January 24, 2018

The Benefits of CRM for Real Estate Professionals


Few industries are as emblematic of our dynamic, sometimes chaotic marketplace as real estate. With minimal barriers to entry and the ever-present potential for earning power and flexibility, real estate firms of all shapes and sizes are in a constant battle for market share and customer base in a hypercompetitive environment. In such an atmosphere, client relationships are often the difference between success and failure, longevity and transience.

For that reason, real estate firms and agents need to integrate procedures and functionality that allow them to maximize the efficiency and effectiveness of their time. A thorough understanding of local markets is simply not enough to find and maintain long-term success. Instead, the relationships that are established today could very well determine the revenue streams of tomorrow. Therefore, customer relationship management (CRM) platforms have long since stopped being a convenience for the real estate industry and are now a critical component to establishing and maintaining a successful business.

Contactually understands this pressing need for efficiency within the real estate industry and has become a market leader in providing such solutions for a constantly changing marketplace. With millennials now comprising a full third of home sales, Contactually's innovative CRM platform provides real estate professionals the flexibility and connectivity to their data to best serve a fickle, demanding and ever-evolving demographic that increases in size and stature with each new day.

The Benefits of Customer Relationship Management Span Platforms, Devices

Our dynamic, digital world has created a splintered customer base across nearly all industries, real estate included. For a firm or agent to be successful, they must have the flexibility to access their customer data at all times of the day or night and from any location.

One of the distinct advantages of customer relationship management platforms is their ability to integrate features and characteristics specific to the real estate industry, providing professionals a constant connection with their customer database. The real estate market never pauses to catch its breath; the data that serves as a real estate professional's lifeblood cannot rest either.

CRM platforms integrate agent notes, market data, spreadsheets and all instances of customer communication within a convenient, streamlined and singular platform that should be accessible from desktops, laptops and mobile devices alike. The ability to quickly react to customer questions, concerns and demands could very well be a difference maker in an industry that is so dependent on positive relationships and word-of-mouth.

Balance Automated Efficiency and Personalization

Of course, constant connectivity can also have its drawbacks. Although seamless communication with a customer base is absolutely critical in maintaining and expanding a successful practice, it also places significant demands on time and other resources that are already stretched to capacity. To meet such demands, a real estate CRM platform must be able to automate many of the mundane but important tasks and responsibilities to maximize the efficiency of a real estate professional's operations.

For instance, if an agent is driving to a listing or showing a property to a client, they cannot easily attend to their emails, voicemails or SMS messages. To alleviate such barriers in communication, the CRM platform can automate communication with the client base to make sure all messages, no matter the format, are responded to in a timely and concise fashion so nothing slips through the cracks of typically busy day.

While automated messages are inherently more passive and distant than interpersonal communication, they can be extremely helpful in providing an informative and immediate response that bolsters a sense of professionalism and thoroughness that can breed customer loyalty over the longer-term.

Never Be Farther Than Arm's Reach

Similarly, every successful or seasoned real estate professional knows that a consistent connection with the customer base, both past and current, can provide repeated sales and lower customer acquisition costs over the longer-term. While past clients might not necessarily appreciate frequent sales pitches and offers, simple communication that is personalized and timely can provide the motivation for those past clients to once again seek an agent's service for future transactions.

Therefore, the importance of customer relationship management platforms includes the ability to track and distribute such communication, a feature that can pay for itself many times over by simply maintaining this type of communication. For instance, when a former client receives an email from their real estate professional on every anniversary of their home purchase, which might not include anything other than well wishes, that client is far more likely to use that agent's services for real estate transactions in the future.

When a book of business gets large enough, such communication can often grow unwieldy and cumbersome, even for a team of professionals. However, when an effective CRM platform is integrated into operations, the system can automate those calendar-based messages to remove the time-consuming burden from the agent while still benefiting from the human touch that can be so useful in generating repetitive business.

CRM Goals Should Include Choosing the Right Partner

At Contactually, our innovative CRM platform takes an integrative and customized approach that is often lacking in the one-size-fits-all world of digital customer relationship management. We do not cater to the big box mentality that tries to implement uniform features and functionality throughout industries with differing responsibilities and needs.

With a customer base that is consistently skewing towards a younger demographic, real estate professionals need agile CRM solutions that can provide personalized and immediate service to customers that increasingly demand such qualities. Contactually is the partner that can help transform your practice into the nimble, insightful and prompt organization that enhances your client relationships today to best ensure a successful and lasting future.