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How Agent Accountability Actually Drives Profits
Amongst real estate teams, accountability is often seen as an afterthought. But, if you really want to level up your business, accountability should be explicitly woven into your process and business plan. Accountability is defined as "the acceptance of responsibility for one's own actions — implying a willingness to be transparent, allowing others to observe and evaluate one's performance." Accountability is a valuable tool that team leaders and brokers can implement within their team cultures, but it's also an essential quality that single agents should adopt to build trust and boost productivity. Rather than being viewed as a punishment — where you need to get these tasks done, "or else" — accountability should be a motivator. Why Accountability Matters Strong accountability practices drive agents to perform better, helping them maximize their efforts and ensure that everything they intend to do actually gets done. When entire teams work together with accountability as a major focus, it's easier to collaborate effectively. The group can capitalize on everyone's best efforts, leveraging their collective power to increase production, transaction results, and client satisfaction. When individual agents dedicate themselves to becoming more accountable, single agents can improve their work-life balance by organizing their task lists and prioritizing how time is spent during the workday. Whether you're a team leader looking to make accountability a cornerstone of your team operations, or you're an individual agent that wants to achieve more, here are some tips for incorporating accountability into your real estate culture. Start Setting Specific, Actionable, and Trackable Goals Breaking down bigger goals into specific, smaller tasks that can be measured and tracked is an accountability best practice. If you map out each step that needs to be taken to generate the results you want, you'll be able to take baby steps towards the larger goal. This way, you can make sure that you and your team are on track. Goal Setting in 3 Simple Steps 1. Set an Overall Team Goal As a team, what volume do you want to achieve? How many units do you want to transact? Have a deadline in mind to help you determine how much time you have to meet this goal. 2. Set Individual Goals for Each Agent Next, break up your larger team goal into smaller, agent-focused tasks. If you're a single agent, your team goal will be your individual production goal. For teams, assign each agent an individual goal to help guide their efforts and ensure that the entire team is on the same page. Go to each team member and outline the goals being set for them. Giving them a minimum acceptable, midrange goal, and maximum attainable can help clarify expectations. For example, if you're looking for three units from each agent, the minimum acceptable may be two units, the midrange goal may be three units, and the maximum attainable may be five units. Make sure that you're talking to each agent about the goals being set for them. Ask them if they feel like it's realistic, or if they think it's a low-ball and that they can achieve more. This also gives team leaders the chance to talk to their agents and see if anyone needs help, more training, or tips to improve their work. 3. Step Back and Take a Bird's Eye View Once you've assigned roles to each of your team members based on your overarching team goal, take a moment to assess whether or not all of the bases are being covered. If you don't have the bandwidth to meet your goals, you may need to hire additional team members. Pro Tip: For teams, goal setting should be a collaborative process. In order to achieve team-wide goals, be realistic when establishing expectations for each agent. Make sure that the goals being set for each individual match their qualifications, skills, and talents. Streamline Accountability When you work with BoomTown, you'll gain access to your very own accountability dashboard. Documenting everything in your BoomTown database can help teams track progress, keep a current log of all activities, and make your CRM more effective with strong data inputs. Team leaders will be able to oversee and monitor agent activities, helping leaders determine which team members are thriving and which agents might need some help. Some brokers and team leaders even require that agents submit proof of tasks being completed before they are given new leads. To view the original article, visit the BoomTown blog.
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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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Big Data Solves the Lead Quality and CRM Problems in Real Estate
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Keller Williams Partners with RealNex on Exclusive Commercial Real Estate CRM
Keller Williams has entered into a strategic partnership with RealNex, an enterprise technology solutions provider for commercial real estate. Through the partnership, KW Commercial brokers and agents gain access to RealNex Navigator, a CRM-plus solution adapted to serve KW Commercial real estate brokers and agents globally. "We're excited to announce our partnership with RealNex because of the strong value it brings to our commercial real estate agents," said Cynthia Lee, executive leader of strategy and growth, KW Commercial, the commercial real estate division of KW. "The KW Commercial RealNex platform brings together a complete suite of marketing and business tools for our agents to thrive, while also maintaining our culture and brand promises," said Lee. "Our KW Commercial agents now have another true competitive advantage that allows them to best focus on the activities that benefit their bottom lines and growth." The KW Commercial RealNex platform streamlines all aspects of the commercial sales process by allowing brokers and agents to build and nurture relationships, manage leads, launch customizable marketing campaigns and reports, create custom listings websites, match buyers with properties and tenants with space, protect critical documents, and more. KW Commercial's RealNex functions on desktop or mobile, allowing agents to update the CRM on the go and in real time. From listing to close and beyond, the platform ensures each KW Commercial agent can increase both efficiency and ease at every step. "We are pleased that KW Commercial recognizes the tremendous capabilities and value proposition of RealNex Navigator™," said Mark Kingston, executive chairman, RealNex. "KW and RealNex share a common mission of providing technology and tools that enable commercial real estate professionals to achieve the highest levels of success while delivering world-class service to their clients." "In the coming months, we will further expand the value of our offering to the KW Commercial team with the introduction of our International Version, Auction Platform, Virtual Reality Platform and RealNex Data Solutions," said Kingston. "Bringing superior advantage to KW Commercial and RealNex clients worldwide is what we are all about. We succeed when our clients succeed." More information on the benefits and features of KW Commercial's RealNex platform are available upon request.
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Vylla Home: The Power of Technology Partnership
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Technology: The Cutting-Edge
It was about 35 years ago when Jeff Pust was a young man, newly married and starting a career in real estate, working on mortgages and appraisals. He transitioned into sales, and 15 years ago, along with his wife, took over Van Dorm Realty from his in-laws. Today, the Olympia, Washington-based firm has over 120 agents and has remained an independent brokerage. "We're a large independent, which is rather unique," says broker/owner Pust. "The way we provide tools for our brokers is also unique for an independent, as we invest a great deal in technology. We are recruited heavily by franchises, but we have all the tools they have." That's where Constellation1 comes into play. Van Dorm Realty utilizes the software tech company for its CRM, websites, marketing services and back-office management. "We became a Constellation client when they acquired a tech firm we worked with a number of years ago. Since then, they have morphed into Constellation1. We have stayed with them the whole time and found success working with them," Pust says. "They have grown from providing our website to CRM and all types of other contact management systems they have, and now we're working in their accounting module." In 2021, the firm became a Constellation1 Commissions customer, which helped integrate all of Van Dorm Realty's back office tools and have them work together. The firm even used it with a different provider's transaction management platform, and it worked perfectly. It's just another way Constellation1 partners with its customers to provide what's best for the brokerage. "The reason we went with Constellation1 Commissions is to simplify our bookkeeping," Pust says. "We have this transaction management system, and we needed a way to link that information to our accounting system, making us more efficient and providing more tools to our brokers in a way they can track their income, and perhaps set goals for themselves." Still in its infancy launch stage, Pust notes that so far, it's doing exactly what he hoped, and he foresees it saving the firm a tremendous amount of time. The firm has about 25 brokers who use Paradym by Constellation1, a digital marketing tool, to help them with their social media platforms. The tool assists those who aren't as adept at the process of managing a social presence, which has been a big plus for those taking advantage of it. Another reason Van Dorm Realty has stayed with Constellation1 for so long is because of its commitment to providing the best service possible. "We've always been able to call them and talk about what we're seeing with our competition and ask if they can make it happen for us. And they've always been able to find a way to accommodate our requests," Pust says. "We have a lot of tech firms up here in the Northwest, especially in real estate, and Constellation1 has been able to keep up with the cutting-edge changes, keeping us cutting-edge as well." With more than three decades in the business, Pust has seen real estate transition from brokers coming into the office to working from anywhere, a change made more impactful by the pandemic. For that reason, innovative technology has been a big part of the firm's strategy. "Our mission along the way has been, 'How do we provide systems where brokers can get that same level of service and attention and not have to come into the office but stay just as efficient?' Constellation1 has been a great partner in helping that transition be a success. They help me be competitive in the tech part of the business," says Pust. To view the original article, visit the Constellation1 blog.
