A good CRM solution is a must have for all real estate investors. Which are the best? How do you choose the right fitting software for your needs?
A Customer Relationship Management (CRM) tool is vital to have today. You really can’t be organized or very successful without one. At best you’ll get by making a little money, while completely blowing your potential. There are lots of choices. It may not be about one golden tool that is best for all real estate investors, but more about finding the right solution for you and your property business.
Why You Can’t Survive without a Real Estate CRM
You might think you can get by without one for a little while. Unfortunately, every day you put it off, the more you’ll hurt yourself and your future.
Real estate CRMs can do lots of things. Most importantly, they help you stay organized and ensure you store every contact so that you get the value out of your marketing and networking efforts. One day you might find this database is worth more than the rest of your real estate business and assets put together.
Lead generation is expensive. It’s even more expensive if you are throwing away 99% of your leads and deal opportunities. That’s what you are doing without a CRM.
All leads and contacts should go into your CRM. Then you can follow up, and close them. You can keep closing them as repeat customers. You can multiply them and extract a lifetime of referrals from them. Each can provide many lifelong streams of income.
The best CRMs will also offer a lot of automation so that you can save enormous amounts of time, spend your hours on the highest value tasks, and just keep your pipeline full all the time.
If you don’t do this, sooner or later your competition is going to out market you. They’ll be enjoying better profit margins and returns per lead and customer than you. You won’t be able to keep up. If you don’t have a CRM, you may not even have anything worth them buying in acquiring you. It’ll be more profitable for them just to push you out of the market. Don’t let that happen.
What to Look for in the Best CRM Solutions for Real Estate Investors
This is probably the most important factor. You need it to work with your other software and tools. Specifically, this may include your email service, voice or SMS broadcasts, phones and lead generation funnel. You want as much seamless automation as possible. Ideally, leads can automatically go in, and follow up can go out, without humans being responsible or taking up labor hours. Look for the ability to import and export your data from any other databases you are using now or plan to add.
- Ease of Use
It needs to be easy to use. If not, you and your team won’t use it. It will be money wasted and you’ll still be without a CRM and its benefits.
- Speed of Implementation
Look for something fast to plug in and start using. The longer it takes, the higher the odds you won’t follow through. Some features may take awhile to get around to activating, but the core of it should be usable very quickly.
Chances are you will need help at some point. What support and training options are available? Will they add to the cost? Are they limited?
Choose a CRM that fits your scale. If it’s too wide then it may be too big for you. If it’s designed for small business, you may outgrow it fast or end up having to continuously upgrade at more cost. Make sure it fits now, and for where you want to go.
You want to be able to make tweaks for your business model and brand. Though some can offer so much customization that you’ll never get it up and running.
Don’t bury yourself with more overhead than you can afford. Don’t go so cheap it ends up being more expensive.
Examples of CRM Solutions for Real Estate Investors
There are many different types of CRMs for real estate, depending on what your business is doing.
- Salesforce – Works for larger ventures, with tons of customization available
- Infusionsoft – Integrates email, forms, and more
- SyndicatioPro – Designed for syndicating multifamily property deals
- Zoho – Long running, robust CRM, with many other business solutions
- Propertyware – For managing property and turnkey investments
- Yardi – For those wanting to utilize institutional level software
For more resources check out our list of the The 22 Best Software Tools For Realtors & Investors