It’s true that most businesses in the modern age make use of some kind of CRM technology in order to make their interactions with their customers smoother and improve the number of deals that they get. In fact, it’s estimated that 91% of companies with more than 11 employees make use of this software. This highlights the importance and the benefits of using a CRM generally, but what about for specific industries?
It’s becoming increasingly common for businesses to make use of industry-specific CRMs and the property market is no exception. Many real estate companies are starting to make use of a Real Estate Investor CRM, which is a piece of software that is custom-built to manage ongoing relationships with property investors. These are becoming more common and the tools associated with them are becoming more capable of taking on complex tasks.
You Can Improve Your Overall Efficiency
One of the main benefits of using such a CRM tool is the fact that you will experience massive increases in your overall efficiency, which will have a positive impact on your bottom line as a business. The tools contained in such systems are all designed with ease of use, speed and better outcomes in mind.
Integration With Other Tools
One of the main benefits of a real estate investor CRM is that it can be linked with your other digital tools to create a unified work environment, without the need for constant tabbing out and manual updating. For example, such a CRM could easily be integrated with your accounting and email software, so that communications and financial documents can be easily sent to investors directly from the software itself.
There are a wide number of tools that can be integrated with a CRM, so it is always worth having a look to identify exactly what you can hook up to your software to improve your workflow.
Automation
Something that is becoming increasingly common in the CRM market as a whole is the use of automation to create a more efficient workflow and cut down on time spent on administrative tasks. For instance, automatic communications can be set to be sent out to your property investors about updates on their investment or details of a contract, which removes the need for a member of staff to do it. This allows your team to focus on more value-adding tasks, such as finding other investors.
As automation technology becomes more advanced, more aspects of the CRM will be able to be automated and this will increase the overall effectiveness and utility of these types of CRMs.
Improve Collaboration
One of the main benefits of any CRM is the capability it provides your teams for collaboration. For example, the management team can assign specific employees with specific tasks to complete, which will be reflected in the CRM. This allows them to quickly pick up their tasks and immediately execute them when required. For example, a manager may assign a worker to make a call to an investor about a particular topic, which they’ll then also be able to do from the CRM, instead of having to manually dial a number and call the investor.
Getting More Deals and Investment
Another benefit of a Real Estate Investor CRM is the fact that it will help you to close more deals and pick up more investment for your projects. This is due to the addition of a number of tools and features which allow for more efficient deal closing and management of the deal process from beginning to close.
Leads and Contact Management
This is the most important aspect of any CRM—it acts as the backbone of the whole system. As you make contact with new investors, you’ll be able to save their company and the contact information of the person that you spoke with, so you can easily contact them later. Another aspect of this is that you can log and track all of your investor interactions, which allows you to instantly get up to speed about what has already been discussed and the current stage of your deal with this investor. This increases your overall sales efficiency and chances of closing a deal.
Improved Data Collection and Visibility
CRM software serves a great purpose in the sense that it can provide a dashboard with a clear visualization of all of your critical data relating to your investors. It’s impossible to make effective business decisions without data and the information provided by the CRM will help you make better decisions. Some features include filtering using different data points, lists of investors and their overall contributions, and search capabilities to match investors with the best project for them. You can easily get ahead of the game by analyzing your data.
Improve Your Relationships With Investors
One of the most underrated points about using a real estate CRM is the fact that it will improve your existing relationships with your investors. By responding to requests quickly and processing everything to do with your investors’ transactions efficiently, you will leave a more positive impression on your investors. This is a great way to improve your reputation among investors, retain existing ones, and be referred to new investors by existing ones. This is possibly the most important factor to consider, as investor relations are the most important part of real estate development.
Conclusion
A CRM software is one of the first things that any company should invest in, especially if you plan to heavily generate new leads. Thankfully, there are now more options for industry-specific CRMs in the real estate market, which is allowing real estate companies to improve their sales process and get more investment for their projects, whilst maintaining better relationships with their investors. As the technology continues to develop and competition in the market increases, more advanced solutions for real estate investor CRMs will continue to be created, bettering processes for real estate companies and investors.
