Sir Francis Bacon knew back in 1597 that “knowledge is power.” This saying has never been more accurate than today in the information age. Real estate has long been dominated by giants who use old-school techniques that allowed them to conquer the industry back in the day. However, technology is making it easier for small agencies to claim their piece of the pie and make their mark.
When used appropriately, Customer Relationship Management systems can be the deciding factor that sets you apart from your competition. This blog post looks at three reasons why your real estate agency needs to implement a custom real estate CRM system.
1. Why Does Your Agency Need A CRM System?
Technology is becoming a more integral part of doing business. Failing to set your business up for technological success starting now will put you behind the competition in the future. Information is a precious asset that can be bought, sold and used to improve your operations. CRM systems allow your real estate firm to gather and mine information that will help you find new and effective ways to improve.
If you’re not tracking and learning from your own data, then you’re throwing money down the drain. Analyzing data from your daily operations highlights opportunities for you to save thousands of dollars in marketing costs by adjusting your techniques. CRM’s also create the opportunity to mine your existing database with its customer service functions.
2. One Go-To Place For Information
Your realtors will appreciate having a single place to go for information. Consolidating everything in one system makes it easier for your team to work together. Most real estate firms get their leads from multiple sources such as your website, direct mailing, online advertising, social media and other marketing avenues. Managing these databases individually is a horrible use of your team’s time.
Maintaining multiple databases makes it more likely for mistakes to be made and opportunities to be missed. With a CRM you can access everything in one places from any type of device. Your realtors can even access the system while showing a home. The convenience CRM’s offer is unparalleled.
3. CRMs Allow For Intuitive Automation
From the first viewing of a home to signing the final papers, there are a ton of details that go along with selling a property. If you don’t handle the small details such as filing important documents and filling out forms, you can easily ruin the sales process. CRM systems can automatically fill forms and file your documents while giving you the ability to access valuable data on the go.
Additionally, a CRM will help make managing your client relationships a much easier task. Your CRM can be set to remind you of important dates and even contact your clients directly if necessary. CRM systems can take over a large number of small tasks that eat up your work time.
4. CRM’s Immediately Give You Data To Analyze
As previously mentioned, CRM systems can save you a great deal of money in your marketing efforts. Inputting your marketing data into the system allows you to track and measure what does and doesn’t work.
CRM systems can give you information about click-through rates on links, how many website visitors are turning into appointments and which listings clients are paying particular attention to. Analyzing this data from your CRM system creates the opportunity for your focus on what’s working. If the data points to something that isn’t working, then you know you need to start experimenting with new techniques or abandon the project. CRM’s give you a clear picture of what works which helps you spend less time spinning your wheels.