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1. Ultimate Guide to CRM Property Management Software

   May 17, 2023 11:43 am Leave a Comment

   Real Estate CRM and Property Management Software often come across as two separate solutions. One is used to streamline customer (resident) engagements and the other to track property financials. Now, with disparate applications comes the challenge of data fragmentation, duplication of efforts, lack of a holistic view of customers, and limited automation capabilities, all resulting in increased costs.

   That’s where CRM-based Property Management Software comes into the picture.

   First, let us get a complete understanding of CRM Property Management Software. Then we will understand its application among the three major functions of the Real Estate Industry: Sales, Leasing, and Facilities Management.  

   What is CRM Property Management Software? 

   CRM for Property Management is a solution that helps landlords and property managers streamline their operations. The software provides a centralized database for storing customer and tenant information, as well as a suite of functionalities for managing properties, tracking leads, and marketing units. Combine this with the latest in AI and GPT technology, you can do more with less.

   CRM Property Management Software typically includes a contact manager, which allows users to store and organize contact information for tenants, prospects, vendors, and other stakeholders. An inventory master with a unit manager helps users to keep track of available units, rental prices, lease terms, and move-in dates. In addition, CRM-based solutions like Property-xRM also include a work order manager, which enables landlords to track repair and maintenance requests. 

   Some of the additional features in such solutions include document management, financial reporting, accounting integration, and website builders. Built-in customer relationship management (CRM) tools help landlords, property managers, and real estate companies manage their interactions with tenants.

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   Benefits of CRM Property Management Software for the Real Estate Industry

   In the real estate industry, CRM Property Management Software provides several benefits. By automating and streamlining tasks such as lead tracking, contact management, and marketing, CRM-based software can save you time and money while helping you better manage your properties. In addition, it can help you improve communication with your tenants, landlords, and other key stakeholders. By providing a centralized platform for managing all your property-related information, CRM-based software can help you make better decisions about your properties and improve your overall business efficiency.  

   A. For Residential Sales 

   

   Be it, Single family, Multi-family, or Condos, it is important to keep track of your sales. With a powerful CRM engine, you can easily track which properties are selling and which ones need more effort. This information can help you make decisions about pricing, marketing, and other factors that impact your bottom line. 

   In addition, a CRM system can help you track your leads. When a prospective buyer shows interest in one of your properties, you can quickly add them to your CRM database and begin tracking their interactions with your company. Systematic lead management insights can be invaluable when it is time to close the sale.

   

   Finally, Real Estate CRM can help you stay organized and efficient. With all of your sales information in one place, you can easily see where your time and energy need to be focused. This can help you increase your productivity and close more deals.

   Learn more about how Property-xRM helps increase Residential Sales.

   B. For Residential and Retail Leasing 

   If you manage a property with multiple units, then you know how important it is to keep track of your tenants. You need to know who is moving in and out, when rent is due, and what maintenance needs to be done. This can be a lot to keep track of, especially if you don’t have a system in place. 

   That’s where CRM Property Management Software comes in. This type of software can help you keep track of your tenants, as well as your properties. It can also help you with marketing, lease management, flexible pricing, contract generation, and post-lease transactions as well. With Property-xRM for Retail, stay on top of your of retail portfolio, finding the right tenants and brands to maximize revenue.

   

   Here are some of the benefits of using CRM-based property management software for Leasing: 

   1. Retain and build relations with your tenants: Tenants can access information including contracts, invoices raised, maintenance status, and payments. You will be able to use the Customer portals for push marketing to list information on available properties.

   2. Marketing and leasing: If you’re looking for new tenants, CRM-based software can help you with marketing and leasing. You can use the software to create marketing materials, list units on third-party websites, capture multi-channel leads, and streamline the lease process. This will save you time and money in the long run. 

   3. Maintenance: If you have multiple units, then chances are there is always something that needs to be fixed or maintained. With Property-xRM, easily keep track of what needs to be done and when. A CRM-based Property Management Software ensures that all your work orders are streamlined and your vendors are organized and can be communicated to with ease. 

   C. For Facilities or Asset Management

   1. Central Repository

   One of the main benefits of having cloud-based facilities management software is that there is a central location that holds all of your data. This data is accessible to relevant departments like the leasing team or asset management team.  With a Microsoft-based Field Service solution, expect to do more at every juncture of the maintenance process.

