Please check your network connection and .

Top Real Estate CRM Software in 2020

Finding the best Real Estate CRM Software for your business is now faster and easier! Compare prices, reviews, features, and get free consultation to find the perfect software.

Real Estate CRM Software Guide

Table of Contents

What is Real Estate CRM Software?

Customer Relationship Management or CRM is emerging as the most important tool for analyzing and strategizing customer data and interactions in the real estate sector. This, in turn, helps the businesses to formulate their policies towards product development and customer retention. Since manual sorting of data is inefficient and prone to misinterpretation, most big companies, across sectors are now looking at ways to automate their CRM activities and are investing quite heavily in CRM software.

Real estate buying and selling are some of the most personalized and high-value financial decisions that one has to make. The real estate agents spend a considerable amount of time and resources to generate leads that can be translated into actual sales. A real estate CRM can capture and store the customer data, their interactions and share data and reports. Real estate CRM software can also automate many sales, marketing, and customer support workflow processes.

Key Features of Real Estate CRM Software for Real Estate Agents

Key Features of Real Estate CRM Software for Real Estate Agents

Based on the exact nature and requirements within the organization, the Real Estate CRM Solution can be heavily customized. Having said that, however, there are indeed a few basic features that all Real Estate CRM features should have. These are:

1. Automation of The On-ground Salesforce:

Basically aimed at preventing duplication of efforts between a salesperson and the targeted customer. An effective Real Estate CRM system can automatically track the contacts and follow-ups between the customer and the real estate company. If at a later point a different salesperson has to take up the lead forward, he/she already has enough data to refer to the customer and the previous interaction regarding the sales pitch.

2. Automation of the Customer Contact Centre:

Real estate CRM software can be quite effective in easing the call center executives’ job by using pre-recorded audio messaging that can help in managing customer queries and provide information, especially the ones that are asked more frequently. There are many tools in the CRM software that can cut down the call times and make the customer service efficient and predictable.

3. Use of Location-Based Service:

Most modern CRM has the technology for creating location-specific marketing campaigns. These are based on the customer’s physical locations and are tracked through GPS applications. These kinds of geolocation technologies can also be used for location-based networking or customer contact management.

4. Automation of Marketing Campaigns and Strategies:

A good Real Estate CRM system can automate marketing engagement with the customer by automatically sending marketing communication through emails or social media. The software can analyze and track customer behavior and send specific communications that target the requirements or queries of the clients.

5. Sale Forecasting and Analytics:

CRM software can aid the Real Estate sellers to formulate a scientifically arrived sale forecast hence defining the metric to analyze if the performance has matched the efforts put. The analysis of the hard data of the past sales campaigns can also determine the future course of action.

Benefits of Using A CRM for Real Estate

Benefits of Using A CRM for Real Estate

If thoughtfully planned, meticulously integrated and used well, there can be a number of direct and indirect benefits of Real Estate CRM software. Some of the notable benefits are

1. Saves Time:

The CRM software collates and stores all the customer interaction database centralized thus saving data management time. All the team members can see the relevant data of a prospective real estate customer or a hot lead and work on converting it into a sale. This speeds up the decision-making process and help the employees to become better organized.

2. Saves Effort:

Effective CRM systems can assign tasks and targets automatically to the individual, or a team of employees. This makes the system more data-driven, predictable and transparent helping the top management to focus their energies towards planning and execution of the other core aspects of the business.

3. Increases Revenues:

CRM software will be able to maximize revenue generation by helping management teams to know the customers better so that they can formulate data-driven policies and framework to meet the sales targets. By helping to maximize the operational efficiencies, most CRM provides the industry benchmark practices that have been tested to be efficient and effective towards improving processes and increasing revenues.

4. Easily Customized and Scaled:

Most CRM software is developed with long-term needs in mind and taking future growth into account. To that end, these software are easily customizable and scalable. Initially, a business can use software with some key functionalities of CRM, but with the growth of business operations, more functionalities and advanced solutions can be integrated.

5. Improved Social Media Marketing:

Reaching out to the prospective customers through their existing and frequently accessed social media accounts has advantages of cost and maximizes customer engagement. Most CRM these days offer integration with social media networks such as Facebook, Twitter etc. This allows real estate companies to track customer behavior, engagement, and real-time feedback.

Open Source Real Estate CRM Software

There are multiple Open Source Real Estate CRM Systems available these days which can be completely customized and are free to use. Since the source codes of this software are made available and are changeable, the real estate businesses can effectively manipulate the software to fit its specific requirements in terms of functionalities and application. Some of the best known open source real estate CRM tools are Bitrix24, Insightly, EspoCRM, etc.

Which Real Estate CRM System Should You Choose?

There is a large number of Real Estate CRM Systems available and it is very important to try and figure out which one is best suited for the individual needs of your business. Basically, the Real Estate CRM software should be easily customizable, easy to use, and train people on and should have rich features towards helping the business with sales, marketing and data management. The CRM system should also be easily integrated with the existing solutions and should be economical to install and use. It should have the latest security and accessibility features as well as good after-sales backup and support. The above pointers can be used as reference points towards selecting the most optimum CRM software for your needs whether you are a small business buyer or an enterprise buyer.

