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5 Major Challenges Of Being A Real Estate Agent And How To Tackle Them

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Real Estate CRM

The boon of digitalisation has benefited the Real Estate industry greatly. Company workflows have been automated, processes are more efficient than before, and businesses now find it easier to stay in touch with their consumers. However, it has also brought upon this industry a cut-throat competition that requires constant and consistent effort to stay near the top.

The time and effort that a company is willing to invest in implementing Real Estate CRM software proves that nothing can be spared to acquire an edge over the competition. The challenges Real Estate agents face are tough ones – and it is these challenges that this blog will attempt to address with effective solutions.

Real Estate Agent Challenges and Their Solutions

Every step of the way in a Real Estate business, there are certain hurdles that a broker must jump over before full efficiency is realised. Here are the five most difficult challenges of being a Real Estate agent.

Poor Inventory Management

Inventories are the lifelines of a property business. Being able to manage a set of listings effectively decides the level of satisfaction of a consumer. However, with numerous property portals in today’s digital age, it has become difficult to properly manage a business’s inventory manually. In addition, leveraging consumer data to pitch relevant listings to them – which helps generate surer leads – has become a tediously monumental task. For a broker, inventory and lead generation take centre stage – how, then, to tackle these challenges?

Solution

Real Estate CRM software today is equipped with the tools needed for brokers to be able to master this challenge. For example, inventories are automatically updated in real-time in tandem with the bookings happening on a unified platform of the CRM dashboard. In addition, automated lead capture through landing pages, contact forms, social media and sales calls enables brokers to establish their own reputation in the market.

Competition For List Rankings

Property listing websites have been mushrooming uncontrollably; this poses two challenges for the brokers. One, that the quality of the property portals and their reliability impacts the opinion of the consumer about the properties listed on it; two, the competition between listings present on the website is a long race to win. Therefore, a better solution is needed to enable brokers to attract more audience to their listings. Either this or the possibility of creating exclusive listings for a brand.

Solution

Creating an exclusively registered domain for a brand’s properties is a professional way to advertise a brand’s assets. By using a good Real Estate CRM, personalised domains can be set up on the internet to advertise the properties of a business dedicatedly. In addition, these CRMs help in analysing lead data that helps a business serve personalised ads off its properties to the audience, thus capturing more leads and improving the odds of conversion.

Building The Right Team

Teamwork forms the backbone of any company – especially Real Estate since business here is never a one-person show. Sales teams are required to be on the same page to bring in more conversions, and marketing teams need to work in sync with sales. Making collaboration possible at such depths is manually difficult but essential since it drives sales.

Solution

Being able to display the same lead data universally to all sales executives goes a long way in boosting revenue. With the help of Real Estate CRM software, this can easily be achieved through implementing team collaboration tools. Not only does this software make it possible to create dedicated teams online for a task, but it also makes cross-collaboration between different departments and even Channel Partners.

Expense Regulation

All business development, lead generation and marketing activities require setting apart hefty budgets. Especially in modern times when the digital media is saturated with bidding patterns that generate little ROIs, planning budgets is a big challenge for Real Estate agents. A solution that helps keep tabs on ad spends is the need of the hour.

Solution

Real Estate CRM software comes equipped with tools that keep track of expenses incurred on online ad campaigns and generate reports that show profits against these spends. This helps brokers to paint a picture of the lucrativeness of an expense. In addition, this software also tracks the number of leads generated and advanced through these campaigns, providing a holistic picture of the entire marketing activity.

Retainment Exercise

No business can exist without a customer. As such, it makes the customer an entity of absolute power – someone who needs to be kept satisfied even after a sale has occurred. The challenge that brokers face here is the lack of a database that lets them connect with their customers for follow-ups or quality assessments. This tends to reduce customer satisfaction with the broker, which needs to be avoided at all costs.

Solution

Automation of capturing the contact information of all leads, customers and repeat-buyers for follow-ups and nurturing helps create a database of information that can be accessed at will. Responding to the customers promptly, following up, resolving their queries without wasting their time helps build a good customer-brand bond.

To Conclude,

The problems faced by Real Estate agents are genuine but mostly solvable through employing intelligent solutions, such as Real Estate CRMs, in the business. Not only do they help in streamlining processes but also in scaling the challenges that a broker faces daily.

Sell.Do is India’s only fully integrable CRM that provides digital tools to a business that help in scaling such challenges in the property brokerage industry. With its state-of-the-art software capabilities, full automation, intelligent algorithms and sorted database, Sell.Do is a true asset to a business in the world of high competition and tricky challenges.

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