Selecting a CRM platform can be a “make or break” decision for you and your business. Choose right, and you’ll see big benefits—increased sales, efficiency and better reporting. Choose wrong, and you’ll waste a lot of time, energy and money on a CRM system that no one wants to use. The stakes are pretty high when choosing the best CRM platform for your real estate business.
A lot of agents and brokers base their CRM platform decision solely on what features it offers and how much it costs. These are important considerations, but there are other key factors to consider. Also, keep in mind that very few agents and brokers give up using their CRM because it lacks features. Similarly, very few that are highly successful with their CRM complain about the cost.
Successful CRM systems are worth their weight in gold. So what else matters when you’re looking for a CRM? Well, we’re glad you asked.
1. The company’s plan for the product. Actions speak louder than words, so if you want to know where a company will be in the next 5 years, take a look back at the last 5. You don’t want to bet your business on a vendor that may not be around, or one that just popped up claiming that they have the “next-best-thing in CRM”.
Also pay attention to what they say. Statements like this should raise a red flag:
In a prepared statement, the Zillow Group said this about Market Leader “While we are supporting the Market Leader products for existing customers, we are no longer actively selling Market Leader’s advertising or CRM products to new clients, and we are evaluating how Market Leader fits into Zillow Group. We are investigating a variety of possible scenarios and don’t have any specific plans to announce right now”.
2. Track record for execution. When you pay for a CRM, you pay for a lot more than just the features. You’re also paying for the surrounding benefits and technologies associated with a top tier CRM system. Think about things like stability, reliability, system uptime, and how often they release new features.
3. How well they play with 3rd party systems. Let’s face it—no vendor can do everything, so look into how well they integrate with today’s best-of-breed solutions. Do you have to struggle to key in leads, do they integrate with email and marketing systems and your MLS? When it comes to software today, it’s crucial to be open.
4. Is it smart and will it guide you on the path to success? Consistent follow-up is key to repeat business and referrals, so does it help you stay in touch? Does it know who’s who in your database and give you a small number a day you should reach out to? Does it prompt you after reaching out to record some notes and schedule the next follow-up? Having a process in place to ensure you keep in touch is paramount. Up to 60 – 70%of your business can come from repeat and referral business.
5. Does it help you effortlessly answer the questions your clients are asking? Can you send the most up-to-date and relevant neighborhood info, and is it based on data from the MLS? Your clients want to know how the market is today—not how it was months ago based on outdated data from public records. They can find that information on the portals.
6. Does it help you track your sales pipeline? Are you prompted to regularly qualify your clients so you know where they are in the buying/selling lifecycle? Does it help you determine the quality of web site leads and are they tracked on social media?
7. Is this truly a CRM that supports the full customer lifecycle? Or is it lead management, contact management or transaction management disguised as a CRM? As you grow your business, you will need the benefits of a true CRM to increase the number of transactions and clients you manage as a top producing agent, team or broker.
These are just a few questions you should ask yourself when selecting the vendor you choose to be your partner. According to Don Hutson’s book “Selling Value: Key Principles of Value-Based Selling”, the #1 reason salespeople aren’t successful is they fail to organize their time and effort. Pick a CRM that is designed to do the heavy lifting, so you, your team or brokerage can focus on maximizing sales.
If you need help, give us a call at 1-800-821-3657. Our solutions are designed to make you successful and we are here for the long run—our record speaks for itself.Tags: Contact management, CRM, Follow up, Lead conversion, Lead management, Market Snapshot, Marketing, Mobile Real Estate Marketing, Real Estate, Real Estate Marketing, Top Producer CRM