stay ahead of competitors: crm solutions for real estate professionals
TRANSCRIPT
STAY AHEAD OF COMPETITORS: CRM SOLUTIONS FOR REAL ESTATE PROFESSIONALS
With the rising competition in real estate business, agents and other
professionals find it increasingly difficult to attract new clients. Today the buyers
have an array of choices before them, while making their investment decisions.
But for the real estate professionals, there are plenty of challenges. The main challenge
lies in intensive targeting through campaigns. Then they have to execute sustainable
follow-ups to create a strong network of prospects and transform this pool into loyal
customers.
In order to meet all the requirements, a majority of industry professionals are searching
for CRM service. Now, why CRM software has become so important for Real Estate
industry? Let’s check out its benefits.
Customer Segmentation
Customer Relationship Management software helps in effective segmentation
of the market. Proper segmentation allows real estate professionals to focus
and cater to the particular preferences and needs of each segment.
Prolific campaign can also be carried out by targeting the certain groups. It also
helps to enable all-inclusive method in planning and budgeting.
Lead Management
It also helps to leverage lead management in Real Estate business. It accumulates leads
and customer enquiries from various channels on a cloud-enabled database. You can get
real time status updates through a convenient online lead management tool.
Effective Networking
Communication has always been very important for businesses. CRM software
provides you with multiple tools and features required for effective
communication management. Hence, it helps to strengthen the client network
and allows structured sales process.
Effective networking includes two major factors-
Long sales cycle management
Immediate response management
These two elements are strongly related with customer communication. It
becomes crucial that these interactions are tracked, analyzed, and followed up
effectively. Some quick statistics can demonstrate the importance of a long
sales cycle management process.
From 1981 to 2014, the top source for buyers and sellers finding realtors has been from
referrals.
25% of agents generate more than 50% of their business from repeat clients.
88% of buyers would use their agent again or refer them to others.
42% of buyers were referred to their realtor through a friend, neighbour or
relative.
84% of sellers would use their agent again or refer them to others.
Now you know the significance of referrals and client network in generating long sales
cycle. CRM helps achieve a streamlined process for easy maintenance of client data,
including contact details and other documents. So, you can manage your existing network
effortlessly and generate new prospects.
When it comes to immediate response management, it becomes more difficult to deal
with it. Though 74% of sellers use social media, but it’s not possible to keep checking the
notifications all the time. However, over 88% of buyers expect a response from the realtor
within an hour.
Real Estate CRM includes a customizable auto-response feature that enables you to
provide prompt responses to contacts.
You might be thinking that auto-responses are so impersonal. Clients prefer
customized responses from the realtors. CRM software facilitates you to reply
to all the queries through the application.
Document Management
Real Estate is elaborate and complex. A CRM software makes document
handling easy, leveraging management of all kinds of important data.
The CRM ecosystem helps centralize vital documents and closing processes. Sales
agents can create contracts and other documents for each transaction without difficulties.
The most intense benefits are seen for companies working on multiple property sites.
In a Nutshell
Real Estate industry is the touch point for billions of customers on a daily basis.
This particular industry necessitates the need for managing a large variety of
customers with diverse requirements. Therefore, it is essential that CRM
solutions be incorporated in the business process of the Real Estate industry.
Besides, equipped with all these benefits and features, CRM is user friendly as well.
Handling CRM system can be as easy as using online facility of a bank account. It is
intuitive and self-explanatory too.