Do Agents Really Need a Real Estate CRM?
As an agent, you need to be careful about the technology you choose. On one hand, every piece of software has a cost, and you can’t afford to buy more than you need. On the other hand, some tools can provide you with a true competitive edge, and the costs aren’t excessive. Real estate CRM software falls into the second category.
What Can a Real Estate CRM Do For You?
CRM stands for Customer Relationship Management, and you know that real estate is a relationship business. To be successful in real estate, you need to manage many relationships over long periods of time.
For example, when you get new real estate leads, the odds are they aren’t ready to jump into a real estate transaction. Many of them are just starting to think about buying or selling their property, meaning that the sales cycle to turn a lead into a client can take months, and sometimes years.
You must also manage your relationships with existing clients. Very often, new business comes from working with past clients or the people they refer to you. Therefore, it’s critical that you stay in touch with all your contacts on a regular basis. It’s impossible for one person to track contact with a long list of people without some automated assistance.
How does a CRM Benefit Real Estate Agents?
Real estate CRM software is specifically designed to assist you in managing your contacts and it provides a range of benefits.
Establishing High Value Relationships
Real estate CRM systems help you to capture real estate leads in a central location where you can nurture them with predefined lead nurturing campaigns. But a CRM is also useful for retaining your existing clients. It’s less expensive to retain an existing client than it is to find a new lead, so you want to stay top of mind with your past clients, too. A CRM does an excellent job of supporting you in reaching that goal.
Consolidating Real Estate Leads
The best real estate CRM systems will let you import contact information regardless of where they originate. That would include web forms on your website or social media sites, accounts created on your MLS software system, a Gmail account and more. It’s important to have a central location because you’ll be consistent in how you follow up, and you’ll only need to learn one full-featured system.
Tracking and Scheduling Interaction
Do you remember what you discussed with new real estate leads two weeks ago? If you’re like most agents, you’re too busy to keep all that information in your head. The CRM will do that for you. The system will save the notes you add to it during your discussions, giving you the opportunity to refresh your memory before your next contact.
The CRM should also have a calendar function to remind you of things you need to do. Nurturing campaigns usually consist of different types of contact such as personal emails, telephone calls and email newsletters. Some of the campaign is handled automatically by the CRM, but when you need to do something personally, the system will remind you of that task to keep you on track.
Do You Have a Real Estate CRM?
If not, look into it today. It will help you increase your ability to convert leads to clients, and help you to take advantage of the repeat business and referral power represented in your contact list. The difference it makes in your business growth can be significant.