   Avoiding data silos in the organization by having a provision of a central location to store all the valuable information about previous maintenance history can help analyze and drive insight-based actions to better the facilities management operations of an organization.  

   2. Keep track of all your Assets 

   Ever found yourself in a situation where you don’t know what’s going on with the assets on your property? We hear you.

   Location and health are the two main data points that need to be tracked about an asset. Good facilities management software will let you know exactly where an asset is located, pinning down the property and unit under which that asset is situated.   

   Keep track of assets systematically by capturing all necessary details about them. The warranty period, replacement due dates, contractor maintenance information, and tenant-level association – have this data securely collected and stored. More importantly, do it for all the assets in your portfolio, so you know the place, duration, and maintenance record of your assets.   

   3. Automated Work Order Creation 

   Streamline Planned Preventive Maintenance (PPM) and Reactive Maintenance (RM) Processes.

   PPM is an agreement created between a real estate company and a service provider.  Usually, real estate firms manually reach out or email their vendors. They also have to call up the contractors to get updates on the work, till it is completed. It is also likely that some of these dates will get missed and, in such situations, firms don’t realize there is a problem until it is too late. 

   RM, on the other hand, are more ad-hoc maintenance requests that need to be resolved.

   

   Automating work orders ensures that the PPMs and RMs are streamlined right from the time an issue is captured at a unit. This can be done by the resident through a portal, via email, or by phone. Then there is job creation, service level agreements (SLA), and technician assignment until finally the issue is resolved and the facilities are working efficiently. This ensures a smooth and hassle-free maintenance experience for the facilities management operations of a real estate firm.   

   Overall, CRM Property Management Software provides several advantages and benefits that can be extremely helpful for facilities managers. If you’re looking for a way to streamline your operations and save time and money, learn about the benefits of Facility Management Software.

   Conclusion

   If you are a property management company or a real estate operator, then CRM software for Property Management is something you should consider. This type of software can help you keep track of your properties, tenants, and finances, all in one place. Not only that, it can also help you streamline your operations and save time and money in the long run. So if you are looking for a way to improve your property management business, be sure to check out Property-xRM powered by Microsoft Dynamics 365.

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2. What is CRM for Homebuilders and Developers?

   August 18, 2023 7:58 am Leave a Comment

   

   Technology impacts every aspect of our lives. It is evolving today at a dazzling rate. As a result, the latest Property Technology Trends have transformed the Real Estate sector. It has fundamentally changed the way customers and organizations buy and sell real estate.

   CRM for Homebuilders and Developers has revolutionized the way business relationships are forged and managed.

   CRM for Homebuilders and Developers: The #1 Technology

   Today, a buyer or tenant knows exactly what they are looking for in a property before making a decision to invest. So sellers should be empowered too, now more than ever!

   A Homebuilders CRM is the #1 technology tool on the market today. And, if you are a Homebuilder or Developer, you cannot miss out on it.

   Some Real Estate sellers still manually fill out details of prospective customers in spreadsheets. They also keep the customer data in bulky files. They are getting outplayed in the market today. By developers that manage prospects and customers with a Real Estate-specific CRM. A Microsoft Dynamics 365-powered Homebuilder CRM offers immense potential for the real estate industry.

   Build Durable Relationships

   Build better and more durable business relationships. Understand customers better and quickly respond to their needs. Not just that, you can manage their buyer’s journey with a CRM.

   Simply put, Homebuilders CRM software is an efficient way to manage tenant/owner relationships. The benefits of the shift are too big to ignore. In the digital age, if Real Estate firms don’t adopt new technology they might as well close shop.

   Benefits of CRM for Homebuilders and Developers

   CRM helps real estate companies to efficiently manage their business transactions. Here is a list of benefits:

   1. Get Timely Reminders

   The old saying that you have to give respect to take respect holds true in real estate. If you have promised a client to call them back on the coming Thursday at 4 PM. Then how likely is it that you won’t miss it under the mountain of files and deadlines? Now multiply that mistake with more days and more people. Now, you have a pretty alarming number of missed opportunities.

   All those revenue losses for the real estate firm could have been avoided if they just remembered. A CRM for Homebuilders will make sure that you never forget stuff. It gives you timely reminders and information about every customer interaction. Nurture leads better and drive business.

