Facebook
X
Pinterest
Copy Link
Gaining a Competitive Advantage with a Modern Real Estate CRM
By Maddie Jostol, Senior Marketing Manager
Evaluating a real estate CRM in today’s noisy world is overwhelming. What will actually make a difference in your business? What should brokerages look for in a real estate CRM that will truly give you a competitive advantage?
It can be tough to know what features to prioritize, how much you should be investing, and what questions to ask. It’s important to go in knowing what pain points you’re trying to solve for and what your priorities are. There are a lot of solutions out there, which leaves you weeding through everything to pick a system and provider that will not only fill your current needs, but also grow with your brokerage in the future. Trust us, though… when you pick a good one, it will all be worth it.
The truth is, when you onboard a truly innovative, well-designed real estate CRM that fits your business model, it can make an amazing impact your bottom line.
Here are a few things that a good, modern real estate CRM should have that will undoubtedly enable growth in your business:
A system that understands your business.
First of all, you need a CRM that works for real estate. The sales process in real estate is drastically different from that of other industries. The way in which agents work leads, how marketing is done, the data necessary to complete a transaction, and the way goals are tracked are all unique to real estate. Choose a system that aligns with real estate transactions and compliments the way you do business.
Automation that improves productivity.
Any modern CRM should be built with automation in mind. Automation enables your agents to do more, with less time. It means they’ll be able to rely on technology to do the mundane, repetitive tasks so that they can focus on what they do best: building relationships.
Look for a system with marketing automation, such as email marketing that automates touch points with an agents’ sphere. MoxiEngage, for example, has Neighborhood News, which sends out personalized market snapshots to an agents’ sphere every month without them lifting a finger.
Event better, look for integrated predictive analytics that help your agents stay ahead of the game. Agents are attempting to stay in touch with hundreds of people in their sphere. Imagine being able to provide them with a system that not only automates many of those touch points, but also leverages data to notify them when someone in their sphere is likely to list.
Integrations that matter.
Speaking of automation, data integration is key to having a CRM that truly drives your business forward. Integration with your MLS should be a non-negotiable. Agents shouldn’t need to waste time on repetitive data entry, and your property data should always be up-to-date and accurate. When evaluating a real estate CRM, look for integrations that increase agent productivity, in turn, increasing your brokerage’s profitability.
Lead routing should be a given. Integrated websites are best, because they route leads generated on your brokerage or agent websites directly into an agent’s CRM. On top of that, any lead providers (Buyside, Offrs, and Flipt are a few of our partners, for example) should be integrated so that those leads are routed into the CRM for easy follow-up.
Integration with your digital transaction management provider is also incredibly valuable, as it streamlines the entire transaction process for the agent. For example, agents can launch a DocuSign Transaction Room directly from their MoxiEngage account. The more we can simplify an agent’s workflow through valuable integrations, the better.
Reporting that promotes business growth.
At the end of the day, agents need to know: where does my business stand? Am I hitting my targets? Am I behind on my annual goal? Automated reporting enables and agent to always know the status of their business. Goal setting is step one, but agents also need the ability to track progress towards that goal.
As an example, since MoxiEngage is integrated with your MLS, an agent’s goals dashboard is automatically updated with each completed transaction, which enables them to see a realistic view of where their business stands without having to manually input any data.
A future of innovation.
It’s in your best interest as a brokerage to seek out a CRM that values innovation. The real estate industry is in an era of change and disruption, which means that in order to gain that competitive advantage you’re looking for, you’ll need an innovative technology platform behind that CRM.
Of course, we’re a bit biased since we’ve seen our clients drastically grow their businesses with MoxiEngage – the average agent with a MoxiEngage license sees 54% more transactions than those without, and the agents who fully utilize it see 117% more transactions over their peers without it. You can see why we’re biased. Regardless of the technology provider you choose to partner with, be sure to check these boxes when evaluating a new CRM. Choose a system that not only fits your business now but will grow with you.
