5 Real Estate CRM Success Formulas To Close More Deals With Colin Burton
We interview CRM expert, Colin Burton, to examine what he sees as the top real estate sales tips for converting more leads. His 5 formulas are great!
Today’s “In The Lead” show goes in depth with a featured guest from Top Producer. We look at what Colin Burton has seen from helping hundreds of agents get a better grasps on their real estate crms.
Let’s face it, managing any number of leads is completely unrealistic without a CRM.
During this interview we look at the following questions:
The answers should help you understand the difference between those top producers and where you are today.
The number one determining factor when it comes to real estate sales tips is maintaining the same level of followup with all of your leads.
There is always this struggle between automation and personalization. And as agents grow their businesses, it can be easy to not be as personalized in your followup systems. Colin points out that you can use automation with newer leads in the form of text responses and follow ups. But that with older leads, you really want to focus on automating a reminder to send messages. And not automating the followup message itself.
The key here is having systems in place.
Are you going to consistently followup with all new leads and old leads everyday? The surprising fact is that most leads don’t even get followed up with!
Do you have systems that reliably keep in touch with leads that are now 6 months old? What about leads that are 10 years old?
Being successful in real estate ultimately boils down to developing systems that scale these 1-to-1 relationships.
When it comes to CRMs, the biggest mistake agents make is investing in technology without knowing the specific problem they are trying to solve.
Technology is fantastic. But it will not miraculously get you in the door, negotiate, or close deals for you.
You need to know how you want your database to work. And then start asking companies, like Top Producer, if they can do what you need them to do.
This can be done with automation. But:
You need to use finesse when it comes to automating your lead follow up.
Let’s say you get a lead from Realtor.com and another lead from your best friend.
They should not be followed up with in the same way. Automation can kill leads if you don’t use finesse when setting it up.
The flip side of that is how profitable real estate CRM automation can be when you use it correctly. You should use task reminder automation for contacts that demand personalization and full-on automation for messages that aren’t as personalized.
Finally, be sure to be consistent on a daily basis. You should break things down into bite-sized pieces.
What would you rather do?
5 follow-ups a day, or 450 at the end of each quarter.
Well at least 25% – 50% of the methods we currently have for communication simply didn’t exist 10 years ago. Now we’re in a situation where it’s so easy to send a message to someone. It’s just so easy to reach out to them in over 5 different ways, really.
You have texting, email, phone calls, and tons of social media platforms.
You need to be mindful of how you’re message is being “decoded” by the recipient.
There’s a lot more data—makes it difficult to determine which is actionable and
One of the perks is that an individual agent now has a lot more visibility and tracking. You can see when people are opening emails and clicking on them. You can also monitor this information on social media.
For example, a simple tool like Hubspot’s SideKick will let you know the moment a prospect ‘raises their hand’ by clicking a link.
#1 Make Alliances: For example- find a mortgage broker who is also in their first year. It’s not that rare to see lenders split the cost of leads, and you can position the value of a Mortgage Broker and Realtor who can streamline some things for the client during this process.
#2 Become An Expert At 2 Lead Gen Tactics: You should be familiar with all the different options, but your business plan should have led you to a logical reason as to why you chose one method of generating business over the other. This could be a local market adaptation or just differing styles. Here’s a list of tips to get familiar with the various tactics.
#3 Start Systemizing Human Followup: You should begin to understand how to maintain the same level of human followup and personalization despite having a growing list of prospects at varying stages in their cycle. This is a very hard challenge. But one you must master. Map out your style and have a system remind you when you need to sit down and figure out how to REALLY connect with your prospects.
Outliers by Malcom Gladwell:
One argument that stood out was “the biggest misconception about success is that we do it solely on our smarts, ambition, hustle and hard work.”
The book goes on to “show that there are a lot more variables involved in an individual’s success.” I think you have to be good at the right mix things.
“Consistency makes commission checks happen.”
Are you being consistent with your marketing? What about your followup?
The biggest difference between those that stay in real estate and those that fail is consistency. You need to learn tactics and strategies that generate business for you. And then execute like mad on those tactics.#RealEstate Quote Of The Day: Consistency makes commission checks happen! Click To Tweet
Did you learn something you can implement in your business today? If so, let us know in the comment section below. And be sure to share this around your social media circles!
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