One of the things we’ve taken notice of at the Ben Farmer School of Real Estate is that soon-to-be or newly minted agents are often curious about why a real estate CRM is important. Are you among those who have heard mention of customer relationship management software for agents and are wondering what the fuss is all about?
As a long-established real estate school with real-world knowledgeable instructors and staff, we can shed some light on that.
Here is a quick look at some basics of CRM software, and a more detailed look at seven of the ways a CRM platform can benefit you when you start out as well as later down the road.
So, what’s CRM software, anyway?
Simply put, customer relationship management software is a technology resource that supports your strategy for building and nurturing relationships with prospects and clients. Generally speaking, a CRM is a central repository for business data, a tracking system for interactions with potential and existing clients, and an analytics and reporting tool.
As a long-established real estate school with real-world knowledgeable instructors and staff, we can shed some light on that.
Here is a quick look at some basics of CRM software, and a more detailed look at seven of the ways a CRM platform can benefit you when you start out as well as later down the road.
So, what’s CRM software, anyway?
Simply put, customer relationship management software is a technology resource that supports your strategy for building and nurturing relationships with prospects and clients. Generally speaking, a CRM is a central repository for business data, a tracking system for interactions with potential and existing clients, and an analytics and reporting tool.
#1 Corral Your Leads
One of the challenges you’ll face as a real estate agent is organizing leads from scattered sources. With a CRM, you can consolidate info from multiple lead streams into one spot. And a good CRM platform will seamlessly synchronize with other technologies (i.e., websites, email, and social media channels) to allow you to transfer information. That makes it faster and easier to organize data.
#2 Manage Client Intel
If you’re using a tool like a spreadsheet to keep up with prospects and clients, you’re limited in how much data you can easily capture and analyze. A CRM system, on the other hand, is designed to let you collect and track all manner of customer data that provides insight into behaviors and needs. It also allows you to slice and dice intel to improve decision making and up your service game.
#3 Personalize Your Marketing
CRM software makes it easier for you to sift through contact information, segment based on contact profiles, and then tailor marketing messages accordingly. So, you get to bid cookie-cutter marketing farewell and connect with leads and clients on a deeper level to nurture relationships. You can also automate your marketing campaigns based on triggers within your CRM software.
#4 Respond Faster
As an agent, you’re on the move – driving to listing appointments, showing properties, and the like. And so, responding to emails, voice mail, and text messages in a timely fashion can be difficult. With a cloud-based CRM, though, you can access the info you need wherever you are to get back with those who contact you. CRM platforms also allow you to create customized auto-responses to let leads and clients know that you received their message and will be back in touch shortly.
#5 Stay on Track
The busier you are, the harder it is to manage things without dropping the ball. A good real estate CRM can help you with that. For example, set automatic reminders for calls to make and follow-up activities to handle. Set your CRM to remind you about special dates – client birthdays, purchase anniversaries, and such – and to send automatic emails. Plus, create automated checklists to help you stay on top of details associated with things like listings, open houses, etc.
#6 Boost Your Productivity
Splitting time and attention takes a bite out of efficiency. Therefore, it follows that you can increase efficiency and productivity when you use software that lets you roll multiple activities into one system. The right CRM will integrate with other technology tools that you’re using – lead generation, email marketing, accounting software, and more. So, you can continue to use the tech solutions that work for you while spending less time switching between interfaces and devices.
#7 Analyze Business Performance
A robust real estate CRM system – one that provides dashboards and detailed analytics about activities such as marketing, lead generation, and relationship building – helps you identify bottlenecks and other areas for improvement and devise solutions that address performance gaps. That means you can work smarter, not harder with the advantage of real-time data on what’s working and what’s not.
Keep in mind: While there are advantages to using CRM software, technology is simply a tool that helps you nurture client relationships. To get the most out of that technology, you need a business approach for managing interactions with potential and existing clients. Coupled with exceptional customer service and in-depth real estate knowledge (check out how the Ben Farmer School of Real Estate can help you gain that), a CRM strategy can help grow your business and your bottom line.
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