CRM is the significant nub of every successful business, and Real estate CRM is certainly no exception. Being a continuously evolving and highly competitive industry, real estate companies must find out ways to create an everlasting customer relationship with their clients in order to stay ahead of the competition. CRM software uses state of the art technology to effectively manage customer interactions and sale prospects by organizing, automating and synchronizing your business processes.
It comes as no surprise that even real estate agencies crave for the magical touch of CRM to handle all company’s interactions with vendors, landlords, appraisal contacts, tenants, as well as buyers. It is a herculean task to attract, interact, retain and satisfy new age customers in the current real estate scenario. Varied cultural background, preferences, budget, mindsets etc., make it all the more challenging for real estate professionals. This creates a bigger demand for personalization trends in the real estate sector to cater to various needs of the diverse clientele. New innovative ways of searching, segregating, managing, as well as keeping customers happy, is the order of the day for every real estate firm.
With a plethora of projects to choose from, property buyers are literally spoilt for choice these days. Better jobs and a higher pay package have empowered the gen Y clientele to expect the very best in class customer service and professionalism from developers. For availing a distinguished customer service, they are even willing to pay an extra premium. Customers are looking out for long-term value proposition rather than just tangible commodities. This is where CRM solutions can step in and create that differentiating factor, which can ultimately convince the prospective buyers why it is worth investing in that property. It could be anything; price, location, amenities, specifications, after sales, etc., that sets one project apart from the other.
For the developers, the biggest hurdle is to first recognize the market segment that they wish to target, then, via marketing campaigns and strategies focus on the targeted market segments. Finally, build sustainable client database using adept follow-ups and customer service. Constant innovation and forward thinking are the prerequisites of any successful business, including real estate. Strategic technologies such as real estate CRM solutions are tried and tested for managing customer relationships effectively.
Here is why every real estate business needs a CRM solution desperately:
Potent Customer Segmentation
Real estate CRM helps to segment the market into groups based on the preferences and requirements of customers. This initiates effective campaigning by targeting the selected group. Customer segmentation also leads to higher productivity while cutting down on campaign costs.
24/7 Access to Information
A cloud-based CRM system can store vital customer data that is essential to your business and can be accessible anytime, anywhere to seal the deal. Sales personnel can then create further documentation and contracts based on the closed deals. This is especially beneficial for companies that cater to multiple property sites.
Effective communication with prospects
CRM software and tools facilitate easy tracking and managing communication with prospects, along with an organized sales process.
Administers customer inquiries and leads
A top notch CRM plays a pivotal role in initiating best in class leads, all the way up to the closure. CRM is instrumental in generating leads from customer interactions at various touch points.
Recreates Market Intelligence
Real estate CRM software helps to meet the buyer’s requirement with precise information on location, price, and availability in real time. The software can be modified and designed in a way so as to provide inventory related information that not only optimizes costs but also maximizes profits by capturing lost revenues.
Manage customer accounts
Frequent communications are very common with the customers or prospects are very common in a real estate sales cycle. Occasions like milestone / floor completion, communications related to payment reminders, etc., can be sensitive and even the slightest error can be detrimental to the customer relationships in the long run. Using a CRM system, the real estate company can send automated emails and mobile messages with respect to the customer’s transactions.
Enriches Loyal Customer Database
What’s a CRM that cannot create everlasting customer relationships and build loyalty? Like any other CRM, a real estate CRM stores a lot of vital information about the customers and prospects. Small gestures like a thank you note, sending greetings on birthdays and anniversaries, make a huge difference and hook on a customer for life. Even updates about an upcoming property to the prospect, referral schemes etc., solidifies and renders optimum customer satisfaction. As marketers swear by the fact that word-of-mouth referral is the biggest form of marketing. Your loyal customers can turn into your brand advocates with the help of a CRM system.
Real estate sector is vast and ever growing. With millions of customers interacting every day, a strategic need to segment and manage the prospects in accordance with their versatile requirements and preferences is extremely crucial. From the above points, it is clear that real estate CRM is indispensable to the industry and its sale processes.