As a real estate professional, you want to grow your business, and marketing plays a large role in capturing the attention of potential clients. A 2018 study by the National Association of Realtors (NAR) found 87% of home buyers purchase their home through a real estate agent. It’s evident there’s a market for real estate agents. But how can you reach prospects? Here I will tell the secrets of 9 Benefits of Using CRM in Real Estate Business in 2020.
The real estate sector is one of the leading sectors of every country’s economy with the construction industry. One of the most important features of the real estate sector is that “customer demands” are more complex than other sectors and the time factor is very important. Due to its nature, demands such as purchase, sale, investment, and rental in the sector are not always able to find its answer instantly.
The behavior of the buyers and sellers shows that many real estate professionals are not very successful in not losing their connections and maintaining their relations with the customers after the closing period of their business.Whereas 73 percent of household buyers say; they can do business with the real estate company they receive help from, while 15 percent say that they can buy homes again. However, when the time comes, only 12 percent of these buyers return to the companies they did business with. These figures are almost the same for sellers.
These rates show that if real estate professionals remind them regularly after doing business, they will have the opportunity to re-do business with customers they have already done business with. Unfortunately, this is ignored and thousands of dollars of business opportunities are missing every year.
Manage Your Customer Relations
It is very difficult to ensure customer continuity, service quality and stability in the real estate business. One of the most important features of the real estate business is that it is difficult to understand customer demands and expectations and to respond to requests such as purchase, sale, investment, and rentals instantly.
The main reason for this is that professionals are not using a CRM system. Of course, it may be difficult and untraceable for you to collect the information of the customers you do business on the papers. Also, you may not have enough time to create your own database on the computer. But we are in the age of technology and there are very simple systems for this. Thanks to CRM, customer management systems, you can make this job extremely easy and follow your customers for years.
Take Advantage of Technology
The developing technology and the increasingly conscious customer number make it necessary for organizations operating in the real estate management business to follow innovations as in every type of business.
When a CRM system is not used, real estate companies usually lose that lead completely because they cannot record these demands and cannot reach previous records when they cannot meet current customer demands. Even if they are able to meet the demands of the customers in the future, they do not use a CRM system and they cannot access the customer information that they have requested in the past and there are opportunity losses.
Similarly, there are some business processes specific to the real estate sector, when these processes are not directed with a CRM system, time losses, follow-up deficiencies occur and productivity decreases and turnover decreases.
What is CRM, and Where Can You Find It?
Firstly, we can claim that CRM meaning is clearly understandable. Customer relationship management(CRM) is a technology for managing all your company’s relationships and interactions with customers and potential customers. Meaningly, the goal is simple. It is improving business relationships. Thus, a CRM system holds companies stay connected to customers, and proceed profitability.
Indeed, when we think about CRM, we may refer to CRM system. CRM system is a tool that helps with contact management, sales management, productivity, and more.
CRM is a compact solution that directs you focus on your organization’s relationships. This situation may includes individual people as customers, service users, or suppliers. Therefore, CRM Software may also ensures finding new customers. Thankfully, you may help them with winning their business, and providing support and additional services. So, it is important to use CRM in business life for success. At first, you have to understand well what CRM meaning is.
Customer relationship management (CRM) shows the principles, practices, and guidelines. Thereby, organization develops while interacting with its customers. Moreover, this whole relationship encloses direct interactions with customers. For instance, sales and service-related processes, and analysis of customer trends and behaviors may be included. Ultimately, CRM leads to upgrades the customer’s overall experience and thoughts.
Things that you can do with CRM in Real Estate Business;
1.You will be able to add customers in corporate or individual types.
2.You will be able to create Customer Types.
3.You will be able to group your customers.
4.You will be able to add reminders.
5.You will be able to add automatic reminders in the Sales and Rental contract.
6.You will be able to add discussions and reminders about the Property and Customer.
7.You will be able to add reminders to your team or customers in any matter or to yourself. When it is time for reminders, you will be able to provide or get information by email.
8.You will be able to assign a task for both your team and customers to accelerate the process and keep the progress neat.
9.You can add, delete and update users in your office to the system.
10.You can track your team’s sale amounts in two way; first as sales amount, second as number of sales.
Here is the 9 Benefits of Using CRM in Real Estate Business in 2020;
1.Your entire archive in one place with the possibility of safe access from anywhere:
As our ability to move along has increased with the globalizing world and developing technology, you may need to attend a family meeting in another city tomorrow while working in the office today. Or, when returning from a customer visit, you may receive a phone call from another customer on the road and you may need to access information from the customer file. In such cases, using CRM software will be very useful. Since CRM applications in Real Estate Business are generally web based applications, you can enter the application from any device you have access to the internet, make the necessary arrangements or quickly access the information you need to access.
2.It allows you to manage your sales process completely:
One of the biggest benefits of using CRM in Real Estate Business for your company is that it helps you increase your sales by keeping track of every stage of the sales process. Mastering the entire process, from the initial contact with the customer to understanding your customer’s needs, then making offers and closing sales, makes it easier for sales teams. In this way, you can also decide on the next step to take in advance and follow the sales stages in more detail.
3.Brings your team together and improves internal communication:
Using CRM helps you communicate with your teammates and stay informed of what’s happening inside the company. It allows everyone to work in a common consciousness by allowing your team to share notes about phone calls, meetings, sales, work done. By using a CRM, you can reward your team for their sales activities and increase overall motivation.
4.Records the entire communication process with the customer:
In order to provide better service to your customers, you should keep track of all your communications and access this information when necessary. You can access all information about your customers instantly by using a CRM, that is customer relationship management software. In addition, by categorizing your customers according to their various features, you can make special communications to your customers that meet certain criteria. In this way, you can start to understand your customers better and offer them the best service.
5.Helps you organize your data better:
When you use CRM, you don’t need to organize hundreds of data in various files and keep customer information scattered in a business card, notebooks or emails on your desk, as before. Have an advanced database using CRM; You can keep all data about your sales, offers and customers regularly. In this way, you can instantly access the data you want from any device, anywhere.
6.Allows you to follow the developments closely even when you are not in the office:
Thanks to a cloud-based CRM especially, you can prepare offers and present their offers to customers even when all members of your sales team are not at the office, but you can also get up-to-date information about sales, negotiations and orders with your entire team. And of course thanks to mobile applications that provide great convenience to its users, you can respond to your customers’ needs at any time and get more efficient results from anywhere.
7.Improves your company’s productivity by streamlining business:
You can also follow the work to be done in your company with a CRM that also allows activity management. You can assign tasks to your team, view their shares and observe the offers they have prepared and sales activities. With a CRM with mobile applications, information is sent to the relevant team member each time a new task is assigned and all team members are quickly informed when the tasks are completed. You can also provide complete job tracking with reminders such as meetings and demo hours.
8.Allows you to make quick and effective decisions:
By the constantly updated database, you can follow your sales team’s relationship with customers more easily and be sure to assign the relevant tasks to the right sales representative. You can monitor the data collected from a single source from a central dashboard and quickly notice the points of interest and make more accurate decisions. Thanks to seeing the customer and sales information on a common board, all of your team can complete their work faster and in a planned manner by supporting each other.
9.Can be integrated with other software you use:
Businesses often use multiple software (for sales tracking, production and resource planning, pre-accounting, etc.) to meet their needs. It is very important that the CRM software you will use can be easily connected with other software you use. If you manage your pre-accounting operations that start with the completion of the sales with the cloud-based pre-accounting program, you can easily make your invoice and collection transactions without leaving the application with the CRM integration.