A Customer Relationship Management (CRM) project typically involves software designed primarily for managing leads or the customers of a business or an organization. Even though it sounds simple, a CRM project can be tricky to implement as it must cover the requirements of various stakeholders and business units involved with the organization. Especially in the people-intensive Real Estate industry, incorporating competent Real Estate CRMs into the workflow can only work if done correctly. The reasons for a failed CRM implementation can vary from one business to another; nevertheless, we have put together some of the most common ones below, particularly in Real Estate businesses.
Table of Contents
Lack of Appropriate Planning
Most Real-estate organizations end up investing huge sums in a CRM project without adequately evaluating their business processes and needs. Therefore, it is primary to understand how a specific CRM implementation can solve your institutional problems and bridge the gaps. CRM failures are often caused by a lack of self-awareness in the company more than the incompetence of the project itself.
A Real Estate CRM must include functionalities that can capture property inquiries, maintain the lead information, provide agent notifications, manage inventories, and so on. If the CRM does not tailor itself to the specific requirements of Real Estate, its implementation is most likely to fail. Besides, the marketing and sales environment of the company also plays a significant role in defining the success of CRM software.
The only way around this problem is to get a CRM that understands the business infrastructure of the Real Estate business specifically so that you can implement it with maximum results.
Improper Organizational Integration
If you are only focused on reaping the benefits of a Real Estate CRM platform, you might not pay adequate attention to integrating the CRM into the company’s workflows. For example, said workflows in a Real Estate organization have multiple layers, right from maintaining client leads to dealing with the monetary aspects of properties. In this case, if the workflows and CRM processes are not associated every step of the way, CRM usage becomes undesirable. As a result, your teams feel like they cannot find any added value in the project, and all the hours they spent on learning the CRM processes turn counter-productive.
Not Involving Employees In The Process
Even though the CRM implementation has to be dealt with by the management of an organization, you must include the employees’ inputs in the planning process. For example, in a Real Estate company, the agents or the employees are the end-users of the CRM system, and it will not make sense to look for great results without including the end-users in the implementation process. Not involving employee participation in planning can cause problems in the operations, leading to inadequate integration and poor adaptation. To overcome this problem, you must consider the following:
- Include employees and significant stakeholders in the planning phase.
- Incorporate change management into your approach.
- Move towards a customer-centric attitude.
- Communicate the progress you make and maintain transparency.
Overcomplicating The Requirements
The key to a good CRM is the ease of usage and a smooth user experience; it is always wise to keep it simple rather than overloading it with technicalities. Real Estate processes are hectic on their own, and the last thing anybody would want is to be overwhelmed by a CRM that is supposed to ease the process.
It is normal to be tempted by the vast number of features and functionalities offered by various vendors, but trying to cram them all into your project is a recipe for a lower ROI.
Ensure that you keep the business outcomes in mind before getting a CRM with a million functionalities. A sophisticated CRM with a million technicalities might sound attractive, but it will only leave your employees hanging if the user interface is not intuitive and straightforward. A specific, need-based, and intelligent Real Estate CRM solution is what your business needs.
Vendor Problems
Studies estimate that at least 50% of CRM projects fail because of choosing the wrong vendor. Unfortunately, this is quite common with Real Estate businesses that are blinded by the peripheral advantages, such as lower price points, overwhelming functionalities, etc., and end up choosing a practically ineffective CRM. To fix this, consider the following factors to estimate how much value a particular vendor can provide.
- Software flexible and in-house customization
- Scalability
- Ease of integration with the existing systems
- Ease of usage and training
- The reputation of the vendor
Conclusion
Incorporating CRM software into your Real Estate business can be either a transformative experience or a nightmare, depending on how you deal with the factors discussed. The best way to go about it is to choose the right vendor, avoid excessive features in your software, including the end-users right from the initial stages, and integrate every step of your workflow with the CRM processes.
Sell.Do is a CRM provider for real estate businesses that aims to empower Real Estate processes. The most significant advantage of Sell.Do is their extensive industry knowledge coupled with technical expertise. With Sell.Do, your Real Estate business not only reaps the benefits of CRM Software but also enjoys innovative solutions to the specific problems faced by the Real Estate ecosystem. With their consistently excellent performance for the last decade and their roster of functionalities, including Lead Management, Inventory Management, Marketing Automation, Performance Metrics, Employee Training, etc., Sell.Do emerges in the Real Estate market as an all-around comprehensive CRM solution.
