Whether you like it or not, all traditional industries are undergoing a major upheaval.
The openness and utility of Internet and digital media have been revolutionary in the recent years. In comparison, real estate industry is still largely undergoing the transformation that the other industries have already passed through.(Such as travel and retailing).
In this scenario, a CRM software custom made for Realtor Industry could potentially make a big difference.
Real Estate CRM enables adaption of digital media and helps leverage the circumstances to suit your purpose.By handling your realtor activities based on CRM, you can systematically eliminate traditional inefficiencies and take-up new proficiencies.
This might set you off to a long thinking session. Like how a single Platform API could single-handedly make a large change.
But remember that being a Realtor developer isn’t just a single activity, but it’s the combination of multiple processes. A Cloud-Based CRM platform can effectively combine different parts of your process and help you to proceed towards a better way of managing your business.
But it still leaves the question of how a CRM software helps you remove traditional hindrances and improve your business process.
How CRM can revamp the Real Estate Activities
When deciding on a transition from your current way of operation, you should first have definite ways to achieve the proposed improvements. For this, you need to first understand the inadequacies of the current way of operations.
Being a high investment industry, each realtor lead has a very low shelf life. It’s always open to sway by a number of competitive market factors. This includes current pricing, lead value, business dynamics etc.
Even as you have only a slight improvement in lead processing and prospect handling, it leads to relatively better quality of leads. This can cumulate into larger financial gains. This combination helps you to be more efficient hence easing the total workload of the realtor.
In this article, we would be showing you a simplified step-by-step process of managing your realtor activities through a CRM software. You could distil your multiple activities into streamlined processes which will help you eliminate un-requisite steps to improve the quality of your lead.
Manage Multiple Marketing Streams and Channels’ competition
Today, real estate marketing is no longer about advertising on multimedia or trying to convert maximum incoming enquiries. When you are competing with a number of mushrooming neighboring projects, you also need to ensure that you are handling prospects which are suitable to the project that you are selling. In order to have quality prospects at the final stages, you need to be selective about your marketing, right from the primary stage.
At first, you can consolidate all the running campaigns on a single dashboard.
Afterwards, you can comparatively select the campaigns based on their relative performance. For example, you could compare whether newspaper with leaflet advertising is more effective on an audience in a particular City location.
Create a Lead Nurturing Program
Having an immature or unplanned lead processing is the main cause of uneven quality of incoming prospects. Now add the unsolicited calls and messages, and you have a better idea about why your marketing efforts have such a low return on investment.
A lead nurturing program lets you follow and evaluate your progress with each prospect. The concerned manager can register each element of progress on a single platform.
This process is known as ‘programmatic lead processing’, as your leads are processed based on definite process streamline. This also elevates the overall quality of the time expenditure with your sales team.
Connect and Coordinate with your Real Estate Agents
Often, the employment model of Real Estate agents is that they try to get a commission from both realtor and customer. Due to this, the Real Estate agents may try to extract high prices from unsuspecting customers. It’s completely possible that these customer exchanges could be skewed with respect to facts and could lead to problems in future. Consequently, this could result in fuming customers collectively asking for compensation.
With CRM referral campaigns, you can keep track of all ongoing transactions. You can also initiate future dealings that lead to better overall transactions.
Manage Commercial Transactions
A typical real estate firm would be handling hundreds of transactions on a day to day basis. This involves both incoming and outgoing transactions through multiple points of exchanges.
A CRM platform can keep track of all these Realtor transactions. Through an integrated cloud platform, you can also maintain a history of all past exchanges. It helps you analyze and manage all transactions taking place through the relevant streams.
If you are a realtor enterprise, understanding and making sense of the market factors could get overwhelming. In this situation, you need to focus on integrating modern technological capabilities and avoid traditional inadequacies. Real Estate CRM helps you organize and operate your activities with renewed proficiency.