Have you ever wondered where you would begin if you could start real estate all over again? Perhaps you are somewhat new to the industry and wonder how to effectively build a successful business.
I frequently spend time pondering this question and have come up with four things I would do if I could start my real estate career all over. This blog includes the very first thing on my list if I could start from scratch – mastering my CRM.
Your CRM is the lifeblood of your business. I consider a CRM the most important tool in an agent’s tool belt. It is your way to collect, organize and maximize your database. Almost every company I know, whether real estate related or not, uses a CRM.
There’s very little I hate more than leaving money on the table. Most agents leave tens of thousands of dollars on the table because prospects and leads fall through the cracks. Even worse is the fact that agents lose lots of money because past clients fall through the cracks. A good CRM, if used effectively, can minimize your risk of losing potential commissions.
So, if you are new to real estate research and select a CRM that is right for your business. You should talk to several successful agents about their likes and dislikes with their CRMs. I wouldn’t announce that I’m an agent, hold an open house or talk to anyone about real estate until I mastered my CRM. You will know you are ready when you can teach a class on how to use and manage your CRM.
If you are an experienced agent it may be time to set aside some time and select, if you don’t already have one already, and make your CRM a top priority. It’s a grind, but your business will become more efficient and you will find you won’t have to work as hard. You might even consider hiring someone to help you set it up and/or manage it. As a matter of fact this might be my first hire. Remember, our data is the most valuable commodity we have.
It’s all about running our own businesses. For more great tips to enhancing your real estate business, order my new book, 21 Habits of the Highly Successful Real Estate Entrepreneur.
By Mike Weinstein, MBA