   2. Simplify Document Management

   The real estate sector has a lot of documents in its process – legal and otherwise. With e-signatures as a mainstay, real estate document management and processing have been made extremely simple. It also saves time by integrating it with a CRM. Therefore the whole process moves a lot faster through the sales pipeline. This gives your workforce more time to work on the next sale.

   

   3. Plan Effective Promotional Campaigns

   Use effective customer segmentation and take into account specific customer preferences. A CRM for Homebuilders and Developers facilitates effective management of promotions. Leverage marketing automation to design campaigns that are targeted at different segments of prospects and customers.

   4. Analyze Sales Efforts quickly

   Keep track of the profiles of your existing clientele. Then the business can come up with a strategy to determine the target audience. This can help to maximize revenue. Also, based on an analysis of past sales success, it becomes easier to define strategies for the future.

   5. Easily Create Management Reports and Dashboards

   A Homebuilders CRM provides the facility to generate a variety of reports and dashboards. This reporting management ensures that decision-making is a lot easier for the management. These reports have extremely important and relevant sales data. It can come in handy and become the basis for effective decision-making.

   6. Better Customer Service

   The real estate sector has high-value clients and deals. So customer retention and customer satisfaction is of utmost priority. A CRM for Homebuilders gives many strategic advantages such as the ability to personalize relationships with customers. This also helps to keep track of the preferences of customers and prospects. Thereby Real Estate companies can ensure their clients feel valued and satisfied.

   CRM for Homebuilders and Developers: A Powerful Tool

   The benefits of CRM for Homebuilders are clear and compelling. For each benefit outlined above, there can be a flip side. What happens if you don’t achieve these benefits?

   You will miss the opportunity to have a better understanding of your customer. Thereby increasing revenue and improving the lifetime asset value. The reality is that these processes are already occurring in every organization. But without a system to do it better and more efficiently.

   Property-xRM for Real Estate Developers and Homebuilders

   Property-xRM is a CRM-based Property Management software powered by Microsoft Dynamics 365. Over the last 2 decades, Property-xRM has been trusted by some of the largest developers in the world to streamline residential sales and leasing processes. Companies have observed an increase in lead conversions and reduced customer waiting times during a homebuying experience.

   Book a free demo and learn how CRM for Homebuilders and Developers is a powerful tool to help your business today!

   Explore Property-xRM for your Business

3. 6 Benefits of a Real Estate Leasing Software

   April 4, 2023 10:03 am Leave a Comment

   Are you using Real Estate Leasing software to run your business? If you are, is it software built on a CRM platform?

   If your Real Estate Leasing software focuses only on the financial side of things, maybe it’s time to shift the focus onto the tenant. Let’s face it, without happy tenants, your real estate business could be in trouble. That’s why it’s important to have leasing software that not only helps you manage finances but also puts the tenant’s needs front and center.

   Some people still believe leasing can run well on a conventional system! Time and again, firms that were not quick to adapt to innovations paid the price, while their more tech-savvy competitors have progressed fast.

   Technology is always a driver of change. By prioritizing tenant satisfaction, you’ll be able to attract and retain high-quality tenants, reduce turnover, and ultimately boost your bottom line. So, let’s get excited about leasing software that makes tenants feel like VIPs!

   In this blog, we are going to understand the benefits of Real Estate Leasing software powered by a Customer Relationship Management (CRM) engine. 

   CRM Real Estate Leasing Software: Key to Leasing Success

   What is CRM for Leasing?

   Customer relationship management (CRM) is a business philosophy. For real estate, it is an approach to managing a company’s interaction with current and potential tenants. It is strongly rooted in the belief that customers are at the heart of a business.

   Property-xRM Real Estate leasing software leverages CRM capabilities. It has a customer-focused product design. As a result, it helps to build durable tenant relationships. This, in turn, helps generate higher revenues for firms in the long run.

   Benefits of using CRM-Real Estate Leasing Software

   • Easily accessible records on every tenant, with a clear project-property-unit inventory overview.
   • Data analysis to study a tenant’s payment or occupancy history with the company.
   • The ability to personalize tenant communications and provide relevance.
   • Improve tenant retention by understanding their needs better.

   Therefore, with a CRM-powered solution, businesses can easily access tenant data and obtain valuable insights about target audiences. 

