What is a Real Estate CRM?

January 12th, 2022
What is a Real Estate CRM?

Relationships are pivotal to success in the real estate industry. Agents spend weeks, months, and even years working hard to find the right homebuyer or renter for a property. However, if you're a real estate agent with more relationships than you can keep tabs on, then touching base with everyone can become overwhelming. One of the best ways to ensure you're following up with all of your potential clients is with a real estate CRM tool. 

What is a real estate CRM? 

CRM stands for customer relationship management. A real estate CRM is essentially an organizational tool to help you keep track of every potential client on the renter to homebuyer journey. The convenience of a real estate CRM is that essential information about your renter, and buyer relationships are housed in one location.

According to the National Association of REALTORS®, 31% of agents and brokers said customer relationship management (CRM) resulted in the highest number of quality leads in 2021. Real estate CRMs are a powerful PropTech extension for agents' marketing efforts. Attracting the right leads and segmenting them into your database helps agents turn a lead into a sale.

What are some distinct features of a real estate CRM?

1) Rental Client Management 

  • Fostering loyal connections with renters is essential to transition them over to homebuyers. However, keeping tabs on all your potential homebuying candidates is cumbersome. The industry's future is rental client management software that allows agents to access their leads organized in place. 

2) Data on Buyers and Renters 

  • CRMs allow real estate professionals to ethically collect data on their buyers and renters. CRMs only collect necessary information related to real estate transactions and client behavior. Gone are the days where real estate professionals were forced to keep track of everything in an excel sheet. CRM data will automatically track any progress regarding your buyers and renters. For example, if a renter's lease is almost up, it's a good time to start conversations with them on potential homebuying opportunities.

3) Manage Property Details

  • Having property details ready at any moment can help secure a deal for a potential buyer. CRMs go beyond keeping tabs on your relationships, it can also help agents stay organized with their properties. If you have a property that seems like a perfect fit for a potential buyer, you can easily send that information to your contact. This feature is also convenient for real estate agents managing multiple listings and relationships that are out of state.

4) Automated Follow-Ups 

  • Never forget to follow up with clients with CRM automation. This is a crucial feature to ensure you're nurturing your leads without missing a beat. The cadence of your outreach efforts keeps you top of mind for buyers. If a renter is on the fence about a potential property, CRM automation will seamlessly notify about the status of the property. With the fast pace of renting in. With the power of CRM automation, agents can guarantee that no relationships are overlooked.

Real estate CRMs give agents the ability to deliver an unparalleled customer experience. As a result, it is singlehandedly one of the most effective tools real estate professionals can have in their arsenal.