Achieve More in 2024: 10 Essential CRM Tips for Real Estate Agents

As we fly through February, the buzz within the Australian real estate sector is far more optimistic than last year. This energy signals a promising horizon, especially as we delve deeper into 2024—a year many of us anticipate to be pivotal due to the accelerating pace of Proptech innovation and the global evolution of Artificial Intelligence (AI). The potential for these advancements to enhance productivity and streamline communication is unprecedented, a theme I explored in my initial foray into the transformative power of technology within our industry.

My conversations across the field echo a shared recognition of the criticality of CRM systems, not just as a digital Rolodex but as a cornerstone for business growth. Therefore, I am compelled to delve deeper into actionable insights that can empower real estate agents to not just navigate but thrive in this era of technological evolution. Here are ten CRM tips designed to elevate your practice to new heights, focusing on leveraging technology to enhance the core of your business—Appraising, Listing, Selling, and building a robust referral network. 

I have created 10 CRM success tips that I have summarised in the article below: Yes it is surface level here, however I am going to dive into detail with most of them in a series of articles to follow. 

Tip 1: Know Your Numbers

Achieving real estate growth hinges on setting clear goals and a solid system, centred on a robust, engaged database. Success demands discipline and process commitment, with earnings tied to:

• Calls: Structured 45 min call sessions
• Connects: Having timely, trust-building conversations.
• Appraisals: Building and maintaining a pipeline to hit your numbers
• Listings: Aiming to improve commission rates, appraisal to list conversion, time on market, and leveraging buyer follow-ups for more appraisals.
• Database health - contacts with mobile and valid property address

The goal is to boost these metrics efficiently, leveraging CRM and other Proptech solutions with AI to improve quality and productivity. 

If you have not done so already, write down the GCI you would like to achieve this year and work backwards to volume of listings, appraisals and calls. 

Tip 2: Identify Your Barriers to Success

Knowing your goals and metrics is crucial, but remember, "No plan survives contact with the enemy." 

For many real estate agents, distractions, and a lack of structure and discipline are significant barriers. Success comes to those who overcome discomfort and understand the demands of high performance. 

High achievers stand out for their mindset, exceptional service, and customer focus. Often, what you choose not to do daily matters more than your actions, especially regarding outreach decisions. 

One of the most significant obstacles I have observed is call reluctance. This is still prevalent even when an agent has a smart tool like RiTA, an AI assistant that takes the guesswork out of who to call and what to say. 

The formula is clear: more calls lead to more appraisals and listings, so eliminating distractions and honing your communication skills are key. 

When questioning agents why they avoid implementing consistent call sessions I commonly hear that they:

• lack time, 
• are uncertain of what to say 
• have preconceptions about the contacts in their list. (reason not to call)

If this resonates with you then I encourage you to focus on being of service to the people in your database and call with no expectation. Keep it simple and ask questions to understand where they are at in their property journey, and provide a relevant update such as just listed or just sold activity. See if they have any questions you could assist with. This is the foundation of being the "Go To agent" in the area.

A CRM's effectiveness hinges on accurate, updated data entry. Soon, an AI solution will be able to automate this, enhancing your database value. Stay tuned for this innovation.

Tip 3: Database Segmentation

Every CRM offers unique features for database segmentation, often referred to as Categories, Groups, or Tags, depending on the platform. This segmentation is crucial for narrowing down your audience to those you intend to target with specific messages over time. 2024 marks a pivotal shift from generic bulk marketing to a strategy focused on personalised messaging, which not only resonates more with your audience but also fosters a closer relationship with them.

The main segments you need to be able to filter on are:

• Past Buyers
• Past Sellers
• Current Landlords
• Current Tenants
• Prospective Vendors
• Prospective Landlords
• Prospective Buyers
• Qualified Prospective Buyers
• + others you require

Each segment will have its own pace of communication as well as medium (phone, email, SMS) and message. I will help you break this down in a more detailed article.

