Whether they are residents looking to rent apartments or tourists looking for vacation homes, apartment rental is a big part of the real estate sector. The size of the market is evident from apartment listings at real estate marketplaces like 99Acres, Justdial etc. Every company is trying to sell to the same customers on the same platforms.
Therefore real estate companies must make every lead count. However, for some real estate sales teams, the results do not usually match the efforts they put in customer acquisition.
The reason for this can be attributed to the lack of CRM for apartment rentals. Let me explain.
Need of CRM for Apartment Rentals
It is a common practice for digital marketing teams in Real Estate to post listings on many websites.
However, a lot can go wrong because it is against several other real estate teams’ advertising. Here are a few points explaining why you should adopt a CRM for apartment rentals.
Get Quick Responses from your Sales Team
When a visitor lands on the property website, they have several options in the same category. One of the things that inform their decision to select a property is the response time from the company. 82% of people who make inquiries about your product/service expect an immediate response.
It is especially important on a platform where a lead can easily make another choice if you don’t reach out as soon as possible. Quick responses are the hallmark of a functional CRM for apartment rentals.
With the software, your sales team gets automated notifications that a prospect has filled your form (after clicking on your listing). Then, your team can reach out to them immediately and attend to their housing needs.
On the other hand, you can send automated responses if your team can’t attend to a customer as soon as they show interest. However, ensure that the messages are exciting and personalized enough to maintain the customer’s attention.
Manage Inquiries with CRM for Apartment Rentals
With the right CRM for apartment rentals, not only will you be able to respond to inquiries quickly, but you can also capture rental leads from all your marketing campaigns.
As compared to treating everything in silos, you can approach your digital marketing from a wholistic standpoint, including digital ads (Google, YouTube, etc.), social (Facebook, LinkedIn, etc.), traditional ads (print, TV ads, etc. via phone calls), website, real estate marketplaces (CommonFloor, MagicBricks, etc.). See leads as they enter the system in real-time.
You can quickly tell which of the real estate marketplace is generating more leads, and the ones you need to improve on.
Optimize Your Content
Since you have several ads running on different platforms, it can be difficult to tell if your ad copy is working and inspiring customer action. Except you have a CRM in place, for instance.
Let us assume you have the same listings on CommonFloor and MagicBricks. By merely taking a look at your CRM’s dashboard and the number of leads, you can decipher if you’re performing well or not. Often, this is down to the kind of content you have. If your competitors have better-written content and visuals, they have a higher chance of converting leads.
Instead of having the same copy and visual on all your advertising platforms, why not create one per platform? This way, you can quickly tell what is working and vice-versa.
Increase Efficiency of Your Sales Team
It is not uncommon to find real estate sales teams following up on leads just based on the fact that they visited their website or filled out a form. However, the truth is 96% of those who visit your website aren’t ready to make any purchases. So, someone could be checking for properties for the future or just for the fun of it.
Hence, how do you avoid members of your sales team chasing after unqualified leads who aren’t quite ready?
Start with a CRM for apartment rentals. It can help you prioritize your leads based on specific criteria, such as their budget, age, status, type of property they’re looking for. By doing aggregation of the lead score, it ranks the leads from the highest to the lowest. Therefore, your sales team will only work with the most qualified leads.
In other cases, the CRM software can help you filter out irrelevant leads, especially those who have dropped irrelevant information like wrong phone numbers and email addresses.
Improve Customer Relationship
Without a CRM for apartment rentals, understanding your customers can be quite tricky. How else can you segment your leads based on their interests and tailor their experiences and communications accordingly? The kind of emails you send to luxury clients will be different from that which you send to budget clients – their needs are different. So, is the language.
Therefore, to be able to maintain a healthy relationship, you need a system that keeps a record of all transactions, customer information, communication history, and so on. This is what you get with a CRM for apartment rentals.
Do more with LeadSquared’s CRM for Apartment Rentals
As trends continue to shift in the rental industry, the only way to keep up is by adopting relevant technology. You can’t afford to keep repeating old tricks. LeadSquared’s real estate CRM software is the right platform for making this leap. Featuring a world-class lead management system and a customizable dashboard suited to your team’s needs, your sales team has the opportunity to increase your property closures by 54%.
You can begin that journey by taking a personalized demo.