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3 Ways to Dust Off Your Sphere of Influence Now
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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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What Is a Healthy Adoption Rate for Real Estate Technology?
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How a NextHome Broker Built a $177 Million Business
They say the best CRM is the one you actually use. And for Thomas Shumpert, Broker/Owner of NextHome Specialists, this fact was paramount as he grew his business. As he identified the need for a CRM, he knew he had to find something that not only his agents would use (and love), but also that he could utilize as a central hub to run his entire business. Strategically, he identified some non-negotiables from day one of his search for the right technology partner: Robust platform with a high level of capabilities and features Customer service and support Scalability Is Your CRM Ahead of the Curve? With over 12 years of innovation, BoomTown paves the way for agent-driven real estate technology. And with other tech companies and franchises jumping into the space, there's a lot to choose from. Many agents and brokers, like Thomas, who are part of a franchise, leverage their internal technology in addition to BoomTown. Speaking volumes to how pivotal BoomTown is to their success. "NextHome created a CRM from the ground up, which was a major undertaking -- and they did a phenomenal job," says Thomas. "But when you're building anything, you aspire to be other things, and that other thing is BoomTown, which I consider the best CRM on the market. A lot of the tools that NextHome offers us as brokers and agents are compatible with BoomTown!" Compatibility is key for any successful tech stack, which is why Thomas leverages BoomTown's expansive network of integration partners. "We utilize BombBomb, Spacio. All those things are interactive with BoomTown. And so the technology has grown with us and helped us provide more tools for our agents and then better follow-up with our clients." A question Thomas gets a lot from fellow brokers and agents is, "Is BoomTown worth the cost?" For any small business, it's always a matter of investment and ROI. Which is why it's so important to leverage technology that you will actually use. "The investment is nothing at this point once I realized what BoomTown could do and how it could help me manage a team, and really scale my business," says Thomas. "If you're not going to utilize tools and you're not going to really use them to their capacity, then you definitely want to go with a free CRM. But if you want to take it to the next level and you know how to utilize CRMs, you know drip campaigns, you know the importance of staying in front of your folks, then you definitely want something that's more robust and can handle that growth and help you get there. And BoomTown has all the systems in place, so it makes it really, really easy." Unparalleled Support Real estate is a dynamic, constantly evolving industry. With market shifts left and right, new technology, and changing consumer demands, it's never been more critical to have a technology partner that will empower your business at every turn. Thomas is a forward-thinking entrepreneur. He wants to build a "shockproof" business with a reliable pipeline and sustainable growth. It was important for him to work with a true technology partner, not just a platform. "A non-negotiable is customer service. We pay you guys, definitely, what you're worth, but your customer service is, hands down, probably one of the biggest reasons we've stayed and grown and bought more platforms because we never doubt that we're going to be answered quickly with all the technological support we need. And that kind of customer service is what we try to offer, and it's nice to work with someone like BoomTown who offers it as well." Working with BoomTown, Thomas has a roadmap for success. He has access to nine specialized teams of experts as well as internal communities of peers to strategize and mastermind how to get ahead. Don't Just Grow, Scale Rapid growth comes with its own set of challenges. So creating steady, sustainable growth is what sets apart the long-term winners in real estate. Thomas has leveraged BoomTown to help him scale, starting on a smaller platform that suited his needs and then growing to more robust packages over time. So you only pay for what you need, not what you don't. Thomas runs an expansion team, with five offices in South Carolina, one office in Florida, and 66 agents. That's a lot to manage! With BoomTown, his agents are able to customize their ad spend (helpful for unique markets!) and Thomas has a birds-eye view of how everyone is performing through accountability dashboards within the platform. "I was able to scale an office that's eight hours away from me by giving them a BoomTown platform that I can manage and watch from here [in South Carolina]. We also spend a lot of money with Zillow, and I think the success for us in Zillow has been using BoomTown to work those Zillow leads. We funnel all of our lead sources in there; all of our past clients, really capturing the clients that we have and working in that sphere of influence, and the lead gen we pay for. We would not have been so successful if we hadn't put it through the BoomTown system, in my opinion." Growth doesn't come overnight, thankfully! Slow and steady growth with a trusted success partner is often what separates the good from the great. And Thomas Shumpert, NextHome Specialists is certainly proving to be one of the greats! To view the original article, visit the BoomTown blog.
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How One Chattanooga Brokerage Tripled Their Business in 2 Years
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Ryan Wilson: Closing Nearly $100M in Sales
Next-Level Success In 2021, good real estate tools are a dime a dozen. But for growth-driven agents and brokers like Ryan Wilson, it comes down to separating the good from the great. Broker/Owner of Edge Realty in Rhode Island, Ryan Wilson had settled into a groove with his thriving boutique real estate agency, serving Rhode Island's competitive luxury waterfront market and finding success doing it. But as the family-owned operation grew from a team of four to what would eventually be 30 agents, Ryan had the foresight to know that he needed his technology to level-up as well. Early on, after dabbling with some solutions with basic-level functionality (Contactually and Top Producer), Ryan moved to Sierra Interactive to experience a wider variety of features and capabilities. Then, as his team began their expansion, he landed on BoomTown as the right tool to drive that growth, while empowering and unifying his entire team within one central system. Tools to Empower Agents BoomTown was built to empower real estate businesses from the ground up, with tools to help entry-level single agents thrive as well as robust enterprise solutions for broker-owners and multi-city expansion teams. For Ryan, it was important to have a solution that helps his agents close more deals while giving him the transparency, data, and metrics necessary to manage and support a team. With BoomTown's Accountability Dashboard, Ryan can see if his agents are following up with their leads, plugging them into SmartDrip automated marketing campaigns, and reaching out when new "hot" leads register on their site or show interest in a property. (All of the activities that help convert online leads into closed deals!) To take it even further, with the BoomTown Vitals Dashboard, Ryan can see how his business's performance on the BoomTown system compares to other BoomTown users… because a little friendly competition never hurt anyone, right? "We needed something with a little bit more capability as far as the tracking and recording and reporting on what our other agents were doing within our framework. We reached out to a few brokerages throughout the country that were using BoomTown at the time and it just seemed like a much better fit for us to expand out." Empowering Agents to be Proactive and Productive Actionable Insights: Lead activity is tracked within the real estate CRM system to give agents predictive insights on top opportunities most likely to engage in conversation. Hot Sheet with MLS Updates: Agents can keep tabs on hot listings and get every update right in the CRM. Smart Prospecting Tools: Match your best listings with the most fitting and interested homebuyers with Best-Fit Leads. The Opportunity "NOW" Wall shows you leads to focus on and when to reach out to contacts. Mobile App and Consumer App: Never miss a beat and keep up with new leads and conversations on the go. Plus, the consumer app will keep your leads coming back. Success Assurance: A Lead Concierge Service handles lead engagement for you, following up and qualifying leads 24/7 and passing them off to the agents when they're conversation-ready. Expert Onboarding and Training We often say, "A tool is only as good as the hands that wield it." Meaning, we can provide the most robust, complex, powerful technology ever, and it simply doesn't matter if it's not easy (and enjoyable) to use. That's why BoomTown has 100+ team members dedicated solely to client success, onboarding, training, and support. For a broker with 30 agents to manage, being able to trust