The real estate industry is overflowing with businesses losing their business to inefficiency.
Nearly 40% of agents lose potential leads to poor follow-up processes.
Today, brokers and agents must arm themselves with more than everyday tools to gain a competitive edge. One such tool is customer relationship management (CRM), which solves this problem greatly.
Having a CRM in your real estate workflow allows businesses to:
- Generate and manage leads
- Boost existing client relationships
- Increase revenue
Interestingly, however, that’s not all. There are multiple ways a CRM can streamline your operations. But with hundreds of options popping up in your search results, which software is the best CRM for real estate?
Let’s find out as we learn more about the different steps involved in choosing the best CRM for your real estate operations.
What Is a Real Estate CRM?
A CRM is designed to centralize and analyze lead and client data, including contact information, sales history, service requests, and marketing initiatives. Real estate CRM software provides a single source of information that can be referenced throughout a client’s lifecycle – from discovering outreach opportunities to handling post-close contacts.
In real estate, it’s not just for storing names—it’s a handy tool that helps agents manage their whole business.
Special for Real Estate
It’s different from the usual CRMs out there. Real estate CRMs are made to keep track of homes, listings, and clients. They’re built for the property world.
Keeping Up with Leads
Leads can slip through the cracks. A real estate CRM keeps tabs on who’s looking, ready, and taking their time.
Easy Follow-Ups
Following up is super important. The CRM reminds you to check in so clients know you’re there to help.
Closings and Marketing
From start to finish, the CRM stores contracts and sends out updates. It can even send out newsletters or open house invites.
A CRM isn’t just a customer interaction tool; it transforms data into readily available insights, empowering the workforce to strengthen connections and identify operational efficiencies.
A CRM allows real estate businesses to discover new sales possibilities and create highly tailored interactions to improve customer interactions.
Key Benefits of Using A CRM in Real Estate
Lead & Pipeline Management
Handling multiple leads coming from different platforms can feel like a double-edged sword. You can make mistakes while using various platforms. However, that’s where a real estate CRM automates the process for your team.
It collects data from numerous channels – SMS, email, phone calls, or social media and stores it on one platform for seamless communication and nurturing. Similarly, realtors can monitor sales pipelines for opportunities using CRM.
The ideal real estate CRM streamlines lead generation, lead management, and lead nurturing, moving leads through the pipeline from initial website visit closing transactions.
Improved Response Time = More Conversions
A prompt reply is the key to a successful sale in real estate. For instance, when someone messages about a listing, you want to answer fast to keep up with your customer’s interest and improve your chances of closing them.
However, things can become challenging when leads are approaching from different platforms. Traditionally, you must stay updated with notifications across various platforms.
But that’s not the case with a real estate CRM. It shows notifications from individual platforms over a dashboard, so you don’t lose track or forget to reply. Fast answers make the difference between getting a deal and missing out.
Team Collaboration and Task Tracking
Selling homes isn’t a one-person thing. Everyone has to work together. A CRM makes it easier to see who’s doing what. No guessing if a call got made or a showing got set up. Everyone can see the same stuff, which makes it simpler.
You don’t have to chase down answers or get stuck waiting. Everyone’s on the same page and has the correct data to take accurate measures for successful conversions.
A sound real estate CRM in your workflow lets you stay aligned with your team’s tasks. Its intuitive dashboard gives you insight into the operations, making it easier for everyone to work as a team.
Automation of Repetitive Tasks
Busy real estate agents do not have time to update CRM facts manually or do repetitive CRM chores. That’s why an intelligent system will handle data input and process automation, freeing real estate salespeople to focus on closing transactions.
Consider whether your CRM can send automated follow-up emails, change deals based on specific triggers, send property alerts, or notify agents of upcoming listings.
Some real estate CRMs include helpful AI assistants who recommend the best next steps, flag transactions requiring immediate attention, and automate sales sequences.
Centralized Customer Data & Analytics
Real estate agents must be able to examine their previous transactions and activities to improve their future performance and determine how distant they are from meeting their goals.
Quality real estate CRMs include extensive statistics and graphic dashboards outlining critical sales indicators such as:
- Average commission
- Days on market (DOM)
- Sales volume
When planning to integrate a CRM into your operations, look for one that allows you to filter reports effortlessly to find and share vital information.
Essential Features to Look for in a Real Estate CRM
Not every CRM is made for the fast-moving world of real estate. Here’s what you want to look for:
- Lead Capture:
This helps capture leads from your website, social media, and big portals like Zillow and Realtor.com. No more leads slipping through the cracks—it all goes straight into one place.
- Automated Follow-ups:
Staying in touch is key. Automated messages and reminders ensure you keep in touch with clients, even on your busiest days.
- MLS, Email, and Social Media Integration:
A good CRM pulls everything together—listings, emails, and social posts—so you don’t have to juggle multiple platforms.
- Custom Workflows for Agents and Brokers:
Every team works differently. A CRM should let you create workflows that match how you like to sell and follow up.
- Mobile Accessibility:
You’re always on the go in real estate. Mobile access means you can check in on deals, leads, and updates no matter where you are.
- Reporting, Analytics, and Forecasting:
This feature helps you see trends and make smart decisions. You’ll know what’s working and what might need a tweak.
- Campaigns and Marketing Automation:
You can automatically send out updates, newsletters, or new listings to ensure you’re always on your leads’ minds.
- E-signature and Document Storage:
Paperwork slows you down. Look for tools that let clients sign right from their phone and keep all your docs in one secure spot.
How to Choose the Right CRM for Your Real Estate Business
Define your needs:
Determine whether you’re a solo agent who wants to keep things simple or part of a big team that needs more features.
Match features to workflow:
Ensure the CRM has the tools you’ll use—there’s no point in paying for extras you don’t need.
Prioritize ease of use:
Choose something your team can learn quickly. Integrating a real estate CRM into your operations won’t help if no one wants to use it.
Watch your budget:
Set a number that feels right. Before signing up, check for extra charges, such as add-ons or set-up fees.
Check support and help:
Good customer service is a must. See if your chosen CRM will help you get started and answer your questions.
Mistakes to Avoid When Choosing A Real Estate CRM
You must follow a few basics to ensure the right real estate CRM software for your business. Here’s a quick list of the mistakes to avoid while choosing a real estate CRM:
- Picking based on popularity, not functionality: Never finalize a CRM based on its popularity. Check whether its features and functionality are the right fit for your business.
- Ignoring mobile usability: Is your CRM mobile-friendly? You’d never want to invest in a CRM that’s only accessible via in-house systems. Choose flexibility over rigidity.
- Overpaying for features you don’t use: The market is flooded with CRMs offering very advanced features. While finalizing your software, ensure you pay for the ones you use.
- Not testing with a free trial/demo: Never buy a real estate CRM before testing or a demo. Testing the software before finalizing it ensures you have the right product in your system.
Conclusion: Make Your CRM Work for You
Having a CRM in place can help you navigate through the ups and downs of your real estate operations. The ideal real estate CRM should help you manage client data, optimize procedures, analyze opportunities, get insights, and interact more efficiently.
Planning to change the way you operate? Here’s how you can find your ideal CRM:
Step I: Shortlist the top three options.
Step II: Test the software for 14 days.
Step III: Finalize your option and switch to a paid plan.
At Solv, we help you resolve the hurdles of your everyday real estate operations with our SolvCRM. Explore more about our software with a free trial today.
Jigesh Shah
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