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Your Contacts Are The Most Important Asset: Build An Effective Real Estate Database

We are in an era where the real estate business is competitive, fast, and tech-driven. The technology at your disposal is what enables you to do the most important thing, which is connect with people. And connecting to your contacts via technology is not just a power, it’s a requirement. In particular, the real estate database that you own is exceptional in regard to the reduction of operational processes, improvement of relationships with clients, and business expansion.

Real Estate Database versus Real Estate CRM: What’s the Difference?

Real estate agent database and customer relationship manager software (CRM) serves different purposes and it helps to know how to use them efficiently to save time and cultivate clientele. Real estate agent databases and real estate CRM are not the same. So, we will discuss their key features and benefits, and how an agent can efficiently use the systems to perform better in business.

What is the Meaning of a Database to a Real Estate Agent?

A real estate database is a tool that allows real estate businesses to store as well as organize and manage their client information and real estate details. It encompasses things such as available properties, clients, transactions, markets, etc. The form that real estate databases take can range from a computerized spreadsheet to computerized real estate business specific CRM’s, some made specifically for the real estate sector.

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What is the Ideal Amount of Contacts for a Database?

There is no correct number of contacts per se but there is a general principle that engaging any amount of contacts equals the number of contacts stored. While the contacts per agent as a cutoff point can vary, it is common to have a range of 300 to 500. Small teams and big brokerages tend to have larger doses with more systems for more contacts. Having a focused strategy in place alongside regularly performed Database hygiene ensures that your Database is a potent weapon in the quest for business expansion and indeed growth.

The Documentation for Real Estate

In a nutshell, A database is a crucial aspect that real estate agents ought to write a note as it is through it that they store all contact and other crucial information. However, there are several benefits that stakes a notch higher when one is hooked to a user friendly scenario powered by a Smart CRM. Some of them are:

  • Personalized follow up cross-functional communication of the clients.
  • Economises time as everything has automated systems followed by systematic data entry.
  • Advanced marketing techniques, campaigns for nurturing and generation of leads in addition to management of the deal pipeline.
  • Detailed analysis that could assist major decisions and forecasting to spot opportunities by comprehending the market and business trend.
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Best Practices to Approach Customers to Real Estate Agents

In the end, Focus and make it a habit to always adding new contacts you meet to your database and rotating it. To bring these thoughts into reality, you could create some sort of schedule that works with a combination of text, email, phone, or letters to keep in touch with them.

And that is how a majority of realtors choose to divide their customer base and don a new avatar of a marketing whiz. The diverse still centers around real estate, the specialists and the ones who can invest more texture to it.

Content will have to be created in these regular contact moments. Many agents send newsletters to their databases informing them of local happenings, interest rate changes, and other market updates or simply stop by and send a holiday or birthday card to them. Such regular contacts shall place you in their thoughts. Depending on the sophistication of your CRM, all of these sorts of communications could potentially be automated.

As noted above, an effective system will also remind you when to call someone on the list. This trigger could be time-oriented (in this case, your client relationship management system (CRM) may remind you to reach out to the client after three or six months). It could be activity-oriented, as in if a lead to your database visits your landing page or fills up a form or comments on social media.

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To learn the ins and outs of optimizing a CRM for lead management, opportunity management, lead nurturing, and lead conversion, read our full guide on how to make a CRM work.

Your Database + Dream Location

Effective real estate databases provide a great opportunity for agents, expanding their capacity to manage clients, automate tasks, and utilize analytics in their decision-making. However, collating names is just one part of the struggle — there is only so much value left in your database without great marketing.

You require a multi dimensional strategy that should definitely ensure that names in a database turn into business deals. Dream Location has the skills and knowledge that you need to penetrate your real estate database with your brand.

Dream Location is only a step away, reach out to us today to find out how!

For more information about Dream Location and to search your dream property, please visit Dream Location on Google Map. Contact us today to know more about the best real estate deals in Delhi and North India; we will connect you to the right property investment.