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The real estate industry tracks ROI quite closely to ensuring that you’re getting out what you put in, but is there another important metric you should be keeping your eye on? In this episode we discuss why agents should be tracking Return on Time and Return on Technology and how you can get the most out of both through automation.
Takeaways + Tactics
Automation and technology won’t be effective if they are pushing out the wrong message or the right message at the wrong time.
Our industry went from tracking nothing to tracking ROI but the problem is real estate agents are not tracking ROT (Return on Technology).
The ultimate goal is to communicate through automation but it’s not a one size fits all strategy and it shouldn’t take the place of human conversation.
I can never make a return on my investment that would be equivalent or more than the return on my time. Through automation we get return on time. -Greg Harrelson
The Matts and the Gregs kicked off their conversation about automation and how Matt C. started working with Greg H. on the project. Greg H. stressed the importance of technology and automation in the current market. “Automation is critical because technology is playing a big role. Just to keep up with where the industry is going, agents need automation.”
Next Matt.C detailed the Virtual Assistants and IRAs he uses in his business. His virtual team includes a social media community manager as well as a graphic designer. He went onto to explain more about the Infusionsoft package he uses and the ins and outs of modifying his system to suit what he wants to get out of his business. Greg H. shared what makes the software even better than any CRM on the market. “It’s an intelligent CRM that allows you to feed additional things based on the click patterns of the customer.”
He also described how he’s able to create different content types for a different set of conversations. His goal is to have a system that enables the customer to pull information out of it, instead of pushing content to the customer.
Matt C. talked about how we wanted to have an automation for every stage of the sequence and then the conversation turned to the management of Buyer Lead Campaigns and Seller Lead Campaigns for clients looking to sell and buy. Greg H. shared how he is able to run these campaigns concurrently. He also provided an insight into the ultimate benefit of automation and how it’s able to give you more time to reinvest into creating new products or improving your process.
Greg H. and Matt C. went onto answer questions about:
- Price modification
- Developing a database of real relationships within the automation and nurturing them
- Centers of Influence campaigns and how they can be modified
- Greg H’s future plans including a product they are building with Big Data
- Text messages and integration
The business of real estate has seen boosts and benefits thanks to technology. Automation has proven to be an effective method to free up time you can invest into other parts of your business. The two things to remember is that automation is not a one size fits all and that automation and technology won’t yield results if you’re pushing out the wrong message or even the right message at the wrong time.
Greg Harrelson has been selling real estate for over 20 years, his team is consistently the top performing in the Myrtle Beach area. To get in touch with Greg and learn more about his business go to www.c21theharrelsongroup.com
Matt Cavanaugh is a professionally trained salesman and negotiator armed with a bachelor’s degree in Mathematics. After having great success in industrial sales, Matt decided to begin his journey in real estate. To get in touch with Matt visit www.mattcavanaughrealestate.com
Click here to download your free PDF, Greg’s Favorite Scripts, featuring scripts for buyer and seller lead follow up, price reduction and objection handler scripts and much more.
I use Vyral Marketing to keep in touch with my database and generate more referrals and repeat business. They do a phenomenal job helping me shoot custom educational videos and gather testimonials from happy clients. Click here to see examples and learn more.