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The Best Way To Use a CRM in Real Estate

Table of Contents

Real estate Client Relationship Management can be intricate, time-consuming and create information overload. One misstep with a lead or client can lead to disaster and errors can quickly occur when a real estate agent is trying to manage clients without a CRM.  These software programs offer the real estate professional an automated ability to manage every aspect of the relationship for each client, from buying, selling and renting. Additionally, an excellent real estate CRM will lower your operating expenses, give you and your team a single data repository and integrate third-party applications.  When you manage the client’s expectations correctly, your convert more leads and get to more closings. Combining the right CRM with the very best market data will create two foundations for your successful real estate business to expand.

The Benefits a CRM Gives Your Real Estate Business

 A real estate CRM can give your real estate business-specific benefits such as:

  • Storing property information. Having one accessible database for each property and all details of a specific client’s journey relating to each property keeps everyone informed and working together.
  • System Integrations. The right CRM will integrate seamlessly with other business applications for partners, third-party sites, lenders, insurers and attorneys. Because so much of your business is interdependent on these external systems, the real estate CRM makes information accessible for all concerned in the process.
  • Storing Client/ Lead Information. A CRM takes all the information that a lead and or client has trusted you with and incorporates all of it into a single profile. The more details you have from your client, the more entered. Using this type of high-quality personal information, you can run targeted reports to benefit the client’s needs. When maintaining structured communication with your client, a CRM can be your calendar and webmaster by automating individual communication for specific events.
  • Pipeline Management. Your real estate success depends on steady individual pipelines, leads and properties. This pipeline management will carry the entire funnel process from showings to closings.
  • Relationship Management. Trust plays a part in every transaction. If trust isn’t part of your client relationship, you won’t have a transaction. The benefits you bring your clients will make a big difference if they stay clients. A CRM can help you stay organized and detail-oriented, so you can share timely, accurate and needed information with each client. This detail and organization will build trust in you, creating better lead conversion, closing rates and referrals.

 Internal Team Usage of a Real Estate CRM

Steve Jobs once said, “Great things in business are never done by one person. They’re done by a team of people.” Giving your real estate team a resource like a CRM ensures the great things they do individually tie into the group’s efforts. You may find a CRM brings value even more, but below, we have highlighted specific roles and the CRM values to each.

The Real Estate Agent/Broker

Every salesperson in real estate is a public entity. Their pictures are on the cards, the signs and the ads. No skill is more critical to an agent or broker than the ability to manage the one-on-one relationship with their client. The values of a CRM to a Realtor are:

  • Record for future reference all client information down to the finest details. Budgets, leasing hurdles, credit scores, past histories, wants, must-haves and nice-to-haves are just some of the many elements entered into a CRM. It’s the agent’s memory.’ Remembering all details of a client is one of the best ways to maintain a positive relationship.
  • Storing all showing and potential showing properties into the client’s file.  Maintaining these files allows the agent to present property highlights to the client before a showing and record properties shown, what they liked, didn’t like and want to see more.
  • Retain a living record of all communications the agent will have with clients, other realtors, inspectors, etc.
  • Maintain a personal schedule to keep them at the right place at the right time with access to all the required information in one resource.

The Real Estate Marketing Team

From managing multichannel advertisements for your agency to individual listing content efforts and even the local community events attendance, your marketing team is the team’s voice needing a CRM. The values of a CRM to a professional creative team are:

  • Coordinate between vendors, internal stakeholders and manage all multichannel advertising efforts.
  • Work with the agents to define high potential properties for special marketing initiatives.
  • Create quality content for listings and record for access by all.
  • Use CRM data to determine conversion rates, ad success rates and marketing campaign results for ROI determination.
  • Create an expanded universal lead generation.

The Real Estate Administrative and Customer Service Team

The administration of a busy real estate business is as time-consuming as any business area. Maybe even more so than some. Your administrative team will gain value from a CRM with:

  • Ease and simplicity of maintaining any database they manage; property listings, closing dates, client file needs and more.
  • Simplified data and business metrics reporting with designed reports.
  • Universal appointment setter functionality with automated SMS and or email confirmation delivery.
  • Maintain a database of municipality and state ordinances and laws.
  • Coordinate any upcoming closing needs.
  • Manage walk-in and call traffic with seamless coordination with agents.
  • Maintain direct access to client files for ant client information requests.

Takeaways for a Real Estate CRM

Relationships and Reputations

Relationships and Reputations are the foundations for any real estate professional.  CRM tools help you build a solid reputation of dependability and knowledge that will create a feeling of trust in your client. The perception is you’re empathetic and a trusted advisor to them.

Time Management and Productivity

Time Management and Productivity are skills you need to get things done on time and with fewer mistakes. A fundamental value of a CRM is that it gives you all the information you need in one place and allows you to make use of that information in ways that benefit you specifically.

Evaluation and Correction

Evaluation and Correction of your processes and skills allow you to grow your professional abilities. With a CRM, you can track data you want and use that data to learn and grow.

Profitability and ROI

Profitability and ROI increase gained with a CRM. You will waste less time looking for information, converting more leads, showing more houses and closing more deals if you are organized, making your time invested profitably. With self-managed tools for data reporting, you can determine what is working and what is not, allowing for changes that will improve your return on the investment you made in the CRM.

Integration and Accessibility

Integration and Accessibility of a CRM for internal and external users and applications will improve your productivity, relationships and profitability. You can integrate your CRM with third-party systems and use it in conjunction with ProspectNow systems. ProspectNow is the first predictive modeling and marketing platform that provides real estate sales, brokerage and lending professionals with robust systems and tools for extracting value from massive amounts of data through machine learning. Adding the vales of a CRM and ProspectNow modeling is a powerful combination.

Since 2008, ProspectNow has delivered quality commercial and residential real estate data for less than our competitors. Make ProspectNow your vital resource. Contact us today.

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