Real estate software CRM holds great information about users’ search preferences and helps in acquiring leads. Thereby you can use the collected data to find what they are searching for and easily convert them to buy.
This blog is going to be more informative for you, specifically for real estate developers, channel partners, brokers, and real estate sales executives. Here, I’ve brought to you a complete tutorial on how Real Estate CRM software helps to improve sales and how it works.
So, I’m going to cover various areas with lots of information that you should know. Because this new technology is predicted to be the real estate business’s future, you can generate ample revenue in the upcoming years. So, without delay let’s understand it in detail.
Before briefing you in detail, I would like to expand the abbreviation of CRM which stands for Customer Relationship Management. It's technology or you can say software and the term denotes, managing all your company’s relationships and interactions with customers and potential customers.
The emergence of advanced technology has captured the business world and real estate is no longer untouched or unaware of it. In fact, real estate is the only domain that is highly dependent upon it. Because it helps to provide information or data in facts, generating leads and maintaining a long-term relationship with customers which is the most effective strategy to get success in the business. Real estate CRM software helps to improve sales in various ways, let’s have a close look: -
Database Management- Closely associated with real estate CRM, where you have to manage all the available properties to target prospects. You need to do strategic planning of the property with the help of an automated marketing tool.
Capturing Lead- After planning and implementing CRM it can track the customer interests on the property and which helps in the lead pipeline management so that sales executives can show the clients their preferences with the help of a pop-up alert or reminder. And when the customer gets such an alert automatically, they visit the site and show their interest which will help to generate a lead.
Marketing Automation- Marketing plays a crucial role in any business hence to make this step more effective here the software assists with two-way email synchronization and auto communication which helps boost sales.
Proper Documentation – It’s quite an easy part with CRM software. As we all know to keep or maintaining documentation is always tiresome and sometimes it comes with errors. Whereas it is easy to store data or other information and go paperless, soft copies here will save you time and help you keep error-free documentation management.
Nurturing Leads –The best part is, once the lead is generated in CRM, you can send auto emails, and SMS and can run campaigns on an everyday basis. Also, you can take individual follow-up actions that eventually nurture the lead and makes it ready for sale.
Mobility – You can access the CRM sitting anywhere. Whether you are in travel, or whether you are out of the office, you can manage your offers, deals, and closing sales from anywhere.
Generally, CRM application comes in three types such as – Operational, Analytical, and Collaborative with different features and services.
Operational CRM
Such CRM works or keeps the information and records the data of customers precisely. Operational Real Estate CRM works in 3 steps which include sales automation, marketing automation, and service automation. The purpose of such CRM is to generate leads, convert them into contacts, and capture each detail so that it can provide the service as per the customer's expectations.
Let’s understand these 3 steps in more detail:-
Sales Automation
In this process, it maintains a standard with the organization to acquire new customers and simultaneously deal with the existing customers. Sales automation’s primary purpose is to make the sales process automatic. Hence, it precisely keeps the information in a systematic format by which it can meet the customer’s needs and provide them with exactly what they are seeking which is a great way to increase sales. In an operational CRM, the sales modules work in this way- lead management, contact management, Quote-to-Order management, and sales forecasting.
Marketing Automation
Now comes Marketing automation whose primary purpose is to find the best way to reach potential customers. In this step, it manages the campaign, which is the most effective way to market your product via effective channels like emails, phone calls, ads on social media, face-to-face meetings, etc.
Service Automation
In this process, it offers the best quality services to the customers and helps to build a strong relationship with them. Here the process works as issue management where they fix customer’s problems, customer call management to handle incoming as well as outgoing calls, etc.
Analytical CRM
When it comes to management, marketing, sales, and providing customer service the Analytical CRM application stands out as the best option too. Data analysis is the prime function of such a type of CRM application. Hence it collects customer data coming from different touch points which helps an organization understand its customer’s search intent.
By this management will be able to understand and take better decisions, and marketing executives can run campaigns effectively to target the customers which will improve sales. Moreover, such an effective or you can say planned method will surely build a strong customer relationship.
Collaborative CRM
Alternatively known as strategic CRM which shares customers’ information with various business units like the sales team, marketing team, technical and support team. For instance, feedback from a support team is useful for the marketing team to approach the customer with a specific product.
In the real world, each business unit works independently in a group and rarely shares any information or customer data with other teams, they keep the records to themselves which causes business losses.
Whereas in Collaborative CRM each business unit must share the data and feedback with a team helps to unite all groups to aim towards one goal. It not only helps you to have a clear understanding of the customer you are serving but it will help increase sales value.
CRM generally helps in storing data about your clients and collects information about the clients which helps agents to manage the relationship between the buyer and sellers the possibilities are agent can successfully convenience the client to buy which is called a conversion. This helps sales improvement.
How to choose the best Real Estate CRM software?
A CRM can boost your business hence while choosing the best as per your need is obviously a tough task but however, but you have to go in-depth before confirming it. So here are some 7 basic points to keep in mind to find out the best one.
HubSpot– Hubspot CRM is designed to help sell faster and better. This CRM is featured with contact management, email templates and meeting schedule. You can create personalize appointment scheduler and can add live chat and can integrate the CRM with your company’s apps.
