How To Choose A CRM for Real Estate Development Companies
If you are in real estate development business and looking for a Customer Relationship Management (CRM) solution, it is important that you choose the right software solution as it has the potential to impact your revenues to a great extent. This is because it facilitates building a relationship between buyers and your sales agents. In addition, it helps you to track the progress of your marketing campaigns. There are many CRMs available in the market today, but the four things you should look for before buying a CRM are:
Whether it caters to the needs of the real estate industry
When it comes to the CRM for real estate development businesses, a generic program might not only prove to be very expensive but also too inefficient and ineffective. Further, it is not at all easy to customize.
Real estate developers and their sales teams that are working on new development projects require CRMs with specific functionality. This is very important for them to conduct their businesses properly and sell out projects successfully.
One of the unique aspects of the real estate business is the contracts. However, most CRMs do not incorporate this feature because it does not commonly apply to other industries. Therefore, you should look for industry-specific CRM, meaning ones developed specifically for real estate developers.
Whether it allows you to compare data from multiple projects
You may work on many new development projects at a time or deal with them sequentially, but you must be able to view the entire portfolio and be able to compare each of your projects. Different teams may handle different projects and their operating processes may also be different. But, the right real estate CRM would have the capability to provide the data on one platform.
Whether the CRM for real estate development companies allows tracking of sales revenue and performance breakdowns
To visualize projects’ progress, developers need an inventory stacking strategy. Further, the management of a project involves keeping track of overall sales revenue, movement of inventory, and performance of individual teams. Therefore, the right CRM for real estate businesses and marketers should provide information about sales campaigns and outcomes.
Whether it provides comprehensive and flexible reporting options
There should be a lot of flexibility with respect to generating reports to enable developers to get what they want from their CRM database. Real estate developers look at different factors for the purpose of understanding a development project’s success. The CRM should be able to generate information such as the number of new units sold, inventory status, and the types of interactions and marketing campaigns that contributed to improving sales. This means that the CRM has to offer greater functionality and enable a higher level of customization.
Zerone HiTech, a leader as far as systems integration is concerned, also offers software solutions which includes customized CRM packages. The company has partnered with Microsoft (Dynamics) and Oracle (E-business suite) for providing CRM solutions. Zerone makes CRM available On-Demand and On-Premises.