Selling and buying properties are not the only tasks performed by real estate agents. They have several responsibilities to handle. Since the real estate industry is highly competitive, real estate agents should consider adopting a CRM system to maintain their position amidst the cut-throat competition.
According to a report, by 2025, the real estate management system industry is expected to reach $12.89 billion. Also, CRM, which accounted for no less than USD 2.69 billion in the worldwide real estate software market in 2017, might grow at 5.0% CAGR during 2025. Thus the CRM system is important in the real estate industry.
However, you may find it hard to choose the right CRM for yourself with various excellent options available in the market. So, you may take into consideration the following factors before you settle for a CRM system.
Figure Out Your Needs And Goals First
While choosing a CRM, you should be governed by your business’s goals and the market you are operating in. Therefore, you should first find out the needs and goals of your company before you select a CRM system for your company. A failure to establish a clear idea about your goals may eventually cost you more money.
Have a Reasonable Budget
It is very important to have a reasonable budget and spend wisely on a CRM system for your real estate business. That’s because, according to a report by Forrester, about 39% of the individuals surveyed stated that exorbitant upfront costs proved to be challenging concerning their existing CRM system.
Don't go for the first CRM system that you come across. Choosing an all-in-one CRM system that includes automation features, marketing, and customer support options is a more cost-effective approach.
Go for an User-Friendly CRM System
Being a real estate property manager, you should always ensure if the software of your choice is easy to use and intuitive. After all, if you choose a CRM system that is hard to use, it would negatively affect your sales. And, that is not something you would want.
The user adoption rate must never be less than 100%, and the data must be shared easily between every member of your team. Also, before choosing a CRM system, always take care of the needs and convenience of your team members, too, because what is easy for you to operate might be hard for the other. Go for a CRM system that stores all your information in a centralized manner.
Choose An Efficient CRM System
Choose a highly efficient CRM for your real estate business to flourish. Yardi and MRI Software are two popular choices here. Our experts and Yardi consultants can guide you on the right CRM option. If you're thinking what makes a CRM system a good choice for you, here are some things to look for.
Is it easy to understand?
Choose a CRM provider who explains every detail about setting up the system and how to use it to you as also to your staff members. This will help your team in understanding the CRM system better and using it effectively. You need to look for continued support as well - as you can't be left high and dry should things go wrong. It's also why you might want to engage the Assetsoft team to help you. We will walk you through all the nitty gritty of your CRM system.
Go For A Customizable CRM System And Be Keen When You Choose Your Dashboards
Choosing a CRM that can be customized is very important as it allows your team to view all the graphs and charts effortlessly. Also, for a real estate business that is small dashboards may prove to be useful.
Check The Marketing Features Carefully
Your CRM system has to be equipped with marketing automation features. Some features such as email marketing facilities and building landing pages may prove to be helpful in terms of making survey forms, scoring, and running marketing campaigns on various social media platforms.
Ensure If The CRM Can Be Accessed Via Mobile Phones
The Forrester Report of 2020 had about 30% of the individuals surveyed preferring to use a mobile application for their CRM system. A lot of companies have developed mobile applications for the CRM software that they offer. Since CRM is important in real estate, you should go for CRM software that can be accessed with the help of mobile phones.
Does it Have Advanced Metrics and Reporting Features?
For a real estate business to grow and prosper, it is important to make data-driven decisions. Data analysis is, therefore, very important in the context of the real estate business.
You need to find out your competitors, for instance, the agents performing well concerning sales or business volume. You need to find out what the challenges to your business are and figure out the solutions accordingly.
So, you need to make sure that your CRM can generate reports for different aspects of your business, such as accounting, logistics, sales, and so on. Also, it should be able to create such reports in real-time with utmost precision.
Is it Compatible With Your Other Software?
Just because you are looking forward to deploying a CRM system for your real estate business does not mean that you have to do away with all the other software you currently use. You simply need to make sure your CRM system is compatible with the other software you have been using.
All your existing software, including your accounting software, marketing automation tools, and so on, has to be compatible with the CRM software of your choice. And that's where the Assetsoft team comes in, helping you choose the best real estate property management software for your needs.
Compare The Features Offered By Different CRM Systems And Ask For A Free Trial Too
Find out what features are offered by the different CRM systems that are available in the market. Check if the CRM system of your choice offers features like mobile accessibility, property listings, and so on. You may settle for a cloud-based CRM system since, according to a study, about 94% of businesses make use of at least one cloud-based solution.
Choosing a real estate CRM can be a daunting task. The Assetsoft team helps you choose a CRM system that will fulfill all your business goals. Talk to us today to know more!