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Under-Utilizing Your CRM? Most Use Only 10%

Customer Relationship Management (CRM) software does many things, and the Real Estate Technology Institute thinks many brokers fail to take full advantage.

NEW YORK – Based on feedback he’s received from vendors, Craig Grant, founder and CEO of the Real Estate Technology Institute, estimates that few real estate professionals use more than 10% of the features provided by their customer relationship management (CRM) system.

He says today’s CRMs offer a number of tools to increase lead generation because they let agents track things such as the names of clients’ family members, pet names, birthdays, anniversaries and other types of information. CRM users can also customize messages based on clients’ interests, providing they enter that data.

The most robust CRMs have instant communication tools that forward incoming lead information. With that info in hand, agents or a team member can immediately respond using the CRM’s chat function with a text or a phone call.

Lead-routing systems allow users to track the speed of responses and conversion rates, helping brokers maximize profitability by sending leads to the agents most likely to convert them.

When agents conduct a transaction, CRMs can help them set up workflows to make sure nothing gets missed. They can designate who will meet inspectors, obtain required signatures on disclosure documents, review documents for compliance, and so on.

When selecting a CRM vendor, Grant says real estate professionals should determine whether their system can handle the number of leads they’re generating, as well as the number of team members they have.

Source: Inman (08/24/21) Ross, Bernice

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