4 Common Myths on Real Estate CRM

Every day more companies are using the real estate CRM to enhance their processes, track leads, and increase profiles while cutting down on cost. The technology meets the dynamic customers of your real estate business as well as the industry requirements. CRM also fulfills the expectations of informed clients and boost customer loyalty. However, it does not come without its challenges for businesses that have implemented the technology. One of the most significant challenges has been the myths and misunderstandings surrounding CRM, which have been a barrier to success. 

1. CRM is time-consuming to set up


Just like other new systems, the initial set up process can be daunting. However, people have a misunderstanding that the process of setting up CRM consumes a lot of time, so they avoid embracing the software. On the contrary, CRM does not take a lot of time to set up when you have the right support team. The team will ensure that the software is set up appropriately and that all your contacts have been imported correctly regardless of where you have stored your contacts. Surprisingly, you can import contacts in the new software within a day; thus, it is a quick and straightforward process. You can find more resources and information from the Ixact Real Estate CRM website.

2. Vertical real estate CRM will always function


The processes and requirements of your company are unique and different from those of your competitor. Therefore, the myth that vertical CRMs always work is false. Businesses should look at pre-built CRM as a starting point that they can use to grow. Your business should consider a customized CRM solution with an extra configuration to meets its needs rather than assuming that all CRMs will always work. 

3. Cloud-based CRM is cheaper than others


Don’t fall prey of the common misconception that cloud-based CRM is cheaper than other CRMs. The cost of implementing real estate CRM will vary based on your needs, business requirements, and scenarios. Also, the total cost of a CRM implementation is usually based on the number of users and the cost of ownership. Additionally, other factors that affect the cost of CRM implementation include 24/7 support and upgrades, which should be looked into to determine whether is cloud-based CRM is cheaper than other solutions. 

4. CRMs are only sales tools


On the contrary, CRM solutions are usually personalized, and they can be used beyond sales processes. You can use real estate CRM for an array of functions including tracking your business relationship with banks, brokers, property managers, investors, and other stakeholders. You should ensure that you endeavor to analyze other functionalities of a CRM solution before you implement it. CRM solutions also offer data governance tools that provide data integrity and accuracy. Also, the myth that CRM does not generate leads for real estate business is false.