BoomTown with the training and technical support was a gamechanger for Ryan. "The fundamental training classes are super useful especially when we're onboard and new agents or have introduced new agents into the Boomtown and everything because that's something that takes a huge workload off of us from the very beginning. From a brokerage standpoint—from a management standpoint and maintaining the ease of being able to communicate with the support team is extremely advantageous." A Data-Driven Process The biggest differentiator that Ryan experienced between BoomTown and the other solutions he tested was the data-driven lead insights. Tools that are necessary for next-level growth. "I remember the first time of going into BoomTown just feeling like, 'Woah.' The amount of information that they're able to capture for any single prospect, the amount of tracking that they're able to then relay over to you. It's amazing. Compared to what we had before, so." When it comes to converting leads from your database, it's all about being in the right place at the right time. And if you don't have a fortune-teller on your staff, you're not going to be able to do that without the support of technology. Seeing when a lead registers on your website is one thing, but what if you could see more granular details and patterns like: What neighborhoods they're searching in Did they calculate a loan? Did they favorite the property? Did they send the property to someone else? "That is one of the biggest features I find helpful, is when you get somebody that pops up in your NOW wall and it says they looked at this property from three different locations. What that tells me is that they liked that property enough to text that property over to their husband or wife, or email it to somebody else, or they calculated the loan on it. So 'hyper interest' in the properties was the biggest feature difference that I found to be very useful." Ryan Wilson runs his real estate business with his eye on the long-term prize: healthy, sustainable growth. Which is why when it came down to deciding on a long-term technology partner, he didn't want to settle for just good but instead invest in the best. And after coming in at just under $100 million in closed sales in 2020, we'd say the ROI is paying off. To view the original article, visit the BoomTown blog.
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Getting to the Top with Smart Leadership and Powerful Tech
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Getting Time Back, with Tech
Caitlyn Mulligan, Team Leader of RE/MAX Revolution, values one thing above all else: time. She knows that all too often in real estate, agents get swept up into the chaos and end up spinning their wheels without making much progress. It's why there's such a high turnover rate for new agents. And after overcoming a major health event in her personal life, she gained even more clarity and determination to build a business that would allow her to live the life she wants (and deserves). But she is determined to accomplish two things: Be financially successful. Have time to enjoy her life. And she's balancing it all with BoomTown. Dollar Productivity You hear a lot about productivity, but what does it mean to be "dollar productive"? It means focusing on activities that are the best for your bottom line. By focusing on the dollar productive activities, you can avoid spending time on things that don't bring much value to you or your business and instead invest your time and effort where it is needed most. "My routine has totally changed. I actually have MORE time to myself because I'm not doing the tedious tasks." Caitlyn didn't get into real estate to send email alerts or hand-build marketing campaigns from scratch. She got into real estate because she wanted to help people find their dream home.So, she sought out the technology that would allow her to focus on just that. Operation Delegate and Automate With BoomTown, Caitlyn was able to automate: eAlerts, sending properties to leads based on their search criteria Long-term lead nurture through Smart Drip Campaigns Pipeline management Lead qualification and concierge services with Success Assurance Powerful Database of Leads + Easy-to-Use CRM In real estate, agents and brokers often plateau a few years in. At that point, what separates the average agents from the top producers is building a framework for your business that allows you to passively generate, qualify, and nurture leads. As your database grows, the pool of leads that have been nurtured over time grows as well. The consistent pipeline becomes the gift that keeps on giving. For Caitlyn, having a database of organized leads is something she can't live without. "I'm generating new business and I can easily reach everyone in my database. It's all on my phone – the instant someone registers." Predictive lead insights are what make conversions skyrocket and keep agents productive. Don't know the next step? Don't worry, BoomTown does. The system will tell you exactly where to focus, what leads are hot right now, and exactly when to reach out. Or, better yet, BoomTown's lead concierge service will reach out for you, 24/7, in as little as 90 seconds. This assures that your leads are being engaged as soon as possible while allowing you to focus on other, more pressing tasks. (Remember when we mentioned dollar productivity?) Visibility into lead activity is what really changed the game for Caitlyn. "I love how I can see where my clients are looking and where they continue to look. I can see how many times they're looking at a property, which helps me gauge their interest or home styles." Beyond the lead generation and automation tools, Caitlyn appreciates the ease-of-use with BoomTown. After trying another, she experienced first-hand the stark contrast between the 12+ years of innovation behind BoomTown and other solutions that simply don't compete. "The other system? I hated it. I won't put my clients into it. The user face isn't as easy and I can't see where my leads are looking! I love my BoomTown features." Weighing the Value At the end of the day, it's all about getting value out of your system. Caitlyn wants to accomplish two things in real estate: be financially successful and have time to enjoy her life. Looking for a new real estate technology partner? Follow Caitlyn's lead and don't settle for less than the best. Consumer-facing websites designed to attract and convert leads Full-circle pipeline management Expert lead generation Lead qualification and concierge services Predictive CRM Success management and legendary support services An ecosystem of integration partners "If you're on the fence about BoomTown… do it. Don't let the cost scare you. It will 100% pay off if you use it!" Discover what's possible with BoomTown! Request a demo. To view the original article, visit the BoomTown blog.
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Lone Wolf Acquires LionDesk and HomeSpotter
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DocuSign's Newest Sample App, MyRealEstate, Now Available
DocuSign has shared their newest sample app, MyRealEstate, which models customer relationship management for real estate brokers and agents. This app offers these functions: 1. Create a lead. A lead contains your customer contact information and can fill the role of buyer or seller. To create a lead, you must provide a name, email, and phone number. 2. Create transactions. Transactions must be attached to a lead. They contain information about the property to be bought or sold, and contact information for the agents, buyers, and sellers involved in the transaction. To create a transaction, you must provide the name of the property, the role (buyer/seller) of the associated lead, and the address. The app constructs the transaction by creating a room using the DocuSign Rooms API. 3. View and update transactions. After creating one or more transactions, you can view either the last transaction created for a lead by clicking view transaction, or all transactions you have created in your office on the transactions page. From the transaction view, you can edit the transaction details such as price, square footage, contact details, and more. These are updated in the DocuSign room using the Rooms API. MyRealEstate is built using a Node Express server on the back end and React on the front end. It is hosted on Linux servers that run the Node web server. Make sure to check out the MyRealEstate sample app or try out the source code for yourself on GitHub to start exploring how you can integrate the DocuSign Rooms API in a real estate context. To view the original article, visit the DocuSign blog.
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Tying It All Together: Constellation1's Partnership with Flavin Realty
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New Lead Routing Strategies Point to Increased Conversion Rates
Lead routing has always been difficult to manage for real estate brokers. They have tried and failed at many strategies, including call centers. Beckoned by the industry's call for innovation, today artificial intelligence and machine learning is introducing external data coupling and improving lead conversion rates. On firm listings, almost every broker sends leads on company listings to the listing agent unless that agent opts-out. The rest of leads on other firm listings are distributed using automated lead routing rules.