How To Select The Right Real Estate CRM Software

How To Select The Right Real Estate CRM Software

Finding a CRM Software for your real estate business can be an overwhelming task. There are plenty of CRM software providers available in the market today and this means you have a wide choice of real estate CRM system packages to choose from. But the question is - How do you select the “right” CRM software for the real estate industry?

Here are the significant points you should consider in order to make your selection process easy and quick:

1. Find Out Your Requirements:

While choosing a software, it is very essential to make a clear and concise list of your requirements before you start looking at Vendors. It would be a good idea to find a Real Estate CRM system that is industry-specific with features and tools designed to address your business requirements. The more specific you are upfront, the more detailed your vendors can be in their proposals. Unnecessary requirement definitions and ambivalent priorities often lead to poor implementation. Try to involve upper management in the evaluation process. Lack of participation from the senior level in the evaluation process can lead to poor acceptance and user adoption.

2. Keep Your Options Open:

Contrary to popular belief, there are more than just three or four primary vendors providing real estate CRM software. Although three to four software vendors have a majority of market share and revenues, there are more than hundreds of CRM solutions available in the market, all with varying degrees of strengths and functionality. Too many businesses have an uncanny knack of opting for a solution based on brand name. Instead, you should consider the options that are going to best meet your specific business needs.

3. Compare The Vendors:

Vendor comparison is something which you should do before CRM software purchase. One of the benefits of Vendor comparison is that it saves money for you. Vendor comparison is successful when you compare across reliable real estate CRM providers. You should select those companies which have a good track record of providing good customer service. It is worthwhile to consider the vendor’s reputation. While comparing the vendors that provide CRM solutions, it is essential to know whether they can prove to be a good partner for your business. The vendor should have a long-term stability to support and improve the solution in future.

4. Find Out What Others are Saying:

Ask your friends, colleagues, employees, and other contacts what they recommend or use for a business like yours. It is in the fitness of things that you should conduct thorough research on the internet. You can also hire a CRM consultant if the necessity arises. In any case, it is not good to assume you have all the answers if you don't have experience with CRM. Look for other independent sources of real estate CRM advice to verify what information is provided by the sales representatives.

5. Consider the Total Cost of Ownership of Your CRM Software:

You should have a clear picture of the total cost of ownership (TCO) of your CRM purchase. It is a truism that the costs involved with a software purchase are generally hidden and confusing. Apart from the software costs, the costs can include hardware, implementation, internal and external project resources, maintenance, integration, customization, training, support, updates, etc. Whether you need a turnkey solution or customized system depends on your choice. While a turnkey generates less cost in the initial deployment, customization keeps on burning a hole in your pocket.

6. Choose Cloud CRM Software:

With the growing popularity of cloud computing, it's no wonder why many businesses are going for the cloud-based real estate CRM software. Hence, over the years there has been the aggressive adoption of cloud CRM and bringing data in and out of the cloud is increasing more than ever before. Almost all CRM vendors have already made their presence felt in the cloud market with their offerings. It is good to avoid that software that is described as "on-premise".

7. Take a Test Drive:

Before purchasing a new real estate software, ask for a free trial. Most of the CRM vendors offer a free trial so that the users can test benefits, functionalities, and features. A free trial will give you a much clearer picture of what the solution can deliver. Moreover, don't ignore mobile users. As the BYOD system (Bring Your Own Devices) and mobility are gaining momentum, accessing CRM systems from desktops only is no longer an alternative. It would be a wise idea to select a real estate CRM solution that allows users to be productive on tablets and smartphones as well.

How Real Estate CRM affects Lead Conversions?

How Real Estate CRM affects Lead Conversions?

The way you manage your leads determines the conversion rate of your sales team. You may have the best collection of properties, an agile sales team, and an innovative marketing team. But if you fail to nurture leads in the desired manner, you will definitely lose sales. And this is the reason you must invest in a real estate CRM system for managing the client’s journey, right from acquiring a lead to closing it. 
The real estate CRM equips your sales and marketing team with the right set of tools to manage contacts and clients. How a CRM system assists your employees in setting up the pitch for conversions? Let us discuss this in detail. 

1. Organize your Leads:

The game begins with the process of collecting leads. And to accomplish this task, the marketing and lead generation divisions deploy various strategies. Some of them include online and offline advertising campaigns, email campaigns, social media posts, website optimization, gathering references, and so on. Listing properties on real estate portals and collaborating with real estate bloggers are also prominent sources of collecting leads.

Now once you have the lead, you can organize them into a proper format with the assistance of real estate CRM software. This is necessary to allot contact information to the salesperson. Moreover, you can easily manage contacts if you can access them in a particular format. You can also analyze the complete lead conversion cycle from the CRM dashboard. 

2. Personalized Interaction with Clients:

The communication begins once the lead comes in. The real estate software notifies you of the generated leads, giving you an opportunity to break the ice. Now, you can either use the automated responding system or you can personalize conversations. The latter is a preferable option if you are adamant on rendering a seamless user experience to the clients. So whether it’s a welcome message or a property alert, focus on personalizing conversations. 

