CRM for commercial real estate: what do you really need for business growth
While a lot of companies in different industries have been gaining definitely benefits from the automations of cutting edge CRM platforms, commercial real estate industry has lagged behind other corporations in terms of adopting the modern technological solutions.
According to Forbes, the commercial real estate market is in the same place that the financial services industry was 20 years ago. It means that real estate industry has been living in the past, and it does not take advantages of opportunities digital era.
Nowadays, real estate business should work smarter, not harder in order to make itself more effective and profitable. Business needs to push the envelope in using CRM and improving existing system for new challenges that face each real estate company.
Commercial agents have to do some day-to-day operations that never factor into sales, for example, preparing detailed financial analyses of their properties, income forecasts, accounting, and property reports. The most commercial agents are forced to piece all information together, using different solutions, which are costly and time-consuming. They are looking forward to being able to work with a single system that will able to take care of all their needs.
What value can CRM system add to commercial real estate business?
Creating a sustainable day-to-day operations
There is the “Daily Five” best practice in the commercial real estate industry that involves contacting 5 people per day, 5 days per week, 50 weeks per year. As a result during one year, you’ll have connected with 1,250 people! It`s look like a great client base, doesn’t it? Even if only 5 % of those connections have turned into deals, that would be roughly 63 sellings! Being commercial agent, you can use the CRM system to set reminders for your “Daily Five” activities, making call notes in order to know where you left off in the previous conversation with your client.
Improving agent`s follow-up
Ocasionally, leads can not be turned into deals merely because of communication dying down. CRM can help agents to keep of track leads and organize communication in the most effective manner.
CRM allows to manage agents deals from doing marketing activities for enreaching client base to closing deal. Closing process is crucial, particularly when agent has to handle multiple deals, which have many details and running parts. Using a good CRM, agents are able to keep track of their deals in order to know where each one stands at a moment’s notice.
According to CRM Productivity by REAL Trends, 96.2 % of agents are argued that thanks to CRM adoption, their productivity has been increased by at least 50%.
Improving agents sales performance
In the CRM Productivity study was found that firms, that offered a real estate CRM system to their agents, demonstrated 26.2 % increasing sellings per broker over those that did not implement a CRM.
Building lasting client relationships
Unparalleled service provides building long-lasting, valuable relationships with the clients. Customer-driven real estate companies, when they make data available to the right people at the time needed, are able to build long-lasting relationship.
Easy to use CRM reports for powerful management information
With the ability to build reports, agents can visualize all nessesary information and updates for their clients and prospects. Using CRM possibilities to demonstrate knowledge of the market, agents can build trust with their clients. It should be possible to send sellings reports in a given region directly from CRM or use this tool while you’re giving a presentation.
If you have any additional questions about CRM integration, particular Dynamics CRM in your real estate company, you can connect to us. Our experts will help you to improve you business and gain all possible benefits from technology usage.
Dynamica Labs is one of the oldest Dynamics CRM Partners and one of a very few companies with ISO 9001 Quality Management System certification for Dynamics CRM project delivery services.
For over 15 years we have been focused on 3 key CRM project goals: delivering measurable business results, following a cost-effective approach, providing the highest quality standards. Over the course of these years, we've taken part in hundreds of projects from SMEs to blue-chip global companies.