5 CRM Guidelines for Real Estate Beginners
A real estate CRM is a customer relationship management program that real estate agents can use to store and organize large amounts of data about their customers and potential customers. It is a versatile program that can be used for different purposes, but that ultimately improves and simplifies processes for real estate agents.
1. Features of a real estate CRM
CRMs can include a number of different features. Some are inherent features included in any CRM program you could choose, and others are only offered by some.
Some CRM features include: lead management, contact management, user friendliness, data analytics, email tracking, mobile friendly, and social media management.
As well, some of these programs are Cloud-based, which means there is no software that needs installing.
2. Choosing a real estate CRM
Like anything else, there are so many different options for CRMs available. To bring it down to the basics though, there are three types of CRM software. Operational, analytical, and collaborative. Features overlap between different types of software, of course, but different types have different strengths.
Operational CRMs excel in areas of acquiring new customers. They can generally generate leads which then become contacts, and they can then organize all the information that comes with these new contacts.
Analytical CRMs excel at advanced analysis of the data it has access to. Where operational acquires the customers, analytical improve the service the customers receive.
Collaborative CRMs excel at sharing data between different departments. This software is all about teamwork, sharing, and communication between team members.
Some CRMs are simply well-suited to real estate agents, while others are specifically designed to serve the needs of a real estate agent.
3. Why real estate agents need CRM programs
The main functions of most CRMs – namely data management, mobilization, speeding up processes and response times, sending reminders, and meeting organization – are all features real estate agents need help with at an increasing rate in this digital world.
With so many different contacts, the most effective way to keep them well managed and organized to have them in a system like a real estate CRM. As well, real estate agents need to be able to access information and input information on the go. Being able to do things anywhere, anytime means CRMs help real estate agents get things done more quickly.
Real estate agents need to be able to keep track of important dates, not only of meetings they have planned, but also important dates for clients like birthdays or anniversaries. Knowing dates like these can help improve rapport with clients.
4. Paying for a real estate CRM
Prices for CRMs range drastically from $7 a month to $400. The price really depends on how many users are going to be accessing the program. Naturally, the more users, the more money. Some CRMs also will charge more for more contact storage. For example, a cheaper or free version might only allow for the storage of a couple thousand contacts, while a more expensive one will allow millions or an unlimited number of contacts.
5. Using the CRM
A system is only as good as the data in it, and as good as the users using it. Without accurate information and consistent use, a CRM will be a waste of money, regardless of whether the real estate agent using it has the cheapest, most basic version or the most expensive, high-end system with all the bells and whistles.
While CRMs are very important for keeping real estate agents organized and competitive, the system doesn’t do the work. It is up to the real estate agent to work with the system to improve the service they provide.