Here are the insights from episode 136 of the Real Estate Insiders Unfiltered podcast, featuring guest Ryan Young, CEO of Fello and a top-producing team leader. Tired of chasing leads that go nowhere? In this episode Ryan delivers a no-nonsense blueprint for real estate domination.
Discover his “eat your own dog food” approach to business, the shocking truth about your CRM’s hidden potential, and the exact steps to build a powerhouse team right now. Learn the crucial difference between a good database and a goldmine of future business.
The Importance of Your Database
Ryan emphasizes that your database is not just a collection of names and numbers; it’s an asset that should be treated with care. Here’s why:
- Quality Over Quantity: Many real estate agents inflate their database numbers, claiming they have thousands of contacts. However, if those contacts lack essential details like email addresses or physical addresses, they aren’t truly part of your sphere of influence.
- Awareness is Key: The first step to recovery is recognizing the state of your database. Acknowledging that it needs improvement is crucial for growth.
Take Action: Start Cleaning Your Data
To fix your CRM nightmare, start by cleaning your database. Ryan shared some actionable steps:
- Identify Homeowners: Ensure you know who owns the homes in your database and that the data is accurate.
- Segment Your Contacts: Classify your database based on various criteria such as price point, home ownership duration, and engagement levels.
- Focus on Engagement: Tailor your messaging based on how engaged each contact is with your content. If someone is actively checking their home value, they should receive more targeted communications.
Messaging Matters
One of the most significant insights from Ryan was the need for relevant and timely messaging. Too often, real estate agents send out generic information that doesn’t resonate with their audience. Here’s how to avoid that pitfall:
- Personalize Your Communication: Tailor content based on the specific needs and interests of each segment. For instance, a homeowner looking to downsize will receive different messaging than a first-time buyer.
- Nurture Relationships: It’s essential to focus on building long-term relationships rather than just pushing for immediate transactions. As Ryan stated, “Your job should be talking and having conversations with all the homeowners in your database.”
The Power of Segmentation
By segmenting your contacts effectively, you can ensure that your messages are relevant, increasing the chances of engagement:
- Price Point: Differentiate messages based on the value of homes. For example, luxury homeowners may require a different approach than those in the first-time buyer market.
- Home Ownership Duration: Tailor communications based on how long someone has owned their home. Long-term homeowners might appreciate tips on maintenance or updates, while newer owners might be interested in market trends.
Utilizing Technology Effectively
Technology can be a double-edged sword in the real estate industry. While it can streamline processes, it’s essential to use it wisely:
- Leverage CRM Tools: Use your CRM to automate your messaging but ensure that the data you’re working with is clean and accurate.
- AI and Automation: As discussed in the podcast, integrating AI can help you analyze your database and automate relevant messaging. However, the human touch remains irreplaceable in relationship-building.
Final Thoughts: Embrace the Long Game
Ryan’s overall message is clear: treat your database as a valuable asset and focus on building lasting relationships. The real estate market is evolving, and those who invest in their databases will be better positioned to thrive amidst changing conditions.
Key Takeaway
If you could implement just one thing in your business today, it should be to start obsessing over your database. Invest time into cleaning it up, segmenting your contacts, and crafting personalized messages. This foundational work will pay off in the long run, as you cultivate a loyal client base that will return to you for their future real estate needs.
