Relationships are the bedrock of any real estate business.
If a real estate brokerage doesn’t have the perfect infrastructure to manage relationships—with past, present, and future clients, the business is poised to fail. Yet, a growing number of real estate brokerages are still relying on the archaic methods of running a business.
Picture this: According to the National Association of Realtors, agents netting $100,000 and above receive nearly a third of their businesses from referrals and past clients. Interestingly, this group of top earners spends 22% more on their software needs than the average agent.
Moreover, choosing the best real estate CRM software becomes paramount as they provide analytics and reporting capabilities, giving valuable insights into your business performance and client interactions.
That said, here are five reasons why you need to invest in a real estate CRM for your brokerage.
1. A Real Estate CRM Makes Managing Leads Easier
The digital customer expects a quick response from businesses and brands. In fact, 88% of customers today expect a response in under an hour.
But achieving this goal becomes difficult when leads are coming from multiple sources—social media, real estate marketplaces, digital ads, exhibitions, and your website. However, with a CRM, managing these leads becomes a breeze.
Your real estate CRM will capture leads from all sources and store every single detail about them in a central location. This allows your agents to access this information in a timely fashion at any time and location. A robust real estate CRM will also score the leads so you and tour agents are able to qualify and prioritize the leads that are more likely to convert.
2. Integrates with Multiple Channels
A CRM solution can also have a variety of integrations. Most modern real estate CRMs are cloud-based and will integrate seamlessly with a variety of third-party software.
This integration with third-party tools is important for any real estate business because it enables seamless communication between your company and the prospect. For example, if a lead has shown interest in your property listings at Zillow, your CRM will capture this and notify you to follow up at the earliest possible.
So, before investing in a real estate CRM, think about which multiple listing services (Zillow, Rightmove), marketing automation (HubSpot, Marketo, etc.), and personal and social real estate tools (Calendly, HootSuite, etc.) you’re already using. Then purchase a CRM that is compatible with these programs/channels.
3. Helps you Develop Strong Relationships
One of the key aspects of developing strong and lasting relationships is being reliable.
Yet, when we’re juggling multiple tasks, it’s easy to forget the little things that matter most to clients—like keeping an appointment or making a call.
The good thing about having a real estate CRM is that it provides accountability and tracking, so you’re able to manage all your appointments within the required timeframe. So if you tell a client you’ll conduct a showing on Tuesday at 2.00 PM, they know they can trust you to keep time.
4. Increases Efficiency & Productivity
Your sales team is likely often busy, jumping from one task to the other.
When they’re not coordinating housing showings, they’re following up on a lead. And when not in the field, they’re in the office performing administrative tasks. But they can only work for a few hours a day, so burnout is not completely out of the question.
A real estate CRM is all they need to stay organized and productive. A CRM will automate most of the repetitive tasks, giving your agents time to focus on more important things.
Summing Up
The importance of a real estate CRM should not be underestimated. From lead generation to relationship building to streamlining workflows and automating tasks, a real estate CRM is your best friend if you want to achieve an edge over the competition and grow your business. The bottom line: A CRM solution is essential for any real estate business looking to manage relationships and close more deals.
