A successful real estate agent is a master multitasker, and before CRMs, only the experts at managing and scheduling tasks made a decent income.
There are so many things on your plate that it’s easy to miss something like a timely follow-up or update, which can negatively impact maintaining a close connection with your customers. However, today tech is every real estate agent’s friend. There is no excuse for missing a follow-up call or open home as a CRM solution competently manages all tasks.
If you’re in real estate, you know the Latin term caveat emptor translated in English as buyer beware. Well, the same applies to all technology insofar as it is only as good or as valuable as the data captured in it. Therefore even the best CRM software will only be helpful when it’s used appropriately.
In real estate sales, the CRM is a centralized system where users with access can add, update and view Agents’ activity, including leads, listings, updates, feedback, prospective buyer enquiries and sales contracts.
Technology only works well when the user knows how to use its features. Did you know most software users typically use 20% or less of features? What’s more, 30% of features are never used.
Use More CRM Features
As a Real Estate Agent, how do you become an anomaly and use most CRM features?
Well, you need to apply a two-pronged approach. The first action is to familiarise yourself with the essential features that you will use all of the time. It’s these functions that will immediately improve your productivity.
Once you’ve gained confidence with the CRM, delve deeper with training on the other features that will save you time and assist with ‘working on your business’ – i.e. reporting. Get your team up to speed on how to use CRM operationally in your business. If we were to look at just one way a CRM can make a big difference for your real estate business, it would be marketing.
CRM For Marketing
So here’s how you can use a CRM the right way to optimize your marketing funnel as a real estate agent:
Narrow Your Focus
As the Pareto principle states, 20% of your effort bring 80% of the outcome. It’s equally valid for the real estate market. Usually, a thorough analysis of your customer database may get you to the decision to stop scattering the efforts trying to attract many leads and focus on fewer clients that are ready to buy.
A CRM allows you to prioritize the leads and tailor the custom communication approach to maximize your marketing efforts.
How many tools does your team have to use to cope with their daily tasks? Google calendar, email, contact form submissions on your website, and VoIP systems are to name a few. The good news is that with CRM, you can bring all these tools together to function as a single source of truth.
By aggregating contacts and conversations from other systems, you will save time switching from one tab to another to more exciting activities. You may also connect the current marketing system with the CRM to see how the campaigns perform and other CRM activities. Plus, consider integrating software for calls, so conversations are recorded.
Remember, it’s the law to let the other person on the call know you are recording the conversation. Please don’t shy away from recording, though, as it’s vital for reviewing details and setting up tasks to action by you or someone in your team.
Set up Automated workflows
One of the leading CRM benefits is the automation of simple tasks. Set and forget actions implemented within the CRM frees up you and your staff to do higher-value work like more customer meeting
Some examples of automated workflows in real estate sales are:
- automatic buyer enquiry follow-ups
- reminders including birthday greetings, anniversaries etc
- checking contract terms
- processing website visitor enquiries
These may be simple even when processed manually, but when there are 100 or more clients, most likely, you will forget about some important events and, with a sales contract, get it wrong, and the deal may fail. Using CRM for automation is an effortless way to maintain regular communication with people from your contact list, increasing the chances of referring new leads and retaining existing customers.
Lead segmentation by certain attributes like industry, requirements, budget, and other criteria can help you use a more personalized approach. Thus, your offerings will correspond to the expectations of each user category. Also, dividing your client database into groups will have a beneficial impact on marketing campaigns analysis. You will receive more powerful insights into what works better for a certain segment and adjust your approach.
CRM software is a game-changer for managing your business as well as a platform for assisting with marketing and promoting your real estate agency brand.
The only thing left to do is choose the right CRM, which is not something you’ll do overnight. Do your research, know what you need the CRM to do and ask the right questions. Bring in a team of experts who know your existing tech setup and integration requirements to assist you. Test several demo versions before committing to a CRM that can take your business to a new level.
Now you know about CRMs, do you want to know how AI Bots are changing real estate?
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