Elite AgentTECH + SOCIAL

Is Your Database Fit or Fat?

For years we have heard from coaches, top performers and advisors that a clean database is the key to performing consistently in any market. Match this with systems and a methodical attitude and you certainly have a formula for success.

IN THE FUTURE, your data will be even more important than it already is. But if you were to ask a range of real estate agents how they are going with their CRM, you would get a varied response.

For many, the word โ€˜databaseโ€™ (or CRM) is a dirty word, fraught with frustrations and challenges such as missing information and duplicate contacts and properties.

We are finding that a major obstacle to growing a clean database is having everyone using and contributing to the one system, including all of the sales people and administrators. Real estate systems in the past have, unfortunately, allowed duplication and incomplete data which causes staff to lose confidence and disengage.

As we all know, technology varies significantly in terms of ease of use, speed and functionality. It is quite common for sales agents to give up on the office CRM and revert back to good old Outlook and spreadsheets. Some even sign up with a totally separate CRM solution to keep on top of things.

Now we are seeing increasing demand from agents to be able to run their appraisals, sales, opens and prospecting all from their mobiles or tablets. The pace has certainly picked up and no agent wants to be left behind.

So how does a real estate principal strike a balance between all of these factors and start future-proofing their business?

It all starts with gaining an understanding of how Fit or Fat your database is and asking for feedback from the staff on the current systems being used.

QUICK DATA HEALTH CHECK

  • Download your contact and property data to Excel (most CRMs support this)
  • Do a quick sort on names and address to highlight any duplicates.
  • Take a look at areas where information is missing, including emails, phone numbers, relationships, and so on.
  • See how many of them have up-to-date requirements (essential for quick buyer matching)
  • Check whether all their categories are up to date, such as Vendor, Buyer, Previous Vendor, Landlord, Investor, and so on.

If you donโ€™t like what you see then you may consider a data detox. There are companies that can certainly help you with this.

Here are our top four tips to help you improve and maintain a clean database.

  • Feed all of the buyer enquiries directly from the major portals into your CRM – check to see whether you have that option.
  • Capture all attendees at opens on mobile devices live into the CRM. Make sure you subscribe to emails and create automatic requirements.
  • Have someone in the office (admin) to assist the sales agents in keeping on top of updates
  • Get everyone on board with your chosen CRM and conduct regular training.

Dealing with sales people if you are a principal

  • Listen to their concerns and challenges and understand what support they need to achieve their goals.
  • The problem we see is that salespeople do not realise the direct correlation between working their CRM and increasing income. They will always follow the path of least resistance. You need to support and encourage them to realise this.

Having a fit database along with an easy-to-use yet feature-rich mobile CRM will enable you to create and protect your reputation as the recognised trusted advisor and agent of choice in your area.

As the pace picks up you will need to access information fast; keeping in touch with regular timely updates for your buyers, prospects, vendors and landlords. This can be overwhelming without automation and mobility.

Keeping in regular touch with helpful information via email, print, SMS and phone will establish a strong brand presence and keep you top of mind.

As you master your database you will experience the rewards of quickly connecting listings to an ever-growing pool of interested buyers to land more off-market, quick sales. This also builds your pipeline and referral network, essential for doubling or tripling your results this year.

For more information and to download a free Data Health Check list, please visit agentbox.com.au/datadetox.

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Eddie Cetin

Eddie Cetin is the APAC Managing Director of Reapit Group. The combined Agentbox and Reapit offering provides real estate agencies with one market-leading solution for Sales and Property Management. Eddie co-founded Agentbox, the Sales CRM of choice for most high performing agents around Australia. For more information, visit agentbox.com.au