As the Indian real estate industry witnessed 65% decline in investments during 2013, which displays that the clients are cautious about investing due to recession, has made the sector sit up and look for different ways to tap more clients. These findings came to the fore in a recently unveiled report ‘Investment Market beat 2013’ by property advisory Cushman and Wakefield.
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Since recession continues to make its presence felt, more real estate companies and agencies have started to look for alternative ways to bring more customers on board. Market analysts feel that in the current technology driven world, a CRM tool can play an important role for the real estate agencies.
In this piece, I will try to explore the meaning/ definition of CRM and also throw light on its benefits for a real estate agency.
What is a CRM
CRM is a complete process of efficient tracking and managing sales lead. It covers various aspects such as reviewing the potential clients, lead generation, sales prospects and bolstering long term ties. It is believed that sales and marketing effectiveness can be judged on the basis of the data which has been generated.
Study claims that CRM tool is one of the most widely implemented strategies abroad such as US. This has proven to be effective in the management of an enterprise’s interactions with clients, leads and sales prospects. This process uses technology for organizing, automating and synchronizing prospects. Many of the real estate agencies have accepted that by using a CRM tool, it helped them increase their focus on customers (vendors, buyers, tenants and landlords) and also strengthen business in a better way.
What a CRM tool should do for a real estate agency
First and foremost, a real estate agency needs to understand its client base which comprises of prospects, appraisal contacts, vendors and buyers category include landlords, tenants, vendors, etc. An efficient CRM solution should have the potential to market to various groups/types of customers through different mediums such as SMS, letters, emails, brochures and pamphlets. It will remind about the right time when to carry out the follow up so that the prospects become clients soon.
In today’s growing competitiveness, a top class CRM tool should be able to play the role of a listing management solution so that it is able to post all the requirements to different realty portals/websites, generate flyers, stock and open home lists. Some of the other features which are fast gaining popularity are record buyer response, creating advertisements, generation of different type of reports and tracking of the contract dates (eg. deposit, finance, settlement dates).
Moreover, it should provide your clients (buyers) a type of personalized service which is provided to your vendors such as automatic contacting via email and SMS when someone lists a property. It should be smart enough to maintain customers, carry out follow up with previous buyers and vendors as well.
Conclusion
At the end, the worth of a CRM tool can be judged by its worthiness to reap profit for your company.
The article is also available at http://goarticles.com/article/Why-the-Indian-Real-Estate-Sector-Needs-CRM-Tool/9178568/
In this piece, I will try to explore the meaning/ definition of CRM and also throw light on its benefits for a real estate agency.
What is a CRM
CRM is a complete process of efficient tracking and managing sales lead. It covers various aspects such as reviewing the potential clients, lead generation, sales prospects and bolstering long term ties. It is believed that sales and marketing effectiveness can be judged on the basis of the data which has been generated.
Study claims that CRM tool is one of the most widely implemented strategies abroad such as US. This has proven to be effective in the management of an enterprise’s interactions with clients, leads and sales prospects. This process uses technology for organizing, automating and synchronizing prospects. Many of the real estate agencies have accepted that by using a CRM tool, it helped them increase their focus on customers (vendors, buyers, tenants and landlords) and also strengthen business in a better way.
What a CRM tool should do for a real estate agency
First and foremost, a real estate agency needs to understand its client base which comprises of prospects, appraisal contacts, vendors and buyers category include landlords, tenants, vendors, etc. An efficient CRM solution should have the potential to market to various groups/types of customers through different mediums such as SMS, letters, emails, brochures and pamphlets. It will remind about the right time when to carry out the follow up so that the prospects become clients soon.
In today’s growing competitiveness, a top class CRM tool should be able to play the role of a listing management solution so that it is able to post all the requirements to different realty portals/websites, generate flyers, stock and open home lists. Some of the other features which are fast gaining popularity are record buyer response, creating advertisements, generation of different type of reports and tracking of the contract dates (eg. deposit, finance, settlement dates).
Moreover, it should provide your clients (buyers) a type of personalized service which is provided to your vendors such as automatic contacting via email and SMS when someone lists a property. It should be smart enough to maintain customers, carry out follow up with previous buyers and vendors as well.
Conclusion
At the end, the worth of a CRM tool can be judged by its worthiness to reap profit for your company.
The article is also available at http://goarticles.com/article/Why-the-Indian-Real-Estate-Sector-Needs-CRM-Tool/9178568/
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