Anyone who has used a real estate CRM to run their business will tell you that making good use of one is a no-brainer. A CRM allows you to build detailed client profiles, oversee transaction management, and be more organized and productive. But did you know using a CRM can also increase your profitability?
In this blog post, I’ll go even deeper and share 4 big ways that using a real estate CRM will save you a significant amount of money.
- Organize and automate daily administrative tasks in your CRM to streamline workflow
- Record all transaction details in your CRM to save money on a transaction coordinator
- Track the source (marketing) of new leads in your CRM to fine-tune marketing efforts
Postpone hiring an assistant – As a real estate agent, the most important work you can be doing involves listing and selling. That’s what generates income. But running a successful real estate business also requires that you stay on top of a myriad of daily administrative tasks.
You could hire an assistant…or you could invest in a CRM.
Instead of spending time writing up a new paper To Do list each morning, your CRM can automatically provide you with a daily list of what tasks need to be completed for which contacts/listings/closings. In Realvolve, this is set up through a feature called Workflows. It may not sound like much, but the alternative is that you have to review each property folder checklist or evaluate your contact database to see who you need to call that day—and that takes a lot of time!
Then, hire a virtual assistant – When you do get to the point where you must hire an assistant, that person doesn’t have to physically be in your office. Your CRM makes it easy for you to hire a virtual assistant (VA). Set them up as a user, start the workflows, and the VA will know exactly what to do because they will have that automatically-generated task list right in front of them!
Don’t pay a transaction coordinator – There was a transaction coordinator at my real estate office and the broker provided that service for free. That said, I would still check with her a few days prior to closing to confirm that everything was done. I had every last detail recorded in my CRM, so I knew exactly what she was supposed to have done and when.
Had I been working for a different broker who didn’t provide that service for free, there’s no way I would have paid someone $300+ for each transaction—not when I already had everything organized in my CRM.
Track your source of business for smarter advertising spends – If you’re running ads, you’re probably advertising on several different websites, and maybe even in print. But are you tracking which ads are leading to sales? If not, how will you know what is working best?
In your CRM, you can record the source of each new client or listing, then step back and analyze your spending to determine which advertising medium is giving you your best ROI.
View the original article at Realvolve