For the past 20 odd years estate agents have used the same tried and tested CRM systems. They are reasonably simple to use, low cost, and they get the job done. But what is the job? And what is low cost, when it comes to investing in tools that are designed to help you make money?
Traditional CRM Estate Agency Software is only there to help manage transactions that you as a business have somehow generated but what if your Estate Agency software was not only doing that but actually trying to generate more business from all of the data while you and your team slept?
I (Mark Burgess, CEO of Iceberg Digital), recently received an email from one of our clients that has had Lifesycle for 12 months and is concerned his team don’t really use it. So the simple solution, would be for him to drop Lifesycle as on the face of it that would be a saving of around 15k a year! But…Is it a saving? Or is that just taking the easy option as opposed to realising that there are fundamental problems that need fixing with the team?
Here is the email I sent him with the evidence for you to decide…
"Since you have had Lifesycle turned on 12 months ago it has been involved in nurturing £362,270 of sales instructions (the number is probably way higher as the staff don’t keep everything up to date in the platform).
It is currently nurturing £1.7m of future sales instructions for you, and your current conversion rate is 21% so that should convert into a minimum of another £357,000 at least over the next few years. At 12k pa investment, why would you want us to delete everything even if no one ever touched it again!? (As it will stay in contact with all of those people forever and tell the sales team when any of them are active on the website or your social media).
The system is working well even without the staff really using it properly, but if they were using it properly it would be off the charts as they are just not taking advantage of what is right in front of them through Lifesycle. For instance…
The system has brought in 241 instant valuations in the last 12 months.
5 of the them have the status of appointment booked.
2 of them are marked as instructions – one with a fee of £7,875 and the other with a fee of 15% (£93k) which I am guessing is not right, but it is a 600k flat so probably also around 7k making those two instructions alone more than Lifesycle has cost for 12 months.
2 are long term prospects.
6 have the status of having a proposal sent.
And 2 had a market appraisal but the proposal was never sent.
There will be more but obviously without the system being used properly it is hard to tell. However even from the little there you are already winning.
In terms of the long-term effect, your Lifesycle system is currently nurturing just over 30,000 contacts that are not yet in your database through the content that is regularly going out (which is about to stop).
And in the very short time that Lifesycle 2 has been available it has been automatically registering your applicants for you (4 weeks) it has registered 21 buyers for you and from just that it has identified:
1 person that has a property to sell not yet on the market.
4 buyers that are about to become landlords in your area.
1 person that is going to rent their property out but has not yet put it on the market.
8 people that need a mortgage but have not yet arranged anything.
I am sure you would agree that NO member of staff is getting all of those leads from 21 registrations, let alone the fact that they have all come in without any manpower, along with the property matching and tracking all happening automatically.
I realise you don’t want a system where the staff don’t use it but surely these stats are enough to show that the staff MUST use it or else you are shooting yourselves in the foot?"
Lifesycle brings your entire database to life BUT the change from just ‘doing what you have always done’, is hard. The results are blindingly obvious so the question is why would that potentially still not be enough for someone to agree? What stops us as humans from doing the obvious when it comes to losing weight, making money and being happy?
From that email, what would you do? Let the team do what they want or turn the ship around?