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How to Choose the Best Real Estate CRM in 2024

Real-Estate CRM
July 31, 2024

With the rapid evolution of the real estate industry, using advanced CRM solutions is crucial to staying competitive. A well-chosen CRM can streamline processes, enhance client engagement, and drive sales growth. Discover the essential criteria for choosing an effective real estate CRM in 2024:

9 essential criteria for a real estate CRM

1 – Complete Automation

Automate all client communications and back-office processes. For example, automated campaigns for prospects and visit follow-ups can significantly improve sales efficiency. Your CRM should be capable of automating email, SMS, and social media marketing campaigns, helping to reach potential clients more effectively. Features like no-code landing page generation and ad-spend tracking are also useful to make these campaigns more efficient.

2 – Improved Sales Processes

Digitize and automate the generation of sales documents. Use a guided sales process, such as a “digital sales assistant,” to enhance client satisfaction and reduce errors. For instance, your CRM solutions allow you to track every interaction with prospects to maintain consistent communication and build trust. The use of electronic signatures and FINTRAC-compliant identity verification helps secure and expedite sales.

3 – Real-Time Inventory Management

Integrate real-time stock updates into the CRM, allowing clients to reserve or purchase properties directly online. A real estate CRM should provide a real-time unit map and manage inventories of related items such as parking spaces and storage units. This enables teams to see availability immediately and manage reservations efficiently.

4 – Project-Based Lead Management

Distinguish and categorize prospects by specific projects for targeted marketing and sales efforts. This allows better targeting of potential buyers and optimization of each sales team’s efforts. You should be able to track prospects interested in a specific condo project, segmenting communications and offers according to their preferences and level of interest.

5 – Integration of Marketing and Sales Data

Track marketing investments from lead generation to sale to determine the cost per lead, cost per sale, and marketing ROI. Your CRM should link marketing campaigns directly to sales results, optimizing the marketing budget and reducing unnecessary expenses. Additionally, advanced analytics offer real-time insights into campaign performance, allowing quick and informed adjustments.

6 – Technological Integration

Ensure that the CRM supports 3D project modeling tools, integrates electronic signatures directly into the online sales process, and provides a buyer identity verification solution compliant with FINTRAC. Additionally, real-time price optimization using AI helps maintain sales velocity and adjust strategies based on market conditions.

7 – Post-Sale Support

Provide a seamless post-sale experience with automatic contract generation and deposits. Your CRM should offer a customer portal where buyers can access their documents, select finishes in self-service, and schedule pre-delivery inspections.

8 – Artificial Intelligence

Use AI to optimize prices based on sales velocity and marketing intent. Automate client identity information recognition for increased efficiency. For example, platforms can provide valuable insights into client behavior and automate follow-up tasks, helping to adjust sales strategies in real-time to maximize results.

9 – Enhanced Customer Experience

Provide a user-friendly interface that allows buyers to choose design and finishing elements for their new home at their own pace. Automate processes to minimize errors and shorten delivery times.

What to avoid when choosing your Real Estate CRM?

Lack of Personalization

Avoid generic communications. Ensure that each message is tailored to the specific needs of the client to prevent them from being perceived as spam. For example, personalized emails that address specific interests and stages in the buyer’s journey are more effective.

Non-Integrated Systems

Avoid using CRM systems that do not integrate well with other tools. Disconnected systems can lead to inefficiencies and errors. Ensure your CRM connects seamlessly with other software you use.

Non-Compliance with Regulations

Ensure your CRM complies with data protection laws. Non-compliance can lead to legal issues and fines. For example, features that allow easy management of consent and data privacy settings are essential. More information on the different data protection laws in this article.

Discover how Onyx Technologies’ CRM platform can help you optimize your interactions with your customers, provide personalized service, strengthen loyalty and boost your success in the real estate market.


Author: Sébastien Rodrigue