Any business that wants to compete needs to arm itself with the best tech tools available
Real estate is no exception. In fact, being one of the most competitive industries around, it’s doubly important you make the right decision on your technology. Sure, we can sit around and talk about the importance of the nice-to-haves – like a VR headset, a DJI drone or a Matterport camera. But before we think about any of that, let’s focus on the basics: your Customer Relationship Management system, or CRM for short.
What is CRM?
A CRM is a widely implemented strategy for managing a company’s interactions with customers, clients and sales prospects. It involves using technology to organise, automate, and synchronise business processes. It’s the secret that successful businesses, including real estate agencies, use every day.
Real estate agencies that effectively use a CRM system put the focus on their clients, and build a bigger and better business because of it.
What a real estate CRM system should do for you and your agency
A real estate CRM (sometimes referred to as real estate software, or a real estate database) should enable you and your team to effectively service all of your clients – your prospects, appraisal contacts, vendors, buyers, landlords and tenants. Your real estate CRM should be able to market to different groups of your clients through multiple mediums – letters, emails and SMS. It should remind you when to strategically follow up your prospects and appraisals to help you walk that fine line between being remembered and being an annoyance. Your CRM can, and should, give you a competitive edge.
In this day and age, your CRM should be your listing management tool as well – it should be able to upload your listings to real estate portals, generate your brochures, stock lists and open home lists. You should be able to manage your vendor paid advertising (VPA) from within the system, record buyer feedback and generate vendor reports. It should also be able to generate contracts and track contract dates (deposit, finance, settlement dates etc.)
Your real estate CRM should offer your buyers the same level of personalised service you offer your vendors by automatically emailing and texting them anytime anyone in your agency lists a property that matches their specific requirements. Your real estate CRM should enable you to keep clients for life – it should have functionality available to follow up past buyers, and past vendors so they keep coming back to you year after year.
The bottom line is this: a good real estate CRM system will be able to manage your marketing campaigns, manage your enquiries, manage the communication with your clients effectively and streamline your account management, while helping you to build stronger relationships with your clients.