4 Data-Backed Ways To Be a Successful Real Estate Agent in 2021
While there’s no such thing as “set it and forget it” when it comes to real estate success, there are some proven ways you can leverage technology and teams of experts to help you make sure your success is growing, systemized, and sustainable. That means when you’re growing and goal-hitting, you’re also scaling, future-proofing and making sure you have the systems in place to keep up and keep reaching higher. So, How do you make sure that happens? We rounded up the top 4 data-backed and top-producer approved strategies, and the systems and services they swear by.
Make your data work for you
Simon Sinek once said, “The great leaders are not the smartest; they are the ones who admit how much they don’t know.” It’s a lesson so many of us have had to learn this year, and yet, it’s an idea that goes against the common misconception of what leadership looks like—a lone wolf, bearing the burden on their own.
Many real estate professionals have trouble applying this knowledge to how they run their teams and offices. Many have the real estate expertise, they know exactly how to cultivate relationships, leverage market data, and get folks to the closing table, but they neglect to run their operation like a true business, leveraging systems and metrics to create a foundation for success, and a plan that scales.
It’s crucial to arm yourself with the tools that’ll both gather that data (lead behavior, ad performance, communication metrics), and translate it into insights and reports that work for you. This is how you optimize your business and systemize your success. And this is true tech partnership. A predictive CRM that prioritizes your work and makes it seamless to launch campaigns and understand performance.
For example, there are several data points and KPIs that’ll determine if your conversion rates will be on point. In BoomTown’s CRM, the Vitals Dashboard is one of our most-used features. Like a report card for a team or brokerage, it gives brokers instant insight into agents’ performance and benchmarks it against other users with similar team size and tenure.
The report measures: Active Opportunities, Under Contract opportunities, Closed opportunities, New Leads, New Leads that have been contacted, New Leads that have not been contacted, and Response times.
An agent leaderboard, and an agent-specific version lets agents track and monitor their own performance, and brokers can take action in real-time to reassign leads, send a bulk text or email, or send a reminder to the agent. When the data is easy to digest, it’s easy to course-correct and make sure you’re optimized for success.
Engage, Re-engage, and build better relationships, automatically
Build relationships, showcase your market expertise, and nurture through to conversion with automated behavior tracking, advertising, and communication tools.
A predictive CRM with automated marketing that’s integrated with your website means your prospects can be sorted, tagged, and put on effective drip campaigns and e-Alerts to keep them engaged, without any manual follow-up from agents.
Leveraging social media advertising, like BoomTown’s Marketing Central ad builder, to drive more engagement with your database, generate more leads for listings, and show real-time value to seller clients. (Check out what Inman News had to say about BoomTown’s Marketing Central!)
It’s high-tech, but also high-touch, so your prospects feel like they’re getting a dedicated one-on-one service, but you’re able to scale that exceptional experience.
Let the data deliver top opportunities and actionable insights
How are you working your database? Forcing yourself to cold call X number of leads a day? Yikes. That’s no fun, and 97% of cold calls fail. Your database is a gold mine, though, so let’s work it a little smarter.
Your CRM should be tracking every action a lead takes on your site, and surfacing insights your agents can act on like “back on site after a month” or “just favorited a property.” Even “currently on site.” These alerts let you know they’re ready, and they’re active, and you have a reason to reach out.
It’s critical to have information about your leads at your fingertips. This means utilizing powerful software and the latest technology to make your prospecting So. Much. More. Effective. In BoomTown’s CRM, you can take your database, and sift and sort into different buckets of leads with similar interests. Then you can easily filter and segment them with your marketing efforts. By compiling a list of who the leads are, what areas/price points they’re looking at, and their timeline, you immediately have a “warm” list of leads to call. You know where to start the conversation and your sales effectiveness rises. Talk about productivity!
This means you can easily create tailored messages to large groups of leads for smarter outreach.
Prioritize dollar-productive activities, and outsource to the experts
Hitting that GCI goal means taking control of your time. It’s easy to get caught in the whirlwind, but real results come from working on your business instead of in it. On average, BoomTown customers report that they are empowered to spend 50% more time on dollar-productive activities. Hot leads are prioritized, systems are optimized for accountability, and agents are freed up from admin work.
There’s a proven formula for success: prioritizing your time based on your most dollar-productive activities, leveraging the value of your database, and diversifying and growing your lead sources. Most real estate professionals are experts in their field, but that doesn’t mean they’re experts at digital marketing, or necessarily need to flex their expertise to nurture buyers and sellers who are far-out in the buying or selling process.
So, back to that formula, leverage services that can help you prioritize your time. BoomTown’s lead concierge services and digital marketing team have you covered when it comes to expertly targeting your ideal client online, getting them interested in your brand and business, and then our lead response team will respond to them and nurture them, 24/7, in as little as 90 seconds, on behalf of you. What’s better? You still stay in the driver’s seat. Get in-depth reporting on your ad spend and reach, and watch conversations in real-time from the CRM and app (and jump in at any point). It’s the best of both worlds.
In over a decade of driving real estate success, we’ve developed a solution to solve every business challenge you’re facing, and create real results that take you higher. From accountability and reporting, to scaling your service offering, and everything in between, we’ve got you covered. See what your business could be with BoomTown.
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