Every great business hinges on one sole thread – customer relationships.
You need to work on developing and maintaining long-lasting customer relationships to further your business. The same applies to real estate as well.
In order to do so, you need to take the help of tactful and effective customer relationship management techniques and foster good connections with your potential customers. Using these strategies, you can drive engagement, boost sales, and ultimately generate more revenue for your real estate business.
In fact, according to research done by PwC in the US, the number of people who are actively investing in the real estate market is on the rise. Moreover, in a report done by Mordor Intelligence, the market size of Canada Residential Real Estate is going to rise rom USD 59.30 billion in 2023 to USD 69.41 billion by 2028.
This is, therefore, the ideal time for realtors to work on upgrading their systems, adopt CRM for real estate, and utilize this upward trend.
To help you understand what exactly this entails, in this blog, we’ll cover:
- What is a CRM in Real Estate?
- Why is CRM important for Realtors?
- How to choose the best real estate CRM?
- Features offered by Zoho real estate CRM
What is a CRM in Real Estate?
CRM for real estate means the software or platform that can help real estate agents and brokers to enhance their relationships with their customers. As we have already mentioned before, a good real estate CRM can help businesses in managing leads, workflow automation, marketing campaigns, and so on.
Essentially, the top real estate CRMs can help your business in these ways:
- Keep a record of the various communications and in-depth accounts of the different properties.
- Establish a central system that’ll help you access profiles of buyers, sellers, your interactions with them, etc. in a much easier and more organized fashion.
- Ensure that all the renting, selling, and buying processes being carried out involve all the required third-party stakeholders and interested parties.
- Manage all the various marketing campaigns effectively.
Why is CRM important for Realtors?
One of the top ways in which a CRM can make life easier for realtors is accessibility. As data is the main aspect from which all the other parts of the real estate business stem, keeping diligent track of it can make a huge impact. That’s where CRM comes into the picture.
It gives real estate businesses both of these – easy access to all the data they need from anywhere. Further, it helps with managing various data, such as deals, contracts, and transactions, effectively.
Real estate agents can glean valuable insights into how the business is faring and track the overall performance. Based on this, you can work on your business strategies and optimize them.
Here are the top reasons why CRM is important for realtors:
- Data Collection: CRM for real estate helps in the automatic collection of information such as contacts, activity, communication, etc. This helps in saving a lot of time and effort.
- Visibility: Since there are so many potential buyers and sellers to keep track of, it can get quite difficult to manage them all. CRM for real estate simplifies this process and gives you a 360-degree view of the entire sales funnel.
- Organizing Data: It doesn’t just help you in gathering the data but it also helps in organizing it so that it can be easily accessed by you or any potential buyers whenever required.
- Trends and Insights: With the help of a CRM platform, you can get valuable information that you can use when going to client meetings. You can study the insights it gathers for different clients and use that to deliver a personalized experience.
- Set Reminders: Since there are so many clients, meetings, and other such important stuff to keep track of, CRMs help you manage them all using reminders and follow-ups. In this way, you never miss out on following up with potential clients and new leads and closing a deal.
- Analysis: It not only gives you an overview of the sales cycle but helps you determine the root cause when issues might come up. You can find out which activities are working in your favor and which aren’t, what’s the duration of a sales cycle, what’s the most common cause of a deal failing, and so on.
And these are just a few examples of how the top real estate CRMs can help in expanding your business. Based on the CRM you choose, these features will only increase in number.
How to Choose the Best Real Estate CRM?
Now that you have a good idea of how a CRM can help you grow your real estate business, you need to pick the top real estate CRM to help you get what you need. The definition of ‘top’ will vary based on your unique needs.
Follow these steps to ensure that you choose the right one:
Step 1: Define your objectives
Each CRM platform offers its own variety of features, which should be in line with your goals. Therefore, it’s vital to define what precisely you and your team want to acquire with the help of a CRM.
You should discuss this with your team members and also take into consideration their ability to use a CRM platform. Go for one that has a simple user interface so that your team members can navigate it with ease.
Step 2: Determine how long it takes to execute
The other important thing to consider when going for a CRM for real estate is the approximate time it’ll take for its implementation.
For instance, the number of employees who’ll be working on the CRM will need to be considered. And so will the time it’ll take to train all of them to use it, as per their different roles and needs.
Step 3: Consider the cost of the platform
Being mindful of your budget is important. So when you’re looking into the best real estate CRMs, do go over the different packages that the platform has to offer and see how many people are using it.
Step 4: Try before you buy
Many CRMs, such as Zoho, have free trial periods which you can make use of to see if it’s the right fit for your business. Ensure that it helps you save time and effort and most importantly, is easy to use.
Step 5: Focus on the features
The top priority for every business is to increase productivity. Look for CRMs with features that’ll help you maximize efficiency such as automation, information gathering, reporting, AI-based functions, etc.
These are just some steps to help you start your search for the right CRM for real estate for your business. And if you’re looking for a recommendation from our end, do read our next section.
Features offered by Zoho Real Estate CRM
Zoho CRM provides an array of features that are highly effective in sales and property management for real estate agencies of all sizes. It enables you to gather more leads from different social media channels, marketing campaigns, and offline campaigns.
Here are some features that make Zoho one of the best real estate CRMs around:
- Marketing Automation. It has features that help you in automating your marketing campaigns so that it becomes easier for other members to develop campaigns and complete their tasks. It also helps you in creating emails, tracking and adjusting your budget, driving engagement, and so on.
Sales Automation. You can optimize your sales team’s efficiency with Zoho, thanks to its automation features. It automatically works on giving leads to sales reps using a predefined workflow that you can customize.
It further helps in automating follow-up emails, sends sales reps reminders, and even assigns them tasks. All this helps in freeing more time for sales reps so that they can focus on closing deals.
AI-Powered Assistant, Zia. You can ask Zoho’s AI-powered assistant Zia for suggestions on things such as the ideal time and day of the week to send communication to a particular customer, what kind of communication works best with a particular demographic, and so on.
Not just that, but it also understands the working patterns of your team members and offers them suggestions based on that so that they can get complete their tasks faster. Further, it enhances the efficiency of your existing workflows by analyzing them and uncovering any mistakes that you might be making.
- Feeds for Increased Collaboration. The ideal CRM for real estate propagates collaboration between team members and helps them stay connected wherever they are. You can collaborate with your team members with the help of Feeds, a real-time feature that lets you discuss deals, brainstorm ideas, and broadcast announcements.
- Centralized Document Management. It gives you centralized access to documents that are important for the business such as property details, transaction documents, etc. You won’t have to go through all the documents because it’ll shortlist the relevant documents for you on its own.
Zoho also has a mobile app so that you can access all its features on the go and always stay connected with your team. Its is one of the best CRMs for real estate but if you’re still unconvinced, reach out to us at Customerization. We’ll help you understand exactly what all it entails and how to get started! As Zoho Advanced Partners, we can assist you in integrating Zoho CRM for your property business
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