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Inspired by Sherry Chris: Being More Inviting and CRM of the Future
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The 6 Key Features Your Brokerage CRM Needs
As the saying goes in real estate, the three most important things are location, location, location. But for brokers and agents, it's actually leads, leads, leads. Brokerages everywhere are dealing with tighter margins, so agents can't miss a single opportunity: more leads equal more listings. There's nothing more important for your brokerage than a robust lead funnel and the ability to track, assign, and follow-up on every single lead. Investing in new technology, like brokerage CRM tools, helps agents action every lead fast to win more business. The faster they follow up, the more likely the lead will convert. According to Gartner, a lead is ten times more likely to convert if they are responded to in less than five minutes.
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Success Story: Brokerage Leader Forgoes Franchise Tech in Favor of "Most Effective Tool I've Ever Used"
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The 'Four Pillars' of Brokerage Technology Tools
It's no secret that real estate brokerage business models are continually evolving, and tech innovation is happening at warped speed. In the fast-paced and highly competitive real estate industry, it can serve as a helpful reminder for brokers to focus on the "four pillars" of brokerage technology tools. Let's break down the "four pillars" of technology tools for your brokerage: 1. Drive Revenue With the industry's leading recruiting module, we make it easier than ever to target the agents you want to recruit and build rapport and meaningful relationships faster. With contact record details protected in the agent databases, agent adoption is greater and leads to more engagement with more of their spheres of influence, resulting in more business transactions. Additionally, our industry leading lead generation volume and conversion rates catapults new business opportunities leading to increased returns on investment. 2. Increase Capacity An advanced CRM productivity solution such as Elevate BOSS™ allows agents to stay on track with tasks associated with each stage of the pipeline for buyers, sellers, and renters. Daily coaching emails (morning reports) designed to focus the agent on the highest and best use of their time while reminding them about the customers that need attention now is a sure-fire way to maximize effective selling time and increase production capacity. 3. Save Time Currently, the typical agent manages 10 different and disparate technology vendors. The Elevate platform combines an agent's core services into one solution, providing best-in-class IDX websites, CRM, CMA, email and text message marketing, document storage, pipeline management, activity coaching, social media marketing and lead generation, plus much more. Time lost is time wasted, and agents need to maximize their time on the activities that matter most, driving the behavior that produces the most desired financial outcome. 4. Save Money The typical brokerage manages more than 15 different vendors, incurring costs exponentially higher than what can be available in one, consolidated, simplified solution. By providing IDX websites, advanced productivity CRMs, email and text marketing, recruiting module, document storage, CMA creation wizard, blogs, automated content, social media marketing, online lead generation, lead routing and lead scrubbing concierge services, there is NO OTHER platform in real estate that combines all of this functionality into one, singular solution. With an unrivaled price point, Elevate BOSS™ saves you money and time while improving production capacity and driving revenue to increase your "company dollar." Are you ready to meet the BOSS? Elevate BOSS™ helps brokerages concentrate on what matters most. Consider your current technology tools, products, and services and compare them to what Elevate BOSS™ provides. Are your current solutions meeting all your needs? If you are unsure, spend a few minutes with the Elevate Brokerage Development team to discuss your business challenges and determine if our solution can benefit your brokerage. < Schedule Your Gap Analysis Now >
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What Is 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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What Makes a Great CRM?
The following is an excerpt from RE Technology's latest Success Guide: When looking for a CRM for the first time, we recommend developing a checklist of features and a ranking system for each of those features. Try this criterion: Feature Importance to Me Ease of Use Here's a brief walkthrough of how you might rank a feature.
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HER Realtors Launches kvCORE from Inside Real Estate to Fuel Growth in 2020
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Real Estate CRM Basics
What Is a CRM? CRM stands for customer relationship management and is used to describe a category of tools used by businesses to manage interaction with current and potential customers. There are many types of CRMs, but they generally share the same common goals to benefit any kind of business:
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Success Story: San Diego Team Triples Their Transactions with Software Switch
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3 Ways Independent Brokerages Can Win the War Against the 'Big Boys'
As more and more of the larger franchise organizations acquire and roll out proprietary CRM technology, it's become increasingly difficult for small to mid-sized independents to maintain their competitive edge. Recently, 20+ year real estate veteran Frank Chimento sat down with Bondilyn Jolly of Elevate and 3sixtyfive.agency to discuss the frustrations and challenges that the independent broker faces, and the limitations that "bolt-on" technology presents when attempting to aggressively recruit and retain agents, all while remaining profitable in a time of shrinking margins. Stream the conversation below and continue reading on for three challenges (and solutions) to how independents are leveling the playing field between themselves and big box brands. Challenge #1: Agent Adoption of Technology End-to-end technology that offers lead generation, nurturing and conversion tools for agents is costly, and many independent brokers struggle to offer highly adoptable options, leaving their agents struggling to fill the void. Many times, brokers have to offer a series of "bolt-on" solutions, incurring additional costs and vendor frustrations, only to recognize little agent adoption. Solution: When a broker is able to offer one, simple-to-use solution to their agents, it allows those agents to streamline the most critical parts of their day-to-day, while also offering true insight into what's working and what isn't. Agents are sales people, so technology, software and marketing can be intimidating. Any broker that can address this intimidation by offering a comprehensive offering, complemented by an intuitive onboarding and support experience, has an advantage over their competitors. Challenge #2: Agent Concerns about Privacy of Data Who owns an agent's data is a hot topic, especially when the technology is owned by a large corporation (e.g., Compass acquiring Contactually caused a freak-out—and mass exodus—for agents using Contactually that were NOT part of the Compass organization). Agents work hard to build their pipeline and don't want their broker or their franchise organization claiming ownership in the 'fine print.' Solution: If brokers want to provide a solution that agents will adopt, they should offer full transparency into the data that they access and ensure that agent's proprietary information is protected. Not only will this foster stronger, trusting relationships between the broker and agent, but it drives higher adoption because the agent knows that if they leave their brokerage at a later point, their data goes with them. Challenge #3: Agent Perception of Value When agents are forced to use multiple "bolt-on" technologies that don't connect together, it can be challenging to understand the value of their investment, leading to "buyer's remorse" and churn. On average, agents have to manage between 10-12 different technology tools, which is more costly, confusing, and time-consuming. Solution: Agents need insight into the ROI of their marketing and technology tools in an easily consumable way. A broker that can offer a solution with one dashboard providing at-a-glance metrics AND that connects all of an agent's day-to-day activities is going to win—even against the "big boys" that tend to be slower to develop due to the bureaucratic structure of their organizations. Is there a solution out there that drives high agent adoption, addresses privacy concerns, and provides valuable insight—all while being affordable for small to mid-sized brokerages to invest in for their agents? Yes, and that solution is found in Elevate, one of the hottest new CRM technologies to hit the market. Designed by agents and brokers FOR agents and brokers, Elevate levels the playing field between independents and big box brands. Affordable. Adoptable. Intuitive. Protected. ——————— Interesting in learning more about this topic? Join RE Technology's upcoming webinar: "Tired of Large Brokerages or New Brands Stealing Your Thunder? Learn how Small to Mid-Sized Independents are Fighting Back."with Bondilyn, Frank and Justin Falb, broker.  