If you’re in the process of evaluating a CRM for your brokerage and would like to get advice from one of our experts, reach out to us here.
Your 2019 Real Estate Resolution: Get Your Head in the Cloud
By Kylah Searing, Director of MoxiCloud Partnerships & Integrations
It’s common to hear someone say, “get your head out of the clouds,” but here at MoxiWorks, we want everyone to get their heads IN the cloud! We’re not daydreaming anymore, the MoxiCloud is the real deal and I’m sitting on cloud nine reflecting on all that’s been accomplished and what’s in store for 2019. Too much cloud? Oh, just you wait!
When we started our MoxiCloud Partner Program a few years ago, we knew there was great potential and worked hard to find partners willing to join that shared our common vision. That vision? To create a ubiquitous data platform across all of real estate.
Being a software company, we first handedly know the pain points of onboarding a client. Not only do we need a lot of data just related to the brokerage, but we also need their MLS data. Anyone who’s had to secure MLS data for their application understands the complexity there. Just jumping through the hoops to secure it is one thing, but then digesting the different formats is a whole other ball game. So, why not take the pain out of all of that? The MoxiCloud was designed to help both our brokerages and vendors!
Why life is better in the MoxiCloud
Brokerages don’t need to spend time creating feeds or files of agent roster data or gather logos/colors, etc. They just point people to the MoxiCloud! The MoxiCloud is predictable which makes it attractive to the vendors. No more dealing with MLS data or brokerage data in different formats… it’s consistent and streamlines everything. For instance, one specific partner would typically estimate onboarding around three months, but after integrating with the MoxiCloud was able to shorten it to two weeks and even created hundreds of demo agent accounts in 24 hours to run a pilot! That is the power of the MoxiCloud.
Over the last few years of running this program we have acquired 40 partners who are actively leveraging the MoxiCloud in some form or fashion! I’m sure you’re saying to yourself, “40? That’s it? But others are claiming 200+ integrations!” Right, but one-way “integrations” at the agent level don’t count in our book! Are those “integrations” able to reduce onboarding time, get vendors to revenue quicker, access brokerage logos and colors, access brokerage listings, agent’s consumer data, and transaction data? I think not! Most other API’s out there can provide one data set, which is great, but it still requires someone to go out and find all the other necessary data. It’s also doing next to nothing to enrich that data and make it available to others.
Over 50% of our partners are actively enriching the MoxiCloud by passing data into it. By doing this, the data is automatically available to everyone else who is using the data. Imagine this: An agent who is using MoxiEngage CRM gets a new lead from their agent website (hosted by one of our many amazing web partners). It’s automatically populated into the MoxiCloud and into their MoxiEngage CRM account. This lead turns into a new listing and because their transaction management provider and marketing provides are also in the MoxiCloud can automatically generate a transaction room and send the just listed marketing (and the agent didn’t have to do anything). When the listing is pending the client automatically receives an invite to a moving concierge service and signs up. The information on that sign up is populated into MoxiEngage automatically so the agent can be in the know. After closing the transaction, the agent has quick access to gifting services to send a thank you – phew! Get the picture? With everyone contributing to the cloud we can save the agent so much time by reducing all the redundant data entry they are used to.
The value of the MoxiCloud for brokerages
It’s not just the vendors who value in this equation. Many of our brokerage clients are using the MoxiCloud themselves to access their own data in a more streamlined way and even using it for custom development and streamlining their own processes to help their agents. Woah, right?
If you thought this was all a ploy to get people to use our Moxi products (MoxiEngage, MoxiPresent, etc.) you couldn’t be more wrong. We believe our products can stand on their own merit, but we also know they’re stronger with the MoxiCloud and we want others to be stronger with the MoxiCloud too (yes, we want others to succeed). Last year we worked with two of our partners who needed to share data. We built the attributes necessary so one partner could enrich the cloud with their data and the other partner could access it. None of it is being leveraged by any Moxi products… it’s just data sharing in the cloud!
