I’m hoping that when Googling this topic, you were, in fact, looking for the ‘perfect operating system’ and not trying to stalk down your Ex-boyfriend. When we refer to the POS, there are several things you need your system to cover. Whether you are a sales agent in the field or a broker recruiting for top agents, there are a ton of real estate software tools available. Much like your Ex we mentioned earlier, they are not always a “one size fits all” match. It’s easy to get overwhelmed by so many choices.
When shopping for a real estate broker software, there are features that are nice to have and others that are crucial to your success. You need to decide what tools and systems will work best for your business. What are the must-haves to make you more productive and not drop the ball?
The basics of real estate broker software
Real estate software tools should be simple to use and save you time. When you think of ease of use, think of a one stop shop for everything you need to do for your business each day. Tracking websites, passwords, and trying to navigate a super complex real estate crm is a big time sucker for your business. If you have seven different systems to log into each day, you’ll be exhausted by ten o’clock on Monday morning. You need a tool that promotes productivity and is somewhat exciting to use.
Taking inventory for your real estate broker software
Where are you winning and where are you lacking in your recruiting efforts? It’s time to sit down and analyze where, why, and how your leads are coming in. What outreach are leads most responsive to? Get a pulse on your newest recruits and ask what made their decision to come aboard your ship.
It is the key to building a solid real estate business, both for the broker and the agent. As a broker, consistent and effective follow-up will keep you in front of the agents that will end up making the move in your favor. Start by keeping track of every agent you have made a connection with and keep a record of notes to circle back to. Don’t make me call the post-it police, toss out the sticky notes! Your real estate broker software should be your go-to spot for keeping track of every phone call, text message, and face to face conversation you have had with an agent. The most effective real estate broker software will provide a way to keep a close eye on what progress you have made and help you move forward with who to call, text, meet with next.
When it comes to finding the best broker CRM out there, you need to dig deep into your current processes and systems in place. Figure out what is and what is not working for you. When you find the ‘what is’, search for a CRM that takes it and runs away with it.
The best systems out there today, provide tools for you that will be the “bee’s knees” of real estate broker software technology. In this modern tech world we live in, we have everything we need at our fingertips when it comes to lead generation, follow-up, social media management, and marketing your business.
You want to find a real estate broker software that takes some of the manual labor out of relationship management. How?
- Workflows with auto triggers and goals
- Automated emails
- Automated text messages
- Email activity tracking
- Re-engagement capabilities
The perfect operating system doesn’t stop at the broker, either. This also applies to the tools and services a brokerage provides to their agents for their leads and clients.
Agent customer relationship manager
An agent CRM that offers services like texting, smart tracking of a client’s home search, and automated follow-up are a few top “must-haves” when seeking your real estate crm tools for your agents. ProAgent Solutions, offered by several brokerages, is a top pick for many agents. Agents can easily access this on their mobile device while “on-the-go”. Being in the field and quickly needing to access information can be a complete deal saver. Realtors are always chasing after clients, and brokers chasing agents, so while you’re running after agents with your butterfly net, it does a broker and agent good to have their broker recruiting software available on the go.
Set your entire business up for success
Just as your real estate broker software needs to be all encompassing for you, the tech you provide your agents is just as important. Sure I can bring on 100 new agents, but if they can’t maintain their contacts, they have no deals. It’s time to invest in every aspect of the brokerage you are running. An agent with no deals is about as useful to your brokerage as a juggling panda bear. Sure it’s fun to look at, but it is not going to move the needle of your business. Don’t get stuck in carrying costs for agents who are not producing. Give your team the tools to succeed.
What do your agents want in their CRM?
- Contact Management
- Calendar appointment and task management
- Document management
- Transaction management
- Lead capture
- Lead Nurturing
- Email marketing capabilities
- Integration ability
Your agents don’t want to have a hundred and thirteen tabs open on their computer at all times. They already feel like their brain is running that many tabs at once.
A seasoned agent is going to come with their own little black book of contacts. If they are actually keeping these contacts in a paper bound notebook, HELP THEM! Pen and paper, really Carol? Agents and brokers should be keeping every contact they’ve ever made in their CRM. Every lead you have had someone give you on a cocktail napkin belongs in your customer relationship manager. Why? Because it is impossible if you’re marketing right, to keep all these people straight in your head. A great contact management system allows you to see what happened last. Keep all of your personal notes that you have on each contact from when you ran into Steve at Starbucks and met his dog, Hank. It all matters and helps you build that relationship with the potential client or agent.
