In the real estate industry, for most agents, the greatest daily challenge is knowing who to call, when to call and why. In most cases, having people to call is not a problem. The majority of agents these days have large databases, plenty of people available to contact.
But how can you know, out of all of those contacts, who will be ready to talk to you and what you should call them about?
Every person is different, their situation will be different and what they expect from you will be ever-changing, depending on when you talk to them.
You can’t call a contact and talk to them about selling when they are currently in the market for a rental.
So, how on earth do you know?
Use the power of data
We pose this question, of course, with an answer in mind. While the database may seem to be a cause of all the calamity, it is the best tool agents have on hand to learn the intent of their prospects.
“One of your most important skills as an agent is to know how to use data in a powerful way,” said Josh Phegan, a real estate sales trainer.
Josh Phegan is an internationally renowned speaker, trainer and coach for high-performance real estate agents and agencies. He has made a career out of guiding agents towards better performance, and his message is consistent: You need to become skilled at using your data.
So, what does this mean?
Essentially, every agent has in their possession an insight-gathering machine, which, when connected with the right tools and techniques, can tell you who to call, when to call and why.
This is done through learning behavioural intent.
Learning behavioural intent
With tools like ActivePipe’s behavioural intent engine, agents can use their database to learn about their prospects, segment them into categories and gather insights as to where they may be in the buying or selling journey.
This is done either through an online survey or by identifying trends in their behaviour (how they interact with your brand online). With ActivePipe, this insight is then captured and analysed against typical behaviours in the real estate industry, to give us an indication of where your prospect may be in their journey, based on predictive analytics. Thus, giving you:
Who to call
When your database is optimised with ActivePipe, your team can start their day with a clear view of who is ready to talk to you. These contacts will be those that are seriously engaging with your information, whether it be a property or an article about how to prepare your home for sale. Segment your contacts into buyers, potential sellers, landlords and past clients each with their own communication strategy.
When to call
Segmentation can now be so advanced that contacts can be ranked as a matter of priority. Those who are most likely to convert, and those who look like they will soon be ready. This allows your team to focus on the immediate opportunities while tailoring communication to the others that may help to nudge them closer to the warmest leads.
For example, you can make your potential buyers’ life easy by tailoring alerts just to them about relevant properties listed in the areas they have shown interest in. Once you’ve seen they’ve opened your email, that’s the perfect time to pick up the phone and add a human touch.
Analysing the content that your prospect interacts with, you can learn a lot about what their current interests may be. For example, if they’re opening that property page numerous times, that’s a good indicator that they’re interested in that property. If they’re reading about how to sell a property, you can assume that they may be considering selling.
Imagine stepping into your office, opening your computer and having a clear view of who wants you to call and what to talk to them about. Other prospects can move through the funnel via email communications and you, and your sales team, can get to work closing those who are ready to close.
By David Young Choi, chief commercial officer, ActivePipe
Emma Ryan is the deputy head of editorial at Momentum Media.
Emma has worked for Momentum Media since 2015, and has since been responsible for breaking some of the biggest stories in corporate Australia, including across the legal, mortgages, real estate and wealth industries. In addition, Emma has launched several additional sub-brands and events, driven by a passion to deliver quality and timely content to audiences through multiple platforms.
Email Emma on: [email protected]