   Top 6 Benefits of a Real Estate Leasing Software

   1. Efficient Lead Management

   Capture incoming leads from every channel. Be it email marketing campaigns, walk-ins, websites, social media, or property listing websites.  

   Property leasing companies have often relied on incoming leads. In today’s internet-connected world, leads come from various channels. So, being able to centralize all the inquiries into a single database becomes very important. With CRM-based leasing software, you can easily manage your contacts, track leads and deals, and stay on top of your pipeline.

   

   A good CRM-based system has a lead capture system in place to store the relevant information of incoming leads along with their preferences. Further, it will store, classify and score the captured leads.

   Ears Everywhere

   In this day and age, prospective tenants are everywhere. So, an omnichannel engagement strategy, where leads and tenants can communicate via any channel with the company is of paramount importance. CRM software acts as a facilitator by driving communications from various sources directly into the system. A CRM captures the opinions of customers, provides historic data of all interactions, and comes with an integrated marketing module.

   Real Estate Leasing software assists in the following ways: 

   • Automatically or manually assign leads to the right leasing executive for follow-up and closing.  
   • Frequent customer data updates for better communication.  
   • Capturing and maintaining all-important customer identification documents (e.g. Government ID).

   Proactive Agents

   For existing tenants, reminders like 60-day and 90-day lease period termination help leasing agents to be proactive. Thereby, tenants are retained for longer periods of time. They are also kept happy throughout their lease periods with self-servicing capabilities for scheduling maintenance and raising complaints through a resident portal (tenant portal).  

   2. Real-time Inventory Management

   This can be incredibly valuable when it comes to making informed decisions about your marketing and lease strategies. Slice and dice data into the property and unit-level information for insights into the performance of the portfolio and the leasing teams. This includes vacancy information, revenue generated, exposure levels, lead-to-lease conversions, lease settlement reports, penalty calculations, and literally anything you wish to see.

   Inventory is quite arguably the most important aspect of a real estate business. So, naturally, having clear visibility into the portfolio details is critical.

   With a CRM-based leasing solution, you can store all of your inventory data in a centralized database. This makes it easy to keep track of all your properties, units, and other assets in one place. You can easily view the status of each property, including availability, occupancy, and upcoming vacancies.

   

   A CRM-based leasing solution can also help you automate many aspects of your inventory management workflow. For example, you can set up automated alerts or notifications for when a unit is about to become vacant or when a lease is about to expire. You can also automate tasks such as rent collection, lease renewals, and move-in/move-out inspections.

   In addition, with customizable reporting, integration with other systems, and improved customer experience, you can streamline your processes, reduce errors, and make more informed decisions about your properties.

   3. Smart Automation

   Team members end up spending the majority of their time on repetitive tasks that could easily be automated. For instance, the process of documentation for a lease transaction is a mundane administrative task. And if you’re a leasing representative who manually generates these documents, you know that the challenge is real.

   A real estate CRM-based leasing software can be a game-changer for streamlining the documentation process across booking forms, contracts, and agreements. By automating these processes, you can save yourself and your team a significant amount of time. This, in turn, allows you to focus on more important tasks such as providing excellent customer service and growing your business. With shorter lease cycles, ensure that the customer waiting time is at a minimum.

   A CRM-based Real Estate Leasing software has all the information in it to quickly generate:

   • Accurate Booking Forms
   • Proposals and Lease Agreements
   • Receipts and Invoices

   This lets you easily create the required documents in a fraction of the time.

   CRM-based leasing software solutions offer powerful automation tools that can streamline your workflow and save you time. For example, you can set up automated email campaigns that target specific segments of your client base, or use automated lead scoring to prioritize your leasing efforts.

   4. Enhanced Reporting

   If you are bound by the reporting capabilities offered by your real estate software, then it’s time to take things under your control. CRM-based solutions like Property-xRM offer customizable dashboards that give you a real-time overview of your pipeline, as well as detailed insights into your tenants’ behavior and preferences. Not just that, should you wish to create a specific dashboard based on specific criteria, the process is just a few clicks away.

   

   5. Integrations with the Accounting System

   Quite often, leasing companies have an accounting system independent of their front-end systems. This makes it mandatory to cross-check financial entries for the lease agreement, receipts, and invoices and involves some levels of manual intervention. This method is time-consuming and prone to errors.

