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Our real estate contact management and marketing blog shares ideas and tips on how to create a successful and growing referrals-based business using a real estate CRM.
- Real estate marketing and lead generation best practices
- Proven strategies for building profitable client relationships
- Keys to better organization and control of your business
- Ways to master your real estate contact management
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Monthly Archives: December 2011
Your database/ real estate contact management system of past clients, hot prospects and business-to-business referral sources is your most valuable business asset. The more clients, real estate leads, and quality contacts in general that you have in your database, the more repeat business and referrals you’re likely to get (assuming, of course, you communicate with those contacts in just the right ways).
But what if you don’t have enough contacts in your real estate contact management system?
Here are some ways to rapidly add more names:
1. Your personal and professional network
You’ve developed a good relationship with a past client or referral source (and, of course, your real estate CRM played a key role!). You’ve built loyalty with that person, or are confident that you are well on your way. How do you maintain that momentum so that the loyalty you’ve worked so hard to nurture will continue to yield referrals and repeat sales for your real estate sales business over the long term?
You must put real estate marketing plans in place to maintain client loyalty. If your database is growing large and you can’t meet one-to-one with every client on a regular basis, it is especially important to schedule regular client loyalty programs in your real estate CRM.
Here’s the scenario. Your brokerage or office provides you with a real estate contact management (CRM) system for free. What a sweet deal, right?
Not so fast. If you go this route, you may be setting yourself up for serious headaches and a potential disaster down the road. Here’s why.
The first challenge is that if you ever decide to change brokerages, you’ll have to move your data over from your office system to a brand new system. Can you easily export your data out of the system and are the fields set up so they can easily transfer over?
What do you think?!?
Depending on the state of the real estate market, up to 20% of homes listed at any one time are For Sale by Owner (FSBO). So, there’s a good chance that in your real estate sales career one of your past clients will refer you to people who are trying to sell their home without a real estate agent.
Following-up on a FSBO, even when you’ve been referred, can be tricky. These people are inundated by REALTORS® trying to get them to list the traditional way — and, as a consequence, they can be understandably defensive.
The below is a re-blog from an AGBeatarticle that was very recently published. It presents some important information from the National Association of REALTORS®. There are three key takeaways from this data:
Exhibit 7-1: Most people find their REALTOR® though a referral or used the agent they worked with previously:
1) You should invest far more money and time keeping in touch with your database of past clients and referral sources than on your website and other advertising. Practicing effective contact management using a good real estate CRM such as IXACT Contact will deliver 15 TIMES the business of your website and advertising.
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The phone rings. You answer. The person on the other end says, “Hi. We may be interested in selling our home and buying a new one. Can you help us?”
Few events will perk up the weary REALTOR® more than this type of call. In fact, some agents will pull out their calendars and try to nail a listing presentation right away – before they even know the potential client’s name! “I have to move fast,” many agents will say. “Or else a hot real estate lead may slip through my fingers.”
There are two kinds of feedback you can get from a client — negative and positive.
Understandably, most real estate sales professionals prefer the positive kind! That includes praise, raves, thanks, displays of appreciation, testimonials and so forth.
Positive feedback teaches you a lot. It confirms that what you’re doing is working, and that you should do more of it.
Positive feedback, of course, is also a clear indication that you’re building loyalty with that client or business-to-business referral source. And loyalty leads to more repeat business and referrals.
But what about negative feedback?