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5 Key Signs You Need a CRM for Commercial Real Estate Brokers

CRM For Commercial Real Estate Brokers

Sometimes, you really can’t tell when it’s time for your real estate team to adopt a new technology, including a CRM for commercial real estate brokers. Even when all the signs are there, sometimes you may not realize. 

This is, in part, due to the fact that change isn’t exactly a thing you look forward to. Especially when it seems like nothing is wrong with your current system.

For instance, a commercial real estate broker can be fine with simply updating new leads on an Excel sheet. What he doesn’t realize is the possibility of lead leakage, say, when he loses a Lead’s contact. Or when leads start to arrive in droves from the digital marketing team, and there’s really no management system in place to handle all the leads.

There are many scenarios like this that indicate the need for a CRM for commercial real estate brokers.  Let us look at them. 

CRM For Commercial Real Estate Brokers

1. Track Communication from all Channels

Online marketing is often done across several channels, from your emails to social media accounts to SMS inboxes. Therefore, it becomes harder to keep track of every conversation that has happened and monitor the response of those. Scattered contacts can easily lead to loss of valuable leads, making a mess of your lead nurturing process.

A dedicated CRM for commercial real estate brokers helps you to bring all your conversations under one platform, regardless of where they’re happening. Beyond that, it lets you track them and take action based on what stage a lead is in.

As commercial real estate brokers, you want to build stable relationships with your customers and then, create loyalty. Using a CRM for commercial real estate brokers helps you to achieve this in the long run.

2. Strategize Your Follow-Ups

Of all sales activities, follow up remains one of the most important. However, one wonders why 48% of salespeople don’t even try to follow up with a lead. If this is a reality for your commercial real estate team, it’s time to change that and try something different if you want to improve your sales volume.

Beyond just following up, a CRM for commercial real estate brokers helps you to do it faster and more efficiently. For context, salespeople who reach out to leads within an hour of receiving an inquiry are 60 times more likely to qualify the lead than salespeople who wait longer to contact prospects.

In the absence of a CRM, your salespeople can reach out to customers late or get notifications about inquiries later than usual. With a CRM, all of these are automated, including the follow-up message to the customers. This is especially important if the real estate brokers are unable to reach out to themselves immediately. Automated follow-up messages have become the norm as 50% of buyers choose the vendor that responds first.

3. Work on More Promising Leads

When the lead management system is manual, it is easy to have agents working the same leads without knowing it. How many times have you, as a real estate broker, heard from across the phone, “I already spoke to someone from your company?” Not only is it embarrassing for you, but it also sends the wrong signal to the prospect. He could draw dangerous conclusions that your team isn’t well organized or managed.

To avoid this kind of situation, you should consider getting a CRM for commercial real estate brokers. This way, you have an automated system that enables you to assign tasks and leads to your sales team. Also, they get notifications of these new assignments, which removes any room for excuses. They simply won’t miss an appointment or follow-up or call a customer that’s been called by someone else in the team.

4. Increase Efficiency of Your Sales Team

For most companies, including real estate teams, the excuse for using manual methods to manage leads is usually because the team is very small. So, maybe that’s understandable. However, once your team starts to grow, managing your leads and conducting other sales activities becomes a lot harder. Hence, the need of CRM for commercial real estate brokers.

Usually, a growth in your team also points to a need for more marketing campaigns across different channels. One of the best ways to bring that under one umbrella is by adopting a CRM that helps you manage everything in one place.

5. Handle the Needs of Your Sector

There are a lot of CRMs out there. A lot of them claim to be able to handle the needs of every industry. While this may be true, most of the time you may not realize that it doesn’t exactly fit into your team’s requirements. So, if your CRM doesn’t exactly make your work easier, it is time to choose the CRM for Commercial Real Estate Brokers.

Adopt a CRM that understands the needs of the real estate industry. A CRM that understands that the goal is to sell more properties faster.

CRM for Commercial Real Estate Brokers: LeadSquared

Research shows that technology will continue to drive growth in the commercial real estate space. One of such is a CRM for commercial real estate brokers, which can exponentially improve your team’s productivity and sales volume.

LeadSquared’s CRM for real estate is the perfect match for teams in the real estate industry and has increased property closures by 54%. Want to see the platform at work? 

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