While some agents will hire a Transaction Coordinator to manage their documents during a deal, we all know it is the agent’s responsibility to ensure the transaction is running as planned. Real Estate is a people business and will always need that personal touch. A perfect way to streamline your business and stay on track with your busy schedule is a real estate transaction management software system. This allows you as a broker, and an agent, to have a timeline of the deal in place. Store all of the required legal documents, provide the ease of accessing important details about a transaction when needed in the field and hold your agents accountable with compliance.
Even though these systems are made to keep the professional on track, they really impress the clients too. An excellent real estate broker software will have all of this in one spot, and accessible on the run. I mean, whoever doesn’t appreciate one-stop shopping and drive-thru’s, must have a ton of idle time on their hands, unlike a real estate professional.
For a broker, document management will apply mostly during on-boarding and during agent retention. You need a system to organize:
- Drivers licenses
- Realtor licenses
- Additional Insured information
- Agent contracts
- Disciplinary files
- Protected ACH information
- Brokerage transfer forms
Once you convert a lead, your CRM should help you during agent on-boarding as well, not simply procurement.
Agent document management will primarily come in handy when their lead turns into a client. That moment when Ruth from “My Fluffy Kitty Real Estate” calls and asks for my fax number… my skin just crawls. It’s 2019, get it together Ruth. Try asking a millennial to fax you their pre-approval letter. When they look at you like you have three heads, you can re-think your need for document management.
Clients are so impressed by how easy it is to quickly review and sign documents online and mainly on their mobile device. Real estate happens nearly all hours of the day. A client that is on a flight to London or in a time zone 12 hours different than us, will gladly appreciate the ease of use and organization of an excellent document management system.
How do you capture a lead? A box and string, a cheese trap or a candy trail aren’t going to cut it.
Social Media Gold
A major “gold mine” for real estate agents is their own social media platform. This is typically underused or in an agent’s mind “I don’t know where to start”. Agents that are not generating business from their own social media accounts have not realized that this is your biggest sphere of influence….and it’s so simple to connect with your people. Engage your own followers to share your posts, by providing educational and exciting new listings that appease the eye. Not saying you need to turn your social platforms into the only way to advertise your business, but….. It really works.
Provide your agents with personalized websites with IDX that connect directly to their CRM system. With the right social media marketing tools, your agents will be able to easily add listings and a property search to their Facebook page and other social sites. Engagement is everything. Once they have those contacts, they can input them into your agent CRM and keep them engaged.
Was it your personalized texting, eye-catching email drip, or the voicemail drops? It could have been a mixture of all the above. Dive in by talking to your existing agents about why they decided to join. If you have built a great brokerage, your agents will be happy to share and help you grow too. Agents understand, better than most, that word of mouth is everything and the sun rises and sets with referral business. Don’t leave your current agents an untapped reference.
There is no lead seeking delayed gratification, we live in a ‘right now’ society, so give the people what they want! What do they want? Potential clients want information and communication immediately. They don’t care if it’s three A.M. on a Sunday. Your agent CRM needs to incorporate text capable sign riders and SMS marketing software.
Train for Success
There will always be those agents that are constantly asking the same questions over, and over…and over again. Educating your agents on the process of your online systems is key to avoiding confusion and frustration. Technology confusion is overall a big reason agents may change brokerages for the “next best thing”. Set-up monthly or even bi-monthly group sessions to give a personalized touch to those agents that need hands-on experience when it comes to new technology. Show a few of your tools when meeting an agent for a recruiting meeting too. If it grabs their interest, they will be enticed to learn more.
Some brokerages try to offer everything they possibly can to bring on new agents. It becomes very overwhelming for any level of experience in this business. Focus on a few good systems that are easy to train your agents on. You will find that a happy agent understands how to use their tools they have and will spread the word to others in the business.
Who Loves POS
Piece of…Sushi? Well, everyone loves a good piece of sushi, of course. Just as everyone should love their perfect operating system. You’ve got this, don’t let the number of options or flashy lights sway you. This is your business and your business partners (agents) business at stake. Every piece of the puzzle is important when you are shopping for real estate broker software. Make yourself and your business a priority and don’t settle for mediocre on the things that count.