Wondering how a CRM could benefit your brokerage?
Well, a customer relationship management (CRM) system could just be the best piece of software you’ll ever buy for your business. It plays an integral role in helping your business improve interaction with leads, streamline work processes, and grow revenue.
Speaking of revenue growth, did you know that for every dollar you spend on a CRM, you get an average ROI of $8.71? Or that marketers who use CRM see a 34% increase in productivity?
No matter what critics will tell you about real estate CRM, know this; if you’re not harnessing the power of CRM to manage your brokerage, you’re missing out on sales. In this article, we’ll discuss 4 reasons why your brokerage needs CRM.
1. Generate More Revenue
Implementing a robust CRM system is key to generating more revenue.
Don’t take our word for it. A recent Active Rain study that surveyed 2,000 real estate agents found that top-earning agents (those netting over $100,000 annually) spend 22% more on their CRM solutions than agents earning less than $35,000.
Moreover, CRM software helps you focus more on your follow-up activities. The main reason why leads don’t turn into customers is the lack of follow up. When you manage your real estate database with a CRM, you’ll always see the contacts on your follow-up list and know who to call, follow up via email, or engage on social.
2. Manage Lead Generation and Follow-Up Activities
Many prospective buyers are using sites such as Zillow, Trulia, and Realtor.com to search for properties they are interested in viewing and purchasing.
With a real estate CRM, you don’t have to scour these sites looking for leads. That’s because most real estate CRMs seamlessly integrate with those websites. Leading real estate CRM solutions, such as Follow Up Boss, will import and distribute leads from over 200+ sources.
Once the leads are imported, the CRM will automatically route the leads to your team. This way, the CRM makes leads conversion and follow up more efficient, delivering an incredible customer experience that results in an increase in sales.
3. Building Relationships
With a robust CRM in place, you can develop lasting relationships. And that’s indispensable in an industry where the degree of your success depends on your relationship-building abilities.
Note that dependability is one factor that can make or break relationships.
While the nature of real estate requires you to be reliable, at times it can be hard to meet all your clients’ needs. You’re busy with emails, phone calls, scheduling showings,…it’s easy for some tasks to fall through the cracks, and this can make you look unreliable to your clients.
But CRM offers tracking and accountability, so you’re able to monitor your schedule and see activities you promised to do that are fast approaching the deadline. For instance, if you tell a client you’ll schedule a showing on Friday at 3.00 pm; your CRM will ensure you don’t disappoint her.
4. Digital Marketing Automation
A real estate CRM allows you to automate most of your marketing and follow-up activities. This not only increases work efficiency but also helps to save time.
Your CRM will automate your emails and lead generation processes. It will help you customize your drip campaign for better results and increase your social engagement. CRM’s ability to drive digital marketing campaigns ensures leads are not lost at any stage of the buyer’s journey.