Looking to the future: Your 2019 Real Estate Resolution
As we hit the ground running in 2019, I do hope everyone will get their heads in the cloud and share in our vision. The MoxiCloud and our partner program have come so far in the last few years and I love that we have so much support from all our brokerages and partners! If you’ve stayed with me this far and your brain has exploded into a mushroom cloud from all this cloud talk and you’re thinking “I need to get my head in that MoxiCloud,” don’t hesitate to reach out! You can contact me here.
5 of Our Favorite Real Estate Podcasts
By Jessie Trapp, Marketing Coordinator
With the busy bee lifestyle that comes along with being a real estate agent, it can be tricky to find the time to sit down and soak in the wisdom of the industry’s top producers. The nature of your gig makes it even more essential that your educational content can be absorbed while on-the-go.
Enter: real estate podcasts.
We at MoxiWorks recently hopped on the real estate podcast bandwagon and started producing our own podcast, REAL with MoxiWorks. Throughout the process of developing the show, we came across several industry-related podcasts that are absolutely worth checking out if you, too, happen to be a fellow real estate diehard.
Whether you’re an agent, broker, manager, or even a home buyer/seller, here are a few of the awesome real estate podcasts that we recommend giving a listen:
1. Bigger Pockets Podcast
Need a podcast that will make running an 8k go by in no-time? If you’re interested in real estate investing and have the time to commit to tune in from start-to-finish, this is a great show for you. Not only are the hosts extremely upbeat and entertaining, but most of the episodes include over an hour of engaging and informative content.
2. Real Estate Rockstars
If you’re looking for a podcast that you can make a part of your daily routine – look no further. Pat Hiban, host of the 3-day-a-week Real Estate Rockstar podcast is not only a billion-dollar agent himself, but makes it a point to interview the best of the best in the industry to get their juiciest tips and tricks for success.
3. Kevin & Fred’s Next Level Agent’s Podcast
Need some actionable advice for your real estate biz but are short on time? Kevin & Fred’s podcast features quick tips and tricks that are perfect for making the most of a drive to the grocery store or waiting in line for your morning coffee.
4. Real Estate Today
Real Estate Today is the official radio program of NAR, meaning it’s ALL about real estate. Listen in to hear agents’ thoughts on selling, current industry trends, and so much more.
5. Rise Seattle
Okay –we might be a little biased about this one, but it’s for good reason! The Rise Seattle podcast is hosted by a Windermere Real Estate agent, Tyler Davis Jones, and features a lot of talk about our neck-of-the-woods (Seattle, WA). Although the topics vary greatly, the commentary often touches on real estate related topics and is a great listen, regardless of your location.
Haven’t had the chance to get REAL with us? Check out the inaugural episode of our monthly podcast!
MoxiWorks Delivers Alternative to Upstream
SEATTLE, January 17, 2019 – Leading real estate technology company, MoxiWorks, announced today that their alternative to Upstream is available to enterprise brokerage customers nationwide. The MoxiCloud open platform provides brokerages with a comprehensive suite of data management services designed to protect and enable the broker to fully control the distribution, licensing and use of the brokerage’s listing, agent and consumer data.
For years, brokerages waited patiently for Upstream to deliver a solution, but their recent announcement of an unresolved technology provider shift has made the future uncertain. “Brokerages need to take control of the data that powers their business, period. Own your data! It’s high time, and brokerages have waited long enough for this to be delayed any longer,” said York Baur, CEO of MoxiWorks.
MoxiWorks has evolved the MoxiCloud for three years to have the majority of the data and functionality originally envisioned by Upstream. Highlights of the MoxiCloud’s capabilities include:
- 4.5 million sold listings in 2018 from 300 MLSs representing over 90% of the home sale footprint in the U.S.
