How to improve your customers engagement for Property Agent?
Real estate is a business that is built on relationships. If a real estate brokerage doesn’t have the right infrastructure to manage relationships, agents will lose business. A CRM platform, which stands for customer relationship management platform, is key to managing relationships and closing deals; learn why.
What is CRM?
CRM allows agents to manage all aspects of customer relationships, including:
- Current clients who are in the process of buying or selling a home
- Past clients, who used the brokerage to buy or sell their home
- Future clients who have indicated an interest in buying or selling a home, but are not ready to move forward
Understanding the different segments within the CRM makes it easy to understand how the platform streamlines relationship management. Clients who are actively searching for their next home have different needs from someone who closed on a home last year, but who may refer the agent to friends or relatives or even use the agent to sell their home in a few years. A CRM simplifies client management while allowing agents to manage connections and track relationship data over time.
CRMs also let agents automate certain functions, such as emailing leads who inquired about listings or supporting engagement with previous customers using a newsletter or automated email function.
How CRMs Benefit Real Estate Agents
Relationships are built on timeliness — providing the right service at the right time. Because CRMs provide real estate agents with information about lead behaviour, they help agents provide effective customer service to clients through every phase of the real estate sales or purchase process.
Since CRMs display lead behaviour, agents can easily scan the system to see what listings users “favourited” or where they clicked in email newsletters. Rather than guess at what someone wants or needs, agents have precise information that lets them make informed decisions and provide high-quality customer service, turning more leads into clients.
Since agents can automate so many tasks within the CRM, they won’t need to devote as much office time to repetitive administrative duties. The time they recapture can then be used to show properties, market their services, meet with leads, and perform other valuable tasks.
Agents are more likely to sell something to a past client or to someone who was referred by a past client than a cold lead. Since CRMs make it easy to stay in touch with past clients to generate that referral, agents can increase their conversions and their income as a direct result of the platform.
Real estate agents often let follow-up fall by the wayside during busy periods. A CRM can promote responsiveness by systematizing the follow-up process, for instance by serving up suggestions of customers to call. This might make the difference in convincing someone to begin the home search process.
Data gathered can help agents refine their approach by delivering feedback on what’s working and what isn’t. For instance, agents can see where in newsletters leads clicked and tailor content to serve up more of what resonated with their clients. This takes the guesswork out of lead prospecting while increasing the relevance of content delivered, which leads directly to higher rates of satisfaction and a greater return on investment.
Many real estate agents are replacing a manual process with a CRM, with significant benefits to the organization, productivity, and time management. Less time spent searching for a scrap of paper where a lead’s phone number was written down translates to more time making impactful contacts.
Many brokerages turn to CRMs to increase efficiency, finding these secondary benefits a surprising bonus of introducing the new technology. After the initial learning curve — which can be steep if the CRM is complex — real estate agents can begin implementing the marketing, automation, and contact management services to best serve their needs, whether it’s serving existing customers or prospecting leads.