Top Producer and Active Rain are sponsoring a contest “Identifying Opportunities From Within Your Sphere” or CRM. Here is my entry for the contest!
What is RADAR?
The New Oxford American Dictionary defines Radar:
- Used to indicate someone or something has or has not come to the attention of a person or group.
Read And Develop All Relationships
The real estate market in Sedona is a place for those to come and retire or have a second home. Many of my customers are looking for homes they can rent out or live in during the winter or summer months depending on where their main residence is located. Anyone who is preparing for retirement may not feel hurried to purchase a home in Sedona.
Red Rocks Fever
They may feel they have time to save, or develop their strategy of how they are going to pay for this home. This generally means they may not be ready on the first visit. They just know they are going to purchase a home here. Many of my customers just can't get enough of the red rocks.
Needs & Wants
When a customer is purchasing a second home or a home they will eventually retire to, they have developed specific criteria as to what they need and want in this home. My job is to be able to READ between the lines and hone in on the specifics. These "specific needs and wants" may change over time.
Determine The Time Frame For Purchase
I ask a series of questions. I want to know how serious they are. I ask them if they are pre-approved or pre-qualified. This tells me the degree of preparation they have made. I will ask also, their time frame. I also inform them of our market condition. Our market home values rise slower than some of the metro areas. The problem is, that the homes are still going up and your savings will most likely not cover the rise in prices if you wait too long.
I just recently sold a home to a customer who I had been working closely with for 3 years.
Many of my customers in My Sphere of Influence come from 4 areas.
- Realtor.com - 18% - I have tried other areas of paid leads and have not had much luck. Realtor.com are Ads
- Listing Signs - 24%
- Referrals - 35%
- Other - 23%
Knowing this information allows me to create a plan of action on future business. You need to know where your business is coming from.
How Do You Keep Customers Engaged For Long Periods Of Time?
- Calls - Based on the initial qualification discussion, I determine a communication calendar on when to call my customer for follow up discussions
Weekly "stay in touch" calls to a different segment of my sphere.
- During lull times - Use that time to schedule these calls.
- Stay in touch with RE agents who may have properties that fit your customers expectations.
2 Monthly Newsletters
- Happy Grasshopper (every 3 weeks) provides a light touch that can be customized for your particular call of action for that month.
- Another monthly news letter that has specific home information stories. Again, this is customized for my subtle message.
I also will be sending 2 Holiday cards.
- Thanksgiving card - thanking my customers.
- NO XMAS CARD - There are too many cards during the holidays where my card will get lost in the mix.
- Send a New Year card - Success and Inspirational message to start 2017. I will send this the first week of 2017.
- IDX - explained below.
IDX - Secret Weapon for Customer Engagement
I have a CRM and my IDX acts as a lead generator. I use the IDX to see what properties my customers are looking at and I send them new listings that fit their criteria.
- Creates a dialog based on the homes sent.
- Allows me to fine tune my customers priorities.
- Keeps home search in fore-front of the customer's mind.
- I adjust my calls based on customer engagement in the IDX. (I use IDX Broker Platinum)
Final Thoughts - CRM
I have had a CRM my entire time in real estate. I weed the contacts based on how I see the lack of engagement. A new agent or an agent who does little business may not see a need to use a CRM. I believe it is best to start out the gate with a vibrant CRM. Otherwise you will be scrambling in the future to remember everything you have to do and the contacts you need to make.
You may not see big gains in customers if you can't retain them! I am in the process of hiring an assistant to help me with many of the tasks that do not involve direct customer contact.
So I hope this answers the question about RADAR. It is a must to:
Read - be able to detect what your customers needs and wants are
Develop - utilize the tools to refine your customers needs and wants
All - every customer offers a chance at a sale or a referal for a sale
Relationships - a state of being connected to people