- Agent data for over 120,000 agents
- Brokerage branding and roster for over 70 of the largest brokerages in the country
- Over 20 million consumer names synchronized in real time with the Google and Microsoft clouds
- Proven enterprise scale – in 2018 alone, MoxiWorks customers transacted 13% of U.S. residential real estate representing $267 billion in volume using the MoxiCloud
- The industry’s first open platform with more than 40 real estate technology and data partnerships that use and contribute to data in the MoxiCloud, including DocuSign, SkySlope, QuantumDigital, Imprev, RealScout, Buyside, MoveEasy, and LeadTrax
- 500,000 listings syndicated daily to publishers, including Zillow, Trulia, Realtor.com, and Juwai
- Complete brokerage control over all third-party data access
“The MoxiCloud is already doing most of what Upstream intended,” stated Baur. In an article from 2017, Baur had actually mentioned the possible solution, saying, “Brokerages funded Upstream with the goal of gaining control of their data… Brokers must realize that the vendor community and the open platform MoxiWorks provides, aka the MoxiCloud, has already solved this problem.”
Baur made one other very important point clear: MoxiWorks does not intend to replace or change the MLS industry. MoxiWorks has enjoyed and continues to expand on their current MLS relationships. However, MoxiWorks does contract directly with brokers to assume the full responsibility of securing, distributing and managing the brokerage’s own data. “MoxiWorks has always taken the security and the permitted use of the brokerage’s data assets with great seriousness,” Baur added, “and we intend to take that already high standard of care to the next level in this industry with the MoxiCloud.”
Learn more about the MoxiCloud open platform here.
About MoxiWorks
MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 72 brokerages and 120,000 agents nationwide that account for more than 13% of the transactions in the U.S. MoxiWorks’ integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 40 partners that plug and play to create unique brokerage solutions. MoxiWorks also powers the LeadingRE Cloud. Find more information at moxiworks.com.
###
For more information on this topic and other press inquiries at MoxiWorks, please contact Tiana Baur at tiana@moxiworks.com.
MoxiWorks Partners and Clients Fill 2019 Swanepoel Power 200 List
MoxiWorks is honored to have York Baur, our CEO, be recognized as an industry leader in the 2019 Swanepoel Power 200, which “ranks the most powerful leaders in the residential real estate brokerage industry,” as published by T360. Along with MoxiWorks, many of our brilliant clients and partners were featured on the list as well. We want to give them all a shout out – it is a privilege to work with all of these amazing people!
- Windermere Real Estate: OB Jacobi, Jill Jacobi Wood, Geoff Wood – Managing Principals
- Long & Foster Real Estate: Wesley “Wes” Foster – Chairman & CEO, Jeff Detwiler – President & CEO, and Cindy Ariosa – SVP
- Hanna Holdings: Howard “Hoddy” Hannah and Helen Hanna Casey – Chairman & CEO
- Howard Hanna: Howard “Hoby” Hanna IV – President
- Coldwell Banker Real Estate: Charlie Young – President & CEO
- Coldwell Banker Residential Brokerage: Jamie Duran – President, Orange County, Desert Region & San Diego Companies
- William Raveis Real Estate: Christopher “Chris” Raveis and Ryan Raveis – Co-Presidents
- Lyon Real Estate: Pat Shea – President
- Realty One Group: Kuba Jewgieniew – Founder & CEO, and Vinnie Tracey – President
- Crye-Leike Realtors: Harold E. Crye – President & CEO
- Michael Saunders & Company: Michael Saunders – Founder & CEO
- Intero Real Estate Services: Tom Tognoli – President & CEO
- Realty Austin: Jonathan and Yvette Boatwright – Co-Owners
Along with our wonderful clients, we also have some truly amazing partners. In fact, MoxiWorks has a growing list of over 40 integrated partnerships as part of the MoxiCloud open platform. Not surprisingly, many of our world-class partners made the 2019 Swanepoel Power 200 with us:
- QuantumDigital: Eric Cosway – EVP, and Freddie Baird – President
- Skyslope: Tyler Smith – Founder & CEO
- DocuSign: Georg Gerstenfeld – General Manager of Global Real Estate Solutions
- LeadingRE: Paul Boomsma – CEO
- Buyside: Charles Williams – CEO
- RealScout: Andrew Flachner – CEO
All About MoxiCloud’s Newest Partner: HomeKeepr
By Tiana Baur, Content Marketing Manager
HomeKeepr: the best place to find locally recommended home service pros
Recently, we announced one of our newest members of the MoxiCloud: HomeKeepr. HomeKeepr is a full suite of fully branded home maintenance and management tools that is redefining how real estate agents drive value for clients and engage with their communities. Real estate agents use HomeKeepr’s mobile apps and website widgets to unlock the power of their network by connecting clients with their most trusted home service pro relationships — everyone from landscapers to lenders. They’ve joined the MoxiCloud to help agents stay in touch with and remain valuable to past and prospective home-buying clients, generating more repeat and referral business.
