Real estate industry in any country plays a very dominant role as it not only fulfils the basic need of shelter, but also contributes to the economy and infrastructure (with Commercial and Industrial buildings), thereby aiding the development of the nation. Hence, it is no surprise in finding it among the major industries in any country.
Real estate may seem like a simple business of purchasing, constructing and selling properties, but it comprises of various complex tasks in it. Moreover, it asks for large chunk of finance from the investors for a seamless flow and consumes substantial amount of time too. Thus, the investors are on the rocks by the end of the project, expecting quicker breakeven point and ROI.
However, gaining quicker sales in real estate needs proper prospect management, as the prospects seek their own satisfaction before investing the enormously large sum into the estate of their choice. In addition, the market for Real estate has always been tough and the competition is high, thus, getting prospects can be get even trickier. But consider implementing CRM software for real estate industry to help you manage your prospects like never before, read on to know how.
CRM for Real Estate:
Any CRM software can provide the following features to manage prospects
- Campaign Management: Manage your marketing campaigns with ease.
- Prospect management and follow up: From first contact until the end of the service, manage your prospects proficiently.
- Automation: Automate you basic process
- Sales Performance Management: track performance of your sales and conversion rates through sales pipeline.
- Integration: Integrate with third party application
- Mobile app: The mobility and all-important data in your pocket
However, you must be wondering, how can these age-old basic terms can help you manage your prospects. CRM software is all about innovation and wit of its user.
Real Estate CRM and innovation
Online booking: Online booking while works for other industries, we have seen a lot of conventional industries like groceries and services (makeup and salon) it is not far behind that real estate companies will be adopting online booking / transaction services to book their inventory. In fact, Tata housing saw NRIs and HNIs buying properties worth 5.5 Cr through its online portal without even feeling the need to visit the site themselves. Every real estate website has a virtual tour of their site and property. Integrating the website with a payment gateway to book a flat with a token money and saving the details of the transactions in the CRM makes online booking a reality for Real Estate industries. This gives the company to market its inventory globally and NRIs can easily book inventory or appointment online, reducing the efforts of the management.
Use of Gamification:
Documentation are a tedious and a long process for any company or customer. Gathering documents, submitting them and seeing if they are in line with the requirements can take a long time and the customer may also fear losing them. Hence, the real estate company can give a separate login to the customer / broker where with the help of gamification, they can know what documents they need to submit and keep a track of filing, compliances and deadline. This innovation if integrated with the CRM for Real Estate Company can help the management to easily record and keep its documents without any hassle and much before the deadline.
Broker Management: Brokers are a vital source for bringing in prospects for a real estate firm; they not only bridge the gap between you and the prospects but also help you in better sales. Hence, proper broker management is necessary. With CRM software for real estate, you can give them access to the inventory list (availability of plots or rooms), keep a track of what leads are generated by them, and accordingly calculate their commission and monitor their performance on a single screen.
Manage Listings: In real estate, substantial amount of marketing is needed to help your project reach up to right prospects; hoarding, newspapers, social media, online portals brokers, etc. are some major platforms. Now, Real estate CRM can help you efficiently manage your listings at one place, keep a track on how well your ads are performing, monitor CTRs, analyze and generate reports. It can also help you categorize which platform is working better for you and thus help you invest smartly.
Customer Service innovators: Modern day real estate CRM software in integration with customer service innovators can help you chat online with your prospects, contact them through calls and SMS, send well-designed emails, Schedule follow-ups and appointments. These customer service innovations can optimize follow-ups and result in better conversion rates. These help you to track the performance of your sales people too while bidding to improve and better your customer services.
When technology meets innovations great things ought to happen, and with real estate CRM software, who are well known for being a prodigy in customer and prospect management, innovation can just make it better. Thus, boost your sales and skyrocket your ROI with CRM for Real Estate Company, while your real estate software manages your prospects better and have more controlled and visible processes.
Author: Abhishek Sharma writes about business management software’s like ERP and CRM. A curious minded and enthusiastic writer, Abhishek has a great penchant for CRM, ERP and human resources. He writes for Sage Software Solutions Pvt. Ltd., a leading provider of business management software to small and mid-sized businesses all across India.