How The Right CRM Can Help Streamline Your Real Estate Sales Cycle

Sales | Updated on: 11 June 2024

Real Estate is an extremely powerful economic sector in India, and it is growing multifold. The industry is expected to achieve a market value of $1 trillion by the year 2030. This growth of the industry has expanded the playing field, and there are a vast number of competitors who are targeting the same stakeholders. There has hence been an evolution in the principles and practices of the industry, wherein technology and sales have become highly crucial.

Technology in Real Estate:

The most significant change that the industry has undergone is the increasing adoption of technology. The methods that were once used in real estate are falling short to keep up with the increasing demands from the industry. Digitization offers efficiency and convenience, and it has streamlined the working of the industry. Real estate CRM is software that allows automation of every stage of the real estate sales cycle. It optimizes the outcomes from every process, and accelerates the sales velocity.

Sales in Real Estate:

Like in any other commercial sector, sales are the driving force behind all real estate activities. Every step taken by the sector, be it project development or marketing, is targeted towards the achievement of sales. Sales bring an inflow of revenue into real estate, which in turn supports the economic framework of the sector. Real estate sales impact every stakeholder- developer, homebuyer and channel partner, and they play a very important role in the industry.

The Importance of Sales and CRM in Real Estate Business:

Sales are the source of all revenue and profits for the industry. Without achieving sales, every other activity of real estate is rendered ineffective, and hence sales are of the utmost importance. Sales and CRM are no longer isolated aspects, and they have seamlessly merged. Digitization has been adopted to optimize sales efforts, and CRM software too contributes in a major way to this:

Capturing Leads:

The sales journey of real estate begins with the capturing of leads, which is effectively done by real estate CRM software. Leads are the potential consumers who display an interest in a product, and they often come from a number of sources such as digital advertising, or offline mediums like hoardings, brochures etc. Each of these leads is valuable towards attaining sales, and CRM helps in capturing them.
Nurturing Leads:

Once a lead is captured, they often have to be nurtured over time to be converted into actual sales. Manual efforts towards nurturing are often time consuming, and may have delays or inefficiencies which can result in the loss of a potential sale. Real estate CRM helps in lead nurturing, through robust features such as:
- Drip marketing
- Automated and personalized communication
- Cloud telephony
- Insights into the requirements and pain points of leads
Each of these is an important element of customer interaction, which will eventually drive more sales for the business.
Optimization of Sales Pipeline:

Sales Pipeline allows a business to remain informed of where their prospects are in the purchasing cycle, and allows for easy tracking of sales. A pipeline is vital for the sales process, since it provides an accurate representation of the journey of various consumers in the sales cycle. It also identifies those deals that are in the final stage of closing, versus those deals that require more attention to be converted into sales.

CRM software collates large amounts of data, and segregates it to optimize the sales pipeline. This enables real estate agents and developers to direct their efforts positively towards achieving sales.
Enhancing Performance with Data-driven Insights:

Since sales are the ultimate goal of real estate processes, they have to be achieved systematically with continued good performance. Every stage of the sales pipeline has to be carefully strategized and executed to produce results. Real estate CRM offers data-driven insights into various performance aspects of the business, its team, and its consumers:
- Understanding the flow of the sales cycle
- Isolating areas which need to be streamlined and improved upon
- Evaluating the performance of personnel
All these insights will enhance the performance of a business, and enable it to achieve optimum sales.
Seamless Post-sales Services:

The sales process for real estate does not end with the confirmation of a deal, and entails lengthy documentation. This crucial aspect of post-sales services has been simplified with the adoption of real estate CRM software, as it accurately analyses the data to create error-free and efficient digital documents.