Real Referrals by Real People
HomeKeepr is the only tool where homeowners can discover home service pros powered entirely by real referrals from real people they know and trust – their real estate agent! Homeowners can confidently search for professionals knowing their home will be in the care of someone who’s earned their reputation. Say goodbye to hours and hours spent searching and reading reviews!
Your own Mobile App
Upload your own personal directory of trustworthy home service pros to a fully branded mobile app that clients will rely upon to manage their homes for years after a sale. But the HomeKeepr app is much more than that.
It’s also a fully digital representation of the home. Homeowners upload pictures of appliance ID tags and within 24 hours find a full library of user manuals and warranty documents. Upload pictures of receipts and they’ll have at their fingertips a transaction log of every dollar they’ve spent on your home. The best part is that all of it is branded to the agent.
Stay in Touch
HomeKeepr keeps real estate agents in touch with clients long after a transaction through custom-branded blog posts and valuable home maintenance tips. The HomeKeepr branded blogs can be easily shared on all social platforms.
Widgets for your Website
HomeKeepr Widgets are a white-label solutions that turn your website into a destination for clients to return to for years after a sale. With just a couple of lines of code, agents can embed these widgets to create Home Pro Search and Homeowner Blog pages on their own website.
The Integration
The new integration with MoxiWorks, will allow agents to invite their clients to utilize HomeKeepr while the agent is working within their MoxiWorks account. Invited homeowners or prospective buyers will also receive agent-branded home maintenance tips and blog posts educating the homeowner on all things important for successful homeownership.
We’re thrilled to have HomeKeepr aboard! If you’re interested in getting this new tool added to your brokerage, simply contact your MoxiWorks Account Manager or if you’re new to MoxiWorks, you can contact us here.
Top 5 Things to Know as a Part-Time Real Estate Agent
By Tiana Baur, Content Marketing Manager
Being a part time real estate agent definitely has its pros and cons, but there are specific factors that may or may not persuade you to choose part-time over full-time. After all, throwing your whole self into something will often give you the better results, rather than trying to squeeze it into your already busy schedule. That being said, you have to start somewhere!
Here are five things to know as you start your journey as a part time real estate agent:
1. Keeping in touch with your sphere is even more important.
Since you don’t have time for farming and working leads, staying top of mind for those people you already know and talk to is essential. They’ll be your bread and butter for your real estate business. Make time for coffee/lunches and make sure to interact with them on social media, at the gym, your kid’s soccer practices, auctions, etc., etc.
2. Create a schedule and stick to it.
As a part time real estate agent, you have fewer hours to get things done than your colleagues, so making the MOST of that time is key. Being part time in anything means you have to be more purposeful about the hours you have in a day that are dedicated to that part of your life, and real estate is no different. In order to stay sane, try sticking to a very specific schedule. Pick three days a week you can show homes. Reserve two mornings for coffee meetings with past clients. Plan an hour or two each week for marketing. Whatever you do, make sure it works with your schedule so you can stay consistent with it and don’t burn out.
3. Collaboration is a necessary evil.
Since it’s not your primary business, you may have to share your commission with others. If you know you don’t have the time, pass the prospect or client along to a colleague you trust. It’s not ideal, but it’s better than only giving it partial attention and getting a less-than-desirable review that will live on the internet forever. Plus, let’s be honest, getting that referral fee is still a pretty nice pay day if this is just your side hustle.