The key here is for these segments to be accurate. If they are no longer a prospective vendor then there is no point including them in a campaign to convert them if they have listed with someone else. This is where a clean up is most likely required in order to correct these inaccuracies in one big hit to start fresh and focus on the real opportunities. 

Reach out if you would like to discuss cleaning up your database.

Tip 4: Data Hygiene - Address Obsession

You would have no doubt heard that you need a clean, fit database to fast track your career in real estate. However I would like to shed some light on what this actually means for an everyday agent.

The hygiene of your database will enable you to have engaging conversations with people when they need you and scale your personalised communication mentioned above. Segmentation is just part of the picture. 

Below is my definition of a clean contact record:

• First and Last Name
• Mobile
• Valid current Email
• Full residential address (validated as correct)
• Recorded call note within last 6 - 12 months
• Accurate segment / category

There is a myth that you need many thousands of people in your database to get results.  You really do not need more than 1000 - 1500 clean contacts to have a rewarding career. It also makes it easier to work with and avoid missing out on opportunities that are right under your nose.

Assuming you have 1000 contacts and the turnover rate is 7% per year in your area. That means that you already know 70 people that will sell in the next 12 months. Your prospecting system, skills and personalised marketing will determine how many of these will be won by you.

Tip 5: Logging Calls - Never Forget

Over my many years of coaching, I've observed that the greatest challenge agents face is logging phone call notes in their CRM. I admit that it takes a shift in calling habits to achieve this, however it is the one thing I suggest agents focus on improving. It is not unusual for agents to be making or taking 30+ calls a day.  Remembering every detail and promised call back becomes nearly impossible without a system.

The solution lies in harnessing your CRM's mobile app or integrating a third-party tool that facilitates calling directly from the platform and allows for immediate note-taking via voice-to-text. This practice not only enhances future interactions by ensuring more meaningful, trust-building conversations but also establishes a consistent prospecting rhythm.

Capturing every conversation in the CRM is pivotal to remembering what you spoke about last and when. Having this at your fingertips builds trust over time and enables the ability to systemise your nurturing calls. Eg. creating a list of 30 people you have not spoken to in 6 months

Tip 6: The Open for Inspection Gold Mine

The days of writing details in a clipboard while checking people into an open are well and truly over. Most agents do not have a challenge capturing the basic details, however this is one of the main ways that dirty data enters the system. 

Depending on the area, a proportion of the buyers that take the effort to see the house are property owners they may be in the market to sell at some stage. It may be a challenge to gain further details while at the open itself depending on the amount of people. But the call back session is a great opportunity to ask clever questions to gain their trust and collect their buyer requirements, property address details as well as where they are at in their journey. 

I have heard many stories where agents pick up plenty of appraisals within this process which have essentially enabled them to lift their results year on year. 

Making detailed notes and updating the requirements in the CRM can be quite a task. What if you focused on the conversation and Ai did all of the updates for you in the background? Let me know if this sparks your interest.

Tip 7: Appraisals - Nurture to Close

Making sure that all appraisals are logged in the CRM is the best way to ensure that you have the best chance of winning more listings. It will enable you to:

• Print out a chase list to take with you everywhere
• Report on accurate metrics to track performance
• Perform more regular personalised communication via phone and SMS
• Put them on an automated email list with helpful content and success stories.
• Sync your prospects with social media to follow them around on the main channels - Facebook, Insta and Google network.

You have essentially 6 months to convert an appraisal before they either list with someone or hold.

Surrounding your prospective vendors with the right communication at the right time with minimal effort can provide a significant uplift in results and put the odds in your favour. 

Tip 8: Integrations & Automations for Productivity

This topic has been central to my focus for the last eight years. While CRMs offer extensive functionality, agents often find themselves needing additional tools to boost productivity, marketing, and operations. 

These tools are known as third-party SaaS (Software as a Service) solutions, enabled through APIs (Application Programming Interface), offering specialised enhancements to CRM capabilities. These niche products are evolving quickly but come with their own costs, making it crucial to assess their real value.

