How to Build Real Estate ROI with a CRM
Real estate agents are invariably “people” people, meaning they love interacting with others, learning about their lives, and helping them find the perfect home. When it comes to closing deals, an agent’s ability to cultivate meaningful relationships is as important as (or sometimes more important than) the listings themselves or any sales secrets. Yet, the real estate industry has failed to embrace technology that facilitates the development of these relationships.
Why? Well, no good options exist. Other solutions are inaccessible due to cost, resource constraints, or lack of time. This forces teams to use a cobbled-together array of point solutions and/or rely on manual processes. Many agents still use Excel spreadsheets as their main tool, and let’s face it, it’s not 1993 anymore. None of these options are ideal.
Chime knew that with the right technology and approach, software could transform the way real estate agents sell. We also knew this technology had to be built on a foundation of input from real estate agents in the field, who struggle with pain points every day and know better than anyone what their needs are. So we interviewed hundreds of agents about what they wanted and needed in a real estate CRM — and built the product of their dreams.
Yes, a CRM costs more money than Excel, but the benefits are well worth it.
To start, Chime saves a significant amount of time and resources, which translates to reduced costs. By streamlining time-intensive processes, Chime cuts down on the amount of time agents have to spend on grunt work, such as updating lead profiles and responding to inquiries. The CRM automates workflow and takes care of nitty-gritty tasks. This liberates agents from their computers and allows them to make more robust connections with actual people (as opposed to wasting time on spreadsheet tracking). More time spent with leads ultimately enables agents to close more deals.
CRMs also allow users to keep a better handle on their funnels through analytics and real-time data tracking. Automation breaks the tethers between agents and their spreadsheets, but the value is deeper than that: CRMs allow salespeople to gain a better understanding of their customers’ wishes and needs.
Chime automatically tracks leads and gathers relevant information, maybe even information the client did not tell you on their own. Say, for example, a client told you they are looking at three-bedroom homes, but most of their online searches are for four bedrooms. That is powerful information for an agent to have, as it provides more insight and nuance into what the client isreally looking for. This saves time spent on properties that are not right and centers the conversation around what matters, which is key when nurturing leads.
A third benefit of CRM systems is their capacity to help leaders build their teams faster and more efficiently. These systems monitor how agents are doing — which agents are closing deals, which aren’t, which factors speed up the sales cycle, and more — making it easy to identify the agents who need coaching, as well as the best practices driving top performers. And, thanks to its collaboration and management tools, Chime makes it easier for leaders to create assignments, delegate, and check in with their agents.
CRM systems boost ROI by saving agents time and money, enhancing their selling process with information, and enabling them to close more deals faster. However, not all CRMs are created equal. For the modern real estate team, mobility is essential, as is leveraging the internet through social media, search engine marketing, and website activity tracking. Additionally, the technology must be easy to use and affordable.
In order to remain competitive, real estate teams need to invest in a CRM. But, like searching for the right house, it’s imperative to choose the option that addresses all of your needs and improves your life, all while staying within your budget.