Real Estate Sales Teams Are More Successful with Cloud CRM
In the realm of Customer Relationship Management (CRM) adoption, real estate brokers and agents hold a special place. There are several indisputable reasons why real estate sales teams should be eager to make CRM the cornerstone of their business day. Yet many real estate agents resist CRM software, even when it is custom-developed for their unique needs.
Five Reasons Agents Resist Using CRM Software for Real Estate
- It’s difficult to quantify the financial ROI of CRM for real estate agents, and many CRM subscriptions are costly, even without customization, integration or training.
- Real estate agents aren’t educated on how a CRM application can help them be more productive and effective. They see it as more work with questionable return.
- Sharing prospect information with colleagues, SaaS companies and other brokerages requires trust. Agents are usually compensated on a commission-only basis, and trust is earned, not given.
- Real estate salespeople are inundated with sales tools and digital marketing channels. It’s a classic case of “shiny object” syndrome.
- Real estate brokerages often standardize on a CRM platform like Salesforce.com, NetSuite or Dynamics CRM, with another application layer of industry-specific technology on top of it.
Adopt a CRM Which Is Compatible With the Tech You Already Have
Is your brokerage struggling with deciding on which CRM application will be best for your team? One effective decision factor is the technology you already have.
Across all industries, companies acquire CRM apps which are compatible with the technology they use, know and trust. The contact center industry is a perfect example of this, as CRMs are instrumental in collecting and sharing interaction data between sales agents and customer service representatives who have permission to access it.
VoIP and Unified Communications applications are other applications which can be integrated with CRM to automate more sales functions and save real estate sales teams time and energy. An example of real-estate CRM apps which can be integrated with a VoIP service or cloud-based contact center application is Propertybase, the leading real estate CRM built on Salesforce. The combination of these cloud services extends the value of contact center apps and VoIP services.
CRMs Save Time and Time Is Money
If your team is struggling with CRM ROI, have them consider how much time they currently spend looking for:
- Emails they’ve sent to prospects and customers
- Contact information for other realtors, home inspectors or real estate lawyers
- Calendar appointments for showings, open houses and board/association meetings
- Contracts, photographs, sales brochures, and building inspection reports
Real estate transactions are rich in information, correspondence and interactions. Commercial real estate transactions can take months or even years to nurture through the sales pipeline. Residential sales can take a matter of days, weeks or months. A Re: Tech study showed that 85 percent of real estate professionals have access to a CRM application, yet only 45 percent of them use it.
A Propertybase ROI article finds that their realty clients:
- Save hours per week
- Helps generate more leads for listings
- Streamline administrative processes like proposals, contract, and email marketing campaigns
Propertybase also suggests that lead-to-close CRM software for real estate helps brokers have better visibility into their team's performance, through better forecasting and reporting. Agents can be more responsive to clients needing services.
CRM As a Recruiting Tool for New Talent
Many real estate industry veterans are retiring from the industry - or will be soon. They are being (or will be) replaced by digital natives like millennials and iGens who are social media savvy and avid users of Software and a Service and mobile apps. The newest entrants into the real estate industry aren't looking to rely on their email, a drawer full of paper files and a Rolodex to run their book of business.
They want cloud-based CRM applications to automate their customer relationship management which they can access through their preferred devices, whether they are showing a customer a property or in the office.
CRM Applications Help Brokers Better Manage Their Teams
Senior brokers of record often hold responsibilities to manage and mentor large teams who often only drop into the office occasionally. A CRM application can be a great way to eliminate phone tag and several email exchanges. Like sales managers in other industries, brokers can track sales activities and progress of deals and meetings.
Brokers can help remove bottlenecks, identify performance challenges with disengaged sales agents and generate accurate forecast reports. Though many real estate professionals approach their business with a "lone wolf" mentality, CRM automation can help bring administrators and marketing assistants to add value to agents on the team.
For agents who express concerns about sharing their leads and contacts with the team, data permissions can ensure only those who need access to customer data access it.
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