Late to the party, most commercial real estate companies are now getting a gist of how important CRM is to their business. The advancement of technology has given new wings for many companies to fly higher than they ever possibly could. Technology like CRM has now become synonymous with efficiency.
If reports are to be believed than more than half of CRE companies believe that technology advancement are going to have a significant impact of legacy properties in the coming year. Over 80% of CRE’s are inclined to have predictive analytics and business intelligence as top focus.
Now it is estimated that almost 73 % CRE’s have CRM’s in place to help them conduct their business conveniently. But, they are still struggling to get their partners like brokers and other commercial entities to adopt CRM as well.
In this article, we will tell you how to get the most out your CRM, and help your CRM tool enjoy unprecedented success. So from outsourcing real estate data entry services to automation, here are 5 ways that will help your real estate company adopt a convenient CRM model.
- Automation of Information Update
As you may or may not be aware, Data management is becoming way more complex with each passing day. The same is true for real estate businesses and, it can be due to the following reasons;
- Technological Advances
- Information Application and Usage
- Regulatory and compliance standards
- Changing Business Priorities
It is mandatory for businesses to keep pace with their business governance. They are unable to do so because of a lack of internal resources like budget, skills, and staff. Hence it is advisable for companies to invest in automated tools and technologies to relieve the burden of CRM implementation from your team.
- Outsourcing
Many real estate businesses are intimidated by the idea of having to adopt CRM tools in-house. Luckily, for those who are still skeptical about the technology, there are third party service providers who can get the job done for you. You can get specialized CRM data entry service for your real estate business, for the efficient management of CRM. Outsourcing helps you focus on other core areas of the business without having to worry about how your CRM software is doing.
- Monitor Both Client and Prospect
Many lucrative multibillion dollar CRE deals have been made or broken based on the sanctity of this relationship. However, due to advancement in technology, both buyers and sellers are using digital channels to research inventory, and find a broker and agent. Experienced buyers are bypassing brokers altogether.
This is not good for the real estate business, and this has forced many brokers and real estate firms to work extra hard in building strong relationships with their customers. This is the most challenging part of the business as brokers or real estate firms cannot really predict the sentiments and shifting loyalties of their prospects.
That’s why we have relationships scoring and analytics tools today to change the game. They help firms monitor relationship trends and sentiments in real-time using advanced algorithms. Relationship scoring and analytics tools can be used to send alerts about wavering clients. Information brokers can use this information to save their relationships with clients.
- Customize the Experience
CRE firms usually choose a CRM that is not customized to the needs of their brokers. That is probably the biggest mistake they make. CRM tools like salesforce, Microsoft dynamics are popular tools being used in top companies today. Although popular they are way too hard to configure to cater to your broker’s needs.
Without the configuration, brokers might find it difficult to perform and your adoption process will ultimately suffer. The goal should be to help your brokers have access to critical client information without having to add up to the workload. This can be achieved by hiring an in-house manager or system integrator to streamline all of the information necessary by brokers to do their job.
- Equip Your Brokers with Pre-Meeting Intelligence
One of the most annoying things about CRM is that it automatically believes that users have the time required to client information that exists within a CRM tool. Brokers simply do not have the time to go through the data present in CRM, as they are always on the move. They need to prepare for meeting while on the move, and this makes it a tad bit more challenging.
Tools like introhive’s relationship automation tool help make that possible with features like pre-meeting prep reports. This helps brokers prepare for the meeting better by making them privy to critical information about the clients.
The information is delivered right into the broker’s inbox with relevant information like historical meeting reports, company notes, activity reports, and relationship trend analysis. Add to that there is no need for any sort of manual research.
