Customer Relation Management is the full form for CRM software. This software was developed, keeping in mind the CRM strategy. The CRM business strategy originated to serve companies by helping increase their customer base and therefore increase profitability. The founding principle of all CRM based methods is to put the customer first! Not just customers, but CRM systems provide a central place where users can focus on the organisation’s relationship with employees, vendors, suppliers and other service users. Robust data analysis through CRM will help companies make intelligent business decisions. Going by this principle, you can comprehensively understand your customers and execute cross-selling and up-selling transactions.
So, why would a Real Estate Company require CRM software? Contrary to popular belief, using spreadsheets to plan sales pitches is out-dated and a waste of revenue and time. This is where CRM software comes in. It is the driving force behind a Real Estate Company’s success. Integrated CRM software keeps track of all the customer information (old, new and prospective) and their buying history, email communication trails, changes in preferences, meetings, property proposals etc. CRM systems are timesavers, with all the mundane data entry tasks now automated, the company can focus on building a more substantial customer base, organise open hands, and analyse business performance regularly. According to a study by Issuu, agents using real estate CRM software have shown a 26.2% increase in transaction sides compared to those who did not use CRM.
In this blog we will look into the basics of Real Estate CRM and which features to look for when selecting a CRM system for your real estate company.
Real Estate CRM
Real Estate Companies are bombarded with a heavy in-flow of data all the time. The data could pertain to prospective customers, good property opportunities, sales pitches etc. An efficient CRM system shall have to navigate around this ocean of data to settle down on the best-case scenario. Conventionally all Real Estate CRM systems include the following services:
- Distributing files and sharing content.
- Email integration with external applications.
- Establishes frequent contact with clients to enrich customer connections.
- Enabling communication across employee channels through instant messaging.
- Data visualisations designed by dashboard analytics.
- Updating on current real estate industry news and marketing trends.
- Team schedule management.
- Organising meetings
- Generating Real Estate leads, warming up old leads, and tracking campaigns from start to finish with pipeline technology.
You will get all of the adobe services from most Real Estate CRM systems. What sets the best ones apart? We have come up with a list of qualities to look out for while comparing Real Estate CRM softwares available in the market. The availability of these functions are vital for smooth functioning of Real Estate Companies.
- Data Funneling: Smart CRM software will be able to automate the company’s sales funnel. Incoming data streams present unqualified prospective leads. The software knows, based on the current customer databases, which potential leads should be approached. Approached leads then go on to show signs of promising leads and eventually become customers. From the moment a customer comes in contact with your company, through your website, social media or other sources, the CRM tracks their activity. This process is automated to a high degree; companies are advised whom to approach based on previous sale activities. CRM systems learn as they go.
- Social CRM: CRM systems collaborate with social media platforms to generate and establish new leads. Real Estate companies already have detailed customer profiles, and this acts as a guide to reach out to prospective customers who have similar profiles and requirements. Social media CRM also allows Real Estate Films to extend customer support through encouraging feedback, answering queries, and addressing complaints. In this age of technology, it is evident that more than phone calls, texts or promotional emails, it is usually social media platforms which drive purchasing decisions.
- Smart Report Generation: Real Estate companies have to work with numerous variables. It is imperative to accumulate and visualize these variables and their connections with each other. Realtors need to know how their company is performing. Have they met the annual sales target? Which areas are lagging? Are commissions and selling fees being monitored? CRMs can handle multiple datasets to generate smart reports. Such reports are characterised by simple and concise charts, tables and graphics to make information comprehensible. Smart reporting addresses conversion rates, core company metrics, growth numbers etc. The current customer base, their requirements and financial statuses are highlighted to help you make lead related smart decisions.
- Priority Service: After engaging a client for the first time and making a successful sale you need to value your client’s trust. A first time client must be retained. Once a sale is completed, draw customers into more exciting deals. Through automated email services CRM systems can supply customers with exclusive information. Emails contain essential information related to home services, these are curated to every customer base’s needs. CRMs enable companies to reach a large number of customers very frequently by using sequential workflows. Sequence workflows are a series of tasks executed one after the other if certain prior conditions are met. Workflows can be customised for special dates such as sales anniversaries, birthdays etc. Receiving messages and helpful tips strengthens the customer’s trust in the company.
- Data Merging and Integration: The best CRM technology recognised the struggles of juggling so many softwares, it will eventually lead to errors. This hassle is overcome by employing direct and in-direct data integration. The most commonly used CRM integrations are; email and email marketing, calling, calendar and scheduling, social media tools, marketing automation, and service desk management.
- All emails are recorded, the CRM can refer to these to gain insight and create various customer bases.
- Phone calls from agents and customer calls to the company are stored in the CRM database. CRM systems collaborate with popular calendar tools to schedule appointments, tasks, and manage events.
- Marketing Automation (MA) is fairly new in CRM systems, but it is one of the most useful features. MA separates the general Real Estate CRMs from the Best Real Estate CRM softwares available in the market. With MA, marketing and sales teams can work in collaboration and use advanced website analytics to score multiple leads, design workflow spaces, and schedule social media meetings.
- Social Media integration tools enable companies to converse with customers individually in a real-time set up, it is a great source for meaningful data collection inspired by the customers themselves. There must be a clear channel of communication regarding customers demands and queries. This data can help design better marketing campaigns.
- Service Desk Integration is a godsend, with this there is a steady flow of information to and fro channels. Customers can approach the company with their complaints or questions. Customers are engaged readily. All information is stored in a unified control centre accessible to sales and customer service teams.
Some very important parameters to consider while comparing potential Real Estate CRMs should be:
- Installation time should be menial with least complexity. Furthermore the maintenance procedure should be mentioned in great detail.
- Level of technical expertise needed to operate the system. A lot of different kinds of employees with various skill levels will work on this platform, it’s better to choose a system with a simple user interface.
- The system should keep up-to-date with changing technologies and customer needs. The new features should be available to all users within the company.
- Mobility is very important for realtors, they are constantly travelling from site to site and need to keep themselves updated to current business developments .They should be able to access the system from home, a desktop, laptop, phone or tablet.
- The CRM system should be secure and data recovery has to be swift and efficient. When disaster strikes cloud based systems are more secure as vendors take responsibility for automatic backup plans.
Deskera CRM software is designed by experts keeping in mind the dynamic requirements of real estate companies. We prioritize building healthy client relationships. It prepares a complete coverage of the sales pipeline with real-time insights on deal statuses. Customer management is efficient and straightforward with Deskera. Categorizing contacts, importing and exporting references to other databases, communication history is displayed in neatly organized stack cards. It is not just a data storage software; it also predicts the success probability of deals, fluctuating deal values and expected closing dates based on accurate data extrapolation. CRM dashboard displays data visualizations in the form of ongoing and closed deal statistics, the performance of members and holistic progress signals.
Deskera offers pipeline personalizations to suit your company’s individual needs. Currently, the primary services available are; personalized customer email campaigns, email inbox integration, communication tracking, team management, team collaboration, knowledge-based management, deal and activity management, tickets, insights, and mobile app support. Deskera CRM is available in three tiers; startup, essential, and professional. When getting started, you can transfer all pre-existing information databases from other systems to Deskera without any hassle. We offer a fifteen-day free trial period for users to examine our CRM software and test out its efficiency.