Online platforms have become a critical component of all real estate agencies. Whether you’re a small office or major group, this is what you need to know to make your system work for you.
Box+Dice business development manager Sam Upleger told REB that while many real estate businesses use CRM platforms to manage their databases, few have a comprehensive understanding of what the technology can actually do for their bottom line.
“The efficient ones are the ones that have taken time to understand it and get as much as they possibly can out of it,” Mr Upleger said.
“The most successful ones actually appoint internal resources to run the platform within the business,” he said.
Box+Dice partnered with REB for the Top 50 Sales Offices 2016. It also works with many successful real estate groups.
According to Mr Upleger, what sets industry leaders apart is the decision to allocate internal resources to managing the CRM.
“They're constantly investing in ongoing knowledge, induction training for new staff, and not just leaving it there, but having ongoing training,” he said.
“A number of our larger clients have quarterly training sessions for anybody new or anybody who wants to brush up their skills.”
On the flip side, inefficient businesses are prone to a number of common errors, such as failing to promote the use of technology within the business.
While some real estate agents believe simply implementing a new platform will make a difference, this is incorrect, Mr Upleger said.
“They don't acknowledge the importance of that technology, and especially, we're here in 2016, they don't value the data and don't know how to really harness quality customer data,” he said.
“They focus on today, and closing a deal, and not really on building sustainable client relationships which is the core to being a successful real estate agent.”
Many agents are fantastic at building relationships but not so good at maintaining them, which is where a platform like Box+Dice can really make a big difference.
Anyone reading this who may be guilty of not harnessing the full potential of their CRM system should remember that driving efficiency through change is a function of leadership.
“In multi-office networks for instance, you might have one office using it better than another or to a completely different extent, and then even breaking that down further, some offices might only have one or two out of five or six agents using it,” Mr Upleger said.
“They might use it really well but because their colleagues don't use it to that same extent, they're not getting the full benefit of it so it's a bit of a team effort.”
Box+Dice specialises in top performers, one of the primary drivers behind the group’s decision to partner with the REB for the Top 50 Sales Offices.
“We had a look at our clients and realised that we do attract really successful businesses that value building quality, sustainable relationships with their customers,” Mr Upleger said.
“Technology allows an agent to better manage their ability to maintain a relationship with their clients. It helps them achieve more in a lot less time and can give them a clearer view of their business overall.”
[Related: Top 50 Sales Offices revealed]