“The real estate client database is an invaluable resource. Built correctly and nurtured consistently, your client database will without a doubt grow your business.”
What can the real estate client database be used for?
On average people will look at 10-15 properties to lease or purchase. Today’s enquiry can lead to tomorrow’s landlord, first home buyer, upgrader or empty nester. By capturing data in a useable centralised form, your agency makes a start in the client journey which ultimately could be a client for life relationship.
We see countless examples of client information not being fully captured during the time of interacting with businesses. Worse still, the client information may have been captured incorrectly rendering it completely useless. Even if you do not have an immediate sales and marketing use, there are many benefits in collecting and retaining ownership of your customer information. It is important to remember that agents must use data collected in the good faith it was provided.
Your database can be used to:
Collect data for the benefit of other departments
Property management enquiries can be tomorrow’s sales leads. Enquiries for higher end rental properties are a prime example of this, especially during times of low-interest rates when purchasing may be a more affordable option than renting.
Keep in regular contact
Keep past and potential clients up to date with newsletters, sales campaigns, new listings and informative blogs. Develop loyalty by keeping your business front of mind, while not inundating customers with irrelevant content.
Understand the user experience with your company
Learn about potential clients. What devices are customers using to look at your website? What days of the week and times of the day are the most popular for accessing your site? This information can be used to drive future business improvement initiatives.
Measure the effectiveness of advertising and marketing
How many quality leads are you receiving, not just page views? Find out what the hot properties in your portfolio are and what percentage of your leads make it to an inspection.
Impress vendors and landlords
Provide confidence to your vendors and landlords by demonstrating that you have a strong prospect and client database of hot leads that can be targeted for their listings. This isn’t stagnant five-year-old data, but motivated buyers and tenants that are in the market now.
Real estate agents operate in a competitive market. With the cost of advertising and marketing your property portfolio increasing, now is the time to capture those valuable enquiries and build your central customer database. It can be challenging to devote the necessary time to managing the database and ensuring all IT aspects are under control. Make sure you are making the most of your database.