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What to Consider When Sharing Real Estate Leads with Team Members
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Another Brokerage Unveils an iBuyer Platform: Nashville's Parks Realty Launches Parks Go
It seems iBuyers are expanding into new markets nearly every week. And if iBuyers are not in your market, don't assume they won't be; with the massive capital they've collected, they soon may be knocking on your market's door. For brokerages, the iBuyer movement presents an opportunity. All over the country, local brokerages are starting to seize this new opportunity.
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An Inside Look at Keller Williams' Command CRM
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IXACT Contact Launches Broker Portal, Recruiter Enhancements
IXACT Contact announced the addition of significant new features to their Brokerage Program. The first is the Broker Portal, which represents the next step in the evolution of IXACT Contact from a best-in-class CRM for individual agents and teams to a broker-level solution. The Broker Portal makes it easy to administer an organization-wide CRM and further leverage IXACT Contact in order to attract and retain the best agents and teams. The Broker Portal lets brokerages create and publish consistent branding and marketing collateral for their agents by taking advantage of the following features: A fully customized version of the Monthly e-Newsletter Custom graphical email and letter templates Custom Marketing Activity Plans (including drip email) Custom Listing and Closing Activity Plans Pre-loaded company logo and agent customizable standardized branding The Broker Portal also includes the following agent roster management features: A searchable list of all agents with CRM accounts Visibility to key data points on each agent including account status, created date, last login and number of contacts The ability to deactivate and reactivate accounts This first release of the Broker Portal is just the beginning, as IXACT will continue to add new features based on feedback they get from their broker partners. IXACT Recruiter Enhancements Their recruiting CRM, IXACT Recruiter, is another key part of IXACT Contact's Brokerage Program. Along with the release of the Broker Portal, IXACT Contact announced some important new features that will help you do more with IXACT Recruiter. The new Goal Setting feature takes you through a series of simple questions in order to set your annual prospecting and hiring goals. And the customizable Dashboard now includes a new Prospecting Activities widget that summarizes your prospecting activities and allows you to see how you are performing against your goals. The contacts Advanced Search function now includes a number of new ways to search your contact database, including 'keyword' searches on your contacts' history and notes, as well as the ability to easily search for those contacts that are missing key data points like email address and phone number. If your organization is a member of IXACT Contact's Brokerage Program and you're interested in the Broker Portal or IXACT Recruiter, or you want to learn more about the program, please reach out to [email protected]
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How Kyle Whissel became the #1 Team in San Diego
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RE/MAX Launches the booj Platform, a Custom-Built Technology Solution for RE/MAX Agents
Less than two years after acquiring the award-winning web development and software firm booj, RE/MAX, LLC today announced the launch of the booj Platform, an integrated suite of digital products that will empower high-producing agents, teams and brokers to proactively establish, manage and grow client relationships. Developed by booj engineers in collaboration with thousands of RE/MAX affiliates, the booj Platform is focused on delivering a better customer experience by streamlining the work of agents, from lead generation to post-close nurturing and beyond. Customer Relationship Management (CRM) is at the core of the booj Platform, deeply integrating additional features, including:
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Magic Happens When Broker Culture Fits with Technology Offerings
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Let's Argue About CRM and Lost Business
For every 500 customer records in a CRM, there are about 25 transactions, 50 sides. Here is how you know how many transactions happen across your customers each year. Look at Your Transaction Records vs. Public Record At WAV Group, we talk a lot about "Data as an Asset." One of the projects that we run for brokerage companies is to harvest insights from their transaction data. We can take a list of your closed transactions and run them against public records data to see if that property has transacted since your last transaction. Originally, we did this for brokers to validate customer records and trigger marketing for other services like homeowners' insurance or mortgage refinancing. The odd part of the research was the realization that brokers and agents are missing out on a lot of repeat business, not to mention a lot of insurance, mortgages, and titles. NAR has done the most research on explaining this loss: the number one reason that is that agents did not stay in touch. Ouch! Better invest in a CRM. Look at Your CRM Records vs. Public Record Ever wondered how many customers across agent CRMs have done business with a competitor? It is horrible to learn that a past client has transacted with a competitor. It is inspiring to know how many customers in your CRM have transacted with a competitor. Guess what? Contrasting customer records in your CRM against public records and company transaction records can get you the answer. You can look at this data in a couple of different ways. You can see lost opportunities as a failure, or you can be thoughtful and excited about how you can leverage your CRM to make sure that you never miss a transaction opportunity again. Most Agents Have 380 Customers Most real estate agents have about 380 customers in their CRM. Remember, quantity can be a very poor way to measure things. Out of those 380 records, many may be stale or incomplete. On the opposite of the spectrum, some agents have 10,000 records but know very few of them in any meaningful way. The best measurement in a CRM is quality relationships and quality engagements. It is not likely that your brother or your best friend is going to buy or list a property without you knowing about it. Run Your Analytics Once a year, it is a really good idea to create a lost sales report for your company, offices, teams, and agents. It is amazing to watch how agents will become more highly vested in using the CRM if they understand the number of lost opportunities that happen when they don't. Office managers can coach agents on skills to expand their customer records and deepen relationships with the people already in their CRM. Small, incremental improvements in the lower half of your agent production will create dramatic payoffs in office and company performance. Complications You need to have the right culture in your company to operate these big data strategies effectively. Your agents need to trust you with their data. You need their permission to go into their database to develop insights. Sign an agreement with your agents that you will not reuse or repurpose the data in any way. Tell them that they only need to provide you with an address list if you need to. You are just looking at changes in the title. Show them the number of trades they missed in the last two years. Show them the number of customers in their database who have lived in the same home for more than five years (that is the hottest target list for future transactions). Want Help? Contact Victor Lund or David Gumpper to help with projects focused on data as an asset. We can work with your CRM vendor to develop this program. Imagine what would happen in your business if you invest as much money and effort into keeping your customers as you do in finding new ones. Do you think your performance would be better helping agents do business with some stranger messing around on a website, or people that they already know? To view the original article, visit the WAV Group blog.
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Stop Focusing on GCI and Start Focusing on Success-Driven Activities
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The Consumer Journey Is More Like Chutes and Ladders
A tremendous amount of energy and money has been invested into moving consumers from a digital experience into an agent relationship. Consumer research performed by the National Association of REALTORS regularly indicates that consumers start their process of buying or selling online before connecting with a Realtor. I do not think anyone denies it. Journey Example
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Contactually's Take on WAV Group's 2019 CRM Effectiveness Study
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New WAV Group Study Reveals CRM Usage Is Key to Driving Sustainable Broker Profitability
WAV Group recently fielded its WAV Group 2019 CRM Effectiveness Study. The study distributed to 71,581 brokers across the country, clearly demonstrated that Client Relationship Management (CRM) solutions are becoming mainstream. Key Takeaways
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Better Habits, Better Relationships
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Technology Needs to Be Easy-to-Use
Agents are busy all the time. When I started as an agent, I tried to do it all from being the photographer, the social media manager, the stager. You name it, I took it on. So when I launched a new real estate brand in a highly competitive market like Orange County (Calif.), I wanted to only invest in technology for our agents that freed up their time and made their lives easier. To make their lives easier, I sought out tools that are easy to use.
