Are you aware that you can increase property sales by up to 29% with real estate CRM software?
The real estate industry is quite demanding and you may be having trouble keeping track of your appointments with prospects.
Have you ever 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? Do you feel that you just can’t keep up?
If your answer is a resounding ‘yes,’ then it’s time to consider investing in real estate CRM software.
In this article, we will take an in-depth look at what real estate CRM software is. We will also explore how real estate CRM software works, why it is important and so much more.
What is Real Estate CRM?
Real Estate CRM refers to CRM software that handles customer relationship management within the real estate industry. It enables realtors to build, manage as well as sustain meaningful relationships with customers and leads. These constitute the role of CRM in real estate.
As such, a real estate CRM is an organized system that acts as a centralized storage space. The role of CRM in real estate is to store business leads, sellers as well as customer data. This information includes 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 software available on the market – desktop applications and cloud-based applications.
1) Desktop real estate CRM software
One type of CRM in real estate is stand-alone programs that are exclusively used on laptops or sometimes desktop computers. They always require user’s access to a particular host computer in order to run these applications.
2) Cloud-based real estate CRM software
The second type of CRM in real estate are applications that run via the web. This real estate CRM software are 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 software solutions are the most commonly used choice and are preferred by realtors.
Features of Real Estate CRM software
An ideal real estate CRM software will have the following features:
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A daily plan calendar
One of the most important real estate CRM features, this assists real estate agents and site managers to collaborate. This occurs through a mobile real estate CRM app.
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Graphs of projects
This real estate CRM feature provides a graphical view of real estate-related projects and the status for every availability/booking.
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Reporting and analytics
Features of real estate CRM software 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 real estate industry is highly important as it provides a centralized solution for connecting multiple touchpoints. Two points of importance to be highlighted are:
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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 a real estate CRM system tracking them in real time, property managers would waste time on follow-up calls.
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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 software 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 real estate CRM software, you can close deals more easily and build many successful relationships with clients.
Read Also: How Real Estate Can Leverage Cloud Telephony?
The advantages of a real estate CRM for agents
Real estate CRM software can be an extremely useful CRM tool for you as a real estate 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:
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Helps you capture all possible leads
Perhaps the biggest challenge that every real estate agent faces is letting valuable leads slip through the cracks. However, with good real estate CRM software, 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.
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You will have a comprehensive view of your sales pipeline
Real estate CRM software makes it easy to access deal-related information and find out if it’s stuck somewhere.
For example, let’s say you’re working on a few deals. Many of them have been qualified as leads and there has been contacting 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 inform you when deals have moved from one stage to another. Thus, you keep an eye on your deals.
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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, the role of CRM in the real estate industry is huge. 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 real estate CRM features like the virtual phone system to build trust and appear more local.
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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.
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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, and 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.
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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, evaluate team performance and effectively plan business strategies.
How to choose the best Real Estate CRM software
An ideal CRM helps you better handle and maintain all aspects of customer relationships.
These mainly include current clients selling a house and past clients who’ve used their brokerage to buy/ sell their home. It also includes future clients who’re interested in buying a house but not ready to move forward with the process.
While on the search for the right real estate CRM software for your company, here are some of the important features you should look for:
- Calling Integration
- Generation of leads
- Marketing Automation
- Campaign Tracking
- Social Media Integration
- Email Marketing
- Reports and Analytics
Keep all these real estate CRM features in mind. If you do, you should be able to choose the best real estate CRM software that’s right for you.
Also read, Best tools to enhance real estate prospects management.
Conclusion
Overall, real estate CRM acts as a method of centralizing all your sales channels and customer communication process. All these processes on one platform make it easier to manage customer data and access it at any time.
Moreover, real estate CRM software 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.