Time for a short quiz:
1. Would you like to have better quality leads?
2. Would you like to be better organized so you could handle more work?
3. Would you like to retire a millionaire?
That may be the easiest quiz you’ll ever take. And if you answered “no” to any of the questions, please call 911. You might need your head examined.
If you’re alive, keep reading, because you’re about to learn how to achieve each of these items with the help of a man who knows a thing or two about getting real estate agents organized and on track with their customer relationship management (CRM), and thus, helping them make more money.
His name is Rich Gaasenbeek, and he’s an expert in real estate CRM. He’s also the vice-president of sales and marketing for one of the fastest growing real estate CRM companies in North America, IXACT Contact. I spoke with him recently and asked him how real estate agents can get more organized, and in the process, succeed at CRM:
Bob: I know you’re a big proponent of CRM software. Why is that? What are Realtors missing who don’t use CRM software?
Rich: In a recent study by ActiveRain, top performing agents said the key to their success is CRM software. The study also found that successful agents are twice as likely as unsuccessful ones – measured by annual income – to use CRM software. Why is that? They know a good CRM helps them generate higher quality leads, be better organized, operate more professionally and handle a higher volume of business.
Bob: Agents and brokers often hear they’re supposed to stay in touch with clients and prospects, but what are the best ways to do that?
Rich: Here are some fantastic ways that even the busiest agents can stay in touch: get your CRM to send out an e-newsletter every month; assign every lead you get to a drip email or letter marketing campaign; make quarterly check-in calls to your best clients; and plan client appreciation events and get your CRM to remind you when birthdays and home purchase anniversary dates arise, so you can reach out with a card or small gift.
Bob: We know CRM is important to keep business coming in, but what about when an agent retires? I’ve heard many leave a lot of money on the table when they retire. Explain that.
Rich: A lot of money is right. Is $1,000,000 a lot of money to you? You bet it is. Let’s say you were good at keeping in touch and you were the preferred Realtor for just 50 people in your database. Say each of those 50 people moves once in 10 years and uses your services on both ends. And let’s say they give you just three referrals over 10 years and you get one end of a deal on each. Let’s put your average commission at $5,000. Then those 50 contacts will make you over $1,000,000 over 10 years. If you can do that simple calculation for someone who’s interested in buying your business, your retirement just got a lot better. Lawyers do this, financial advisors do it and Realtors should too. It all begins with your CRM.
There you have it. A key element of success in real estate is CRM software. You have a lot of options out there, so I suggest you shop around for your specific needs. I know Rich’s product, IXACT Contact, has gotten rave reviews (it was even featured in Realtor magazine). What’s great about the system is that it’s a real estate CRM, email marketing solution and professionally designed and written monthly e-newsletter all in one.
Bob Corcoran is a nationally recognized speaker and author who is founder and president of Corcoran Consulting Inc. (CorcoranCoaching.com, 800-957-8353), an international consulting and coaching company that specializes in performance coaching and the implementation of sound business systems into the residential broker or agent’s existing practice.