I love my real estate tool chest: CRM, lead-generation systems, transaction management, call capture, electronic signatures and social media. The tools that real estate agents and brokers have at their fingertips are second to none, and we, as an industry, are quick to innovate and purchase more tools. All of these tools and technologies serve great purpose in running an effective business. That’s the good news.
The bad news is that all the best tools in the world won’t close a transaction, and the tools won’t work if you don’t learn how to use them. As part of our new Admin Mastery Program (AMP), we take a closer look at an agent’s best practices and score their business in several areas of automation.
Areas that are scored include:
– Lead Management
– Transaction Management and Process
– Business Management and Accounting
The findings have been eye-opening. Most of the teams and agent businesses we’ve scored have purchased tools and technologies that should allow them to score very high, but the majority score less than 30 percent of the total points available for implementation and execution. That tells me that people have the right tools, but haven’t incorporated the skills to effectively use those tools.
We need to stop buying new tools and start learning to use the tools and systems we already have. Many brokers, owners and big brands provide amazing tools for their agents, yet those same agents go to conventions and classes where a better mouse trap is presented, and they purchase the next shiny object, but never implement it.
My challenge to each of you is to stop buying and start looking at what technologies/tools you currently have. Make a list of what you already own or have available from your broker, then create a plan for a higher level of execution using those tools.
Let me give you a couple examples of what that might look like.
- Master your CRM. Are you using Top Producer, RealtyJuggler, Wise Agent or another real estate-specific CRM effectively?
– Go through and update all the contacts with contact type and update the record.
– Call each client and touch base; this will generate new leads and referrals.
– Set each client on a follow-up plan based on who they are (SOI, past customer, business relationship, etc.)
– Use a tool like Market Snapshot as an icebreaker when you’re calling to provide something of value.
- Automate your listing and closing tasks. This seems so obvious, but most agents still use a paper check sheet stapled to the inside of a manila folder. It’s time to create action plans so you can provide a higher level of service and make sure key activities don’t fall through the cracks. This allows you to grow and scale without spending more time at work.
- Create a social media calendar. If you take the time to develop an editorial calendar and decide what your messaging will be in advance, your social media will go from being a time-waster to a money-maker.
Execution of technology isn’t hard, but it does take time. We created our AMP program to train assistants to do the key things every business should be doing to grow from 20 transactions a year to 100 without working more hours. If you want to take your business to the next level, make sure you’re effectively using the key technologies you already own.