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Your Website Is No Longer Your Single Biggest Tech Asset
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Crye-Leike Integrates CRM, Transaction Management, and Accounting
Crye-Leike is the sixth largest real estate company in America, and third largest independent behind HomeServices of America and Howard Hanna. The firm processes over 30,000 transactions a year across their 3200 agents in 125 offices spanning nine states. Beyond residential real estate, they operate businesses that provide services in commercial real estate, mortgage, title insurance, property and personal insurance, property management, and relocation. A few years ago, the company embarked on a program to select a transaction management solution and tie it into their accounting system and CRM system. The result is among the most sophisticated and effective solutons deployed anywhere in the nation.
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10 Steps to Successfully Switching Brokerage CRMs
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How Tech Can Make Your Agents More Human AND Productive
If you're a real estate broker, one of the most important parts of your job is helping your agents develop strong relationships with their clients. Because when your agents understand their clients, their clients are more likely to have a great home buying experience. Happy clients are more likely to become brand ambassadors who bring more business (including referrals and repeat business) to your brokerage through word-of-mouth. They also help you build your brand, among agents, brokers, and prospects.
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The WHY for CRM
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How to Get High CRM Adoption at Your Brokerage
Key Takeaways High adoption is critical to achieving high ROI on your CRM investment. Low CRM adoption is usually caused by a lack of prioritization, technology fatigue, password overload, and difficult-to-use CRMs. You can get high CRM adoption by choosing a CRM that's well-designed and easy to use, and: Focusing on early adopters. Setting a good example by using the CRM yourself. Making sure your agents are continuously supported through training and education—the best CRMs prioritize education and training for agents.
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Do Your Agents Have Enough Contacts in Their CRM Sphere?
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Real Estate CRM Tools to Personalize, Process and Nurture Leads
Real estate is often a highly personal business. The emotions that come with finding the perfect property forge strong relationships between real estate pros and clients--but maintaining those relationships after closing day can seem daunting. Nurturing prospects is also a crucial part of keeping your business healthy and growing, but in the chaos of closing deals, those valuable contacts can slip between the cracks. Real estate customer relationship management software helps maintain and deepen those connections using the following tools.
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CRM Tools: Getting the Most Out of Your Software
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How to Use a CRM to Get More Real Estate Leads
If you're in real estate, you're likely harvesting leads for your listings from all over. There are tons of third-party portals, social media accounts, and even referrals from family and friends that you need to keep track of, follow up on, and convert. In 2018, if you're not using a customer relationship management system, or CRM, to stay organized and in touch with your leads from beginning to end, you're letting valuable sales slip through the cracks. CRMs do everything from automatically generating welcome emails for new leads to helping you prioritize which leads are nearest to closing.
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Bradley Real Estate Going after Listings with Effective eProspecting Campaign
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Survey: Is Your CRM Working for You?
Welcome to the 2018 Broker CRM Survey Client Relationship Management software is coming of age in real estate. WAV Group Consulting, a leading research firm in real estate, is fielding a broker survey to better understand the role CRM solutions are playing today in helping brokerages become more successful by helping agents become more productive, focused and effective at building and maintaining client relationships. The survey should take approximately 5 to 7 minutes to complete. Thank you in advance for your participation and candid feedback. We know your time is valuable and we really appreciate your feedback. WIN a $500 Gift Card! Complete the survey and automatically be entered to win one of four $500 Gift Cards! If you have any further questions or comments, feel free to reach out to me at [email protected] or 805-748-9118. Please click here to begin the survey.    
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CRMs Innovate with Coaching Integration
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3 Ways the Right CRM Can Improve Your Brand Identity
When it comes to your business's growth and success, brand identity and customer relationships go hand in hand. After all, the way clients and leads view your brand depends on how you manage your relationship with them. Fortunately, the right Customer Relationship Management (CRM) software can help build your identity by solidifying client relationships and driving referrals to your business. Here are three ways that the right CRM software will improve your brand identity and help your firm rise above the competition to gain the notoriety it deserves.
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Don't Make These 3 CRM Mistakes
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5 Ways to Make Your Real Estate CRM More Effective
A powerful CRM package can help you to track, manage and scrutinize all your customer interactions. In doing so, you can gain useful insights that could lead to new sales opportunities. You can also improve the level of service you deliver -- but only if you're using the CRM package to its fullest. There are many ways to maximize the efficacy of real estate CRM, but here are five of the most significant.
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5 Key Features Needed for Agent Adoption
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3 Surefire Ways to Reap the Benefits of Your CRM
#1 way to reap CRM benefits: Move people through your CRM sales flow! The number one thing you can do with your CRM is to do what it was meant for: Convert, convert, convert by moving people through that sales flow. It sounds like a no-brainer, but there are tons of real estate pros out there that don't even use a CRM. Your sphere is everything. Not those cold leads you got from Zillow, not those contacts where you don't even know how they got into your phone. Your repeats, your referrals, those that will all list with you at some point in the next ten years. Moving these gems through the sales flow is a sure bet to getting the job done and that contract signed. #2 way to reap CRM benefits: Automation isn't the enemy. We've been hearing and reading some things that say auto-marketing isn't the way to go. While the sentiment makes sense that auto-marketing is not enough by itself (and that's true), it is still a vital touchpoint and there's really no excuse to not take advantage of it. I mean, it's automatic! By no means are we suggesting "set and forget" auto-marketing is the only marketing you should be doing, but since you only have to sign everyone up one time and it can be extremely effective, it would be ridiculous not to take advantage of this kind of marketing. #3 way to reap CRM benefits: Take lot of notes. A contact database with no context is relatively useless. Even if it's your own database, even if you have a great memory. Chances are, there are contacts in there like we mentioned above, and you have no idea whatsoever who they are. So, when you're adding new people or learn new info or just have a spare minute waiting at the doctor's office, update those notes! You might have a great memory, but we guarantee you won't remember all of their birthdays or their favorite hobbies or drinks right off the top of your head. No one can remember everything. If you want to hear from a pro why this note taking is so important, look no further. Psst – you'll also notice if you click that link that a strong database is a priceless ticket to retirement. And by priceless, we mean it could actually be very lucrative if you've curated it diligently and thoughtfully, so the next owner of your book of business can use it properly. So please, do yourselves a mega ultra-favor and take care of that CRM! Use it the way it was meant to be used, like the third arm you never had. To view the original article, visit the Moxi Works blog.
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Why Productivity Systems Are the Future and CRMs Are the Past
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Doubling Sales Volume Six Years in a Row -- By Following Up
From agent follow-up to leveraging the right tools, broker JP Piccinini, Founder and CEO of JP and Associates REALTORS, shares the secrets that have helped his firm double in size every year for six years. Check out the the interview below to learn more:
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What's in Your Wallet?
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Why the Right Brokerage CRM Can Be a Gold Mine
Choose wisely, and your brokerage could see agent productivity increase by 40% A CRM should be the epicenter of your customer and prospect data – and your brokerage. By not having the right one implemented at your brokerage, you cost yourself and your agents the #1 thing that matters most: Money. If profitability and growing market share is not for you, no sweat. However, if you do want to own the competition in every possible competitive category, then keep reading.
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Are You Adopting the Right Techniques in Your CRM Onboarding?
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4 Vital Questions to Ask When Choosing a CRM Solution
Choosing the best CRM for your organization can be challenging when there are a variety of options and best practices to consider. One of the most crucial decisions you'll have to make is whether to go with an "all-in-one" CRM or "best-in-class" CRM. Finding a CRM system that meets your performance requirements can be complicated and difficult whether you are a small, mid- or large-sized brokerage. There is a lot of pressure to make the right decision because it will affect how the entire company communicates with clients. There are many CRM options available today, but not all CRMs are created equal. In order to make the decision-making process as smooth as possible, you need to ask yourself four fundamental questions:
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What Is the Difference Between CRM and Marketing Automation?
