The Basics of a Real Estate CRM

In our fast-paced real estate world, we know that managing client relationships efficiently is a must.

When you're just getting started, you'll often hear the advice: "Get a CRM." But what does that really mean? Does it help you find leads? Does it handle your emails to existing contacts? 

Today, we chat with Chuck Richards, our RealGeeks' Product Manager, to break it all down.

A Customer Relationship Manager (CRM) is like your trusty sidekick for managing your database of leads, contacts, and prospects. It's all about keeping an eye on your sphere of influence.

As Chuck puts it, "It's for people you've worked with before, folks you want to do business with, and those who might just become your future clients. A CRM is your wingman to move these relationships down the pipeline and turn them into actual transactions."

In other words, with a good CRM, you should never have to wonder: "Who should I call today?" or "What's on my to-do list?" It should also ensure that no one ever "slips through the cracks."

So, where's RealGeeks in all of this?

RealGeeks is more than just a CRM; it's an all-in-one platform that includes a website builder. To explain it, Chuck breaks down the different stages of CRMs:

CRM 1.0: A basic CRM should let you see everyone in your database and where they are in your pipeline (how close they are to making a transaction).

CRM 2.0: A great CRM for real estate agents specifically, designed to move people through the real estate process smoothly. This means it does a lot of the work for you, like sending market reports to potential buyers for the neighborhoods they're interested in.

CRM 3.0: RealGeeks takes it up a notch. It's a real estate CRM that seamlessly connects to a real estate website. This means that when someone provides their contact info on your website, like through the "What's my Home Worth" widget, it goes straight into your CRM, marking them as a potential seller in a specific neighborhood and sending them tailored info.

In a nutshell, RealGeeks is a CRM 3.0 - designed for real estate agents with a website builder that talks to your CRM effortlessly.

Now, let's say you've got yourself a CRM. What's next?

Getting Started with Your CRM

If you're new to the world of CRMs, setting up can feel a bit overwhelming, but don't stress. A CRM can do a lot, so it can feel like a lot. But most agents find a few core functions they love and use those regularly.

Here are the steps to get started:

1. Populate Your Database: First things first, add people to your CRM. Start by importing your contacts, whether it's from a CSV file or just manually entering the ones you've got in your phone, notepad, or spreadsheet.
   
   Everyone's got a circle of influence, even if it's on the smaller side. Begin with the contacts you already have.
   
   
2. Get Organized: Your CRM should let you organize these folks. Real Estate CRMs have ways to categorize leads based on where they are in your pipeline. For potential buyers, you can see if they're just starting to look at properties, ready for showings (that's a warm lead), ready to go under contract (a hot lead), or if they've already sealed the deal.
   
   You can even tag them with specific interests. For example, if you know they're into golf, tag them as Golf Players and send them golf course-adjacent property listings or bring it up in your next chat.
   
   
3. Take Action: Your CRM isn't just a fancy address book; it's a powerful tool. One of the most important things you can do is set up Saved Searches. This sends regular property updates to your leads, keeping them engaged and informed about new listings, price changes, and everything they need for their home-buying journey. If you're at your desk, keep an eye on lead activity on your site. In real estate, speed is essential.
   
   If you see a lead showing interest in a property, shoot them a quick text with info about it. If you're not at your desk, don't worry; the CRM can do a lot for you. It'll alert you about lead activities when you're back and can automatically send messages based on lead actions. RealGeeks even has an AI assistant that starts conversations with leads and qualifies them for you, updating their status in your CRM.
   
   
4. Stay Consistent: From now on, every time you get a new contact, add them to your CRM immediately and get them into some sort of automation—like market reports, open house updates, or neighborhood news.
   
   Make it a habit to feel a bit uneasy if you have a new lead and they're not in your CRM yet.

Alright, now let's dive into the specifics and answer some common questions about the RealGeeks CRM.

Understanding RealGeeks CRM Statuses

In your RealGeeks lead dashboard, you'll see the "Status bar" at the top. It gives you an overview of where your contacts are in your pipeline. Who's a fresh lead? Who's in nurturing mode? Who's waiting for your call?

In simple terms, it's your to-do list for the day. As Chuck mentions, "Greg and Abe do an amazing job of showing you how to structure this in their private academy. They'll guide you on setting up filters and alerts so that at any given time, you're doing exactly what you should be doing—calling, texting, or emailing the right people."

The Power of Taking Notes

Greg and Abe often stress the importance of note-taking during calls. Remembering birthdays, special interests, kids' names—these details matter. But how do they work with your CRM?

In RealGeeks, you can import information to build comprehensive lead profiles. Add important details about what they care about, significant life events, property preferences, and more. This information syncs with live data from your RealGeeks CRM. For example, if a lead views a property on your site, it automatically adds that to their profile. The next time you chat, you can mention that property, making your conversation more personal and engaging.

Chuck emphasizes, "We want the system to work for you, instead of you having to work for hours to maintain it."

Building a Pipeline of Repeat Business

Many agents assume they'll get super-motivated leads ready to make an offer right away. But often, that's not the case. Leads need nurturing and guidance before they're ready to act. Even after closing a deal, many agents forget about the lead. Big mistake.

These past clients could become invaluable referrals for your business. So, put them on automations to keep in touch. Imagine this scenario:

You sold a house to Mark. Now, put Mark on a campaign that sends him updates about his community, tips on appliance warranties, or recommendations for pool cleaning services.

It's all about nurturing these relationships and delivering ongoing value. Think about what Mark could mean for your business in the future:

• Maybe in a year, he wants a bigger home, so he needs your help selling this one.
• Then, he'll need your expertise to buy a new place.
• In the meantime, he's recommending you to friends and family.

One seemingly forgotten lead can turn into three or more transactions in the upcoming year.

In conclusion, a Real Estate CRM is a game-changer for your real estate business. It simplifies lead management, strengthens client relationships, and ensures no opportunity slips away.

RealGeeks, with its CRM 3.0 capabilities, offers a seamless solution to streamline your real estate operations. By following these steps and making the most of your CRM's features, you can build a thriving pipeline of repeat business and achieve long-term success in the real estate industry.