As the new year begins, it's wise to inventory your Proptech investments, noting their purpose, cost and manual effort to maintain. Prioritise solutions that integrate well with your CRM and other systems to avoid the inefficiency and expense of manual data transfer. If you're using a non-integrated system and seeking better connectivity, I'm here to help. One of my key objectives is facilitating connections between Proptechs to ensure a fluid and efficient experience for agents.

Key areas I suggest you analyse include:

• Website
• Email Automation
• Digital Proposals and documents
• Ai productivity solutions
• Social Media Marketing
• VPA funding
• Reporting / Analytics
• Trust Accounting

Each of these solutions come with their own monthly fee which can certainly mount up. It is a good time now to list them all in a spreadsheet with their costs and note down what benefit you are receiving from each one and % utilisation.  If there are solutions that are underperforming due to lack of agent or admin engagement then please reach out for help or let it go. 

Tip 9: Personalised Marketing at Scale

Personalised marketing at scale is a transformative approach that leverages the power of your CRM to deliver marketing campaigns tailored to the unique needs and interests of different customer segments (outlined above). By harnessing the detailed customer data stored within your CRM, you can create highly targeted and personalised marketing messages that resonate deeply with each recipient. This method stands in stark contrast to the traditional one-size-fits-all marketing approach, which often fails to engage customers at a personal level resulting in unsubscribes and disengagement. 

The impact of personalised marketing is profound. By communicating about topics that match where they are on their property journey, you significantly increase the relevance of your communication. This heightened relevance leads to higher engagement rates, as recipients are more likely to interact with content that feels specifically designed for them. Ultimately, personalised marketing at scale not only fosters stronger relationships with your customers but also drives superior results for your agency by enhancing customer satisfaction, loyalty, and conversion rates.

I encourage you to create what is called a Customer Journey Map that details how you plan to communicate with each segment of your database over time. This can cover the main channels:

• Phone (including outsourced callers)
• Email (automated campaigns)
• SMS (one way notifications and 2 way conversations)
• Social Media (FB, Insta, Google, LinkedIn, TikTok)

Feel free to reach out for a template.

This map will be crucial for setting up campaigns in your CRM and other solutions to warm up your database and keep it warm.  The warmer your database with clean data, the more you experience a flow of regular hot opportunities.

Ultimately if you execute this well alongside everything else mentioned above then you will be called into more appraisals with less competition and your conversion rate will rapidly increase. 

Tip 10: Be Quick Off the Mark with New AI

Embrace the latest AI tools and integrations within your CRM to stay ahead of the curve. Whether it's chatbots for instant client interaction, predictive analytics for lead scoring, or automated content creation, AI can significantly enhance your efficiency and effectiveness.

In 2024, the agents who will distinguish themselves are those who leverage their CRM not just as a tool, but as a strategic asset. By embracing these tips, you position yourself to harness the full potential of your technology investments, ensuring you spend less time on administrative tasks and more on what truly matters—building relationships, closing sales, and growing your business.

This journey towards technological empowerment in real estate is not just about keeping pace; it's about setting the pace. As we continue to explore and integrate these advancements, let's remain committed to excellence, innovation, and, most importantly, to serving our clients with the utmost professionalism and care.

I trust that the insights shared here have equipped you with valuable strategies to maximise your Proptech investments. As we step into 2024, let this be the year you surge ahead, securing a more significant share of the market while others lag behind, entangled in the web of overwhelm and outdated methodologies. It's time to embrace innovation, streamline your processes, and set a new standard in the real estate industry. 

Let's make 2024 the year of breakthroughs and unparalleled success, leveraging technology to not just meet but exceed your ambitions. Forge ahead with confidence, knowing that the right tools and strategies can transform challenges into opportunities for growth and leadership in the market.

Stay tuned for further articles that explore some of the concepts above in more detail.