THE ABCs FOR ORGANIZING YOUR REAL ESTATE DATABASE
What is the one thing all successful Real Estate businesses have in common? Yep! You got it! It’s having an organized customer relations management database.
A CRM database is absolutely pivotal to the success of any Real Estate business. Your ability to stay in touch with people most likely to buy your products and services depends on effective, razor-targeted personalized communication.
One of the key attributes of an effective real estate database is its management organization. For a Real Estate database to be of any use, it must be clearly organized and structured for strategic use.
Because, let’s be real, some clients are of more value to your real estate business than others. Your database should, therefore, be structured in a way that reflects this reality.
Below are the ABCs on how to organize your Real Estate database for more efficiency and speed.
Your A-List should contain clients with whom you have the closest relationships. These are lifelong friends and immediate family members. People in your A-list will ideally work with you in and out of season. These are the easiest to sell to. They would buy from you just so they can support you. Among the people on this list are siblings, parents, children and diehard friends.
These are people with whom you have close relationships; not the closest, but close. They include members of the extended family, mature friends, and friends from social and sports clubs. This group of people will work with you and are glad to be involved in your business. If they know you are in the real estate business, they are easy to sell to since they regard you as one of them.
This list comprises personal acquaintances such as past clients, your accountant, professional acquaintances, your lawyer, dentist, doctor, your child’s teacher, etc. These people would consider working with you if you clearly communicate your value to them. Your past clients are especially important since they have done business with you in the past; it makes sense to assume they can do business with you again.
Even if you have not seen them for a long time, there is a good chance they will do business with you again if you keep them in your regular communication loop.
Your online and social networking contacts are another key group. These include Facebook friends, internet leads, open house leads, landing page leads, etc. Unless you know these people well, it is not expedient to consider them as clients. Instead, they are just contacts; people you have online contact with.
There is a chance to upgrade this type of friends to your C-List. For instance, you can invite them for coffee or provide them with a free consultation. If you succeed, they will soon leave the contact list for your clients’ list.
This list is for your bad past clients who were a nightmare to deal with. They are the type of “friends” who cause you more harm than good. They should not be on any of your lists. Purge and blacklist them from your list and focus your time, effort and resources on your best people.
The Real Estate business is about building and maintaining relationships through effective communication, quality products, and efficient service. This is achieved through an organized CRM database that prioritizes communication with the highest value leads.
As the nerve center of your real estate business, CRM is your tool for establishing and maintaining relationships. You need to stay ‘active’ with your clients to sustain your sphere-of-influence (SOI) among them. Establishing and maintaining relationships, which is what an effective CRM does, is the bedrock of successful real estate businesses.
Now is the time to reflect, is your database organized the way it should be or is it at all?
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About the writer: Shaura Cuyan writes about all the hottest Real Estate trends and predictions for Summit VA Solutions! She has previously written for a number of freelancing gigs and writes her own blog on lifestyle and current issues. She is a Graduate of Bachelor of Arts in Communication, taking up her Masters in Development Communication.