5 Stats Proving a Real Estate CRM Will Transform Your Sales in 2019
CRM or Customer Relationship Management has brought in a whole new range of exciting opportunities in the world of real estate. Whether you are at the office or on site, a CRM software is designed to let you manage all your real estate clients on one platform since all your data is stored in the cloud. Packed with a host of exciting features like email marketing, leads generation, automated document uploads and a lot more, CRM for real estate is here to stay. In general, it lets you track lead generation campaigns, manage leads and upload contracts and documents seamlessly. With minimal wasted time and personalisation of communications, a real estate CRM system ensures a massive improvement in an agent’s work profile.
Statistics prove that with the help of CRM, real estate agents can generate more leads and close more deals and even retain their customers. Here are five interesting findings that will prove to you why integrating the real estate CRM software will boost your business by transforming your sales in 2019.
Brokerages are using CRM
According to the findings of a recent survey, approximately 71 per cent people reported that they used some form of a CRM service in their real estate firms. Of 782 respondents, over two-thirds of the real estate agents indicated that they used some sort of CRM service to keep in touch with their contacts. In order to stay competitive, more and more real estate companies are implementing CRM software to boost their business in the upcoming year.
Brokerages need real estate CRM tailored to their needs
In a recent survey, findings show that the real estate industry has the biggest demand for an industry-specific CRM- 18 per cent, more than double than that of the IT industry (6 per cent).
Andrew Friedenthal, a researcher at Software Advice, opines,
“What was unique to the data from this CRM Buyer Report, though, was what we discovered amongst our buyers’ reported industry segments. The largest percentage of buyers were coming from industries—like real estate, consulting, and manufacturing—that require specialized CRM solutions for their needs than a more generic SFA system won’t address. As the CRM market diversifies, with a greater number of vendors offering more niche systems, those businesses are now turning to software to address their unique needs.”
Let’s face it- a generic CRM is no good for a real estate agent. Agents require tailor-made CRM for real estate to boost their sales process. Since realtors have to deal with a unique sales process which includes online and offline leads and MLSs with different requirements, there is a need for creating and managing a property database and designing dozens of property proposals on an everyday basis. By managing contracts, properties, projects, transactions, emails, documentation, property proposals and so on, a real estate CRM helps perform tasks more efficiently.
Constantly managing an ever-growing database is a daunting task and doing this manually increases the chance of inputting wrong data due to exhaustion and time constrictions. Enter real estate CRM. The real estate CRM software integrates sales force automation features which can do these tasks much faster and easier and with more accuracy. Statistics show that in particular, contact management, scheduling reminders and tracking interactions and are the most called for features. The most requested CRM software by agents is contact management (88 per cent) followed by tracking interactions (80 per cent) and scheduling reminders (75 per cent). Here is a list of the most demanded CRM software by agents:
- Contact management- 88%
- Track interactions- 80%
- Scheduling/reminders- 75%
- Email marketing- 32%
- Pipeline/funnel monitoring- 31%
- Reporting/analytics- 28%
- Integration with other platforms- 20%
- Industry specialisation- 11%
- Central database- 10%
- Sales automation- 8%
- Mobile access- 8%
- Helpdesk- 6%
- Customer service- 4%
- Track team performance- 4%
Most agents engage in manual work
Recent research indicates that 72 per cent of prospective buyers still use manual data entry to manage their customer relationships. This is a time-consuming affair and sometimes agents may end up entering wrong data due to time constrictions and fatigue. The new CRM tool has automated features which do the work for you seamlessly without you having to hide behind a pile of notes and spreadsheets.
Small and mid-size brokerages benefit more
There is a preconceived notion with many realtors that a real estate CRM works best for only the large brokerages. However, research has proven this point wrong. Statistics have proven that smaller companies are now the ones most interested in adopting a CRM software:
Here is a list of the prospective buyer size by the number of users:
- Single user- 19%
- 2 to 5 users- 42%
- 6 to 10 users-15%
- 11 to 20 users- 14%
- 21 to 50 users- 9%
- 51 to 100 users- 1%
- 101 more users- 1%
To conclude, the trend shows that more and more brokerages will aspire to adopt a CRM in the coming years and that is likely to grow steadily in 2019 and after. These vital statistics prove that adopting a real estate CRM system not only makes agents’ performance more efficient but brings in ample scope for boosting sales.