4. Say goodbye to time off.
As with anything, having multiple jobs means less time off. However, in the world of real estate, this is true for pretty much everyone. Real estate has no “weekends,” so keep that in mind when you decide to take the plunge.
5. Plan on transitioning to full time.
Real estate isn’t really meant to be a part time gig – at least not by today’s standards, especially when you consider consumer expectations and how competitive being an agent is. Chances are you’re trying on the glass slipper to see if this new career is a perfect fit. If you love it and think it’s for you, plan on transitioning to it full time because you’ll: A. Be able to grow your business faster, B. Build a solid brand that keeps you top of mind, and C. Make more money.
Visit the MoxiWorks blog for more tips & tricks!
How to Create Top Notch Real Estate Flyers
By Maddie Jostol, Senior Marketing Manager
In the world of real estate, flyers can be a necessary evil. They take time to create, maintain, and distribute, and it’s tough to set yours apart from the rest. After all, it’s just a flyer. How do you make them stand out? How can you make sure creating them isn’t a huge time-suck? How can you clearly and concisely communicate exactly what a potential buyer wants to see?
Here are a few tips for creating attention-grabbing real estate flyers that will drive business:
Put your best brand forward.
Your brokerage gives you credibility and trustworthiness in the eyes of consumers. Before they know you, all they know (most likely) is the brand you represent. Use this to your advantage and leverage your brokerage’s brand to establish yourself as a trusted expert in the eyes of someone who has only seen a flyer. Let your brokerage brand shine through those real estate flyers, giving them a level of professionalism.
Use content you already have.
Use your existing CMA content for the flyer. Save yourself some time and use what you already have so that you don’t duplicate work for yourself. You likely already have all of the property data, images, comparable properties, and supporting information available in a presentation, so let the technology do the heavy lifting and convert it into a flyer directly from your CMA tool. If you use MoxiPresent, you can create a beautiful, ready-to-use flyer from a presentation literally with the click of a button. This also ensures your brokerage branding is there and formatting is a breeze, all you need to do is select a template and it’ll auto-create your flyer.
Focus on the information they really care about.
Sure, there’s the basic ‘must have’ info that will always be there. After all, anyone is going to expect to see general property stats on a listing flyer. When it comes to the extras, though, make sure you tailor them towards your likely buyer. Consider the neighborhood, size of house, property characteristics, and unique features. Then, think about who is most likely to purchase the house. What are they looking for? What are their non-negotiables? When they pick up a real estate flyer, what is going to stand out and make them want to take action? Promote the features that make the property unique and focus on the things that will appeal to the ideal buyer of that specific home.
Real estate flyers should be beautifully branded, professional, and informative. Use your CMA tool to your advantage and save time by leveraging property data and images already available. Create flyers that are visually appealing, showcase the brand behind you, highlight what’s really important, and make it easy for eager buyers to contact you. Oh, and don’t forget to let your personal brand and personality shine through as well.
In Case You Missed It: December 2018 Real Estate News
By Jessie Trapp, Marketing Coordinator & Tiana Baur, Content Marketing Manager
Does anyone else feel like they blinked, and an entire year passed? It’s hard to believe another year has come and gone, but we’re excited for all sorts of fun new products and good Moxi stuff to hit the market in 2019! However, we can’t move forward without taking a quick glimpse back at the last month in 2018.
In case you missed it, here are the top five December 2018 real estate news stories to know:
1. Look Who’s Sharing Now: Airbnb Moves Into Construction and Real Estate Markets
Airbnb is coming in hot to the real estate development industry. According to RISMedia, “Airbnb is looking to leave its imprint in a more concrete way: designing, building and sharing homes based on contemporary lifestyles.” They’re gearing up to test prototype units as early as fall 2019. While construction completion dates aren’t exactly set in stone, there’s one thing that’s certain: this initiative is just the beginning for Airbnb.
