that you can dedicate to other important aspects of your career and even your personal life. Ultimately, using a real estate CRM will help you to stay more organized and get more out of your workday. If you're looking for a real estate CRM, these five items can help you choose one that's right for you. Already using a CRM? How many of these five items are you already doing?
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How Kyle Whissel became the #1 Team in San Diego
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6 Quick Tips For Real Estate Contact Management
Managing your real estate contacts is the foundation to a successful career as an agent. When you properly care for your database, you save time and energy that you can dedicate to other important aspects of your career and even your personal life. Ultimately, using a real estate CRM will help you to stay more organized and get more out of your workday. If you're just getting started and are looking for some advice, here are six quick tips for real estate contact management, and how a CRM can help you:
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Friday Freebie: Holiday Weekend Freedom Edition
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How Healthy Is Your Database?
Do you have a healthy database? The last time you went to your physician's office for a check-up, was everything great? I sure hope so. If you passed with flying colors, it probably made you feel good. You may need to make some adjustments to your diet or exercise routine but, hopefully--overall--you were in good health. Of course, the reason we have physical check-ups is not to make us feel good. We go to find out if something's wrong so we can take action to fix it.
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Got a CRM? If So, You Need a F.O.R.D.
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Spring Cleaning for Your Real Estate CRM
Spring is in the air and you know what that means--lots of fresh new leads looking to buy and sell homes! The arrival of spring reminds us of new beginnings, fresh opportunities and, yes, spring cleaning. Now I don't know if you use this season to wash your windows or reorganize your closet, but I do know that it's a good time for agents to re-evaluate your real estate contact management.
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7 Do's and Dont's of Handling Client Relationships
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Contact Management Is a Contact Sport
Being a speaker, trainer and presenter supporting the real estate community for the past 19 years, I must say my attendees have taught me so much! During breaks and after my sessions, agents are quick to share their experiences with me. Many years ago, I was preparing to give my customer relationship management presentation when a 50-year real estate veteran approached me and asked if I was the presenter.
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Leveraging Insights to Drive Higher Lead Conversions
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Top Tips for Dominating Your Local Market this Spring
Are you ready to make the most of the spring buying season? Here are the tools you need to maximize your time and productivity. The stage has been set for a competitive spring season in most markets. In the whirlwind of these busy times, it might start to feel like you're stuck putting out fires left and right and tending to the squeakiest wheels without focusing on a strategy or engaging a holistic approach to managing your business. Don't let the overwhelm get you. And don't get bogged down in admin tasks and marketing campaigns that could be put on auto-pilot. Here are the best ways to stay organized, keep on top your prospects, and leverage the right tools to do the heavy lifting.
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5 Habits that Make You a Less Productive Agent
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Why the Top Agents Leverage Success Metrics in a Shifting Market
3 key metrics you should be tracking There's been a lot of buzz lately about the shifting market, and you've likely been hearing steps and strategies to help you be prepared for what may come in your local market. Whether it just shifts slightly to a more balanced, normalized market, or there's a noticeable lull in home sales, the name of the game is being fully prepared at any time with a solid business model, that's evergreen and "shockproof," so that your profitability doesn't suffer. One tactic that will help solidify your profitability (no matter the market), is clearly tracking and measuring success metrics.
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The Secret to Success with Prospects Pro
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Everything You Need to Know About Setting Up and Using a CRM
When you first started entertaining the idea of a career in real estate, you may not have known about the horde of acronyms that would rule your life: MLS, IDX, NAR, etc. Each one is extremely important for running an effective real estate business. Another acronym that's often underrated but is actually one of the most important is CRM. CRM stands for Customer Relationship Management, and it's the system that helps you turn a lead into a client and a client into a referral source.
