Real Estate Magazine - Highlands Sotheby's International Realty - July 2021

Page 68

TRENDS & ISSUES having data and metrics in place, you’re always playing the guessing game. Without tracking key metrics, you’re essentially buying a lottery ticket and hoping for a winner. Your CRM will allow you to answer questions such as, “What’s my ROI from each of my lead sources?” “What percentage of the people I meet do I sell a home to?” “How many seller leads do I get that I actually sell their listing?”

The Most Important Tech for a REALTOR® Is Their CRM Commentary by Dave Karoly

I

n this business, there’s a lot of talk about the importance of a Customer Relationship Management system (CRM), but more often than not, we wait too long to decide which one to use— or worse, we have one that we don’t use to its full potential.

The longer you wait, the more likely you are to experience one (or both) of the following. First, you get busy showing homes, prospecting your neighborhood and attending training sessions, which means that working on your database gets booted from your task list. Second, folks within your sphere buy or sell a home and don’t use you. You want to blame them, but ultimately, you only have yourself to blame. They weren’t on your radar, so why would you be on theirs? If you began putting just five people’s names on a spreadsheet every single day, you’d have over 1,000 contacts by the end of the year— even if you skipped the weekends.

66 July 2021 RISMedia’s REAL ESTATE

Don’t overlook these people. They are the folks you know or interact with on a daily basis. Once you have a CRM, be sure to track every lead, every client, every property. It will make prospecting leads easier, track key dates throughout the transaction and set the appropriate follow up to keep in touch with the client after the sale. Ultimately, the time you spend setting up your CRM will be paid back to you many times over. When talking with top-performing agents or teams, more often than not, they will speak to the importance of having a CRM. In fact, Management Consultant Peter Drucker said: “If you can’t measure it, you can’t improve it.” Without

As the Pareto principle tells us, 80% of your referrals will come from 20% of your past clients. Properly using your CRM will allow you to see where deals are falling off along the way. What percentage of buyers who contact you do you speak with on the phone? What tools does your CRM offer, or allow you to partner with, to help you increase those numbers? Once the sale is closed, the CRM’s work is not complete. This is the point at which it can ensure that the client will use you again. As the Pareto principle tells us, 80% of your referrals will come from 20% of your past clients. Keeping track of this data will allow you to focus your resources and time to maximize this source of business. RE Dave Karoly is vice president of sales at Lamacchia Realty and REAL Training and Systems, and has trained thousands of agents on how to grow their business. To learn more about Lamacchia Realty, visit www.LamacchiaRealty.com.


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Articles inside

RE: Real Estate—The REACH

3min
pages 106-108

Service Profiles

43min
pages 94-105

Verl Workman – Hey, Alexa

2min
pages 92-93

Power Team Profile – High

4min
pages 90-91

Christian Barnes, Better Homes

11min
pages 86-89

Kurt Schuler, Schuler Bauer Real Estate ERA Powered

2min
page 85

Verl Workman – Empower

2min
page 82

Matt Farrell, Corcoran Urban Real Estate

2min
page 83

Cameron Keegan, RE/MAX

2min
page 84

Employment Trends Index Increases in May

2min
page 81

Realtor.com®: Listings Down Inventory Up

1min
pages 78-80

Laura Croll – Helping, Having Fun, Growing and Making Money

2min
page 77

Dan Steward – New

2min
page 76

Frank Chimento – Was Real

2min
pages 74-75

Ashley Bowers – Expect More

2min
page 72

Allen Alishahi – Consumers Are

2min
page 73

Michael Minard – Tech

2min
page 71

Olivia Mariani – How to

2min
pages 69-70

Dave Karoly – The Most

2min
page 68

Adam Long – Don’t Skip the Home Inspection!

2min
page 67

Sue Yannaccone – Defining

2min
page 66

Daniel Ramsey – The Current

2min
page 65

Customizing the Client Experience From Beginning to End

4min
pages 62-64

Rebound in Sight for Urban Rental Market, Experts Say

4min
pages 56-57

Powerful Tech Tools That Give REALTORS® a Competitive Edge

3min
pages 54-55

Transcending the Barriers Between Real Estate and Mortgage

4min
pages 52-53

Real Estate Webmasters

3min
pages 44-45

Reshaping Franchising for the Future

13min
pages 46-51

HSASM Home Warranty

3min
pages 41-43

Terri Murphy – Are You

2min
page 34

Verl Workman – Are You

2min
pages 35-36

The Experts at McKissock

2min
pages 37-38

Cinch Home Services: Going

3min
page 39

Homes.com: A Support System for Success

2min
page 40

Sherri Johnson – How to

2min
page 32

Darryl Davis – When the Listing Appointment Doesn’t Go Your Way

2min
page 33

Buffini & Company – Building

2min
page 31

Women in Real Estate: Christy

2min
pages 16-18

Great Spaces

1min
pages 21-22

Policy & Legal Matters

2min
page 23

REBAC Report: Boosting Your Agents’ Success With Buyers

3min
pages 24-27

From the Publisher

4min
pages 9-12

Power Broker Perspectives

3min
pages 28-30

Marketwatch

1min
page 13

NAR Power Broker Roundtable

3min
pages 14-15
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