Dec 5, 2023
Here’s a secret foundation for building your real estate business. It’s an acronym that most real estate agents don’t know about, but it's essential to creating a successful business.
This episode will discuss the importance of setting up, optimizing, and engaging your database or CRM (Customer Relationship Management) system to generate a steady flow of deals for your business.
Your database is not just a tool for an organization but a valuable asset that can be sold if you decide to exit the real estate industry. Listen to this week’s episode of The Real Estate Sales podcast to learn more about it!
E - Everybody Goes in Your Database
- To ensure a comprehensive database, you must include everyone you know who could be a buyer or seller.
- This includes renters, homeowners, and your sphere of influence.
- Having a wide range of contacts in your CRM system allows you to reach out to them consistently and build relationships over time.
N - Notes on Every Person
- As your database grows, remembering every detail about each contact becomes challenging.
- Therefore, taking notes on each individual is crucial, capturing vital information and personal attributes that will help you deepen your relationship with them.
- This includes interests, future plans, and anything discussed during conversations.
- The more information you have, the better you can serve your clients, making your database more valuable.
G - Generate Automated Property Emails
- By setting up your CRM system to send automated property emails, you can provide consistent value to your contacts.
- For homeowners, these emails can feature updates on properties that have come on the market, gone under contract, or sold in their area, directly impacting the value of their home.
- Potential buyers and renters can also receive property updates based on their preferred price range and preferences.
- Prospecting becomes effortless as your CRM system generates property emails regularly.
A - Add Personalized Value
- While automated emails are valuable, adding a personal touch can make a significant difference in building relationships.
- Identify opportunities to reach out individually to contacts.
- For example, if you come across a property that might interest a homeowner, send them a personalized email mentioning how it could affect their home value.
- Similarly, if you notice milestones or achievements on social media, sending a congratulatory message demonstrates your attention and care.
- Personalized value goes beyond automated systems, transforming your CRM into a relationship-building tool.
G - Get Systematic and Social with Your CRM
- Establish a systematic approach for consistent communication to take full advantage of your CRM system.
- Besides automated property emails, consider sending regular newsletters with community updates, featured properties, and local activities.
- Highlighting events and happenings outside of real estate helps to engage your contacts on a more personal level.
- Additionally, leverage social media platforms to connect with your contacts on a deeper level.
- You can find them on social media, follow them, and engage with their posts.
- Blending systematic and social elements makes your CRM a powerful referral machine.
E - Every Interaction Prompts the Next Conversation
- Ensure no contact falls through the cracks by promptly recording and scheduling follow-ups for every interaction.
- Each time you engage with someone, whether through calls, messages, or social media interactions, note it in your CRM system and set reminders for future conversations or actions.
- Set specific to-do tasks for each contact, such as sending an unsolicited CMA to a homeowner in six months or suggesting properties to a potential buyer in three weeks.
- By following a systematic plan, you can maintain consistent communication and maximize deal opportunities.
Effectively utilizing your CRM system as an ATM for your business requires an intentional and strategic approach. Following the ENGAGE framework, you can create a database that consistently drives deals for your real estate business. Stay proactive, organized, and engaged with your contacts to build a valuable asset that supports your business growth and success.
“Your database or CRM is actually the opportunity of a lifetime for you. It is where you have the foundation of your business. It keeps you organized and allows you to have a sellable asset when and if you decide to exit real estate. As long as it is set up properly, it is set up to be systemized.” - Jimmy Burgess.
Do you have a video or content idea perfect for your business? Share it with Jimmy! Connect with Jimmy Burgess on LinkedIn and Facebook, and his YouTube channel. If you like what you heard today, we’d love it if you’d share a rating or review and then subscribe to the podcast and tell others about it. You can find The Real Estate Sales Podcast on Apple Podcasts, Google Podcasts, Spotify, Audible, and our website, The Real Estate Sales Podcast.