A PropTech software platform has claimed that agents need to do more to keep in touch with their database to increase their chances of instructions.
“In general, agents meet lots of people throughout the working week – whether they’re would-be buyers, tenants, sellers or investors, or secured through ads or lead generators,” Anton Babkov, chief executive of Rex CRM, says.
“Typically, the details of these people are added to their database but with no plan about how to stay in touch afterwards, potentially leading to many missed opportunities for agents.”
According to one PropTech provider that analyses agency databases (RiTA by AiRe), 91% of all valid database contacts haven’t been engaged in the past six months.
“While it’s manageable to stay in touch with contacts one at a time - this simply doesn’t work en masse.
So, you need to work out how to digitalise your personal engagements,” Babkov claims.
How can this be done?
Rex, a platform originating in Australia and New Zealand and now fully localised in the UK, says there are a number of ways in which this can be achieved.
“For example, anniversary emails, SMSs to celebrate major events, updates about what’s happening in the area, owner newsletters, etc. The messages to communicate are unlimited and the digital channels are continuing to grow – for instance, Facebook Messenger is now an everyday tool, along with WhatsApp, Instagram, Twitter, TikTok and LinkedIn,” Babkov adds.
“At Rex, we can deliver all this activity in pre-planned workflows called ‘Tracks’ to enhance engagement with your database and keep potential leads hot.”
He says the power of the database to connect and engage with people you know or haven’t yet met is huge, and shouldn’t be underestimated.
“It’s one of the best tools you have to grow your business, but it is all too easy to ignore and leave alone,” Babkov continues.
How can agents prospect more efficiently?
Prospecting is undoubtedly the lifeblood of any agency, with getting it right delivering agency growth, stability, team engagement and good times for all, while getting it wrong - and missing those all-important opportunities – can be painful for everyone.
It’s why Rex believes agents don’t just need an effective database of people and properties, they also need a system to provide the base for lifelong tie-ups with property owners, to prevent known contacts signing instructions with a competitor.
“This is easier said than done, though, and is something tech can really help with to avoid those awkward door knocks or cold calls,” Babkov argues. “Strong communication workflows – in our case our unique Tracks – are vitally important to ensure every contact or property in your database is receiving consistent, on-brand messages, and keeping your brand front of mind.”
He goes on: “We know to-do lists are a bit unfashionable, but they’re still highly useful and particularly important when it comes to engaging with your database. So we’ve taken the idea of a to-do list and turned it into a digital workflow called Tracks.”
Tracks are designed to be a roadmap of consistent communication (reminders, SMS, emails and letters) that keep an agency front and centre in a property owner’s consciousness, regardless of their status in the sales cycle.
“We throw down a track of carefully curated reminders that prompt you to take an action after a certain amount of time. These appear as pre-defined lists of follow up activities, which can be quickly attached to a property, listing or contact record,” Babkov concludes.
Tracks in motion
LJ Hooker Property Centre, the largest LJ Hooker company in the Australian giant’s 700 office network, which sells more Brisbane property than any other agency, says ‘the results are there’ when it comes to Tracks.
The company was previously losing the majority of its appraisals, and this wasn’t to do with too high commission or bad marketing, it was to do with not staying in touch with their contacts.
As a result, they reviewed their process and implemented an Appraisal Track that allowed them to stay in touch with their growing database.
“I created that appraisal track to stay in touch with our clients until they are ready to sell…I had one this week…the agent got booked in and listed the property,” Graeme Carmichael, Sales Manager for Agent Growth at LJ Hooker Property Centre, commented.
You can download Rex’s completely free top 9 prospecting workflows ebook here, where agents can learn about what a track is, why it’s important, and the power of database prospecting.
