Real estate CRM: good or bad?
What is a real estate CRM ?
A real estate CRM is software that manages client data and tracks interactions of clients in the real estate industry. It automates the workflow of a real estate agent. The aim of real estate CRM is to assist the real estate agents to close more deals quickly and improve efficiency throughout the workflow. With the help of a real estate CRM, a real estate agent or broker can ensure better deal management, lead management, client tracking, and improve oversight. The tool enables you to identify where the buyer is in the workflow and to concentrate on hot prospects. The various reporting tools present in the real estate CRM help the managers to get the maximum view of the sales pipeline and to identify road blocks and take necessary actions to remove them. Of course, some features are very specific to real estate as well.
Feature #1: Listing Management
Inventory listing management is a powerful feature of real estate CRM that helps to generate the maximum leads for your property listings. Efficient and competent listing helps to gain more marketing exposure by listing your property to a wider audience within a short time thus adding value to your investment. You can list your property to various real estate portals to get the maximum visibility for your specific property. It is one of the most important features of a real estate CRM that helps you to sell your property at a quick pace. Most real estate CRMs have the feature to integrate with the MLS provider. Through listing and inventory of the right information, you can get the maximum leads, right buyers and thus happy customers.
Feature #2: Multi-posting features
When it comes to real estate sales, it is important to have maximum visibility for your listing. An essential feature your real estate CRM should have is the ability to multi post. Using the multi posting feature, you can post your property listings in various general or real estate websites across the state or country. This helps to generate a lot of leads and they can easily be converted into potential buyers. It is more far-reaching and not tied to a local area. When you are doing multi posting, it is essential to verify that integrity of the website. The website you are going to post your advertisement should be capable of generating good and strong leads. By posting in multiple sites like Craigslist, Zillow and Trulia, you can easily find the best buyers and get the maximum attention from potential buyers for your real estate property quickly.
Feature #3: Client relations
A real estate agent, to become successful, should have effective ways to track and maintain client relations. For effective communication with clients, emails are not enough. Good real estate CRM software must have options to tracks calls, meetings and other means of communication. You need to get 360-degree view of client activities as it helps in enhancing, managing and analyzing your clients. These features give the team members a clear picture of what to do to convert the leads into potential customers. By maintaining complete information about the client, it is easy for managers to create personalized campaigns targeting specific leads so that you provide the right information at the right time to the right customer.
Why generalist CRM software are less relevant?
The main issue with generalist CRM software is that they follow a one-size-fits-all approach. This approach may not satisfy every user requirement. You should have a specific CRM suited to your industry needs if you wish to fulfill the requirements of the users. In a generalist CRM, the interface is usually standardized and you may miss out on simple but real estate specific features. Another common issue you can find in generalist CRM software is that it does not focus on the priorities of your industry. Metric that is crucial for your industry may not be equally important for other industries. So, you need to use industry-specific CRM software like real estate CRM to help you with your property listings. Also, in most cases, generalist CRM software do not integrate with your industry specific tools thus making it difficult for you to manage your day-to-day activities. Therefore, it is very important for companies to focus on industry-specific CRM software to meet their demands.
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