In 2017, the top 10% of real estate brokers earned more than $150,000 a year, according to the Bureau of Labor Statistics (BLS). That’s nearly three times the median income for brokers, which was $56,730.
This data shows that brokers and agents clearly have huge potential to grow their revenue. What should you do differently to make it happen for you?
In this Forbes article, top real estate agents attribute success to essentially two key factors:
- Deliver Exceptional Value
Help customers find what they are looking for and give them a fantastic experience too. Not only will they do a deal, but they will also send plenty of referrals your way.
- Boost your Sales Productivity
The more sales activities you do within your limited time, the more deals you close. Moreover, delivering more value demands more time. You need to figure out how to extract more time during your day.
But how do you deliver superior value, manage your time better – and close more deals?
Here are 10 ways the iovox app can help you do all that – and grow your revenue.
- Find the Perfect Match
A couple calls you up asking for a three-bedroom house in a waterfront neighborhood.
You don’t have any listings that match, so you don’t note down that particular requirement. However, three weeks later, you get an early viewing of the perfect place.
The ChallengeFirstly, You don’t remember who had called, even though you had saved their number on your mobile!
And secondly, your phone’s call history only gives you a limited number of records. So even if you remembered the call date and time you couldn’t retrieve the name because you’ve had too many calls since that one.
The app lets you tag every single call (inbound or outbound) with several keywords about clients’ needs and preferences.
Tags are fully customizable and you can add an unlimited number of tags. A few common types of tags that residential realtors use on the iovox app are:
- Buyer or seller
- Desired location
- Number of bedrooms
- Number of bathrooms
- Pets allowed
- Proximity to public transport
- Budget range. (Keep a tag for every range)
- Level of urgency – low, medium or high.
Search and Find the Best MatchesLet’s say you added three tags to the call from the buyers who were interested in a property such as “buyer” “waterfront”, “3 bedroom”, and “$900-950k,” as an example. When a property fitting that description comes available, you just search through iovox looking for every buyer looking for a similar property.
No more deals lost because you couldn’t remember. And no more wasting time scrolling through your call history or leafing through a thick notebook.
Unlike your limited call history, you can search for details of any call you’ve ever had since installing the iovox app – going back years.
- Capture Everything – In One Place
Tags aren’t always enough. What if you need to take lengthier notes? A caller’s email, specific details about a property, special needs, personal details you want to remember to build rapport and so on.
The ChallengeRealtors are always on the move and hauling a notebook everywhere can be a pain. You can use a note-taking app to jot down details after a call. But that has several limitations.
- After the call, do you always remember every detail the client told you? Or worse, you might remember something incorrectly.
- Organizing and finding notes for a particular client is time-consuming – even with the most advanced note-taking apps like Onenote or Evernote.
- Finally, how often do you really refer back to your notes? Since notes for a particular call aren’t that easy to find, you often rely on your memory instead.
The iovox solution
In-App Call Notes
Taking notes using the iovox app, there’s no need to use complicated folders and pages to find notes about a particular client. All notes are associated with a particular contact in the iovox app.
When all your information is in one place, it just takes a tap or two to review all the client’s details before a call.
Notes During Call
The iovox app also allows you to take notes during the call. That’s far more efficient than relying on your memory to capture all relevant details after the call.
Voice Notes and Transcription
Use the power of your phone and take notes faster just by pressing the record button in the iovox app and transcribe your voice notes into text.
And in case if you are wondering, all your notes are stored on a secure cloud server accessible only to you.
- Take Timely Action
You are not the only realtor your clients are going to, so if you want to get the deal, you have to act quickly.
- When you find a property that’s a good fit, call your clients as soon as you can.
- When your client wants to review the contract terms, deliver them fast.
- If you need to follow-up after a house viewing, don’t forget.
The ChallengeDelaying on any of these actions can cost you a deal.
But realtors are incredibly busy. Keeping track of every action you need to take with every single client is maddeningly complicated and stressful. Tasks are always slipping through the cracks.
How do you easily keep track of all your tasks and take quick action?
The iovox SolutionWhen the call ends, just press the flag icon and create a to-do, to remind yourself of actions you need to take. This is similar to flagging items in an email client like Gmail or Outlook.
Flags help you to:
- See what actions you need to take. The iovox app performs as a simple, action-oriented to-do list centered around your phone calls.
- Give you reminders (push notifications and email) to take action on specific tasks.
- Get More Referrals
Surveys indicate that 73% of buyers are ready to go to their agent again or provide a recommendation, and agents expect referrals to drive 49% of their leads.
Referrals are the strongest leads in any business, not just real estate. So what can you do to get more of them?
Simple. Stay in touch with your clients.
- Call them after a couple of months to ask them how things are going with their new property.
- Contact them on special occasions like anniversaries, or the anniversary of when they moved in.
- When you do call, show them they weren’t just another number in your ledger by bringing up personal things that they told you about during your interaction. Their dogs name, their favorite pizza place, or their golf handicap.
The ChallengeSounds good in theory. But how will you remember these details, and how will you remember to call?
The iovox Solution
- Use iovox notes to capture small personal details after every interaction. It just takes a couple of minutes, but the value of building this habit is immense.
- Use flags to set to-dos to call your clients.
Simple notes and flags can go a long way in maintaining relationships with clients and getting more referrals, so use them as much as you can.