2. Amazon to Spark Massive Real Estate Shift in NYC and D.C. Markets
Amazon is shaking things up… not that that’s news. However, their new headquarters in NYC and D.C. are sparking fear and anxiety with residents. Why? They’re worried about being priced out of metro areas. If Seattle’s market history is any indication, the outlook is less than ideal. In fact, in our home city of Seattle, the “median home value has increased dramatically by 73 percent to $739,600 over the past five years,” according to Zillow. East Coast friends, we have our fingers crossed for you.
3. Portland real estate offices targeted with violent graffiti
According to Inman News, “Vandals spray-painted threatening words including ‘die,’ ‘gentrification’ and ‘get out’ on the windows of two Portland, Oregon real estate brokerage offices over the holiday weekend.” Apparently, the talk of gentrification in Portland has grown a lot, and unfortunately, someone stooped to this level to be heard.
4. RE/MAX hires Under Armour vet, tech founder as new execs
RE/MAX hired Kerry McGovern, from Under Armour, as its new VP of Communications, overseeing all of RE/MAX and Motto Mortgage’s (their fast-growing franchise) internal and external communications and social media. We’re wondering if the dramatic change has anything to do with Under Armour’s lack of performance this year, but who really knows.
Jerry Modes was hired as RE/MAX’s new Senior VP of Information Technology. He is known for co-founding tech companies Teradata and HyperParallel.
5. Compass hiring 100 more engineers for Seattle tech hub
Saved the best for last. Compass announced they are launching a Seattle-based campus, hiring 100 more engineers (although, a little birdie told us it was hundreds). Their CTO stated that, “Seattle is home to some of the best visionary technology leaders and engineers in the world,” and honestly, how could we disagree with that?!
We hope you all have an incredible (and safe) New Years! See you in 2019.
Thanks for reading. Stay tuned for another #ICYMI!
Is Cold Calling Coming to an End for Real Estate Agents?
By Jessie Trapp, Marketing Coordinator
There are two types of real estate agents out there:
- Agents that like cold calling.
- Agents that don’t.
Along with the stair stepper and brussels sprouts, cold calling is simply one of those things that people either love or hate. And, unfortunately for those who are fans of cold calling (and fortunately for the rest of us), the practice appears to be going out of style.
Here are three reasons why the strategy of lead generation known as cold calling is likely to become a thing of the past in the not-so-distant future:
1. Phones are losing popularity.
Times are changing and phone calls are simply no longer the most desired form of communication. While you may immediately feel inclined to blame this on the millennial generation, according to NAR, real estate agents themselves (whose average age is 54) now prefer to communicate with clients over email as opposed to over the phone.
It may have been the go-to selling strategy in 1995, but there are now much more efficient (and far less annoying) forms of lead generation that will make prospects more inclined to work with you, and far less likely to hang up on you.
2. People hate getting caught off guard.
Social media advertising and email marketing are among the strategies putting cold calling out of business, and for good reason. Cold calling tends to involve lots of interrupted dinners, awkward convos, and frustrated humans – all things that go against everything we love about, and expect from, the tech savvy marketing world that we find ourselves in today.
Today’s culture is also very averse to forced conversations, meaning we like to receive messages/emails/texts and have the ability to respond to them at our own leisure, as opposed to the very second a stranger decides to contact us.
3. Not worth your time
If you’re going to put your precious time and effort into engaging with your sphere, it’s important to choose activities that will actually result in an ROI which, according to a recent study, is most definitely not the case when it comes to cold calling. In fact, findings show that:
- “Less than 2% of cold calls result in an appointment.”
- “Cold calling costs 62% more per lead than inbound marketing.”
Just those two stats alone should be enough to convince you that calling every stranger in a phone book probably isn’t the best use of your time.
To be clear, we aren’t saying that you shouldn’t call your clients, because you definitely should, but they key is that they’re your clients – not just some random person that was unfortunate enough to have you get your hands on their number. And, if you’re in need of lead generation tools that will help you engage with your sphere and actually give you a massive boost in business, we have you covered.