For real estate agencies, this is an ideal option as HubSpot is part of the Sales hub it comes with Marketing Hub, CMS Hub, and Service Hub which carries great functionality within.
Key Features of Hubspot
| Type | Price |
| General | Free |
| Starter | $45/ Month |
| Professional | $ 450/ Month |
| Enterprise | $1,200/Month |
Zillow Premier Agent CRM
Key Features
Price: Free
Salesmate for Realtors
Key Features
| Type | Price |
| Starter | $ 12/User/Month |
| Growth | $ 24/User/Month |
| Boost | $40/User/Month |
Agile CRM
Key Features
| Type | Price |
| General | Free |
| Starter | $8.99/User/Month |
| Regular | $29.99/User/Month |
| Enterprise | $47.99 /User/Month |
Streak CRM for Real Estate
Key Features
| Type | Price |
| General | Free |
| Solo | $15/User/Month |
| Pro | $49/User/Month |
| Enterprise | $129 /User/Month |
Apptivo
Key Features
| Type | Price |
| Lite | $ 8 /User/Month |
| Premium | $12 /User/Month |
| Ultimate | $20 User/Month |
Bitrix24
Key Features
| Type | Price |
| General | Free |
| Basic | $49/Month |
| Premium | $99/Month |
| Enterprise | $199/Month |
Wise Agent
Key Features
| Type | Price |
| General | $32/Month |
| Custom | $326/Month |
Pipedrive
Key Features
| Type | Price |
| Essential | $12.50/User/Month |
| Advanced | $24.90/User/Month |
| Professional | $49.90/User/Month |
| Enterprise | $99/User/Month |
Propertybase
Key Features
Price: Contact property base for Pricing
Generating leads is not a quite tough task and there are various ways to generate but in real estate business, they primarily focused on quality leads. That indicates the clients or buyers are genuinely showing their interest in the company product and making minds to buy.
Get a clear view
So in this case, CRM helps a lot, it collects the data or information of clients and records it and understands the search intent ofclients and presents the customer with what they need. In a CRM you can target the customers by tracking their fields and can create a genuine lead or quality lead where you can give your time and expect conversion.
Marketing Automation
This is the best way because in marketing automation suppose you are not available to take a follow-up of your potential customer, it can send them an email and remind them this you can take the follow-up. You can use BAASS Alert tools for an automation process.
Cleansing and Building your List
Suppose your CRM has old or incorrect data from previous years' records or still it is not closed, not showing any sales or transactions then it can be disturbed for the team members. So it is better you can grab the fresh details of that existing data and start working on it and if you have already lost the connection with that client then simply close it or add a new list.
This is the most vital step while the conversion of a lead because if you are not cleared the old data and keep it, that can cause lower sales.
Choosing the right CRM tools always helps in the growth of your business. So if you are new to CRM tools then always go in depth before buying the tool and if you belong to the real estate business then double sure about it and use it surely it will soar your business high.
What does CRM do in real estate?
In Real estate CRM plays a crucial role, it records all data whether it is client information, transactions, sales deals or contracts in a precise manner and allows you to manage a relationship between buyers or sellers and you can access it from anywhere. Moreover, it improves sales rate and some CRM come with different features with auto operate features where the process allows you to do the job more efficiently.
Why do realtors need a CRM?
Almost half of the job is done by CRM, it’s the prime source of leads required in a real estate business. It helps keep all data of clients, and their interest in home buying and allows the relators to manage deals and transactions.
What percentage of realtors use a CRM?
CRM software helps real estate agents to stay organized and successfully manage the customer relationship management between property buyers and sellers. To run the business successfully nearly 21% of realtors use CRM in the real estate business.
What are the 4 Ps of CRM?
Planning, People, Process, and Platform are the 4 Ps of CRM
What are the 3 essential components of CRM?
If we talk about the 3 essential components of CRM then always focused on these:-
What are the 4 steps to a CRM process?
Here are the 4step by step of the CRM process
What is the Easiest CRM For Realtors?
Lion Desk – the easiest CRM software is the most preferred choice amongst individuals and realtors. The best thing about this software is, it can be easily set up within two hours and can easily reach out to the customer and scan send an automated message and helps in maintaining the customer relationship.
What are the 3 Primary Goals of the CRM Process?
Generally, CRM is used to manage your customer relationship with the company. Maintains the record of the customer. Assist them by solving their query or information they want to know. Further, send an automated message or notify them, take follow up which later helps to generate a lead. Here are the 3 primary goals of CRM given below:-
What are the 4 phases in CRM?
CRM always works in phases like mentioned below:-
1. Marketing – by running marketing campaigns such as emails and advertisements you can create a database for accounts and contacts which helps to capture leads by scrutinizing the gathered customer data.
2. Sales – In this stage, you have to give a primary focus on leads.
3. Product – here the prime focus is the product, give every authentic detail about it such as price, vendor and descriptions
4. Support – assist your customer by resolving their issues and providing customer support
What are the 5 steps of CRM?
1. Reaching potential customer
2. Customer acquisition
3. Conversion
4. Customer retention
5. Customer loyalty
