Real Estate CRMs not only help you stay on track, but they can actually boost your productivity, and therefore your profits. But what does this mean? Read on to find out.
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- What Is a Real Estate CRM?
- Benefits of Using a CRM
- Best CRMs for Real Estate Agents
- Best CRMs for Real Estate Investors
What Is a Real Estate CRM?
CRM stands for “customer relationship management.” This is software for both large and small businesses that helps manage clients and different aspects of your real estate business.
This software marries together technology and real estate strategy to help you convert leads into clients, manage contacts and your relationships with them, and keep track of it all in the process.
If you’re not harnessing the power of real estate CRM software, you definitely should be. Here are some benefits of using CRM and reasons you need it in your real estate world.
Benefits of Using a CRM
Real Estate CRMs offer incredible benefits, but how can you apply them to real life? Don’t worry, we’ll break down situations to answer just that. Read on to learn more.
Increase Your Profits
The number one reason to use CRM? Your profits. Your ability to have a successful business and generate income is closely tied to your ability to follow up with people you’re trying to serve in real time.
This may be people you already know, past clients, or people that you meet. But it can also mean people you find through the internet.
If you’re generating leads online but not keeping track of them in a database, you’re missing out on opportunities to work with clients.
Pulling in leads at any sort of volume will only result in people getting lost in the shuffle if you don’t have a way to keep track of them and stay in touch. If that happens, then you’re letting potential profits slip through your fingers.
Automate Your Marketing
A real estate agent is only as good as their marketing campaign. After all, you can’t drum up business if people don’t know who you are or think of you when they need a real estate agent.
That’s why finding a CRM solution is an invaluable tool for today’s real estate professionals to help you manage marketing automation. Gone are the days of mailing out postcards.
In today’s real estate world, you generate leads online and through digital communication, such as email drip campaigns.
With CRM software, following up with leads is a breeze. You can even add a personal touch to the automated marketing sent through your sales pipeline.
It also saves you time with the nitty-gritty of marketing – and, as you well know, time is money. You don’t have to comb through your Excel spreadsheet each morning to determine who needs to be contacted that day.
With CRM, it’s automatic and ready to do the legwork for you. This helps keep you top of mind with the people you’re trying to reach.
Any marketing you do to further your business should be done in the context of relationships you are growing with potential clients and other professionals.
Without a CRM system, tracking these relationships and managing them can be a challenge. One of the best things you can do is take advantage of the relationships you already have.
Past clients are a great example of this because they may want to use your services again or recommend you to a friend, family member, or coworker. In order for that to happen, you need to stay at the forefront of their minds.
With a CRM platform, you can target past clients without using much of your day or paying someone else to contact them for you. The CRM is here to help you manage relationships and foster their growth.
Staying top of mind is crucial to your real estate business. You must stay in contact with people on a consistent, regular basis or other real estate agencies will swoop in.
When you automate using CRM, you can stay at the forefront to help referral and repeat business come your way. Did you know that the number one reason referrals don’t turn into clients is that the agent fails to follow up with them?
CRM tools make it easier to remember to follow-up with prospective clients and create consistency on that end of your business. By utilizing CRM to its fullest abilities, your communication is consistent, and your real estate business will flourish as the referrals flow in.
Use Social Media Productively
CRM tools can also help you improve your social media presence. If used correctly, it can be a game changer in your real estate business.
CRM tools can be easily linked to Facebook, LinkedIn, and Twitter. This helps you keep track of important dates, mine data to build a better understanding of your clients, and target people with specific interests.
This invaluable social media tool helps you to build your relationships. Research has shown that younger people prefer social media and text messages over email and phone calls.
These people are potential clients, so it makes sense to tap into the power of social media to help manage your customer relationships. It also helps you find out a little more about the clients you want to serve in the process.
Everyone wants to be a top-producer in their market, but that’s something you simply can’t accomplish without CRM. With CRM tools, you are more competitive.
CRM tools have been proven to help real estate agents be more productive in comparison to agents who don’t use them. Failure to manage your databases with CRM software can have a negative impact on your bottom line and career in the long term.
