September means Back to Basics here at Inman. As real estate navigates the post-settlement era with new commission rules, real estate professionals from across the country will share what’s working for them, how they’ve evolved their systems and tools, and where they’re investing personally.
This post was updated Sept. 9, 2024.
When you need to revitalize your business, where do you turn? If you’re constantly looking for the latest and greatest marketing bells and whistles, or complaining because there aren’t enough leads coming in, you may need to turn to the simplest, most predictable and most controllable aspect of your sales funnel — your CRM.
If it’s been a while since you dug into your database, the time is now. Here’s how to make sure it’s updated, productive and ready to set you up for long-term success.
Why regular health checks are vital for your CRM
Too many agents and brokers are guilty of feeding their CRM new information without ever updating the information that’s already there. Your outreach is only as good as the accuracy and reliability of the data in your database.
If you want to be as efficient and consistent as possible in reaching out to your sphere of influence, and you want to make better decisions about whom to reach out to when, regular health checks are essential.
Key components of a database health check
When you undertake a checkup of your CRM, you’ll want to make sure that you hit all the highlights. These include:
- Data accuracy: Update property details for homeowners in your database. Add personal details, including updated contact information, social media handles and life events.
- Database security: Make sure that you’re regularly updating passwords and access credentials so that you keep the information in your database safe.
- Performance optimization: Remove duplicate entries, and make sure that you’ve updated to the most recent version of your CRM so that you’re able to take full advantage of its capabilities.
Tools and technologies for database health assessment
Make sure that you’re conducting periodic audits of your whole database, not only to update it as needed but to segment it for more effective outreach. To help make this process more effective, there are tech tools available for everything from building to growing, repairing and making predictions based on the information you already have.
One such tool is Revaluate, which combines database analysis with a machine-learning algorithm to help predict when someone from your database is thinking about making a move. In addition, the service helps you manage your existing data — and can even help you create a database from scratch if you’re just starting out.
Establishing a regular CRM maintenance schedule
It’s not enough to say, “Update your database regularly.” Creating a schedule will ensure that you set aside the time you need when you need it.
Daily tasks
- Reviewing and responding to new leads
- Updating contact information when received
- Removing duplicate or irrelevant entries
- Making notes about daily interactions with clients or leads
Weekly tasks
- Reviewing new contacts added the prior week
- Checking for missing or incomplete information and reaching out to the lead for clarification
- Segmenting new entries based on location, lead source or status changes
- Running email marketing or follow-up automations
Monthly tasks
- Data cleanup
- Error correction
- Evaluating analytics
- Adjusting outreach efforts as needed
- Updating property listings and removing outdated, expired or sold listings
- Outreach to stale leads with re-engagement campaigns
Quarterly tasks
- Evaluating analytics and adjusting outreach efforts as needed
- Seeking feedback from clients and leads for improvement
- Testimonials
- Evaluating and updating marketing strategy based on current data
Annual tasks
- Thoroughly reviewing your database for accuracy and relevance
- Purging outdated or irrelevant contacts
- Updating CRM system, security and performance features
- Setting goals and benchmarks for the new year based on insights gained
You’ll want to consistently back up your database and keep up with industry trends so that your database strategy is always employing the most current best practices for SOI marketing and outreach.
The more you keep up with your database, and the people in it, the better you’ll feel about your business and the more you’ll be poised for ongoing production. While most agents are on a constant hunt for new leads, it’s actually lead nurturing and conversion through a fully optimized database plan that pays dividends.
Troy Palmquist is the founder of DOORA Properties in Southern California and director of growth for eXp California. Follow him on Instagram or connect with him on LinkedIn.
