When you are looking for a home, what are the things that you would consider? You would check whether or not the foundation of the home is right and sturdy, you would check the neighbourhood where the home is and you would check other things like the price of the home and the budget that you have as well. Apart from this, you would check for the legalities so that you do not have a legal case on your hands and you would also check the other things that have to do with the paperwork of the home.
Now, if we are to flip the situation and ask a real estate agent, developer or a broker what they would look for in a real estate deal, the answers would actually become questions for the buyer. Would you prefer a house in this particular neighbourhood? Does this price match your budget? How many rooms do you want? What kind of a deal would you want to make with the buyer – buy outright, or rent to buy, or any other kind of clause? So, one can see that there are a number of things that can be used in order to match the right buyer with the right seller.
But in the digital world, where big data seems to rule the roost, how can you do that in an efficient and timely manner so that the information does not become irrelevant by the time you are done dealing with it? Well, this is where the complex yet simple, problem solving world of real estate CRM comes into play. You can easily find the solution and the right fit for your property as a developer, an agent or broker – all thanks to a free real estate CRM platform or software. Yet, there are many things that you would have to consider to find the right fit for your real estate business or practice, much like the things that a buyer would have to consider before signing up for a home buying deal. Here are the five main factors that you would have to consider, or rather, the five main problems that the real estate CRM would have to fix for you and your team to attain conversions much more efficiently and in greater numbers than ever before:
- Productivity: This is a major one when it comes to home buying needs and finding the right audience for the right property. You would need real estate CRM software that helps you automate all the monotonous tasks and the big data filtering related tasks so that you and your team members can safely focus on tasks that centre around your core strengths. This will also free up your bandwidth to be able to take on tasks like actual engagement since the reach will be automated by the CRM software or the system. The who, when and how aspects of the reach task would be taken care of by the functions and the information that you build into the CRM framework. This would help the productivity of your team go up by leaps and bounds since they would have a new challenge and a new engagement to carry out each time they tap into a lead that has been successfully nurtured by the CRM software or system. In turn, this would help the team also stay on top of their game so that they can pitch the right property to the right buyers and find the right fit that will lead to a sure shot conversion.
- Integrations and Functions: There are a number of unique functions and the unique call of each customer that the real estate player has to answer to. These unique functions have to do with the fact that each real estate deal is unique and therefore the integrations have to happen on the basis of the buyers, the sellers, the various clauses revolving around the purchase and the take over the property as well as the people drawing up the paperwork, the inspection units and their go ahead as well as the funding agency that is involved in the entire deal. Hence, these integrations must be possible with unique functionalities assigned to each and every task so that each deal may happen in the most smooth and seamless manner with the framework of the real estate CRM at play.
- Flexibility and Work Flow: The work flow would be the next thing that you have to look at. In this case, there is a specific work flow in every real estate company or every real estate deal. Yet, there is a certain flexibility that is required in terms of bringing the buyer through the entire sales pipeline and to the end where a conversion would hopefully happen. So, it is important to have those flexibilities in place when the functions and the real estate CRM framework is being planned.
- Analytics: Taking informed decisions is the basic foundation of all real estate deals. Whether it is the agent, the developer or even the home buyer, everyone wants to be able to take an informed decision when it comes to the property they are looking for and the property that they finally freeze on. This should be taken care of by the insights and analytics of the CRM system that will filter all the information to create a framework where the right information is recognized and stored for the client and the real estate developer or agent as well.
- A Single Tool: The real estate CRM that you use should come with added functions like marketing automation so that you have one tool where all the functions happen and one place from all the information is being distributed. This will make things easier and you will not have to switch and toggle between multiple platforms and functions in your role as the real estate developer or agent. This would help in lead generation and nurturing.