Real estate is a profession that seems to never go out of fashion. A recent study estimates that 87% of home buyers used a real estate agent and that same study found 94% of those buyers reported that they were satisfied with that experience. That’s a crucial metric for real estate agents who believe a satisfied customer is a repeat customer. While the data show most real estate agents meet their client’s needs, this can be exponentially harder during the busy spring and summer months. Fortunately for agents, there are industry specific tools – like real estate CRM – that can help turn all customers into repeat customers.
The 411 on CRM: What It Is, What It Does
Real estate-focused CRM software is designed to help agents, real estate companies, and brokers manage their businesses. A well-organized CRM database helps with sales, marketing, information management, reporting, and can foster stronger customer relationships. CRM makes an agent’s last interaction with an old client available with just a few mouse clicks. In addition to staying on top of every touchpoint, this platform provides a host of other benefits. For example, with CRM software, agents and brokers can review customer communication preferences and latest interactions. This opens the door for more targeted marketing, especially if the real estate CRM includes robust marketing automation technology.
Marketing automation software goes hand in hand with CRM and helps businesses craft targeted email campaigns. Automated campaigns are more effective and reduce the level of effort required to optimize conversions. Past customer interactions should be leveraged to create customized templates at the push of a button – but with the touch of a personal note.
Real estate CRMs are also excellent tools for managing pipeline and monitoring sales volume. More sales mean more income and with CRM, agents can securely track details about each transaction.
Additionally, real estate CRM can help agents reduce time spent on administrative tasks. The organizational tools featured within a CRM can boost productivity – like by auto-scheduling client outreach or deal milestones – meaningfully increasing the amount of work one agent can do! Velocity is the combination of speed and direction – real estate CRM enables operational efficiencies across sales and marketing.
CRM and marketing automation that is designed to power real estate operations can provide an optimized, automated client interface. The insights derived from these data allow an organization to better understand (or anticipate!) its customers’ needs and engage with them more effectively and more personally.
First, Pick a Platform
CRM solutions can vary depending on your business’s needs, but first comes a deployment decision: cloud-based software or local (on-premises) CRM software.
Cloud-based CRM software is the best deployment option for companies that seek software-as-a-service (SaaS) because it alleviates systems maintenance and ensures continual updates. Cloud solutions also accommodate secure access from any web-enabled device, perhaps of particular importance for agents always on the go.
On-premises, or locally installed CRM software, is a solution preferred by businesses that want total control over data residency and security, and operate on-site and in-office. This type of software requires the business to ensure uptime and manage software upgrades. It may also limit logins to local machines, tethered to a company’s internal servers.
Don’t Forget Marketing
Leveraging your client and contact data to inform communications is what savvy agents have been doing for years. Software can now automate much of that proactive communication or eliminate the rote follow-up messages. Start with a full audit of the business: define how work gets done now and identify what can be done to improve upon existing processes. This knowledge is crucial when deciding which CRM to buy, regardless of deployment models.
While agents and brokers can see immediate value from a real estate-focused CRM, there are benefits to implementing such a system as part of a broader real estate marketing strategy, because a well-devised marketing strategy will optimize the return on any outreach. There are even more benefits to selecting a CRM that is fully integrated with a robust marketing automation system.
Why Wait?!?
Time is money. Real estate focused CRM and marketing automation is table stakes, and waiting to upgrade your client communications game is costing you. Obviously, do your homework. Choose a CRM that fits your needs and your budget – plan for any implementation of usage based charges. Be sure you try before you buy and get input from stakeholders within your organization. No matter what option makes the most sense for a specific business, the savviest real estate professionals will know that nothing beats a good CRM tool – a scheduling, communication and workflow engine that helps modern agents and brokers do more with less.