- Collaborate Easily with Your Team
You probably work together with other people – your own team, a virtual assistant or while collaborating with other real estate agents on a deal.
You often need to share the details of client calls with your team. Either when you are busy with another task and you need a colleague to take over, or perhaps sharing details with the team is your standard process.
And that’s where plenty of things can go wrong.
- You just wrapped up a call, but you are busy and don’t have time to call and brief somebody or write an email. When you finally get time, you have forgotten the details.
- You do share the details, but your colleague has incomplete information. Consequently, he mistakenly provides incorrect information to a client.
- You need a colleague to take a specific action – make a call, draft a contract, organize a visit, but she has too much on her plate and forgets.
The iovox Solution
Share Call Details
The iovox app lets you share all the details of a call – notes, contact details, call duration, etc. with just one or two taps. You can create different groups to share notes with, or share them with individuals.
Share with non-iovox users
You can also share call details with non-iovox users (such as a partner realtor). The iovox app allows you to share call details as an email.
The app allows group members to add comments by creating message and workflow threads. Your colleagues can reply to your notes and ask you follow-up questions. No more information gaps
You can assign tasks to other people through the iovox app. After a call, if you need Anne from marketing to prepare open house materials, use the flag button and create a task for her. She will get a notification about the task and subsequent reminders too. You will also be notified when she’s completed the task
- CRM Integration – No Need for Manual Entry
Some firms use Customer Relationship Management (“CRM”) systems to track sales opportunities and listings.
Let’s face it. Nobody likes updating a CRM. However, neglecting a CRM means that you and your team have an incomplete picture of your sales activities.
The iovox SolutionThe iovox app has an integration with Zoho CRM, which saves you the trouble of manually entering details and dealing with several apps. The moment you finish a call, press ‘share,’ type in any relevant comments, and all the call details will get added to your CRM automatically.
Zoho CRM has a free version for up to three users, which is great news if you are a solo realtor or have a small team and don’t need any advanced features.
The iovox app will also be integrating with Salesforce and Microsoft Dynamics soon. Moreover, we are also integrating with corporate phone systems, so your CRM will be able to automatically capture interactions across several devices.
- Analytics without a CRM
Success in real estate sales lies in your sales activities. It’s a numbers game. The number of leads, calls and follow-ups will determine how many deals you close.
This is easy to keep track of with a CRM, but what if you don’t have one and want to keep it that way?
The iovox SolutionThe iovox app has a desktop version which allows you to look at detailed analytics of your calls. You can see how many calls you have made and received in a specific period, as well as other details.
This data will help you measure your progress. Are you on track to meet your monthly and quarterly goals or do you need to acquire more leads and make more calls?
Checking your analytics on iovox desktop is also a great way to stay motivated towards meeting your goals.
- Make a Fantastic Impression on Clients
You get a call from a client.
You know that the caller is a client because you have her number saved and you remember speaking to her before. However, you don’t remember the exact details of her requirements and the current status of the transaction.
- This is common if you are working with dozens of clients at the same time. However, this means that you would have to ask her to refresh your memory, which isn’t a great way to make a positive impression.
- You would have made your own observations about how to best deal with that client (positive or negative attributes), but you don’t remember them now. And you certainly can’t ask her!
- Moreover, what if a different colleague has interacted with her earlier and you are talking to her for the first time? Having a conversation without any prior information means that the client will have to explain everything again.
The iovox SolutionIf you have the iovox app installed and your phone begins to ring, your notes about the caller are available and easily accessed in an instant, to reminded you of this client’s important details.
The note might say that she’s ready to sign the contract, so that you get straight down to business. Or you might want to build rapport by asking her about how her son’s baseball game went.
These small touches go a long way to create a positive and highly professional impression. This sets the stage for long-term relationships that bring in valuable referrals.
- Process Calls Faster
A large chunk of a realtor’s day is spent on the phone.
Sure, calls are essential, but being saddled with too many of them leaves you with less time for conducting property visits. How can you process your calls faster and conserve valuable time for other activities?
The iovox Solution
The iovox app is perfect for executing a productivity technique called ‘batch processing.’ It’s a term used in operations management – where you execute similar tasks at the same time. That’s how productivity is maximized on factory floors and workshops.
Iovox shows you all the calls that you have flagged. You can then set aside a number of time blocks for following up during your day. Doing the same type of activity repeatedly in a single session will help you go through tasks faster.
- You can also use tags for batch processing. For example, if you have a tag for everyone who’s ready to sign a contract, you can call them all one after the other.
- The iovox app is perfect for executing a productivity technique called ‘batch processing.’ It’s a term used in operations management – where you execute similar tasks at the same time. That’s how productivity is maximized on factory floors and workshops.
- One Tool for All Functions
Realtors use multiple tools to run their business. One for taking notes, a to-do list, another for having conversations with their team (email, slack, etc.), a CRM and so on.
But why go through all that trouble?
The iovox SolutionAs you have just seen, iovox removes the complexity of handling multiple tools. It serves as a centralized command for your real estate communications.
You can use the iovox app to:
- Flag calls and set to-dos
- Take notes
- Push information to your CRM
- Assign tasks to team members
- Share information with them and have discussions
- Check your sales analytics
When you and your colleagues work from one tool, you will be far more productive as individuals and as a team.
Try it OutThe iovox app can help you stay more productive and reduce stress, close more deals, get more referrals and grow your business faster. Give it a try by downloading it here.