Real Estate industry has now evolved and increased in size by manifolds. Once diaries and spreadsheets use to dominate the industry to manage customer relations. Now with the digital age diaries and spreadsheets have evolved into the complex Customer Relation Management or CRM softwares to help the agents manage all their contacts i.e. buyers and sellers. To a real estate agent, the customer relationship is the most important aspect for the successful of the business, thus managing them efficiently is an integral part for them.
CRM is used in every industry that provides service to clients. The typical CRM software that is used facilitates compilation of client histories, lead management, assigning of leads to different agents and follow up with customers. While this may be efficient for some industries, the realty industry requires a more detailed CRM.
Real Estate CRM Software
There are many different real estate management softwares in the market that offers a variety of solutions to the real estate brokers. While choosing which type of software to employ the real estate broker needs to take into consideration the company’s current position, its growth projection’s as well as its strategic position in the real estate sector.
Types of CRM for Real Estate
There are different real estate CRM software packages available in the market. They can be categorized into two groups: Web or Cloud based CRM software and Local System based CRM.
Web or Cloud based CRM
A cloud based real estate customer relation management software is hosted on an online server. It is also referred to as on-demand SaaS (software as a service) and falls under the commercial category of softwares. The main advantage of this kind of a software is that the application is available to the users, is virtually limitless. There could be frequent application updates made by a team of dedicated software developers. These services are available from anywhere since they are hosted online. All a real estate agent needs to do to access their CRM application is log onto an internet enabled device such as desktop, laptop or even a mobile with their credentials.
The main disadvantage of this software type is its price, given its nature, it is expensive. Further, the costs are incremental in nature, i.e. more the number of users, more expensive the licensing contract will be. Another key disadvantage is in terms of security. All the company’s information is hosted on an online server. Therefore, despite the security precautions put in place, sensitive information can be accessed by anyone with enough determination.
Local System based CRM for Real Estate
With a local system based CRM, the software is hosted on the organization’s PC or laptop. It is also referred to as on-premise CRM and is a commercial real estate CRM software package. The main advantage of this software is its security. Since it’s installed on the company’s servers the manager can personally manage the security clearance of all sensitive information.
Compared to the former CRM software package, a local system based CRM is cheaper. However, this affordability comes with its limitations. Firstly, they are not as many applications available to on-premise CRM software users as there are for SaaS users. Secondly, lead time for this software is greater than that for web based software. Despite all this though the real estate manager does not have to pay further licensing costs after installation. Thus PC based CRM can be used by multiple users as the company expands.
Thinking of the long run and also understanding the fact that the most expensive resource is Human Resource; thus it would always be a wise decision to choose a cloud based CRM. This lets your sales team be in the field an manage the CRM remotely as well. The Kolabro CRM is an excellent example of a cloud based CRM. As far as security is concerned, it is the first priority for the company. Few security features are permissible view (owner needs to grant permission to users to view data), password protected data, password reset can only be done via the registered email id and lots more. Not only it’s a secured environment for your data, but it comes for a very nominal fee. Book your demo for Kolabro Cloud CRM today.