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Types of CRM: What's the Difference?
Customer relationship management (CRM) solutions empower your real estate company with the functionality you need to effectively stay on top of many essential business duties. These systems are foundational for being able to sustainably grow and manage your business. When you're looking at CRM options, you might assume that they all have the same feature set. In reality, CRMs come in several distinct categories that focus on specialized areas. Read on to learn the differences between the different types of these systems.
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What Is the Difference Between CRM and ERP?
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Reading About CRM? Here Are the Top CRM Books and Blogs
The field of customer relationship management (CRM) is dynamic. Any business that wants to learn more about maximizing their client relationships needs to stay as up to date on new CRM developments by using as many reliable resources as possible. Here are 14 books, blogs, and other publications that can help.
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What Brokers Should Look for in a CRM
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The Secret Broker CRM You Haven't Heard Of (Yet)
There are certain real estate tools that we subconsciously tend to associate only with one segment of our industry—a back office app that's aimed at small brokers, for example, or a vendor that provides websites primarily to agents. So it's a pleasant surprise when we discover that a solution that we thought was only for one group can also serve another. Today, we're looking at one such tool. IXACT Contact, a CRM highlighted in our 2017-18 Technology Guide, has historically been an agent-only solution. For years, the company's customers were real estate agents whose brokers either didn't provide a CRM, or didn't offer a CRM that the agent wanted to use. That's all changed, however. IXACT Contact now offers a brokerage version of their CRM that includes features like:
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3 Must-Have Features Your Agents Need in a CRM
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How to Connect with a Millennial Home Buyer
Saying the words 'Millennials' and 'homeownership' in the same sentence usually has mixed results – especially with experts lamenting them for not jumping into the real estate market in droves. Millennials have been the primary marketing focus of almost every business model in virtually every industry, mainly because they are the largest generation in history and they stand to inherit an estimated $30 trillion in assets in the greatest wealth transfer in history – so it's understandable that they have everyone ready to pounce on their purchasing power. This is a generation unlike any other in the sense that brands still haven't completely figured out what makes them tick and how to market to them – and it's no different for the real estate arena. The challenges Millennials face in real estate
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Three Hard Truths About Building Your Brokerage
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Creating a Custom Email Experience with Mail Merge
Do you send emails en masse to your network of contacts? It's okay, you can tell us—we've all been there! And under the right circumstances, a mass email can often be effective in reaching your network and sharing news or updates as you maintain some of those crucial relationships. If you use a program like MailChimp, Constant Contact, or even Contactually's own ScaleMail, chances are you've utilized mail merge—even if you didn't realize it. Basically, mail merge should be (if it isn't already) your best friend in your email outreach as you look to personalize your emails on a large scale and keep your messages relevant to each individual you're sending them to. While it might require a little work on the front end by getting your contacts organized with different tags and creating a system that's consistent across your whole contact database, it'll pay off big time when you start sending better emails, no matter what software or email system you're using. Here's how to integrate mail merge into your strategy today: What is mail merge? We're glad you asked! Mail merge was originally created as a way of utilizing spreadsheets to import information into your email or even snail mail processes. It gave you a chance to import personalized information, like names and addresses, for large scale mailings. As technology has improved and changed, the idea of mail merge has also changed, but the gist is the same. Think about it as a tagging system for everyone in your contact database. Do you keep notes on your contacts or people in your network? This is where you put them to use! Spouse's and children's names, birthdays, and where folks work are all appropriate ways to tag your contacts for a start with mail merge.
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Spring Cleaning your Dirty Data!
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New Client Intel Tool Taps Public Records to Compile Insights on Your Contacts
Real estate agents and brokers frequently use public records to gather information on properties—but what about using it to collect information on people? That's what Secret Agent, a new client intelligence tool, aims to do. The solution taps public records data to provide demographic, financial, lifestyle and other information on an agent's sphere of influence. The information is served up in a 'dossier' of sorts that lets agents see data points that can help them connect with prospects or identify contacts who may be ready to list. The public records data is accessible from within Moxi Engage, a broker focused CRM from Moxi Works. "Let's face it, the core of an agent's business is built upon a strong client base, but it's impossible to personally keep up with every single one. Secret Agent now does it for them," says York Baur, CEO of Moxi Works. "By reminding an agent to reach out to clients when their kids are heading off to college or letting them know the investment opportunities their clients care about, it frees up even more time for agents and keeps them on track." Secret Agent collects and compiles the following types of information on clients and prospects: General demographics - Age, gender, median years of school completed Financial - Estimated home value, estimated household income, estimated net wealth, charitable donations Family - Marital status, number of children, age of children Lifestyle - Pets, interests, consumer purchasing habits And more
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Pull the plug or double down? Why one brokerage invested in new tech to get more value from their low-conversion paid leads
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Revamp Your Brokerage's Brand by Investing in Technology that Matters
Technology is changing how real estate does business Have you been Keeping Up with the Kardashians recently? Dumb question, neither have we. How about some of the technological trends and advancements taking place within the real estate industry? Advances in technology are changing the game in every industry, especially real estate. In a customer-focused industry that relies heavily on making people happy in order to be successful, it can be difficult for brokerages to keep up with the latest trends. According to the National Association of Realtors' (NAR) 2017 Real Estate in a Digital Age Report, staying up-to-date with changes in technology is one of the biggest challenges firms will face in the next two years. Additionally, keeping in touch with prospects is another challenge many brokerages face. The process of buying and selling a home is changing because of technology—and by adapting to necessary changes and using the right tools and software, your firm can maximize its profit by simplifying this process. What are some of the trends taking place? Improved site design/cleaner interface Routes/lead management Social media and email marketing Blogging Increased engagement using an effective CRM platform Virtual reality Using drones for property listings If your brokerage is behind in the times, you may want to consider introducing some new changes in how you use technology and encourage your team to adopt new methods of using technology to ensure optimal success between both the agent and lead. It's not enough to simply make the investment in updating your tech software, but to truly embrace these changes and utilize all the tools available to improve lead engagement and transaction management. Making the change to go digital allows brokerages to be more efficient, while staying current with the latest technology available in your industry is fundamental to staying ahead of the competition.
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What are the Touchpoints of a Brokerage's Front Office?
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Imprev and Moxi Works Integrate to Power BHGRE Rand Realty New Agent Platform
What happens when three highly respected real estate brands – one that excels in automated marketing services, another that is on fire in providing brokerage services with increased productivity and profitability solutions, and a real estate brokerage that is one of the most admired multi-billion dollar sales operations in some of the most competitive markets on the East Coast – come together? The egos get checked at the door and the results are innovation and integration, exactly what's needed to advance a better real estate experience for everyone today. This morning, Better Homes and Gardens Rand Realty announced its latest innovation for agents in productivity technology that taps into the excellence of both Moxi Works, which offers one of the hottest CRM solutions for brokerages today, and Imprev, which is powering marketing automation services for many of the most respected brands in real estate today. This means that Better Homes and Gardens Real Estate Rand Realty agents have access to the Moxi Engage™ CRM from Moxi Works that is now fully integrated into Imprev's advanced automated marketing platform. That's one powerful combination. In the news release issued today, Matthew Rand, managing partner of Better Homes and Gardens Real Estate Rand Realty, said, "There's a great technology race in real estate that has brokerages scrambling to add the latest innovations to gain a competitive edge and attract new agents.
