A real estate agent’s database should be your secret weapon

A real estate agent’s database should be your secret weapon

February 22, 2018 | by DiJones

One of the most indispensable tools in any real estate agents’ arsenal is their database. Commonly referred to as a customer relationship management or CRM database, the database collates the contact details of prospective buyers, sellers and landlords. Some of the most successful agents estimate that 80% of their commissions are due at least in part to their database.

How do databases benefit sellers?

The dictum that size isn’t everything certainly rings true in the case of databases: the most effective databases are not those with contacts accumulated over years, but rather those that are carefully curated, up-to-date, with complete client information available.

At Chadwick we have minimal restrictions on our data as we own it, meaning no need to pay a premium price to access the databases of real estate operators such as Domain. Moreover, our databases have a localised focus on buyers and sellers interested in Sydney’s North Shore.

Databases capture client data to later use for sales and marketing purposes. If you are selling a property, your real estate agent can tap into this rich resource to fast track the process of finding prospects, sometimes leading to an off-market sale.

The role of databases in off-market sales

Sydney has seen a notable rise in off-market property sales over the past few years, particularly on the Upper North Shore. This trend has been governed by a highly coveted property market with limited stock available, and buyers fiercely competing for the best properties.

Off-market sales occur without a public advertising campaign or not advertised on the major portals, and boast the distinct advantage of offering sellers privacy during the sale process. In addition, off-market sales are often swifter than their on-market counterparts. Agents who know their market inside-out can utilise their database to connect sellers with highly motivated buyers and facilitate off-market sales.

The database social media nexus

Data can be used across diverse marketing channels – phone calls, social media and email marketing. While some agents rely on traditional means such as mass emails or follow-up calls, the most contemporary agents integrate their databases into their marketing approach in innovative ways.

Twitter, Instagram and Facebook allow agents to connect with sellers in fresh ways – and are one way databases are now being used. Images of the seller’s property can be posted on various platforms and reach thousands of prospective buyers who may have simply visited the agent’s website, or be on their email database. According to one influential survey, forty four per cent of buyers purchased a home they found by searching online. So for sellers, an agent with a strong online presence means greater exposure.

So when it comes time to sell your property don’t underestimate the power of your real estate agent’s database.

Have a question about your property? We invite you to speak with anyone in our team or discover what your home is worth today.