DATA IN­SIGHTS

With 2018 well un­der way and the sum­mer hol­i­days a fond mem­ory, it’s time to re­fo­cus your at­ten­tion on your busi­ness. What can you do to­day, this week and this month to max­imise your re­sults? Ed­die Cetin looks at five ways to use tech­nol­ogy paired with pr

Elite Agent - - CONTENTS - Ed­die Cetin

Test new tech on a seg­ment of your data­base who you know will ap­pre­ci­ate the com­mu­ni­ca­tion.

It’s all too easy to fall back on prospecting tech­niques and com­mu­ni­ca­tion habits that served you in the past. What worked yes­ter­day won’t nec­es­sar­ily work to­mor­row. My ad­vice is to stay ahead of the bell-curve and use tech­nol­ogy to am­plify your in­flu­ence.

1 AN­NIVER­SARY FOL­LOW-UP

This sounds like an ob­vi­ous prospecting call-to-ac­tion, but you’d be sur­prised how few agents con­duct an­niver­sary fol­low-ups in a con­sis­tent man­ner. Rather than try­ing to book an ap­praisal with an ex­ist­ing client, why not send ven­dors and land­lords a gen­eral an­nual ap­praisal via email? If re­quired, you can then fol­low up with a more ac­cu­rate ap­praisal. This process en­sures you stay top-of-mind with your clients; peo­ple al­ways love to know what their in­vest­ments are worth and how the mar­ket has moved. Per­son­alise your ap­praisals by tar­get­ing clients in ar­eas with re­cent sales – this is an ideal op­por­tu­nity to show­case your lo­cal knowl­edge. En­sure you fac­tor in any ren­o­va­tions or im­prove­ments they might have made by prof­fer­ing a cur­rent mar­ket es­ti­mate, an es­ti­mate of a high-end prop­erty in the area, a mid-range prop­erty in the area and a low-end prop­erty in the area. Of­ten, me­dian sales sta­tis­tics on na­tional real es­tate por­tals are void of lo­cal mar­ket fluc­tu­a­tion con­text, which im­pacts on ap­praisal val­ues. Don’t ne­glect to in­clude rental ap­praisal and in­vest­ment prop­erty-spe­cific in­for­ma­tion – this data is use­ful for both land­lords and ven­dors.

2 LOVE YOUR LAND­LORDS

In too many real es­tate agen­cies across Aus­tralia, sales and rental teams sim­ply aren’t in reg­u­lar com­mu­ni­ca­tion about their mu­tual clients. This can lead to em­bar­rass­ing gaffes, and doesn’t leave a good im­pres­sion of a com­pe­tent team. On­go­ing land­lord up­dates are crit­i­cal; not only do up­dates keep land­lords in the loop with their mar­ket­place, your agency also re­mains top of mind should they con­sider sell­ing. Land­lord up­dates are an op­por­tu­nity to re­in­force your brand – and to of­fer listings for sale di­rectly to your land­lords, help­ing you con­tinue your re­la­tion­ship and grow your rent roll. Con­sider com­mu­ni­cat­ing with ten­ants reg­u­larly too: they could well be your next prospec­tive buyer or land­lord. Touch­ing base with ten­ants and pro­vid­ing great cus­tomer ser­vice may also help you re­alise off-mar­ket sales op­por­tu­ni­ties when they arise.

3 SHINY NEW TECH

In­vest wisely in tech­nol­ogy that is go­ing to make a dif­fer­ence to your busi­ness’ bot­tom line. Don’t make a de­ci­sion based on mar­ket­ing hype alone; see the proof. There are many start-ups de­vel­op­ing real es­tate-cen­tric tech prod­ucts, with a va­ri­ety of very in­ter­est­ing pro­to­types on of­fer. It’s im­por­tant to con­sider the depth of the busi­ness and its re­sources to en­sure long-term vi­a­bil­ity for the tech­nol­ogy. Be dis­cern­ing with your tech­nol­ogy in­vest­ments – what might work for one agency may not work for your own. Be­ing in­no­va­tive is clearly the name of the game, but re­mem­ber: cul­ti­vat­ing gen­uine re­la­tion­ships is where true gold lies. Over­do­ing com­mu­ni­ca­tions can work against you, so don’t throw so­cial me­dia, SMS, e-mar­ket­ing and pre­dic­tive track­ing at your au­di­ence in one fell swoop! Test new tech on a seg­ment of your data­base who you know will ap­pre­ci­ate the com­mu­ni­ca­tion – don’t ex­pose your whole data­base to tech­nol­ogy fa­tigue.

4 IN­VEST IN YOUR PEO­PLE

Your peo­ple are your agency’s great­est as­sets. Having

an en­thu­si­as­tic team of es­tate agents who know how to use the tools you’ve pro­vided them with is the very best as­set of all. Make sure you in­vest in reg­u­lar train­ing for new and ex­ist­ing staff. This could be by up­skilling them on your CRM, pro­fes­sional devel­op­ment coach­ing, or role­play­ing in­ten­sives. Bring your team to­gether to learn new ways of do­ing tasks they have done for­ever – that’s the only way to stay cur­rent in a quickly shift­ing real es­tate mar­ket. En­cour­age your staff to learn from one an­other, and em­power them to un­der­stand the new tools nec­es­sary for their trade. Learn­ing is an im­por­tant part of ev­ery­one’s pro­fes­sional devel­op­ment plan, and is crit­i­cal to achiev­ing tar­gets.

5 COM­MIT TO A CHANGE PLAN

When you com­mit to us­ing mar­ket-lead­ing tech­nol­ogy, you si­mul­ta­ne­ously need to in­vest in a plan to drive its adop­tion across your busi­ness. Come up with clever, fun ways to ex­cite your staff about im­pend­ing changes, show them why tech­nol­ogy con­trib­utes to their suc­cess and re­ward them for their ef­forts. Chang­ing habits is dif­fi­cult for many peo­ple, so make sure im­ple­ment­ing your change plan is a pri­or­ity. Con­sider choos­ing one topic each month to up­skill your team on. When adopt­ing new tech­nol­ogy into your busi­ness, en­sure roles of re­spon­si­bil­ity are clear, pro­cesses are in place and sys­tems have been set up cor­rectly to re­flect your way of do­ing busi­ness. You can’t pur­chase a tech­nol­ogy so­lu­tion and ex­pect it to work for you without a cor­re­spond­ing on­go­ing com­mit­ment to driv­ing change. •

Ed­die Cetin is the founder of Agent­box. For more in­for­ma­tion visit agent­box.com.au.

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