5 Reasons to Get a Custom Real Estate CRM – Why You Should Consider Getting One Today
If you're working in the real estate market then it is important for you to understand how custom real estate CRM can help you grow your business and sales.
Read this blog post to learn more about it
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A custom real estate CRM (Customer Relationship Management) system is a great tool for agents and brokers to stay organized and provide the best customer service. Learn why you should consider getting one today.
Real estate CRM software development is currently the most attractive and rapidly growing software market in the world.
Some statistics to give you a better understanding of why it is important for real estate agents to switch to custom real estate CRM for business growth. 91% of companies with an average of 11 employees use CRM. 72.5 percent of real estate agents use CRM in their work and 50 percent using CRM are reported to be more productive.
30 percent of real estate agents log in every day and 28 percent log in more than 31 times a month.
Read more on: WHAT IS REAL ESTATE CRM AND HOW IS IT IMPORTANT IN 2021?
What does CRM stand for in real estate?
Real estate CRM (customer relationship management) is software designed for small, mid-sized, and large real estate businesses to help them manage their customer-client relationships.
Companies need to stay updated and on top of things in the real estate business. Managing clients, following leads, and moving them through a sales pipeline, selling and renting out properties, and staying in contact with the clients can be time-consuming. It all can be done in a more efficient way with the help of a custom real estate CRM.
Reasons why real estate agents need custom real estate CRM
Real estate agents truly hold true to the phrase “Time is money” and still there are real estate professionals and businesses that haven’t adopted the CRM software to help them make the most of their time.
Following are the reasons to make the switch
CRM analytics for real estate data management system
Are you a real estate agent who is currently stressing over that one deal and if that is going to get closed by you? Do you wonder if spending all these hours in the office and working will yield anything or not? This is natural and something that almost all real estate agents go through over the course of time. A custom real estate software can help you figure out answers to all these questions in just a click. CRM analytics can help you make better decisions regarding deals by assessing your customer’s preferences and most & least likely behaviors. It can help you filter out who is the potential buyer and where you should be asserting your energies.
Real estate data management systems
Properly managed data and client information will help you follow leads and respond to customers better. If you will respond quickly then chances are for you to win over the client are far more than when you make delayed responses. If you have customer data updated and saved that will help you get back to existing customers fast and everyone appreciates a quick response.
This is why most real estate CRM software comes with inbuilt functionalities or mobile apps that are more convenient and accessible at all times thus allowing you to get back to your customers anytime and anywhere. You can also make sure to not miss appointments tied up with tight schedules as CRM has the ability to generate automated responses in case you personally can’t and assure your customers that you will get back to them.
Moreover, CRM software will also take care of contact management and database management. This will give you an updated history of customer interactions which will prove helpful in designing campaigns. This way you can design to provide your customers with a personalized experience.
Best contact management software for realtors
It is advisable to be more proactive in interaction with your most valued and returning customers. Even after signing the deal, you can stay in touch with them by being a part of their special occasions. Everyone appreciates a reminder on special events and that will keep you in touch with them at the same time. You can’t possibly remember to message all your customers but you can use CRM software to generate automated personalized messages and responses. This can actually improve your chances of winning a future referral or sale project.
CRM integrations boost efficiency
CRM offers a variety of integrations. You can incorporate different applications into it to make the interface smooth. You won’t have to switch between windows and devices to access these applications. This feature saves time and the hassle of repetitive tasks and manual reporting. Real estate CRM can prove great help if you have the resources and time to get one developed and customize it according to your use. For instance, you can easily incorporate your CRM with Google Apps to manage and track all your leads, files and events, and interactions from one place.
Similarly, Quickbooks happens to be one of the best accounting software and can be easily integrated with CRM. If you’re using other marketing software or property management tools, they can be easily integrated into it which lets you build your own CRM database.
Once you’ve established a name for yourself and have clients, it might get difficult to keep track of the closings and what tasks need to be completed before closing day. CRM can play a very important role in this as it can remind you of the tasks. Real estate agents can use CRM to keep track of things and make sure everything is done one time.
What makes a CRM beneficial for the real estate business?
According to Capterra, CRM has been shown to impact customer retention and customer satisfaction in real estate businesses. Salesforce claims that businesses that use CRM see increasing sales by 29%, sales productivity by up to 34%, and sales forecast accuracy by 42%.
CRM software’s biggest advantage lies in the accessibility that it offers. Cloud-based CRMs have further strengthened it like users can now access it with all the data from any device.
According to SuperOffice, in 2008, only 12% of businesses used cloud-based CRM. This figure has now increased to 87%.
According to Nucleus Research, Because of the real-time accessibility feature, it was noticed that the sales cycle was shortened by 8-14%.
Centralized client data storage
Companies store their customer’s data in excel files which can become a mess at times. Companies with ten employees shouldn’t be following such redundant ways of doing business.
This is an inefficient way of storing data as it impedes efficiency as well as isn’t accessible at all times across all devices.
Building your own CRM database offers you accessibility at all times and lets you store emails, chats, contact information, and everything in one place with the aid of an app as well.
Eliminates the fear of missing on leads
When the information of the potential leads is stored in different files across different marketing channels, there are chances of missing out on one or two potential leads. In a hurry to get back to all the potential customers on time, you might forget about a few.
Custom real estate CRM will help collect the information and leads from all the marketing channels like
Website, listing websites, social media, and marketing campaigns in one software.
Efficient lead distribution
Management and processing of leads is a task in itself. Real estate companies that don’t have the desirable tools to manage and distribute leads among property agents on time and properly might have to face some glitches.
Real estate CRM allows you to distribute and categorize properties on the basis of different chosen factors to different agents. Properties can be categorized on the basis of location, price range, area, and other preferences.
Custom real estate software for automated responses
Create email templates for different types of situations and keep track of the follow-ups. CRM won’t allow you to forget to send a newsletter to a customer or a follow-up call. The integration of all channels will enable you to reply to queries from all the platforms on time.
Customized lead quality criteria
Prioritizing your customers based on how valuable they can be and how much time you should be spending on each is a valuable resource to learn. Every lead assessing its potential should be referred to the assigned group. CRM helps you customize your criteria to better prioritize the leads and increase the possibility of lead conversion.
Filter out leads
Real estate CRM will filter out the leads by deploying different methods of login to check if the lead is qualified or not. It will also assess if they are interested in making a purchase so that you can lend them your time as required.
Track workflow and analytics
Custom software helps in tracking the business development and generates core metrics including the sales and marketing performance, performance of the agents, follow-ups, etc. This will let you assess the performance based on the data stored in the management system. Custom CRM software is very useful for tracking certain metrics.
This has been an effort to explain and guide you regarding the benefits of custom real estate CRM software and how it will prove beneficial for your real estate business or if you’re a property agent. If you are interested in building custom CRM software for your business, contact us at InvoZone. We’ll help you in building CRM from ideation to implementation.