Success in real estate is nearly impossible in 2019 without the support of a robust technology platform, this much is clear. But how do you know what is the right tool for you? In the end, it comes down to your return on investment. Is your real estate CRM empowering you to generate as much business as possible?
BoomTown Named Real Estate CRM Market Leader, Summer 2019
G2 Crowd recently announced their top picks (based on real user reviews) of the highest performing real estate CRMs on the market, and BoomTown was a clear winner. Users reviewed the CRMs based on things like; ease-of-use, automation, integration with other systems, database organization, mobility and accessibility, etc.
Choosing the best real estate CRM starts with 4 main categories. These should be the checkboxes you cross off as you shop for a CRM.
1Does it Create Tech-Enabled Agents?
The best real estate CRMs enable agents. Think in broad terms here. Enable agents to contact hundreds of leads in an hour. Enable agents to find ready-to-close opportunities. Enable agents to prioritize based on ROI (i.e. tasks more likely to generate $$$).
Tech-enabled agents are able to close 183% more deals. They see more responses from leads and convert on a faster timeline. Imagine taking a homebuyer from a 6-month window to 3 months. Go from getting 5 responses to 22 responses (from unconverted leads).
As you look at real estate CRMs, ask if they:
- Handle all aspects of lead nurture. Can the CRM automate communication? That way, you don’t have to email and call every single lead yourself.
- Filter and categorize leads based on readiness (or likelihood to close). A good real estate CRM can match leads to properties and suggest they look at it.
- Give insights into website visitors. Can the CRM tell you which leads have visited the website in the last 30 days? Those could be hot opportunities to prioritize.
2Is Workload Reduced?
Technology like a real estate CRM should reduce work. Not add to it.
Yes, it might be a new process. In the beginning, it’ll take time getting acclimated. But in the end, you should be able to reduce the work that’s not dollar-productive. Example: Responding to new leads. A CRM can automatically send an email you’ve programmed (versus you doing manually). Think about the time saved.
In real estate, time is money. Look for communication tools and the CRM’s ability to organize leads/tasks. Agents should be sharing their knowledge, not finding people to share their knowledge with.
Beware! Some real estate CRMs will have lots of features. “Bells and whistles.” They’ll promise to save time. But you need to examine how easy the system is to use. Does it take 20 minutes setting up CRM tools? Or does it take 2 minutes? How is their support? If you can’t get someone on the phone to walk you through something, you’ve got a problem. BoomTown’s support is unparalleled.
If the CRM isn’t easy to use, you’ll only add work for yourself. You’ll be busy trying to figure out new software. (No thank you!)
3Can It Work with Other Tools?
There’s no “all-in-one” tool for a real estate business. Anyone promising it is fooling you. A real estate CRM can do a lot, but you’ll still be using other software like showing apps and office management tools.
This is where you’ll want to ask about integrations. Can the real estate CRM work in sync with other tools? If so, which ones? A good example: BoomTown integrates with dotloop. A real estate CRM with transaction management software.
You’ll want to make sure the CRM is flexible to your business. Not the other way around.
4Does the CRM Go Beyond Organizing Leads?
For real estate agents looking to move beyond spreadsheets and rolodexes of leads, a CRM is a natural next-step. But we’re past 1999.
The best real estate CRMs do more than organize leads. They match leads to properties. A CRM should recognize that Jack Catterton is looking for colonial-style homes around ~$300k. It should see Jack is interested in San Diego properties. Then it should take that data and see what homes are available, and tell you: “Jack would be a good fit for these 27 properties.”
This allows you to look like an expert without having to ask homebuyers 20 questions. When a new property hits the market, it allows you to instantly find homebuyers who would like it. That’s something especially helpful for large MLS markets.
(Pssst. Want to go even further? How about qualified, transaction-ready leads?)
Good news. BoomTown recently announced a new solution, Success Assurance.
Success Assurance offers the perfect mix of tools and services to handle lead generation, lead qualification, and lead management, serving transaction-ready prospects to agents. Specifically, Success Assurance:
- Combines BoomTown’s CRM technology with RealContact’s texting capabilities and a new calling service
- Acts as an extension of a real estate team, with an ISA-like concierge responding to new leads 24/7, within 90 seconds
- Enables agents to work with transaction-ready leads
- Leads are engaged and nurtured for up to one year from registration
- Clients can customize scripts, monitor conversations and jump in at any time
“In just ninety days we’ve already seen 170% ROI,” said Joe Garafolo of Waterfront Realty Group. “Knowing someone is reaching out right away is a huge relief and not having to waste time with bogus leads is very important for top-producing agents.”