As the CRM software keeps you notified of the complete lead conversion cycle, you can curate customized messages at every step. For example, if you come across a property with a sprawling lawn, you can notify customers regarding this property. The software will assist you in setting up the message and sending it at the right time. Moreover, it will maintain a complete record of client interactions. 

3. Automating Workflows:

The main purpose of the CRM software is automating workflows. Whether it’s categorizing leads according to business processes, allotting leads to sales experts, getting real-time notifications, managing calendars, segmenting leads database, or communicating via chatbots; the real estate CRM software takes care of these aspects. This is beneficial for the salespersons as they can shift their focus on cultivating relationships with the clients and also discover ways to close sales.

The CRM software also supports integration with third-party tools and property networks. If you are using marketing software, communication software, or any other software system, you can seamlessly integrate with the CRM software to automate workflows and exchange information. Integration with MLS networks and real estate portals also allows you to manage property listings. 

4. Retarget Existing Customers:

According to research, there is a 60-70 percent probability of selling to an existing customer. However, in real estate, a customer seldom makes a repurchase. Obviously, who buys properties again and again (unless it’s for investment purpose)? But your clients may buy in the future or they may act as referrals. Therefore, it is crucial to maintaining a relationship with your past clients. The real estate CRM assists in maintaining fruitful relationships with your existing clients. 

The software also allows you to create targeted campaigns for customers showing interest in particular properties. For example, if you have apartment options in a particular area, you can create an email campaign to target customers who have signed up to know more about apartments. In this case, the CRM software acts as the apartment management software. Similarly, you can customize the software’s segmentation feature to target customers. 

5. Reporting & Feedback:

Reporting & analysis is an indispensable feature of a real estate CRM system. It enables you to track performance, estimate sales forecasts, identify weak points, shuffle responsibilities, and make data-driven decisions. The real estate CRM software lets you measure, analyze, and react. For example, you can measure email campaign success rates, analyze the factors that can be improved (such as subject lines, time of emailing, etc), and react accordingly to maximize conversions. 

The reporting feature generates insightful reports that enable you to make quick decisions. And if you want more information, you can ask for feedback from your clients. Send them emails, text them, or ask them to leave a review on your website.  There are numerous ways to gather valuable feedback that will ultimately help you in improving your work methodology. 

6. Prepare for Conversions:

If you feel that you have not been exploiting the complete potential of the real estate CRM software, then it’s time to tighten the seat belt. Leave no stone unturned when it comes to nurturing relationships with potential clients. Accustom yourself with the CRM software and reap maximum benefits in the long run.

It is of utmost importance to ensure that the functions and features of the real estate CRM solution you are buying are compatible with your system. This includes checking browser compatibility, OS compatibility, server compatibility, etc. By adhering to the above-mentioned steps, you will be on a firm footing to ultimately select the right real estate CRM software for your organization.

The real estate CRM system provides multiple functionalities and should be analyzed towards its specific features that can be effective in maximizing its benefits for the business. Features such as Call Management, Lead Management, Access Control, Document Sharing, Social Media integration, storage options etc. should all be compared feature to feature across the available CRM software and accordingly a choice made.

Related Articles:

Showing 1 - 25 of 137 products

#1

Freshworks CRM

Visit Website

#2

Hubspot CRM

Visit Website

#3

Simply CRM

Free Demo

Frequently Asked Questions (FAQs)

  • A. CRM software for realtors helps them efficiently manage their business within minimal wasted time. It helps with handling real estate leads, tracking lead generation campaigns, uploading contracts and documents, managing your calendar, and more.
  • A. Some of the best CRM software for real estate are :
    1. InfoFlo
    2. vCita
    3. EngageBay
    4. Pipedrive
    5. scoro
  • A. Real Estate CRM software for real estate agents can have pricing based on its type and features opted by the agency/business. For an in-house real estate CRM software, it can cost up to $100-$1000 per user. It includes payment for maintenance and technical support, whereas, for a web-based or cloud-based CRM, it typically ranges from 50$ to 100$ per user monthly. These prices can be lowered for fewer features. For instance, small businesses that do not require full-fledged automation of the company can opt-in for certain features required as per their needs.
  • A. You need to keep in mind three crucial aspects that help your team adopt a real estate CRM to your business. Firstly, make your team understand the tangible benefits of it. Tell them how it offers time automation to save their efforts. Secondly, include your team members in giving their opinions while purchasing the CRM software. That way, they will gain slight ownership over the software and help them adopt it better. Also, try to choose a real estate CRM that is user-friendly and easy-to-use with its functionalities.
  • A. Every business needs software to help them maintain their clientele database. Same way, the real estate sector needs customer relationship management to develop robust relationships with their prospective clients. A CRM software can help any real estate company to automate their digital marketing, enhance the quality of relationships with its customers, and enables agents to utilize social media productively.

Real Estate Crm software in following industries

Rinkesh AnandaniBy Rinkesh Anandani | Last Updated: October 22, 2020

Cookies Policy | This website uses cookies to ensure you get the best experience on our website. Got it