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Posts tagged ‘CRM’s’

17
Jan

Can You Automate Your Real Estate Business?

Osaka Tin Toy Institute – Tin Age Collection – Robby the Robot with Blaster – Front

Osaka Tin Toy Institute – Tin Age Collection – Robby the Robot with Blaster – Front

This week’s meeting topic was pretty straightforward. I was curious to know how many functions of our business could be automated. Were there any functions that you could assign and, essentially, forget about and were those functions important to our business? I taped up three boards to the wall marked; Completely Automated, 1-3 Touch Automated and Not Automated.

Category 1. The completely automated category are those that you would consider “set-and-go” type functions. One you set them up they pretty much look after themselves. For instance, you might opt to outsource your social media posts through services like City Blast. There are also newsletter companies that create content and mail out a set number of newsletters to your farm area each month. Many website companies will keep your site current with timely articles and IDX or Vow feeds can keep your site current. You can even find services to do email drip campaigns, Facebook ads and SEO. Additionally, your brokerage might have its own lead generating system that you participate in or online surveys to provide feedback on your services.

Category 2. The next category is the 1 to 3 touch automated. It is slightly more complicated than the fully automated category because its success relies on you either entering data or pushing a few buttons to make things happen. Unlike fully automatic functions you will need to spend some time at a device, like a computer, iPad or smart phone. There will be some data to enter either in your CRM system or perhaps just setting up a prospect match. If you have done the templates ahead of time then just listed or just sold cards fall into this category. For the busy agent there are a number of touch point services to help you build connections with potential clients like sending thank you cards from your phone or choosing closing gifts and depending on your skill level you could incorporate automated email response systems.

Category 3. Finally there is the not automated category. These are functions like home showings, putting offers together and negotiating deals, door knocking, open houses, writing blogs and doing research. To accomplish anything in this category you need to be fully invested in the real estate business. There is little chance that over the near future these tasks could be performed by an automated source.

The truth is that real estate is a business that requires a great deal of attention from many different directions. At the heart of it is relationship building, networking, and staying top of mind with the people in your network. While some of those functions can be completely or almost completely automated to be a standout success you must have boots on the ground. It is important to note that neither category 1 and 2 can work in silos without input from category 3, yet category 3 can function without 1 and 2. Also interesting is the costs associated with each function. Category 1 relies the most on outsourcing the jobs and is therefore the most expensive, while category 3 is the least expensive but the most time-consuming.

Mark McLean is the Broker/Manager at the Bosley Real Estate Queen St W office, the Immediate Past President the Toronto Real Estate Board and a director at the Ontario Real estate Association .The opinions expressed here do not reflect the opinions of TREB, OREA or Bosley RE.

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5
Jun

Dum Da Da Daaaaa! Where Do Clients Come From?

meeting client picI know you’re dying to find out the results. Earlier this week I sent out a simple message to my agents…”The results of my little survey are in BUT you will have to attend tomorrow morning’s meeting to find out where clients come from. The methods were highly unscientific but the results will be mildly informative (hopefully) and, with any luck, generate some worthwhile conversation”. The heading was also a bit catchy…Dum Da Da Daaa!

I have to admit that I was rather curious too. A few weeks ago I pulled the last 120 deals from our records. I wanted to know two things; Where did the agent meet the client AND how long did they know them before they bought or sold their house. I had a feeling what the top response would be but I was more curious about other responses. It took me some time to contact each agent and ask the questions but in the end I was able to categorize the responses into twelve clear groups. We had a full house at our meeting to unveil the results. Now, if you know me then you know that reading them off is NOT something I do well. I prefer the pomp and circumstance of an event, even if the results aren’t all that exciting so we played the “Realtor Feud” game, pitting the Red team against the Blue team in an epic battle (not really) with the winner getting bragging rights for the day.

Obviously the results will vary but I thought it interesting that the top four responses, representing 67%, came from the people we know the most; past clients and friends. I suppose that makes sense, after all, our past clients and friends know us the best. We are still picking up clients from people we don’t know as well. That’s a good sign and evidence that traditional methods of prospecting work. Flyers, news letters, open houses, sign calls and walk-ins accounted for 15%, family and neighbours accounted for 10%, clients coming from social media and web accounted for 6%, and professional referrals (people you are associated with in business such as referral companies, lawyers, accountants) accounted for 3%.

So the next question is how quick did agents buy or sell homes? Well not surprisingly (again) agents had long-lasting relationships with friends, past clients, family and professional referrals. Social media and web-based clients had the shortest relationship time followed by signs calls, open houses and walk ins. This indicates that clients coming from these sources have done their research and are in the active buying or selling process.

The take away from this little bit of non scientific research is that you need to prioritize your inbound clients. Past clients and friends are on a slow drip campaign when it comes to touching base and follow-up. Online leads, open house and sign call clients are ready and able so deal with them quickly. I believe this little test is further proof that a solid CRM system is a mandatory tool for our business. I would encourage all Realtors to evaluate where their clients are coming from and prioritize their contacts.

mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.

27
Jan

When Bad Things Happen To Good Agents

karma babyRejected, scuttled, jilted and abandoned. These are just some of the words to describe that moment when life hands you a real estate loss. You know, that exact time when the client you’ve been working with for the past few months emails you to say…”hey we were out this weekend and walked into this amazing house AND well, we bought it…isn’t that great?”. Or how about “we were going to list with you but my boss’s wife is an agent and…”. Oh and my favourite (that’s happened to me twice in 2014) “We figured since you were a manager now you wouldn’t be able to help us, so we hired someone else”. Nothing, absolutely nothing, is worse than having to look that person in the eye and congratulate them even though you would rather kick them in the stomach. The reality is that these clients aren’t out to intentionally cause you harm (at least we hope so). They just weren’t thinking.

If you are a Realtor, I have just one thing to say…get used to it. After 25 years in the business, no one knows more than I do that there is no loyalty when it comes to saving a buck and no matter how good you are at staying connected, one of your clients is going to buy or sell a property without you. It’s how you recover that defines your career. Someone once told me that when you get bad news, you should take 24 hours to cool down. Formulate your response but keep it under your hat. The hotter you are the longer you need to cool down before you press send. I would be the first to admit that there are times when I don’t necessarily follow that very sage advice. When (and if) the sting subsides, find out what went wrong. Was it just a timing thing? Was the new agent at the right place at the right time? What did they say that sealed the deal? I believe it’s important to have that “exit interview” in order to learn from the experience. Maybe, if you acted quicker, you could have saved the deal.

So what can you do when you get that inevitable call? First and foremost…take a deep breath. This is only a minor setback. There is truth to the old saying, ‘what goes around comes around’. That basically means that one day you will be the guy that fluked into a deal that some other agent was hoping to close. So hold your head high and keep those clients in your data base. NAR reported that over 70% of home buyers and sellers never hear from their agents once the transaction closes. This is your hall pass to return the favour. Send them flowers, congratulate them on the purchase (or sale). Work that CRM like no one else. Trust me, nothing is as constant as change. Those clients will move again and when the time is right they will look to the person who has been by their side the whole time.

mark mclean is the Broker/Manager at the Bosley Real Estate Queen St W office and President-Elect for the Toronto Real Estate Board. The opinions expressed here do not reflect the opinions of TREB or Bosley RE.

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