An Effective Database is an Essential Tool in Commercial Real Estate Brokerage

In commercial real estate brokerage the database that you establish and maintain will be the backbone or the foundations for getting further results. Over time that database will be one of the most important business tools that you use on a daily basis. It is a personal process that cannot and should not be delegated to other people. Take ownership of your prospecting activities and your database software. Manage it daily, and load new people into it on a regular basis.

 

Here are some specific strategies to help you improve your database model and prospecting system:

  1. It is wise to use some form of cloud based storage and backup. That will then remove the problem of data loss and improve the overall security interface. A high quality CRM software program that is cloud based can usually be accessed across a number of computer and data platforms. Ask questions about multiple modes of access including desktop computers, laptops, mobile telephones, and remote access. Determine how you want to access your client contact data conveniently and frequently.
  2. Determine exactly who will own the data that you enter into your prospect management system. It is a simple question, but it does require clarity and understanding. Many brokerages will stipulate or require that the contents of a database prospecting system will be and is to remain the property of the brokerage into the future. This can be a major issue when it comes to any agent moving to another brokerage or another location.
  3. Access can be protected through a number of security strategies or layers. Passwords are the first level of security, however today we have other levels of protection that can be used including Google Authentication. Understand exactly how you can apply an extra level of security to your database online.
  4. Commit to one or two very specific prospecting activities on a daily basis. Decide on what is likely to be the most effective prospecting model. Consistency and focus of the only ways that you can create regular growth in any customer relationship management model. At a personal level, undertake the required cold calling and direct mail strategies to grow your database in each day. Track and measure the results that you achieve so that you can modify activities to improve results.
  5. Obtain the appropriate and necessary skills to prospect effectively, efficiently, and directly. Practice will help you when it comes to cold calling at a professional level. Letter writing and correspondence skills will help you when it comes to improving conversions through direct mail. Identify the words that sell and the factors of attraction that can help your prospecting conversions and conversations. Understand what people are looking for when it comes to quality properties in your location. Feed those activities and descriptions into your database model and daily activities.

 

So there are some specific things that you can do here when it comes to establishing and maintaining an effective database. Set the rules so that you can get some real traction when it comes to growing your database at a personal level. Over time that level of focus will help you when it comes to improving listing conversions and commissions.

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