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Do you have trouble keeping track of your appointments with prospects? Have you missed out on securing a deal by just not being at the right place at the right time?
Ever just felt that the hustle-and-bustle of working in the real estate industry can be a little much at times, and you just can’t keep up?
If your answer to all of these questions is a resounding ‘yes,’ then it just may be time you consider investing in a real estate CRM.
In this article, we will take an in depth look at what real estate CRM is, what makes it tick, why it is important and so much more.
What is Real Estate CRM?
Real Estate CRM refers to software that handles customer relationship management in the real estate industry. It is the means that enables realtors to build, manage as well as sustain meaningful relationships with customers and leads.
As a software, real estate CRM is an organized system that acts as a centralized storage space. It stores business leads, sellers as well as customer data. This information includes that of potential leads, and new and current customers.
Moreover, this information can also include details about user interactions, lead generation channels, communication and purchase history.
Read: A complete guide on CRM
What are the types of Real Estate CRM software?
There are two main categories of real estate CRM available on the market – desktop applications and cloud-based applications.
Desktop real estate CRM
These are stand-alone programs that are exclusively and locally used on laptop or sometimes desktop computers. They always require user’s access to a particular host computer in order to run these applications.
Cloud-based real estate CRM
These applications are run via the web and accessed through the internet from remotely located servers. Furthermore, you are able to access your data anytime and from anywhere. You only need to have an internet connection along with the necessary log in details to do so.
Nowadays, cloud-based real estate CRM solutions are the most commonly used choice and preferred by realtors.
Features of Real Estate CRM software
An ideal real estate CRM software will have the following features:
1. A daily plan calendar. This assists real estate agents as well as site managers to collaborate via a mobile real estate CRM app.
2. It provides a graphical view of real estate-related projects and the status for every availability/booking.
3. Features like reporting and analytics functionalities allow you to track and monitor your team’s performance. They also determine how ROI is affected.
Why is Real Estate CRM important for the Real Estate Industry?
A CRM in the realm of real estate is highly important as it provides a centralized solution for connecting multiple touchpoints. Two points of importance to be highlighted are:
With a CRM, you can easily schedule and keep track of client meetings
In the real estate industry, client meetings are quite frequent. It isn’t always easy to keep track of them, but you also can’t afford to miss any.
Without having a CRM system in place for tracking them in real-time, property managers would waste a lot of time on follow-up calls.
Sharing daily real-estate collaterals with the team is much simpler
Real Estate collaterals are required to be shared with the team and clients you interact with every day.
A real estate CRM allows for one-click collateral sharing straight from your mobile application. In this way, you won’t have to juggle multiple sheets and files.
The importance of Real Estate CRM for realtors
Real Estate is mostly about building trust rather than just closing deals. In fact, a large number of sales occur due to referrals from current contacts, previous clients, friends, family or relatives.
When it comes to the business side of real estate, selling or buying can be a very long process. Moreover, it can include multiple follow-ups and re-negotiations.
In these scenarios, utilizing real estate CRM software provides realtors with an efficient method to perform multiple business processes.
For example – managing contacts. Monitoring their pipelines, scheduling tasks as well as helping them stay organized. With help from real estate CRM software, you can close deals much more easily as well as build many successful relationships with clients.
The advantages of a real estate CRM for agents
A real estate CRM can be an extremely useful tool for you as an agent. In fact, if you feel that you’ve been lacking in some aspects, then it may just be exactly what you need to overcome barriers and get through to more customers.
Using a real estate CRM not only increases your productivity but also helps you build credibility amongst customers. Here are some more ways you as an agent can benefit from using real estate CRM:
Helps you capture all possible leads
Perhaps the biggest challenge facing every real estate agent is letting valuable leads slip through the cracks. However, with a good CRM tool, all your leads from popular listing platforms can be captured easily.
Real estate agents can capture leads from multiple property listings using a cloud-based CRM. Additionally, you can access them in a streamlined manner and therefore, increase the number of leads you convert.
You will have a comprehensive view of your sales pipeline
CRMs make it easy to access deal-related information and find out if it’s stuck somewhere in the process.
For example, let’s say you’re working on a few deals. Many of them have been qualified as leads and there has been contact initiated with them. But, two deals are currently in negotiation, and are almost set to close.
Now, if they did not have a clear picture, most agents would concentrate on finding new prospects. Instead, they should be directing their attention towards negotiation and making those two sales.
Hence, with a proper CRM, notifications can be set up to inform you when deals have moved from one stage to another. Thus, you keep an eye on your deals.
Stay constantly connected with all your prospects
The real estate industry can be quite competitive. Even the slightest delay may lead to your prospect reaching out to another agent for alternate property options.
As such, a real estate CRM would help you execute email sequences. These would send a series of emails to potential clients and inform them about the current real estate industry scene.
Furthermore, you can also use CRM features like the virtual phone system to build trust and appear more local.
Drip campaigns will be a breeze for you
The execution of targeted and personalized email campaigns lets you build creativity while also identifying hot leads. Based on your contact’s actions, you can carry out drip campaigns.
Say for example, your prospect registers to find out more about a certain property. Once they sign up, you can add them to an automated drip campaign. Then, you can easily share all information as well as resources about the neighbourhood they’re interested in.
Allows for the seamless management of customer and business data
Being part of real estate often comes with a lot of paperwork. From deeds, to purchase agreements, mortgage documents to insurance, you need to handle all of that data. While paperwork is a must in the industry, you cannot just rely on that.
With digital documents as well as contracts, you can have on-the-go access to any information right within your CRM.
Enhances your performance by providing insights.
No need to rely on guesswork any longer. With insights, you can easily examine and analyze your business’ performance.
Using real estate CRM lets you access insightful and custom reports, helps you evaluate team performance and plan business strategies more effectively.
How to choose the best Real Estate CRM software
An ideal CRM aims to better handle and maintain all aspects of customer relationships.
These mainly include current clients selling a house, past clients who’ve used their brokerage to buy or sell their home and even future clients who are interested in buying a house but not ready to move forward with the process.
- Calling Integration
- Generation of leads
- Marketing Automation
- Campaign Tracking
- Social Media Integration
- Email Marketing
- Reports and Analytics
If you follow and keep all these features in mind, you should be able to choose the best real estate CRM software that is right for you.
Overall, real estate CRM acts as a method of centralizing all your sales channels and customer communication process. All these processes collected on one platform makes it much easier to manage customer data and access it at any time.
Moreover, real estate CRM software also lets you set reminders, send follow-ups and schedule appointments all with a single click. This automation of simple tasks can greatly save realtors and agents time and energy.
These are just a few of the many ways real estate CRMs can make your real estate business operations run much more smoothly.
All things considered, investing in real estate CRM is truly the key to thriving in the real estate industry.