5 Reasons Why CRM Is Crucial for Real Estate Sales
The real estate business is uniquely competitive. Selling homes requires building human connections, and forging a relationship that builds trust. Whether you’re a builder or a realtor, you need to make an impression on your clients right from the time you make the first phone call down to the final closing strategies. That means customer relationships are a bigger priority for you, if you are in the real estate business, than it is for other other industries.
A study from the National Association of Realtors (NAR) in the US, points out that 41% of property sellers trusted referrals of realtors from their friends and family. It’s a known fact that word-of-mouth marketing is the most powerful. So, how do you get a good referral? By maintaining good customer relationships that demonstrate trust, responsiveness, empathy, and knowledge. This is where a CRM comes in.
In this article, we will tell you why using a CRM is the only way to go for any real estate business looking to succeed. Read on.
Collation of information in one place
Your leads always come from a variety of sources both online and offline. What do you do with prospects from these sources? How do you keep a track of them?
A CRM organizes and handles large volumes of data and acts as a central repository for all customer interactions. It also saves your data for future reference. Add customer-specific notes, upload files like buyer contracts and purchase agreements and automate appointments for smooth coordination from the first email to the closing paperwork.
Without a CRM, it is hard to handle all of your new inbound contacts, tasks, listings, transactions, and money. Errors are inevitable and you’ll potentially miss out on opportunities to interact with new clients, as a result. A CRM automatically organizes lead data by categorizing customers as current or previous clients, cold or warm prospects, and unsatisfied, happy, or extremely satisfied clients. With all of your leads and categorizations in one place, everyone on your team has access to the information at hand, and you’re less likely to miss out on opportunities.
Give faster, timely responses
Response time directly affects sales and clients often expect immediate responses. The faster you are, the better. This can be accomplished by automated emails, a website chatbot, or even automated voicemail messages. A real estate CRM system will understand a client’s requirements and send customized, and more importantly, humanized replies, along with cloud capabilities or specific mobile apps, allowing you to access them no matter where you are.
A CRM will help promote good relationships with potential clients by following up with them on a regular basis. Reaching out to prospects over various mediums like phone, email, SMS, or social media, becomes easier too. With the help of both instant and pre-set auto-responders, you can halve your response times and double your productivity ensuring a faster resolution.
Automate business processes for efficiency
One of the best features of a CRM is how it integrates the automation into all processes, which mitigates human errors by reducing manual work. Many CRM systems now provide extensive workflow features to match every stage of your real estate sales, marketing, and service operations.
Using a CRM, you can send customized emails regarding new listings, congratulate buyers on their new purchases, or organize a monthly client newsletter to stay connected with customers while reminding them of key developments. CRM can auto-capture leads, perform customer segmentation, schedule appointments, nurture leads while eliminating manual data entry and customer follow-ups, which allows you to focus on more important revenue-generating tasks.
Make informed decisions
CRM analytics can help you better understand your customers’ preferences and segment them into those who are most likely to buy and those who are least likely to buy. By creating ideal customer personas, a CRM will assist you in determining which clients are more profitable, how much time and money you should devote to them, and the right means to reach them.
In this way, CRM platforms can convert unstructured data into a structured format that can be visualised and used to generate actionable insights. It enables you to anticipate future revenue and optimise sales and other operational activities while assessing the industry and foreseeing potential risks and future trends.
In-depth reports and analytics
With a real estate CRM, businesses can greatly profit from automatically generated, customized reports. It includes an intuitive dashboard that allows users to view customer information, sales progress, and other information.
Reports help you identify areas where you excel and where you need to improve, enabling you to make strategic decisions. Utilize filters based on leads, customers, efficiency, sales, and properties to create a variety of reports based on your data choice.
Real-time client insights and advanced reporting capabilities like these are critical for making data-driven decisions, meeting KPIs and improving overall organizational performance.
A global 2020 survey from McKinsey shows that digitization is now the first priority in companies across the world. Real estate is no different and builders as well as agents need a CRM more than ever. A robust CRM is much more than a tool; it’s a business concept and approach that combines software and strategy to generate long-term clientele and a profitable firm. A CRM will help you maintain relationships with clients even after you’ve helped them find houses. Better still, it will help you gain loyal customers who are more likely to recommend your business to others.
Customer satisfaction and a strong customer relationship are top priorities for a real estate business, and a CRM will help you accomplish these goals and navigate the customer relationship journey effectively and efficiently both before and after sales. After all, a CRM is about maintaining good customer relationships. And they don’t end with a sale.
Delight your clients. Step up your productivity with MetroGuild’s CRM, which can help you build a solid, well-organized customer database. Write to MetroGuild today at firstname.lastname@example.org