Real estate business is a profession of buying, selling or renting of land, buildings and homes etc. It is one of the most globally recognized sectors. The real estate sector provides increasing income yearly and thus it is contributing in the growth of the economy. The demand for office space and housing will never go out of trend. Even the government is providing various schemes and taking up initiatives to develop the real estate sector.
The four major types of real estate are-
1. Residential real estate
The residential real estate includes new construction and resale of homes. These homes are usually for families.
2. Commercial real estate
The commercial real estate includes shopping centre, medical concerns, educational institutions, hotels and offices etc. They are owned for productive work which provides income.
3. Industrial real estate
The industrial real estate includes manufacturing buildings and properties which are used for industrial practices like production, distribution, storage and research etc.
The land includes vacant sites, farms and ranches etc. These lands may or may not be used for further construction or agricultural practices etc.
The real estate industry at present has come up with various beneficial concepts for the customers. The real estate business has several tasks to be maintained such as –
- Monitoring of property listing
- Understanding client’s requirement
- Follow ups
- Documentation process
- Transaction monitoring
- Office management
Maintaining good relationship management becomes very important in the real estate industry. It helps the real estate businesses to manage contacts on a single platform, it helps to follow-up leads, status of enquiries etc. The real estate acts as a connecting bridge between the builders and the clients.
The Benefits of using Real Estate CRM in Real Estate Industry
- Maximises conversion rates.
- Makes the process of sales more smooth & transparent.
- Helps to get updated information of your sales executive’s activities.
- Keeps all the information of follow-ups & communication chain with the customers, in one platform
- Manages detailed information related to builders, their projects & pricing etc.
- Stores details of completed booking for future references.
- Gives timely reminders for pending or up-coming payments, pending documentation etc.
Effective follow-up techniques
1. Follow a “follow-up” schedule
The follow-up schedule includes a plan or a schedule which outlines when calls, emails or SMSs should be happening. The follow-up schedule should change frequently as time extends.
2. Ask for the best way to contact them
Every prospect does not have similar preferences. Some prospects may prefer calls and some may prefer texts. After your initial conversation make sure which will be the best way to contact them in the future time period.
3. Meet them where they are available
Some leads may not respond to calls and texts as well. And if you find that they are active on social media you can put in efforts to follow them on social media websites.
4. Continue building up the best first impression
As you are following up, you have already created the first impression. Now, you need to continue building the first impression and let them know that you care for them.
5. Understand their requirements and wants
Knowing your customers needs and wants are one of the best forms of getting connected with your leads. Try to understand your client’s requirements which may include various factors like comfort, family needs and personal desires etc.
When you are successful in understanding these factors you can provide the best service for your clients.
6. Make the best use of data
Cloud CRM helps you store and manage the overall information of your leads, clients or customers on a single platform. The customer data gives you an overall outlook that helps you to convert leads to sales, retain your customers and also ensure customer satisfaction.
7. Provide valuable content to your prospects
Provide valuable content to your prospects which contains information that is useful for the prospect. The content need not have to be sales focused but should relate to the services you are willing to provide which may fulfill the client’s needs and wants.
8. Know when to step back
You may have put in all the efforts to follow-up your lead but you should also be aware of – when to step back. Send them emails or SMSs which depicts your hope to work together in the future time period.
Now let us have a look at how Real Estate CRM software helps Real Estate Industry to maximize lead follow-up.
Once you are successful in contacting your lead, the next step is to follow-up. Follow-up with leads is one of the basic ways of converting leads into sales. You must always remember that your clients are the reason for your business and following different types of following-up will work differently for different customers or clients. There may be en number tricks, tips and strategies to follow up leads but the basic strategies like call module, SMS modules, email module, and visit module will not go out of fashion. Now let us know them in detail:
1. Call follow-ups
A follow- up call to a lead is much more challenging than the cold call. It keeps the sales cycle rolling through collection of information in order to establish a good relationship. Here are the benefits of using real estate CRM software for call follow-ups-
- You can select a data and time to schedule follow-up calls with leads.
- You can bifurcate the leads with respect to the lead’s interest.
- You can allot the call follow-ups to sales reps.
- You can set automated reminders or alerts to never miss a follow-ups.
- You can also keep a record of the calls made to the leads.
- The call status can also be updated depending on reasons like – did not pick the call, switched off, busy, not interested, out of reach etc.
- You can also mention what was discussed and interpreted in the previous call.
2. SMS follow-ups
SMS follow ups create a better connection with the clients. As the present generation is more on to using messaging apps they prefer SMS follow- ups. It is a quick form of following leads. Here are the benefits of using real estate CRM software for SMS follow-ups-
- You can automate follow-up messages to leads for any particular reason.
- You can select templates created by you.
- You can send personalized SMSs according to your client’s requirements and wants.
- You can set automated reminders and alerts to follow-up leads by SMS.
- You can have a record on the SMSs being sent to clients by your sales people.
3. Email follow-ups
Emails are also one of the most convenient forms of follow-up with your clients. The biggest drawbacks sending emails is – your client may close the email as soon as he spots a wall of texts. Thus, before you begin crafting your email, you should identify and clarify the objective of the email. Here are the benefits of using real estate CRM software for email follow-ups –
- You can send personalized emails to your clients depending on their requirement.
- You can select a date and time to schedule emails for leads.
- You can have a record of the emails sent by your sales reps.
- You can set automated reminders and alerts to follow-up your clients.
- You can bifurcate the email follow-ups depending upon their interests.
Read our blog – 5 Amazing automation features of CRMs you need to be using
The best real estate CRM software helps you to manage overall information of the clients at a single platform that helps the sales reps to make the right follow-up at the right time. There may be various methods of follow-up like calls, SMS and emails. But you cannot just keep calling your lead when you can or if you keep sending emails to your leads, he/she may not even bother to open the mail. Thus, as a sales rep you need to understand the effective method of following-up your leads with the help of the cloud CRM. The cloud CRM comes with various features and functionalities which will help your sales reps in the follow-up process.
These features make the sales process smoother and easier. The cloud CRM not just provides automated features for sales and marketing. It also helps you to maintain good relationships with your clients in the long run. Use of the best real estate CRM software in real estate industry helps you to reduce the operational cost as well. The real estate industry survives on the strong foundation of trust and belief. When the client is satisfied with the first business, he/she will surely prefer referring to the same real estate company for further buy or sale etc.
Read our blog – How to Use Online CRM Best Practices to Improve Client-Onboarding?
You can use SalesBabu Real Estate CRM which is specially designed for real estate business. It helps you to streamline the entire sales force, synchronize contacts and data on a single platform, align sales and marketing and also helps to handle existing customers, leads and references efficiently.
You might have already known that cloud CRM software has become a trend in the present business world! If you are wondering, why cloud CRM would be a better option? Click here to know more. There are various companies who have implemented cloud CRM software in their organisations irrespective of the size and industry type. Just make sure that you choose the right CRM system to explore its magic. If you wish to know more about the best CRM software, visit our website https://www.salesbabu.com/ and request for a free demo.