At the end of the day, real estate is a business centered around people. We all know that maintaining healthy relationships with clients is paramount to a business’s success, yet it is surprising how many industry professionals are still managing client relations the old-fashioned way – drowning in sticky notes, messy email inboxes, and getting lost in the deep abyss of excel spreadsheets.
In an industry driven by human interaction, maintaining the initial spark is what will keep business coming back in the long run. Networking and referrals have always been an essential aspect of this highly social sector, but when you spend long hours daily sifting through mountain-loads of contacts and property listings, you waste valuable time doing administrative work instead of nurturing potential leads.
Why should real estate agents use a CRM?
A tech-centric Customer Relationship Management (CRM) tool can accelerate the client management process to a new level of efficiency and productivity. As an agent’s network grows, CRM software functions as a tool to target specific audiences and allows agents to focus their energy on building long-term customer engagement.
A CRM will consolidate all client and property information into a single source without replacing the innate human aspect of the real estate business. With key details on hand, users become well-equipped to take action and deliver personalized service at any time. Task management also improves as productivity is enhanced, enabling agents to focus on what they do best – foster relationships. Read on to discover three ways a CRM can help you cultivate effective relationships in the real estate industry.
1. Prioritize the right relationships by measuring their value for your business
Do you ever feel like you are spreading yourself too thin? Nurturing relationships can be extremely time-consuming, which is why prioritization is essential. CRM software can help you determine which leads are most worthy of your time by measuring every interaction and identifying which leads are the most responsive to your marketing material. Data collected from the time spent on agent websites, listings looked at, or email open rates fed into an algorithm that classifies how far down the sales funnel they are.
Understanding each prospect’s values can help you narrow down thousands of data points to determine the right leads to pursue. Contacting clients should not be random; instead, it should be done by intelligently selecting clients who will ultimately generate the most significant ROI down the line. The key is to break down the behaviors that correlate to your business’s success and prioritize the relationships that serve the most value to you.
2. Create personalized marketing material to impress clients
Personalized marketing is highly effective in building stronger and more sincere relationships with your clients. Delivering the right message at the right time not only shows how much you understand your clients but will, in turn, generate higher conversions and sales.
By aggregating your client data in a CRM, you can impress your customers with tailored emails and listing documents according to their specific needs or interests. Developing customized content with a CRM that already has ready-made templates allows you to streamline your workflow and deliver quality service with speed and accuracy.
3. Increase the customer lifetime value
Obtaining new clients can be exciting, but customer acquisition can be expensive and wasteful without a retention strategy. Instead of neglecting cold leads or old clients, CRMs can help you prolong a customer’s lifetime by being consistent and timely with your interactions. For instance, you can set a reminder for three months before your client’s lease is up, so you can start re-nurturing them just in time to introduce another listing you deem suitable from their past track records.
In between seasons, stay in touch with clients with automated personalized messages. Whether it be a birthday, anniversary, or holiday, adding a personal touch can leave a positive impression and increase the chances of a future deal or referral.
Start maximizing your customer relationship building with a CRM
Great customer relationships aren‘t built overnight, so cultivating and nurturing them at every step of the customer journey is essential to boost your loyalty and reputation to win more sales.
As the leading, all-in-one CRM for real estate agents, Property Raptor ensures that every single interaction you have with a client is optimized for your own maximum efficiency. By collecting, analyzing, and storing data from various channels, such as a lead’s web browsing and email behavior, our CRM converts the valuable data into readable insights so you can always be one step ahead.
Contact us for a free demo today and learn how you can incorporate an intelligent CRM tool that builds and strengthens your client relationships instantly.
For more about real estate CRM, read our blog on the 5 key CRM features to look for to succeed in the industry.