Many people use the word CRM but don’t really understand what it is and what it can be for you now and in future.

When I sold my real estate practice, I sold my data base or CRM or Customer Relationship Management System. This is no different from when you hear of a Doctor or Lawyer selling their practice, they are selling their list of names. What the buyer is buying is potential.

So, if you were to sell your business what would someone pay? Do you have a proven record of contact with them (at KW we had Gary Keller’s 33 touch program to show us the way), can you show a relationship that is more than just emails and mailers? How much is each client worth to you, past and future. What is potential? A buyer wants to know all that otherwise they won’t pay. I have heard of realtors selling their data base or “book of business” for as little as $1,000 to as high as $600,000 plus!

So, does it pay to get better with your CRM for when you sell or for now? The answer is both!!

I recently did a two-year volunteer project at a bible college where I identified the immediate need to implement a new CRM System. They had a database with tens of thousands of names and history of donations but no way to truly value each customer and each relationship. By implementing a new CRM, I was able to increase donations by more than 250% or $5,000,000 per year. Not bad by anyone’s metrics.

The biggest challenge I saw with folks when I was teaching for Keller Williams and CRS is that agents treated their Facebook posts better than they treated database. If you don’t manage your database, you don’t have a business.

The nice thing with Realpro systems now IHomefinder, is they have a CRM tool built into websites along with IDX and even a tool to manage your staff and your business all in one. I think it’s a great platform. I have seen agents spend tens of thousands on websites only to have it do part of the job. It may look nice but does it manage your leads, does it manage your past clients, does it manage your business and look good?

Spend time each day managing your business. Michael Gerber in his great book, The E-myth talks about the need to work on your business not just in your business. Gary Keller in the Millionaire Real Estate Agents talks about how to manager your time and leads. Both books are about working on and not just in your business.

So, have you worked on your business today?