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Getting New Business from Old Clients
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5 Types of Real Estate Clients You Need to Understand
In the "Age of the Customer," any business looking to survive puts their client at the center of their operation. Today, it's the consumer, not businesses, who are driving business decisions, which means that it's vital for real estate agents to understand their clients on a deeper level in order to make the sale. Don't assume you know what your real estate clients want
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8 Steps to Reconnecting with Real Estate Clients
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Anatomy of a Successful Real Estate Agent
Oversaturated markets give consumers an abundance of options, but make it difficult for brands and vendors to stand out. With so many choices in a competitive playing field, real estate agents really have to differentiate themselves to stand out from the crowd – and become a powerful player in the market for the long-term. Here are the seven essential ingredients that lead to success in real estate.
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Don't Let Your Contacts Fall Through the Cracks
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Five Simple Ways to Become the Go-To Agent in Your Community
You know the community you serve like the back of your hand. You know the best schools, restaurants, community programs and more. But does your community know you as the go-to real estate agent? With the level of knowledge you have, they certainly should. Luckily, we've outlined five simple ways for you to make that happen.
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4 Surefire Ways Your CRM Will Help You Grow Your Business
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The 4 Most Efficient Ways to Organize Client Contacts
Your database of contacts is only as good as the data you put in. It is absolutely vital for real estate agents to keep their database up-to-date, complete, and well segmented in order to get full value out of it. Segmentation enables you to group your contacts based on requirements that fit your sales process. Reach the right people, with the right message, at the right time. By associating your contacts with certain groups, you can effectively filter your database, include groups in marketing campaigns, or reach out to certain segments. Below are four efficient ways to organize clients contacts in order to keep your database neat and tidy and reap all of its benefits.
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The Most Important Part of Your CRM
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6 Tips for Nurturing Leads in Real Estate
Think of all your real estate leads as a garden (stay with us here!): Some grow fast, some take a little bit more time, but you want them all to thrive. That's why lead nurturing is so important. It's the action you take after someone connects with you via referral or advertising so you're top of mind with prospective clients. Some leads take just days to nurture, while others might take months to develop into a client. But it's worth it to try to nurture them all, even if that looks different depending on how you reached them and how ready they are to move forward. Our tips for getting started:
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How to Choose the Best Real Estate CRM
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Six Ways to Engage with Your Sphere This Fall
Ah, fall. The time of the year when it suddenly becomes socially acceptable (if not encouraged) to drink pumpkin spiced lattes with virtually every meal as we all helplessly watch our timelines get taken over by "throwing leaves" pics. Aside from the pumpkin overload and sweater weather, fall also brings tons of new opportunities to engage with your sphere. Here are a few fall inspired ideas to kickstart your sphere marketing this season!
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Keeping Your Sphere of Influence Warm When the Real Estate Market Cools
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5 Fun Ways to Engage with Your Sphere
Saying that client relationships are tricky is an understatement, everyone knows that. For you as an agent, relationships are more than just tricky – they are the foundation of your career, so keeping them strong and healthy is essential to your success. If you've ever been one to miss an important event, an anniversary for example, it's likely safe to say that you've found out (the hard way) the important role that timing plays in building said client relationships. Mediocre efforts to maintain them and get the timing right will cause you to fall short, meaning that you must go above and beyond to stay top-of-mind and wow your clients, constantly. Don't stress – we've got you covered. Read on for ways to utilize personalized client insights in order to maintain long term engagement with your sphere, and keep the business rolling in.
