Real Estate is a relationship business and Agents who understand this use a CRM tool and are typically the top earners.
They know that a CRM will;
- Help them make more money
- Nurture Relationships
- Automate their marketing for consistency
- Get more referrals
Top agents say that Referral and Repeat business contribute up to 39% of their earnings so it is proven that using a CRM will help you nurture and retain relationships way beyond a single transaction sales approach.
In 2015, we started working with the leadership team at Chas Everitt to create a purpose-built CRM for the Real Estate Industry. The result was MYCE, which stands for My Customer Engagement. MYCE is all about enabling Agents to grow their database and turn a contact into a relationship, nurture those relationships on an ongoing basis to retain the customer so that you can increase your chance of getting repeat and referral business.
With technology being introduced to us daily we sometimes sit back and wait for the next disrupter that will potentially put Real Estate Agents out of a job. Well if that were the truth then why do the NAR’s stats show that 87% of buyers purchased their house using an Agent, showing an increase from 69% in 2001.
Technology is not changing how customer relationships work it is simply making it easier to do more business.
CRM’s are used to track communication with past and current customers and record your follow- ups so that you are in constant communication, then, when the opportunity arises to do business, you are already top of mind. That being said, let’s look at what this really looks like in real life.
Let’s use an example of two suburbs with 10000 homeowners
It would take an agent over a year, doing 25 calls a day, to contact each homeowner once.
This is not a sustainable way to build relationships and therefore using MYCE is essential to sustaining repeat and referral business in Real Estate.
To see the article in the Enterprise Africa Magazine. Click here
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