How many clients have you simply lost touch with over the years because you didn’t have time to follow up?
Many buyers want to work with their real estate agents again, but not many repeat buyers actually end up doing that. The biggest reason? Their agents didn’t keep in touch with them.
CRM can help you to keep in touch with past clients by allowing you to create a custom follow-up plan. You can record notes in your CRM database about your client.
This allows you to tailor interactions with them in the future, such as how many children they have. That way, you can contact them and ask how little Billy is doing at school – they’ll be impressed.
You can also create follow-up plans for clients that are completely automated to help them remember you for their future real estate needs and the real estate needs of others in their social circle.
Referrals are the bread and butter of many real estate businesses and CRM makes it easy for you. CRM tools store the names of prospective and previous clients as well as other business owners and professionals.
Perhaps one of your clients needs a pest control company – you just so happen to have the perfect company for them to call right there in your database.
Use your CRM to connect your clients with other professionals. Give any specialists you recommend a heads-up that your client is calling and they will likely return the favor with new leads to you at some point down the line.
One of the chief benefits to CRM tools for real estate agents is how it can help you to manage your closings, an important part of the sales process — perhaps the most important part.
The busier you become, the tougher it seems to get to the closing table. But you cannot afford to miss a closing in a very literal sense.
After all, no closing means no payday for you. CRM tools are an excellent way to stay on top of the tasks that need to happen before the closing day arrives.
You can create automated reminders for things such as the mortgage application deadlines and home inspections. It’s a transaction management tool that can make your life a whole lot easier.
Real estate agents usually have several streams of lead generation going on all at once, which makes staying organized crucial to success. One of the best things about using a CRM is that it helps you organize and track leads.
These could be from your SOI, website, online ad sites, direct mail campaigns, email marketing, and social media networks. Keeping track of all these streams in individual databases is inefficient and cumbersome.
With CRM tools, you can consolidate it all in a single place and access lead management and other information from all of your devices, including mobile apps on your mobile devices. It just doesn’t get more convenient than that.
Best CRMs for Real Estate Agents
As we’ve discussed, every real estate agent needs a CRM tool they can count on to help increase their sales, generate leads, and manage their relationships.
If you’ve taken a look at what’s on the market, then you’ve probably become a bit overwhelmed by the sheer number of products available. Don’t worry, we’ve compiled a list of our top choices to help get you started.
Our favorite CRMs include:
- Wise Agent – This CRM is affordable and comprehensive. It manages your email marketing, landing pages, reporting, team calendar, and document storage. It’s a simple and straightforward solution to help agents engage with their leads.
- Real Geeks – Using an IDX website, Real Geeks integrates tools such as home valuation and other custom landing pages to capture leads. SMS auto-responders and email drip systems automate the follow-up process so you can get back to selling.
- REDX – Using the REDX platform, investors can easily find expired listings, FSBO/FRBO, and pre-foreclosure properties. Using the Vortex and Storm Dialer systems, you can automatically reach out to these property owners.
Best CRMs for Real Estate Investors
The goal of any CRM tool is to help you be more productive and efficient. In real estate investing, that means being able to generate leads on both the seller and buyer sides.
Great software will give the investor an edge over their competition. If you’re a real estate investor, then look into these CRM products to help elevate your business:
- Insightly – This CRM platform is specifically designed to help you build up stronger relationships with your customer base. It allows you to track your relationships, identify strong ones, and uncover hidden connections while helping to streamline your business practices and increase sales.
- REIPro – With this comprehensive CRM, you can view over 150 million properties, view property sales, store documents, create offers and contracts from templates, and automate follow-ups with potential sellers. You can also create marketing campaigns, all from their platform.
Should You Use Real Estate CRM Software?
Bringing the best real estate CRM into your real estate operation is key. It can help you eliminate questions and streamline your operations.
All you need to do is log in each day and your CRM will guide you through the rest, helping you to conquer the real estate industry one day at a time.