Real Estate CRM Software

What is real estate CRM software?

Real estate customer relationship management (CRM) software provides specialized customer relationship tools to realty companies of all sizes across Canada. Agents and agency managers can manage leads and contacts through all phases of the sales cycle. Agents and property managers can access application tools via mobile devices. Sales teams can automate the distribution of marketing materials and sales forecasts. Here we've outlined the benefits, features, considerations and key industry trends to keep in mind when looking for your new Canadian real estate software solution. To browse specific real estate CRM tools, head over to Capterra's directory or check out the six top CRM tools for realtors in Canada according to verified user reviews.

What are the benefits of real estate CRM software?

The benefits of real estate CRM software are wide-ranging, but mainly centre around boosted efficiency for your real estate agency. While many CRM property management software solutions provide similar benefits, some may be more advantageous for your specific business than others. Reading the reviews for each tool on Capterra's directory will help you find the best CRM for your real estate agency.

• Contact and lead management: In addition to the standard contact fields common in most CRM apps, real estate CRM software also stores and compares information specific to the real estate market such as client budgets and preferred target neighborhoods. Dashboard and calendar functions remind agents when to reconnect with leads and clients so that valuable opportunities are never lost.
• Targeted listings: By keeping up-to-date information on potential clients, agents can automatically match new listings with client preferences. In doing so, the information you provide clients will better reflect their needs. Real-time listings and marketing materials can automatically be distributed to potential clients via email and other messaging platforms.
• Agency pipeline management: In addition to managing contact information for new sales opportunities, real estate CRM system allows agency managers to calculate closure success rates and timelines for past listings. This in turn provides an accurate tool for agencies to forecast projected sales based on deals currently in the pipeline.

What are the typical features of real estate CRM software?

While CRM software solutions may differ in additional features and functionalities, the majority will contain the same core features, which include:

• Contact management: Enables users to store and search contact information by fields such as name, address, and telephone number. The software also stores market information for contacts such as housing budget and current mortgage information.
• Lead management: Tracks and manages sales leads through the entire sales process. Allows you to create reminders for when to contact potential clients at later dates.
• Dashboard: Provides an ""at-a-glance"" interface for monitoring the status of tracked sales opportunities. Gives sales managers a tool to monitor sales agent activity.
• Email marketing: Uses the contact database to generate commercial messages to specific target markets using email or other messaging platforms.
• Customer segmentation: Uses contact information across the entire database to identify market segments based on criteria such as income and location.

The real estate CRM software directory lets you filter by feature(s) to view only options that meet your business needs, which can help you narrow your software shortlist.

What should be considered when purchasing real estate CRM software?

Just as not all real estate CRM solutions are made equal, not all real estate agencies are either. Your agency is likely to have very different processes and workflows than others, so it's important to take into account a range of factors when choosing the right CRM platform for your business.

• Market-specific vs. general CRM: Many CRM offerings are not designed for a specific vertical market. Although they provide customization via powerful configuration tools, smaller agencies may not have the IT staff or support to take advantage of this breadth of features. On the other hand, real estate CRM system packages are specifically designed for agencies for all sizes, but may lack the customization features of broader-scale CRM or project collaboration products.
• CRM vs. ERP: Many enterprise resource planning (ERP) packages offer CRM as a component of a more comprehensive enterprise solution. If you are looking for a solution that will integrate with other business functions - for example, accounting, human resources, and asset management - then a broader ERP solution may be a consideration.
• Platform dependency: Considering that many real estate sales are conducted in the field, it's important to understand the features and limitations of a real estate CRM's mobile component. Although most products available in today's market provide apps that work across all major mobile platforms (iOS, Android, and mobile web browsers), there may be functionality limitations for mobile versions.

What are some relevant real estate CRM software trends?

The real estate industry in Canada has been subject to many industry trends, fluctuations and upheavals in recent years. There's no doubt that real estate agents have to stay on top of such changes for their day-to-day processes, but it's also important to know how these trends might affect the offerings of your CRM tool. Capterra's consumer-focused report provides some up-to-date trends in the ever-changing Canadian real estate industry. Moreover, stay up to date with specific tech trends in the real estate industry by reading Capterra's PropTech deep-dive report. Some core trends to look out for in your next CRM tool are listed below:

• Real estate CRM software will increasingly depend on artificial intelligence (AI) and machine learning to forecast trends in real estate markets: You don't have to own real estate to be aware of (and affected by) the cyclical nature of real estate markets. The ability to forecast the timing of these cycles can make all the difference for investors. Many current real estate CRM system offerings uses sales cycle data to forecast an agency's projected income. Considering that 68% of small businesses will adopt AI in some respect over the next one to two years, it's likely that we will see real estate CRM programs that intelligently augment forecasts with real-time market data.
• The use of virtual reality (VR) in real estate will change the role of real estate agents: It is projected that the use of VR will contribute an additional $2.6 billion in revenue to the real estate market through 2025. Currently, many real estate websites only show listing photos and information when the potential client provides contact information. This data is then stored in a real estate CRM system and the lead is passed on to an agent to schedule a showing. However, being that showings will be increasingly conducted via VR, collecting contact information in a real estate CRM will become even more crucial for tracking potential clients."