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Choosing a Real Estate CRM for Your Brokerage
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How I Manage My Contact List… Kinda
The most important part of networking is showing up. The second most important part is following up. I advocate for people to follow up with new contacts soon after they first meet, so each person is still fresh in each other's minds. I talk a lot about the importance of following up on my blog at NetworkingForNicePeople.com. Following up well should help you keep your contact list organized, but the truth is mine is a hot mess. I have never been able to get into the habit of creating a single Gmail contact for each person I exchange emails with. The steps to add a contact in Gmail are a little clunky and end up taking too much time. And so I neglect keeping my contact list up to snuff. I used to stress about this, but I found a solution you can use too. Contact Management Solution... My solution is to rely heavily on search within my inbox. I am thankful I use Gmail, which of course is owned by Google – everyone's favorite search engine. They know a thing or two about search. Searching within Gmail is actually quite powerful beyond a simple keyword search. Here are a few examples of ways I use email search to manage my contact list. These results may vary based on your email service provider or software, but all should have a decent search function built in so give this a try. Search By Date and Keyword I usually mark my calendar to follow-up with new contacts about six months after a conference. Of course this is excluding the immediate follow-up I referred to earlier. I always use the conference name in my follow up email, "Hi Tim, It was a pleasure meeting you at XYZ Conference..." This is key to making this tip work. Assuming the conference was on December 1, 2016, I will enter the search query: before:2017/01/10 after:2016/12/01 "XYZ Conference." This search reveals messages sent just after the conference.
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Top Producer: Ask Us Anything!
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Propel the Sales Cycle Forward with Integrated, Intuitive Broker Tools
Tuesday, February 21, 2017 at 10:00 AM PST In this webinar, gain valuable insights into how the Top Producer® suite of products can help you build a thriving business. Learn: Tactics for generating more social media leads How to beat the competition at lead response How mobile-first tech helps your agents close the conversion gap About integrations that fuel agent success while offering you full transparency Register now!
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Top 3 Tools to Integrate Into Your Back Office
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How to Reinvigorate a Past Relationship
The "Big Idea" behind relationship marketing is that staying engaged with key relationships puts you at a strategic advantage for your current business efforts and the task at hand. By consistently following up, keeping these relationships warm, and adding value, we are able to nurture new, repeat, and referral business opportunities. One of the hardest parts of this, however, is that pesky little word consistently. As much as we try: There are people who we forget about. There are people who we worked with at one point, then moved on. There are introductions we never followed up on, in-person meetings we never kept track of, etc. Bottom line, there are people in our past network that we rediscover the importance of. We all know that feeling – for whatever reason or another, you find yourself staring at a contact record for someone who you haven't spoken to in two or three years. If only I had stayed in touch! How to revive your past relationships: I could let your overwhelming guilt and shame invigorate your desire to make sure that you don't repeat your mistake again, but I'd rather provide a little bit more value to you. We see a relationship where our mindshare is completely exhausted – but how do we reconnect with them? Let's dive in.
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Five Tips for Fostering a Client-for-life Strategy
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What's the Real Value of Portal Marketing?
A recent survey of over 120 broker-owners and senior leaders at some of the top real estate firms in the U.S. and Canada revealed an apparent disconnect between revenue goals and business strategies. According to the survey, 85 percent of brokerages focus their marketing investments on lead generation activities--despite the fact that nearly two-thirds of sales are the result of repeat clients and past client referrals. Clearly, agents and brokers are spending too much time and money marketing on portals when long-view strategies produce a better return on investment. While lead generation is an undeniably important tactic for targeting specific market segments, cultivating and fostering person-to-person relationships still offers the best value proposition for both brokerages and agents. Online lead generation can be influential for reaching first-time homebuyers, who are typically technology natives born after 1980. In fact, 95 percent of Millennials use the internet during their home search, according to a recent report from the National Association of REALTORS. From a broker or agent perspective, capturing this pool of potentials via online advertising and outreach seems like low-hanging fruit. However, while online marketing casts a wide net for connecting with younger first-time buyers, this strategy yields only 15 percent of closed sales transactions. That's simply not enough to grow a real estate business year-over-year—unless, perhaps, relationships with this class of consumers are cultivated over the long term.
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Top Producer: Ask Us Anything! (9/21)
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3 Tips for Managing Your Realtor.com and Zillow Leads
Purchasing leads through listing portals like Realtor.com and Zillow is a great way to get your hands on some contact information that might be useful. The thing to remember is that the information can only be useful if you can pull it up when you need it, and if you effectively nurture those leads to fruition. Lead nurturing is an exercise in patience. Most research shows that converting a lead requires a minimum of five "touches." Considering the nature of real estate—the fact that transactions are quite rare for the average person—it stands to reason that moving from lead to sale can take considerably longer. It all depends on the lead's situation when initial contact occurs. Past customers are our best source of referrals as well, so staying in touch after the sale is just as important. Occasional contact with some morsel of relevant information is often all it takes to keep your name in a client's mind. It's critical to have a comprehensive system for managing leads, all in a central location. Unless you're using your CRM to manage these leads, you're likely not making the most of that investment. When leads are stored in separate accounts on various listing portals, they can't be categorized and manipulated in many useful ways like they can on a CRM platform. By syncing those listing services with your CRM, you can import the leads directly into your database. This has several advantages right out of the gate: #1. Single log-in When everything is in your CRM, you don't have to log-in to multiple sites to get the information you're looking for. This saves considerable time and aggravation.
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Reesio Training (9/14)
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Propelling the Sales Cycle Forward with Broker Tools from Top Producer (9/13)
Tuesday, September 13, 2016 at 10:00 AM PDT In this one hour webinar with Broker Consultant, Luke Rogalsky, gain valuable insights into how the Top Producer® suite of products can help you build a thriving business by addressing: Actionable strategies to ensure your agents make the first connection Tools to foster and build trust after the initial prospect contact Data and relationship intelligence to move the sales cycle forward Seamless integration of technologies for quick agent adoption Real-time insights and marketing metrics for Brokers Register now!
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Introducing Wise Agent (9/13)
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Welcome to Top Producer: Build Relationships, Build Your Business (9/8)
Thursday, September 8, 2016 at 10:00 AM PDT To make sure you get off on the right foot with Top Producer®, we're hosting a webinar to help you get up and running in no time flat. During the webinar we'll: Introduce you to our team and show you some cool resources. Show you 4 simple steps that'll have you reaping the benefits of your CRM right away. Answer any questions you may have. So take a stress-free break and register today for this 45 minute, can't-miss webinar! Register now!
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CRM Tools Solve the Problem of Agent and Client Retention
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Propelling the Sales Cycle Forward with Broker Tools from Top Producer (8/30)
Tuesday, August 30, 2016 at 10:00 AM PDT In this one hour webinar with broker consultant, Luke Rogalsky, gain valuable insights into how the Top Producer® suite of products can help you build a thriving business by addressing: Actionable strategies to ensure your agents make the first connection Tools to foster and build trust after the initial prospect contact Data and relationship intelligence to move the sales cycle forward Seamless integration of technologies for quick agent adoption Real-time insights and marketing metrics for Brokers Register now!
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