CRM for real estate has been specifically designed for real estate agents to help communicate with their customers to analyze what they actually need to propose products, maintain customer retention, and maximize sales team management and CRM property management.
People working in the real estate industry or in charge of Real Estate Leads Management may or may not be familiar with CRM before. Most of them usually deploy popular customers’ data spreadsheet applications, such as Excel, and do not quite understand what CRM for real estate is for.
This article will explain CRM to you so that you will understand this program better and know how CRM contributes to property agents’ success.
What Is CRM?
CRM stands for Customer Relationship Management and has main functions for data records such as customers’ names, contact information, needs, interesting products, buying behavior, product information, promotion, sales, and others.
With CRM, you can analyze those data to improve the value proposition for each particular customer that can lead to their brand loyalty and become long-term clients. It can also enable more productive sales. It is now the time to get more familiarized with this program about types of CRM.
Types of CRM
There are 3 types of CRM available in the market, depending on working patterns:
- Collaborative or strategic CRM – emphasizing customers’ information sharing within internal departments to collaborate and achieve the same goal. This type of CRM also helps make effective decisions on strategic planning for each department.
- Operational CRM – helping reduce complicated and unnecessary work processes for more work efficiency for the team at maximum such as sales and marketing systems and automatic customer service.
- Analytical CRM – focusing in-depth data analysis from a large-scale database that allows executives to view the data as a whole and plan their work.
CRM Advantages for Business
- Systematic sales information management – CRM makes data collection and storage become more orderly because all data required such as customers’ contact information, sales status, and work schedules are stored in the centralized database.
It does not take risks of loss, and anything can be searched for with the search function. Multiple users also can have simultaneous data access and consistently updated data. You can easily hand over related tasks to new employees as well.
- Increase in work efficiency – Functions in CRM speed up teamwork and allow them to work more effectively with more clarity and transparency in the work assignment system.
Staff will be able to know what, when, and how they perform their duties. Email notifications remind users of follow-ups, thus reducing chances of mistakes. Several other automatic functions are ready to make their work smooth and faster.
- Seeing the overall business faster – In addition to all the integrated sales information, CRM can analyze and report to teams on the remaining budget, sales status, feedback about campaigns, best sellers, unsuccessful products, and each salesperson’s performance.
The Sales Department, as well as others, can access CRM to view these data in detail for executives to plan team and business strategy development.
- Generating more sales – Use of CRM enables the sales function to clearly see the selling process in every step. It can help them focus better on making sales and follow-ups to trigger more conversion.
They will be able to know more about customers’ information. CRM is useful for improving work planning to propose how to make sales through different channels at the most appropriate time for the best sales results.
- Greater customers’ satisfaction – Teams now understand customers’ needs better based on complete customers’ information and can deliver documents, products, and promotions in a timely manner to maintain their satisfaction and induce more brand loyalty.
CRM vs Spreadsheet
Many companies are used to deploying spreadsheet applications such as Microsoft Excel and Google Sheet to record sales data because of their easy applications and inexpensive costs.
However, we would like to point out how CRM is different from and better than spreadsheets with the following comparisons:
- Data entry – On spreadsheets, you need to fill out all data manually. In CRM, you can import data automatically such as customers’ contacts and business card scanning.
- Data linkage – When data on spreadsheets are linked, teams need formulas or pivot tables to retrieve and display them. With CRM deployed, those data can be viewed upon clicking and conveniently stored together.
- History of data editing – The record of data revisions on spreadsheets can be generally viewed, whereas CRM can retrieve and display the history of data editing in detail.
- Report preparation – It takes several steps for spreadsheets to generate and update reports manually, but CRM allows you to view automatically updated reports quickly.
- Collaboration – Working with team members using spreadsheets has a lot of constraints and inconvenience. In contrast, CRM can access and edit data simultaneously in real time.
- Data saving – Spreadsheets generally record data on each working computer or in shared files, which may be erased or lost. CRM works on Cloud or companies’ central servers with more secure database.
- Customizing usage – Spreadsheets have troublesome usage customizing for each particular business, yet CRM allows customizing more flexibly, without a need for a programmer to write cluttered coding.
- Cross-platform support – Only Microsoft and Google products can work with spreadsheets. Other software applications require manual customizing.
On the other hand, CRM lets other programs work together excellently, and some of its functions are automatically linked. This advantage leads to more flexible and convenient workflows.
From the comparisons, the use of the CRM program yields higher efficiency than spreadsheets in any case. This fact clearly explains why leading organizations deploy CRM instead of traditional spreadsheets. If you are still using them, it is time to turn to a better CRM.
Property Flow Features for Property Success
CRM of the Property Flow real estate sales platform is unique in terms of the real estate dedicated design. Whether you are a broker or real estate owner, Property Flow helps increase the number of customers and easily drives you to success, with its offered features as follows:
- One-stop customers’ information management – Property Flow gathers lead data from several channels, including the listing database you have, into one place to make it easier for property lead management and convenient work assignments to brokers.
You can also quickly change or modify work detail for other brokers within teams with all data updated in real-time.
- Quick contact search – Because Property Flow integrates all databases, you can search fast for lists of real estate owners, buyers, renters, and other parties including related properties.
- More sales closed – Brokers will see all systematic selling processes and can concentrate on each step to help increase closed sales.
- Mobile support – CRM can work on mobile phones and tablets both on iOS and Android with all functionality. You can perform tasks and present your work to customers anywhere and anytime.
Property Flow also offers other several functions to the property business to support the full-cycle workflow, including real estate website design, real estate leads management, real estate listing management, CRM property management, and posting house-selling advertisements on real estate portals.
With the assistance from our teams of experts, you can have strong confidence in Property Flow services.