As we approach the finish line of 2018, it’s an ideal time to reflect on our professional achievements. In any single year, a real estate agent learns so much, encounters their fair share of challenges and enjoys many satisfying wins.
What hard-won learnings will you take from 2018 to propel you to greater heights in the coming year? What changes will you make to your technology, prospecting and marketing practice? Many aspiring market-leading agents invest in coaching and take time to attend inspirational seminars led by respected trainers.
Attending events is one thing – but taking action and implementing new systems is what differentiates champion agents from journeymen.
2018 has presented the real estate industry with a shifting market influenced by tightening lending practices, courtesy of the Royal Commission into Banking. Appropriately, agents have focused on succeeding amid market conditions many have never experienced before.
For the first time in 10 years, market sentiment has shifted – particularly in the robust markets of Sydney and Melbourne. It falls to each agent to ensure they are connected to their market and managing every aspect of their pipeline to get maximum results, regardless of external factors.
To rise above the media maelstrom frightening buyers and vendors, focus on running your own race. Technology is one of your greatest assets in cutting through negative market noise, helping you to communicate clearly with your prospects and focus on the activities that really contribute to your bottom line.
To rise above the media maelstrom frightening buyers and vendors, focus on running your own race.
The single asset that can help address all your pipeline issues is a legitimate buyer database. Many agents boast to prospective vendors that they have an impressive database of buyers who are ready to pounce on the right property – but it needs to be in easy reach.
TIPS TO BUILD A POWERFUL BUYER DATABASE
1. Capture every inbound enquiry from your website and real estate portal. Set buyer requirements fastidiously, if your CRM hasn’t this automated feature.
2. Add every phone query to your CRM; understand the specifics of what they are looking for and their timeframe.
3. Capture details at every OFI, right there and then on your CRM’s mobile app. Find out the critical factors each buyer needs in their next home or investment.
4. Conduct weekly follow-up calls to all buyer prospects who want to purchase in the next six months. Get a sense of how active your buyer is, give them market updates and let them know which properties have sold. Ask them for specific feedback on properties you believe fit their criteria and refine your buyer requirements in your CRM so you can pair them to a home that ticks the majority of their ‘must haves’.
5. When conducting market appraisals and listing presentations, be ready to pull your impeccable buyer database into your pitch. Every vendor wants a quick, profitable sale – and if you can deliver such a result legitimately in an off-market campaign, vendors will be falling over themselves to list with you.
Working a detailed, clean buyer database is one way to win the real estate market in 2019. By following these five intuitive steps and getting your technology working hard for your success, you’ll soon develop an unbeatable edge that will keep your pipeline healthy for years to come.