Hi, My name is Lori Ballen. I run a top real estate business based out of Las Vegas. I wrote this guide to share what I personally believe every real estate agent should learn before they take on the big bad world of real estate. If you would like to get to know me, I’m on Facebook. You can also call to speak with us anytime about finding a real estate team or office or about joining Keller Williams Realty. Call us at 702.604.7738.
In real estate school, they teach you how to get your real estate license. They don’t teach you how to do real estate. That, my friend, you will have to learn in the field and through great teachers, coaches, and mentors in the industry. If you are in an office like Keller Williams, your training opportunities will be ample.
I was an agent like you, just starting in 2007 (yes, as the real estate market crashed), and I did a lot of floundering out there. My husband and I started in real estate at the same time, so it was the blind leading the blind. Luckily for you, people have gone before you to blaze a trail. I’ve taken the liberty of writing down a list of things I wish I had known when starting in real estate. Enjoy! I hope this helps you in your ventures. This list is in no particular order. I added them as they came up in my mind’s dialog.
Start day one with a database.
This video is a bit old school, yet the PRINCIPLES still apply and this video is timeless for this process.
The best database is the one you will use. Many databases come with a free trial, so I’d suggest you play with a few to decide what works for you. I use Facebook as one of my CRM’s. It’s great for seeing what is happening in people’s lives. It gives me suggestions on how to communicate based on their post, and I can take it offline and send them a card, make a call, or schedule a meet-up. Some high functioning CRM’s (databases) now integrate with social media.I believe this is the trend moving into the next era of CRM’s.Every person you meet should be added to your database. You will want to know exactly how you plan to communicate with each “group” and how often. Then, you will need to hold yourself accountable for contacting them. You could simply add them to your CRM and set a timer in your phone calendar so you know when to contact them, if not already using a CRM that allows you to schedule reminders. As you get busier in your new real estate career, you will find it more challenging to do things like this.
Having the discipline to communicate with your database will be the difference between you launching a high-profit business out of the gate, rather than staying the struggling rookie.Have a basic system for rating your contacts and clients. We like to see who our top referring contacts and top clients for income are at a glance. Our system is simple. Each time someone does a real estate transaction with us, our earned commission gets added to their
score. Let’s say we close a $200,000 home with them earning a $6000 commission. They would now have a score of 6000. The next year they send us a referral and we earn another $6000, their score now becomes 12,000 (the new buyer or seller they referred gets the same score of 6000). This continues as long as they refer or do business. Then, we group our contacts by a score range so we always know which of our contacts are Platinum and VIP. We believe that Platinum and VIP contacts should be rewarded extra throughout the year. The more you communicate with your database, the better your business will be.
If you join keller Williams, you are going to have access to the latest real estate tools including a fully functioning database.
One great option for your real estate CRM is Contactually.
Contactually gives you a way to track and manage our online touches so you can continually increase your database communication.
You can have several programs (action plans) that fire emails automatically that fit that audience. We are clear that sending the right message to the right audience is key, and Contactually allows us to do that.
In addition to the preinstalled emails, we are easily able to add custom emails with easy mail merge fields like name and location to personalize each email.