Real Estate Agents Battle for Customers

A move is on to focus real estate brokers on data collection and control of information on their clients.  Brokerage firms are figuring out the fact that they are out of the loop when it comes to collecting and using informtion.  How much information do brokers need and when do they collect it? 

Brokers can get important information from potential buyers, actual buyers, renters and sellers.  The information collected on clients can be basic or it can be comprehensive.  While a great deal of data collection happens on the Internet and other places no disclosure takes place.  It's important that whatever information is collected by brokerage firms / agents on clients / customers be disclosed when it is collected. 

Sharing the information collected via a multiple listing service (MLS) can provide a major source of information for those affiliated with it.  Client data collection for long-term use is an alien concept to most agents and brokers who have traditionally run their business without having any information on their clients beyond that stuffed into a file somewhere and forgotten.

Large-scale businesses have created business models that track and service their clients but real estate agents and brokers generally do their one deal and then they forget about the clients or customers right after the closing date.  That's just not going to work in the future when eveyone else is taking advantage of developed databases.  Some are warning that if you let your clients fall off the face of the earth you will be buying customer information from the large retail firms who do a better job than you do in the near term future.



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