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Filling Your Pipeline: Origination vs. Order Taking
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Friday Freebie: Slip into Fall with a 60-day Trial of this CRM
Seasons change--and so do the software solutions that real estate professionals rely on to run their business. This summer, a longtime favorite CRM completely overhauled their look and platform to better serve agents... and to help agents better serve their clients. In this week's Friday Freebie, we'll take a closer look at the newly redesigned IXACT Contact, and show you how you can check it out for yourself with an extended free trial! Free 2-month trial of IXACT Contact's reimagined CRM In June, IXACT Contact unveiled their redesigned CRM, an update that the company calls "the largest single upgrade to the system since it was first launched nine years ago." In July, IXACT Contact teamed up with us to offer RE Technology readers an in-depth look at the new system during a live webinar. So what's new in the revamped IXACT Contact? You can check out the webinar at the link above to find out, but here's a quick rundown: A Dashboard that offers a visual snapshot of your entire business, including lead status, goal progress, and more. A Goal Setting and Tracking module that lets you set financial and activity goals, and track your progress toward those goals. A Business Pipeline where you can monitor the status of all your leads, clients, and referral sources, and manage your business pipeline from a "big picture" perspective. In addition to those new features, here's a list of existing highlights that you'll be able to check out during your free trial: Integrated agent website with lead capture capabilities A Prospecting Activities panel where you can identify hot leads at a glance Extensive email marketing capabilities with a library of pre-written templates Fully automated and customizable e-Newsletters sent to your sphere each month Email campaign analytics to track the success of your marketing efforts Built-in Activity Plans for Marketing, Listing a Home, and Closing a Transaction An Original Source Reporting feature where you can see where your leads come from, which lead type closes most often, and understand your ROI for each lead source Detailed contact profiles, and an activities/history log Wireless smartphone sync, plus ability to sync with Mac Address Book and Microsoft Outlook Mail merge letters and labels Support for real estate teams of all sizes This trial offer is exclusively for RE Technology readers, and is twice the length of their standard trial. Still need a little extra incentive to try this "next generation" CRM for yourself? IXACT Contact is also including a month-long trial of social media management tool Social Stream, lifetime price protection, and their Concierge Setup Service at no cost. Ready to try it for yourself? Claim your FREE, 60-day trial of IXACT Contact here, or use code "RETECH" on any sign-up form on their website.    
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10 Questions to Ask About Real Estate CRMs
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What's Your Client Management IQ? 3 Questions to Ask
Realtors Who Get the "M" in CRM Get More Closings There's no "secret sauce" to customer relationship management (CRM), but there is a process that isn't followed by many real estate professionals, and it's costing them money. Often it's the simple things, those "I should have thought of that" moments, that take a Realtor from mediocre to top producer status. Ask yourself the three questions below to uncover where hidden weaknesses in your CRM process may lie.
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4 Strategies for Building Your Real Estate Database
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3 Ways Artificial Intelligence Can Help You Close a Deal
There's a big misconception around what artificial intelligence (AI) really is and how it can impact your real estate business. To make matters more confusing, many of today's real estate software platforms have latched onto the term but fail to explain what's really behind the curtain. So what is AI, exactly? Simply put, AI automatically gathers information and behavioral patterns to generate meaningful data that you couldn't process on your own. It offers insights that can be used to generate a more personal and timely response to leads. It can improve the way you manage your business, priorities, and day-to-day interactions. It's designed to work behind the scenes. It's not something you need to learn or take hours to implement. So how can AI truly impact your bottom line? We've seen three practical ways that AI gives agents an advantage.
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5 Agent Best Practices to Dust Off Your Sphere this Spring
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The Useful versus the Detailed Real Estate CRM
CRM stands for Customer Relationship Management, so real estate CRM certainly applies, as real estate is a relationship business. So, the more detailed your real estate CRM records the better, right? Wrong is the answer in most cases. Taking a step back to look at the big picture, what is involved in a real estate customer relationship? It's keeping in touch, answering questions, helping with property buying and selling, and managing transactions. Notice that all of those activities involve actual interaction with the customer. Problem: Real Estate CRM Glut
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Artificial Intelligence: What It Is, What It Isn't, and How It Benefits Your Business
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Friday Freebie: 100 Ways to Segment and Market to Your Sphere
Personal data. As consumers, we leave it everywhere--and marketers love it because it provides insight into who we are and the kind of products we're likely to buy. But did you know personal data can also benefit real estate professionals? With a little insight into your clients, you're better able to pinpoint when they're ready to list their home--and potentially even know how to better connect with them. Now, we say 'potentially,' because just knowing that your client is a dog lover doesn't necessarily mean you'll know how to use that information to connect with them. That's why in this week's Friday Freebie, we're highlighting a guide full of 100 ideas you can use to connect with your sphere--whether they're dog lovers, sports fans, foodies, gardeners, or something else entirely. Read on to learn more!
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