Real estate is one of the industry verticals where the workforce has tremendous workload. This is partly attributed to the fact that various social-economic parameters sharply impact the demand levels and hence business volumes and transaction levels. Needless to mention, these parameters are totally beyond the control of real estate agents. Also, property purchase is a high involvement purchase, usually with multiple stakeholders in it. These apart from other reasons, make this industry highly competitive where each agent wanting to make the most of each opportunity.
Changing Business Landscape with Technological developments
Historically, this industry has relied on personal relationship and word of mouth. However, with the advent of internet the scene has changed dramatically. According to National Association of Realtors, about 30% of all buyers found their home via a real estate agent. However about 51% of users have found their home online.
It is no longer a secret that, to be able to compete in today’s market, real estate agents need to conversant with use of technology apart from developing a warm relationship with their clients. Still majority of real estate agents plan to invest only about $500 in technology in the next financial year. As per the study, the main items for investment include iPads and digital camera.
To understand the real estate market dynamics, see the attached SlideShare. It details out some crisp information about the nature of industry and relevant details.
The ways in which a CRM software solution can help Real Estate Agents
We have listed the top 5 ways in which a simple CRM software solution can help professionals in this vertical. Remember, its good to work hard but its even better to work smart.
# 1 Efficiently managing to-do list
Doing more in less amount of time is efficiency. Managing day to day task in an organized manner is a key to this. A neat dashboard with to-do list can help agents remain focussed to be able to get the best results. This includes organizing showings, follow-up calls, viewing contracts and viewing the pipeline all in one place.
# 2 Shortening the end to end cycle
Automating the capturing of inquiries from the website and other channels and automatic assignment, helps drive the user engagement. It helps the view the contact history if any and use time tested pre-defined email templates to respond and engage with them. Features like document merge help generate a contract document using a template. Automatic matching of available listings with an inquiry can save a lot of manual effort as well. All these features of a CRM solution can help close contracts faster. This increase the customer satisfaction dramatically. Who wouldn’t hire a real estate agent who can help them sell or buy properties faster?
# 3 Efficient Marketing
Using marketing automation, you can reach out to your subscribers and help them know of any relevant listing. Information like price drop can help bring valuable information to prospects and keep them engaged. Integrating CRM with applications like MailChimp, Marketo and Hubspot can bring in tremendous business value.
#4 Using Workflows and Automation
You can build systems checks and validations to ensure that proper alerts are being done when certain criteria are met. These help to eliminate manual activities and ensures that the business processes can remain optimized.
#5 Integration with other applications
CRM can be integrated with other applications like websites, self-service portals or realtor’s association via web-services as well as XML feeds. They can help automate the process of listing and closure. When inquires flow into the application, they can trigger various other automated processes.
Your Real Estate CRM journey along with us
We can help implement an optimized CRM solution for your real estate business. Read about how our real estate solution built on popular platforms can help your business to grow and reach new boundaries. Also discover, how it helps automate property search and takes care of your typical needs. Built on popular platforms, it inherits the reliability and robustness of the mentioned platforms.
Contact us for a free assessment of your business needs. This comes without any obligations and can save you a lot of time and effort.