11. Recap
Customer Relationship Management (CRM):
The strategy used to manage customer
interactions
CRMs help Real Estate agents organize
leads and contacts and manage
communication easily and effectively
Welcome to the What is a CRM video –part of the Trulia One training program.
In this video, we’ll focus on two very basic concepts - (CLICK) the definition of a CRM and (CLICK) explain how CRMs are used in real estate.
CRM is an acronym that stands for (CLICK) Customer Relationship Management.
It describes the strategy an organization (CLICK) uses to handle customer interactions.
More often than not, a CRM is a type of software that helps a company and its employees manage the sales process. (CLICK) Imagine if you had to keep track of all of your customers on paper – your desk would be piled high with notes, reminders, invoices, letters, and so on.
One example of a common CRM strategy is the rewards card program (CLICK) offered by many supermarkets.
The store gives its customers (CLICK) a free card that gives them access to special deals and discounts when they swipe the card during checkout. But that card also tracks everything the customer buys and allows the store to create an extremely detailed customer profile based on his or her purchasing habits.
Armed with that information, the store can (CLICK) then offer its customers targeted coupons and other programs that will motivate its customers to buy more (CLICK) products from that store.
Our very own Salesforce (CLICK) is a CRM for our Agent Sales department. Without Salesforce, it would be impossible (CLICK) and chaotic to keep track of contact preferences, back and forth communication, products owned and all account actions between our three offices.
In real estate, agents need to keep in touch (CLICK) with prospects and clients easily and effectively.
In particular, they need to be able to quickly access names (CLICK), addresses, phone numbers and email addresses.
A robust CRM helps agents coordinate leads with special lead-management activities and frequent communication.
It’s important to know that some real estate CRM’s cater towards single real estate agents, (CLICK) while others are designed to support entire offices and franchises with several agents that work with lots of consumers.
A CRM allows a real estate agent to (CLICK) funnel leads, send email, mail merge letters and make phone calls with the touch of a few keys.
They are also able to track and follow-up on leads without having to remember to do it.
The CRM does the work of reminding them (CLICK) and often times automatically generates communication or contact with the client.
A CRM that has been tailored to the unique profession of a real estate agent and the real estate industry is advantageous. (CLICK)
They are usually programmed (CLICK) with form letter and other correspondence templates that an email and use to plug and play communication and information to prospects and clients. (CLICK)
They often have sample lead follow-up plans built in so its easy for an agent to apply when marketing a fore sale property.
They also have programs you can launch once you’ve secured a buyer for your listing.
Most CRMs targeted towards the real estate industry have a (CLICK) monthly fee for web access and sometimes have a set-up fee attached.
Prices can vary, but its safe to say, the more robust of a system with its features, the more expensive it is per user and for an entire agency or brokerage.
To recap, CRM stands for (CLICK) Customer Relationship Management and describes the strategy used to manage customer interactions.
A CRM can help (CLICK) real estate agents to organize leads and contacts and manage communication easily and effectively.