4 Tips To Maximizing Your Real Estate CRM
To effectively implement a customer relationship management system for real estate, one must keep in mind that it is more than just picking the right CRM software and automating your business, which is also important, mind you. But, crucially, when it comes to the real estate market, more than any other, it is vital to humanize the whole experience. After all, your customers are not going to trust a mere bot (an app or program or IVR) to aid them in making one of the most important decisions of their life, i.e. to buy a home. Given the huge sums of money involved in real estate CRM deals, it is natural for them to be to over-cautious, suspicious and tentative when communicating with a non-human entity. So regardless of how the employment of certain technologies may help you automate and streamline your sales cycle, your business, at its heart, must emphasize on satisfying human beings and winning their trust.
Here are 4 tips to enhance your real estate customer relationship management system:
- Align your CRM software with personal relationship building efforts.
Always know that your CRM software is there to help you do your job better, and not to do your job for you. Besides, when making financial decisions, people seldom like non-linear modes of digital communication. It’s no secret that people prefer human beings to machines. So use your CRM software to leverage essential data about your clients and device timely and strategic business interventions accordingly. A one-size-fits-all approach will definitely not work in the real estate market. Instead, use the CRM software to outline customer profiles and detailed client-specific needs accurately. Track all interactions at every level. Capture various profile prerequisites like area required, their budget, preferred location, type of property, whether buying for investment or otherwise etc. precisely. This will not only help you prioritize your leads and ongoing deals but also help categorize your assets so you can promptly present them as per client requirements. This will save your agents time, and help them avoid posing embarrassing questions to your clients.
- Old-fashioned telephony goes a long way.
You can float the best online marketing drives via social media, property websites and through email drip campaigns, but in the end, it’s how your sales representatives engage with your clients that counts. Regardless of how you have employed the latest and current technology to reach out to your prospective customers, know that everybody prefers to talk to human beings as opposed to an annoying IVR or an overly complex, interactive application or a difficult to navigate website. Make sure you have a 24/7 helpline for your clients to reach you at, investing in a small call center will reap huge benefits in the long run. Make sure you call your prospective clients regularly, but be careful not to overdo it. It’s treading a thin line, too few times and they might feel neglected, and too many and they might feel pressured. Find the right balance. Experts in the real estate business have devised a rule of five: Focus on your top 5 potentials, call them five days a week for five minutes each. This has proven to be most effective.
- The customer is always right. The old adage is true.
You may be dealing in hundreds of properties, and tens of clients, all with different buying potentials and from various backgrounds. It is possible that you might develop a sense of superiority given your unique industry perspective, great marketing insights and vast experience in the real estate business, but be patient with your clients, hear them out first. Be a knowledge broker, share your expertise, and guide them well without coming across as overbearing. Be forthright and honest about your suggestions, sincerity is always appreciated. This will help you gain your client’s trust and perhaps even lead to referrals. Do not be pushy, know when to step back and let your customer have his say, this is critical. You may have a whole lot of information that you’re eager to share with your customer, but try not to bulldoze him with all that information. This could backfire badly. Communicate your suggestions effectively to create a delightful experience; if your customer feels good about talking to you, half the battle is won.
- Measure your sales cycle metrics. Always seek feedback.
Have your CRM software designed in such a way that all customer engagement is recorded at every level of the sales cycle, be it email communication, text messages, interaction via company app or phone calls. Ensure that you address customer grievances as soon as they occur, bad news travels fast. It is important to deal with the issue as soon as it occurs. Value their feedback; make sure you let them know that their suggestion(s) will be implemented to serve them in the future better, and personally follow up on it. At the same time, reward good feedback with gifts and freebies should it convert into a sale. People love getting gifts, regardless of their value. It is something people don’t forget easily. This will not only help build a long lasting relationship with your existing clients but also help your business grow through referrals. Build a mutually supportive culture within the organization, wherein the best practices are shared and training is offered to develop the right skillsets to bring out the desired results.
Author Bio: Apoorv Bhatnagar is a Digital marketer at Freshworks Inc. He generally writes about software that improve your marketing, sales or hiring process”