Do you ever feel like keeping track of people is hard work? And does it seem like your efforts aren’t quite paying off? Imagine your phone without the Contacts list. No phone number, no email address, and so on. It’d be hard to remember everyone. Today, though, all we have to do is say, “Siri, call Bob!” Technology enables us to complete tasks with ease and in less time. But an address book can only assist you until you’re managing dozens of client relationships. This is where a real estate CRM benefits agents and brokers. CRM software levels up your communication and service abilities. It’s almost like cloning yourself, so you can be that “individual expert” for all your clients without draining your mental stamina. Let’s go into some details … By definition, CRM stands for customer relationship management. It usually refers to software that is a contact and communication tool. It allows you to manage multiple relationships, but also handles the day-to-day work involved with those relationships. Examples include task reminders like to-do’s. It can send emails out automatically. Or it allows the more deeper tracking of your sales pipeline, so you can measure revenue (i.e. business/commission income). In real estate, a CRM enables you to service individual people throughout the entire home shopping experience. From the moment they register as a lead on your website to the moment they sign their name on the bill of sale. That journey always has a few bumps, as you know. A CRM helps coordinate all those steps and free up your workload (via automation). It smooths out those bumps. Let’s break down the advantages by agent and broker. Depending on your job role, you’ll care more about specific CRM features. For Brokers: For Agents: There are plenty of free CRMs on the market, but they’re limited in ability. Oftentimes, agents and brokers will need to shop for a real estate CRM, weighing options. Whichever CRM you choose, it’s important to think about ROI. How will you make up the investment? The answer is NOT to have big goals. You want small, achievable goals that build momentum. Real estate CRMs are built to handle a lot of business aspects. Tackling all those at one time is extremely difficult. Instead, start at your most critical pain point. Example: If you’re having a hard time closing deals (i.e. winning leads) or having issues with “lead quality,” then examine your lead follow-up. Build out template emails, text messages, and phone scripts. Plug them into the CRM and have it automatically communicate to your leads. Then you can measure if you’re seeing progress. Don’t worry about the other features until you’ve graduated from your initial goal. And lastly, the biggest hurdle to seeing any ROI with a real estate CRM is getting people to use it. Yes, adopting and using a CRM is more difficult than you think. If you’re a business leader, create rules for your co-workers. Everything goes into the CRM. Because if it doesn’t, there’s no way for you track ROI. All you’re doing is spending money without a clear picture. The best rule to use is: If it isn’t in the CRM, it means it doesn’t exist or you haven’t done your job. Typically then you’ll see your teammates adopting the product a lot faster. If you’d like more resources about real estate CRMs, check out our articles on the 5 Business Benefits of a Real Estate CRM and How to Choose the Best Real Estate CRM. Check Out BoomTown’s Real Estate CRM. Click Here > 1What is a Real Estate CRM?
2Advantages of a Real Estate CRM
3How to Achieve ROI with a Real Estate CRM
4More Resources