The role of the estate agent has changed, permanently. More than being able negotiators, real estate agents are being called upon to step into the role of the entrepreneur, with an identity marketing cult to match.
As public ownership data becoming increasingly difficult to obtain, agents are being compelled to consider new ways to connect with their core market via digital marketing, guerrilla tactics, power databasing, eBooks and YouTube. And that’s before you get to PR and print media!
Even in this new world of real estate, success leaves clues. Did you know that Australia’s top 100 agents currently have an average of two support staff each? Greatness is rarely achieved on one’s own, with today’s best agents requiring significant support to achieve market dominance. It’s called ‘playing total real estate’, where the roles of marketing visionary, relentless negotiator, creative prospector and buyer concierge come together across a team.
Real estate business units (occasionally called ‘pods’) are enterprises within an agency, typically consisting of the sales agent, their buyer agent, and an administrator. To be amongst Australia’s best agents, each of these roles require the full attention of a dedicated expert individual. Your database should empower pod to new heights, making their daily activities more efficient and allowing you to list more business.
Within a business unit, the agent should be free to spend all their time prospecting, listing and communicating with vendors. The buyer’s agent should focus on connecting available stock with purchasers (both on and off-market), whilst the administrator should execute the agent’s necessary paperwork, client gifting regime and personal marketing strategy.
The fuel that powers a dominant real estate business unit comes in the shape of data – without accurate lists of clients to prospect, buyers to call and actions to take, a business unit is without focus. Having a database which caters to the unique functionalities of a pod is key here, freeing you from the time-burgling task of gathering and distributing data, double-handling and going outside your CRM for systems and processes.
With each member of your business unit using your CRM, you’ll be able to maintain a clean database with concise notes about each pod member’s interactions. As a buyer agent and administrator grow into their roles, a listing agent’s output is amplified – but without the grinding workload which slows many individual down when they win multiple listings. Imagine being able to prospect and list to your heart’s content, knowing you won’t be drowned by data-entry, detailed buyer work and marketing deliberations. Supported by your pod and your database, you’ll no longer be victim to the cycles of real estate ‘feast and famine’ which comes from having too much work on, and too little assistance. Running a business within a business means monitoring performance too – which is where your CRM’s team performance reports come to the fore.
Don’t be intimidated by the changing face and structure of our industry: this shift in expectation doesn’t mean listing agents should drive themselves into the ground by trying to be prospectors, marketers, administrators and buyer agents simultaneously. Think back to the great operators who manage to take month-long holidays without losing market share. They’re leveraging their personal time by engaging a trusted team to run their business, empowered by a CRM engineered to assist their team manage data and activities on a daily basis.
Are you ready to join Australia’s top 100 agents and play total real estate?