Today’s real estate professionals need technology that’s constantly evolving, enabling them to find new ways of doing things faster and more cost-effectively. Even though specific software needs will vary depending on whether you’re a broker, property manager, leasing agent, or other types of real estate professional, the common need is for a platform that integrates all your operations and data.
In this blog post, we will look at how Salesforce has evolved and adapted to the needs of real estate professionals. We have also included some practical tips for implementing Salesforce in your organization. Read on to discover more about how Salesforce CRM redefines the advancement of the real estate sector.
CRM challenges in Real Estate
The real estate sphere has been a pioneer in adopting CRMs, and it has a history of adopting new technologies quickly. However, the CRM market has been pretty much dominated by one company – Salesforce. It’s worth noting that while this company has been an industry leader in the CRM space, it has not been without challenges.
First, real estate has been comparatively a more conservative industry than others, hence new technologies do take time to get accepted even when their benefits are comprehended. Second, the real estate industry operates in a highly regulated environment with strict rules on data storage, transfer, and access. This has posed challenges for some CRM providers that have not been able to meet those regulatory requirements and has led to occasional internal debates about whether Salesforce would be able to keep up with these challenges.
The biggest practical challenge faced by real estate agents and agencies has been the use of traditional and rather outmoded tools and processes for effectively implementing customer relationship management. It was always difficult to centralize the database and so valuable time was spent scanning the vast inventory before sharing any information.
The difficulty to track leads, work progress and inquiry status was yet another big challenge. The present-day multiple channel communication the customers expect added complexity to the operation especially in CRM, marketing and sales. Even after sales keeping in touch with customers is very important and with outdated technology/manual mode, this was not possible. Other operational challenges like missed meetings, slow turnarounds, misplaced forms and operational drudgery can all be cogs in the efficiency of the real estate business.
How Salesforce Manages Things
Before we jump into the details, let’s review the basics.
- CRM – Customer relationship management – keeping track of customers, their needs and wants, as well as how your company serves them.
- Nurturing – A sales process that helps turn prospects into customers. It’s about asking the right questions, guiding your leads through the buying process, and closing sales.
- Integration – System that can communicate with another system.
- API – Application programming interface – a set of instructions that tell one application or platform how to interact with another application or platform.
Why Salesforce is Important for Real Estate?
The real estate industry has long been a pioneer in adopting new technologies. As mentioned, data from 2016 shows that 71% of real estate organizations use CRMs, and the majority of these use Salesforce.
Most CRMs are fairly similar, with different approaches to the same challenges. What makes Salesforce particularly valuable for the real estate industry is that it has been a pioneer in adapting its technology to those challenges. With its industry-leading security and compliance, as well as its feature-rich platform, Salesforce has become the de facto standard in the real estate industry.
What Has Changed in the Past 15 Years?
The biggest change since the early 2000s has been the switch from on-premise to cloud computing. – On-premise – Where you have all the software and hardware in-house; you own and operate it. – Off-premise – Where you rent the software and hardware from a third-party company; they operate it.
This has led to a fundamental shift in the way companies operate. Companies have become less concerned with having control over data and instead focused on how to achieve better results with fewer resources. The challenges of security and data storage have eased, as cloud-based providers have adopted new technologies to address these concerns. Costs of ownership and maintenance have gone up for on-premise systems.
The Biggest Change: Cloud Computing
The changes in technology have been significant. But the shift away from on-premise to cloud computing has been the most significant change. It has changed everything from the technology to the business models of the companies providing software. It’s worth noting that Salesforce has been a pioneer in this shift as well.
It has also been a boon for smaller companies that have also been able to integrate Salesforce’s cloud capabilities. The availability of scalable, cost-effective cloud-based CRM has opened the door for many more companies to use CRMs.
Selecting a CRM for Real Estate
As you begin to explore the different CRM options, there are a few criteria that are worth keeping in mind. These will help you identify the system that’s best for your organization: – First and foremost, the system needs to be cloud-based.
All the systems you consider should be accessible via the internet so that your team members across the country can use them. It should integrate with your other systems, such as accounting software and property management software. It should offer a variety of functionalities, with different modules and options. Having a wide selection of features will help you find the best fit.
Salesforce satisfies all the above criteria and delivers more than your expectations, exactly why it has been the go-to platform with great success for most real estate players.
The Bottom Line Is…
The real estate industry has been a pioneer in adopting new technologies, especially CRMs. It’s been a journey full of challenges, and along the way, Salesforce has been a leader in adapting its technology to those challenges.
That’s why the Salesforce platform is so valuable for real estate professionals. It offers a powerful, feature-rich CRM, accessible via the internet and integrated with other systems. With its scalable, low-cost cloud-based model, it’s become an option for many more companies. It offers a great platform for any real estate organization, big or small.
If you need to throw more light on how Salesforce can support you to lead the future, then you should be contacting the right Salesforce partner – www.virtuenix.com at the earliest. Rest assured that you will ace your CRM needs and stride ahead.