CRM

2 minutes
Classroom Setting

The Path Toward Real Estate Success: CRM Essentials

Joshua Smith Apr 10th, 2020
Real Estate Advice
Real Estate Success
CRM

A CRM is a “Customer Relationship Manager” and is a system that can help you automate your lead follow-up, stay organized, and help ensure you do not miss tasks. Your CRM might be your most important tool you use to fuel the success of your real estate business.

Statistics show that most realtors do not have a CRM. But even the ones who do don’t use it effectively.

The first place to start when selecting a CRM is with your budget. Like most things, you get what you pay for, but you must work within your budget, of course. The real estate technology world has no shortage of CRM choices, so I am going to focus on the critical features your CRM must have to boost your ability to succeed.

MUST HAVE FEATURES:

#1: The ability to add leads both manually and automatically into your CRM

#2: The ability to add notes to each individual lead inside your CRM

#3: The ability to organize your database with types and categories: Buyers/Sellers/Leads/Clients/Past Clients/etc.

#4: Mass email feature that allows you to send an email to everyone in your database all at once

#5: Drip plans, both email and text

#6: Auto responses, both email and text

#7: Manual and automatic tasks

These are the seven absolute must-have features a CRM needs to be effective. A good CRM is so critical to ensuring your follow-up process is followed (for more on lead follow-up best practices, click here), you stay on task, and stay organized. Once set up correctly, a solid CRM is a massive game changer.

If you do not have one already, start working on identifying and setting up your CRM.

Next time, I will discuss the importance of your website and the features to look for when selecting a site.

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

3 minutes
Happy couple closing a real estate transaction.

The Path Toward Real Estate Success: Past Client Referrals

Joshua Smith Jul 3rd, 2020
Joshua Smith
Mastery
Making Money in Real Estate

Consider the following statistic:

88% of recently surveyed buyers and sellers said their realtor did a great job, and that they would absolutely use him/her again in the future. However, only 11% ever do a repeat transaction with that realtor.

How could this be?

You can deliver absolutely amazing service to your clients, but if you do not stay in touch after the fact, those clients will forget your name and not know how to reach you. Out of sight, out of mind. To ensure your past clients do future business with you (and equally as important, send you referrals) you MUST stay in touch!

But why don’t most agents stay in touch?

1: They do not have a CRM/database to stay organized to stay in touch. Read more about what to look for in an effective CRM here.

2: They feel uncomfortable bugging past clients begging for business.

The great news is both of these objections are extremely easy to overcome:

1: Get a CRM/database, and use it. Problem solved!

2: You absolutely do not need to beg for referrals to stay in touch, but you must stay in touch!

But how do you stay in touch without coming across as an annoying sales person? By checking in and always focusing on the human connection. As Dale Carnegie states in his amazing classic business book, “How To Win Friends and Influence People,” the way to build deep connections is by being “interested in others, not trying to be interesting.”

Here are some tips for checking in with past clients:

1: Put past clients in your CRM/database, and send a “Monthly Video Current Market Update” to keep everyone educated on what is happening in the local real estate market.

2: Send out handwritten birthday cards.

3: Send out happy holiday emails.

4: Pick up the phone, and call every 90 days. Don’t make it about you, make it about them. “How is the Family?”... “How is Work going?”.... Etc.  Ultimately, the law of reciprocity will kick in and they will ask about you, your family, and your real estate career. 

The goal is to stay in touch, and by staying in touch you will stay front of mind, which will absolutely result in referrals! Now, to do the above, again, you need a good CRM/database that will allow you to task yourself, take notes, and allow you to do mass emails.

Your past clients are truly your money tree that is growing in your backyard. Don’t forget to water it!

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

4 minutes
Using technology to enrich a business relationship.

The Path Toward Real Estate Success: Recommended Tech

Joshua Smith Aug 28th, 2020
CRM
Joshua Smith
Making Money in Real Estate

While last week’s post was focused on how to prevent technology from diminishing your role as a realtor, technology and systems do help you run a much more effective and efficient business, while providing better service to your clients and creating a deeper connection.

So today, I would like to discuss some systems I recommend having in place.

IMPORTANT NOTE: You do not need to have all of these systems. They can allow you to be much more effective and efficient but are not necessary if you are unable to afford them.

Recommended Technology and Systems In Your Real Estate Business:

#1: CRM/Database. Your #1 asset in your real estate business is your connection with your database. To be truly effective with your lead conversion, pipeline management, etc.. a CRM/database is absolutely crucial! More on CRM essentials here.

#2: Tracking Systems. As we have discussed in past tips, you MUST be tracking your daily activities, appointment set/conduction/client ratios and your financials. The great thing is this can all be done for free with Google Drive. Read about tracking here.

#3: Website. Today’s consumer is going to do their research on you, and they will expect you to have a site. You want a website which allows you to brand yourself, has a blog feature, is effective at lead generation, etc. More on what to look for in a site here.

#4: YouTube Channel. Today “Content is King,” so you must have video content on YouTube, which is the #2 search engine on the planet, and is owned by the #1 online search engine on the planet, Google. You should be creating and posting market update videos, informational videos about your area/community, top real estate tips, etc. The importance of creating content will only grow.

#5: Social Media. Social Media is essentially another free database which allows you to build relationships with potential clients, current clients, and past clients. More on Facebook Lead Generation here.

#6: Email, Cell Phone, Scanner… OK, I know these are all things we know, but I wanted to throw them in here, as they are essential.

#7: A System for Everything Done More than Once. You should have system in place for anything and everything you do regularly, from ordering business cards, to your lead gen, lead follow up, appointment preparation, appointment conduction, client/contract to close process, past client follow up process, etc. Just as a rule of thumb, anything you do more than once, needs a system in place to ensure it happens over and over, in the same way, is not missed, can be duplicated, and eventually delegated.

#8: Online Email Signature System like DocuSign, ESign, etc…

BONUS/Additional Luxury Systems/Technologies: power dialer, expired/FSBO list provider, neighborhood homeowner contact information provider, CMA report tools, seller net sheet/buyer cost sheet apps, contract to close/contract management systems and many more, as there are thousands of systems which exist.

Again, technology and systems will allow you to provide better service to your clients, stay on top of your tasks, and ensure things are not missed. As soon as you are able add these systems to your business as they will have a large impact if used properly.

IMPORTANT NOTE: Any technology/system you implement into your business will only be as good as you use it. For example, you can have an amazing CRM/database and get poor results if you use it poorly. There is no “Magic Pill” that exists. Like with anything else in life, you get out of it what you put into it!

Of course, always “Lead with Revenue”. Add what you can as you can, but make sure you have the revenue coming in to afford it. Then, add it into your business, use it, and take your business to the next level!

Also, don’t try to implement everything overnight. Implement one system, get it dialed in, learn how to use it effectively, and once you have it down add the second system, and so on.

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

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