   A technology platform like Microsoft Dynamics 365 for Real Estate leverages a common database for CRM, Accounting, and Lease Management. This promotes a single source of truth with a 360-degree view of a lease contract.

   Now, if you’re already using an accounting system (ERP), you can integrate the financials with the front-end system to ensure a seamless flow of information.

   6. Tenant Management

   With Real Estate leasing software leveraging customer relationship management capabilities, organizations can provide personalized services to tenants and prospects by utilizing the customer service module. A CRM-based system opens up multiple channels for tenants to approach the leasing companies for services like unit termination, lease renewal, maintenance requests, etc. 

   

   Alternatively, portals and mobile applications come in handy to empower tenants with self-servicing capabilities in the comfort of their homes.

   Personalized Conversations

   Customer Telephone Integration (CTI): To streamline customer service, property companies can adopt a CTI integration that allows front-end leasing executives to be connected with CRM information. For example, when a call comes in from a contact who previously interacted with the leasing representative, relevant details stored in the CRM automatically appear on his/her desktop screen. This may include information from the last call with unit preference details, the customer budget, etc. This helps the representative to personalize the conversation and leaves the customer with a wow feeling.

   At the same time, in case of a new inquiry via phone call or email, a CRM-powered leasing system allows users to automatically create a new record directly in the database. In recent times, the advancement in AI has allowed for a highly automated, yet personalized approach towards handling customers. This again, reduces the mundane tasks and allows the leasing executive to focus on building relationships with the prospective tenants.

   This way, a company can be all ears to every inquiry of a tenant or a would-be tenant.

   Property-xRM and CRM for Leasing

   Property-xRM Real Estate Leasing software is built on the Microsoft Dynamics 365 CRM platform with solutions for Residential, Commercial, and Retail portfolios.

   For over 20+ years, we have worked closely with Real Estate companies to develop our Property Management software. We have learned more about the leasing sector every year and how we can help increase profitability. As a result, we have consistently been helping real estate companies generate higher revenues and happier tenants at decreased costs.

   Book a Free Strategy Call, to discover how we can help your business today! 

4. AI in Facility Management – Latest Microsoft Tech & GPT

   May 12, 2023 10:15 am Leave a Comment

   We are here to envision a future for AI in Facility Management with ChatGPT and Microsoft Technology. Take heed, because this future is not too far away, we are talking two or three years down the line (if not earlier!). Microsoft CEO Satya Nadela, talking about the impact of AI on business applications at the launch of the Microsoft Business Applications 2023 event, said “Rapid Innovation is gonna come, in fact, a race starts today”.

   Microsoft Dynamics 365 for Field Service and Property-xRM together are driving change for Facilities Management and for Real Estate.

   

   The recent developments in Microsoft Technology and OpenAI’s ChatGPT (where Microsoft has a 49% stake) have created an atmosphere of curiosity and mystery. We will clear the fog by providing a clear vision of how we believe the latest in tech from Microsoft and its Generative AI will change the future of facilities management.

   Dynamics 365 CoPilot in Field Service

   Earlier in 2023, Microsoft announced the concept of Copilot. Now, what is CoPilot? It is an AI assistant for Microsoft applications that takes productivity to a whole new level. In the AI era, Dynamics 365 Field Service‘s Copilot empowers service teams to provide exceptional customer experiences, revolutionizing service delivery with innovation.

   So, how does this work? Here’s an example.

   Assume a scenario where a call center manager of a Real Estate company has an incoming email from a resident asking for a technician to come fix a plumbing issue. With Copilot’s AI capabilities and seamless Outlook integration, here’s what happens:

   • The process of creating a case and (or) work order is streamlined and available at the manager’s disposal.
   • The manager creates a work order right within Outlook, without navigating into the Field Service application.
   • Not just that, he/she can assign resources based on the requirement and urgency of the case to resolve issues faster.

   Catch a glimpse of Copilot in Dynamics 365 Field Service:

   Traditionally, in the same scenario, the manager would log in to the Field Service application. A case gets created manually by inputting the details of the requested email. This would be followed by converting the case into a work order. Then, the manager checks for available technicians by toggling into the resources tab. Finally, once the resource is assigned, the work order would get underway.

   So, clearly, one can picture what the latest AI brings into picture in comparison!

   Copilot uses next-generation AI to create a properly worded and concise description of the work the client needs performed in the work order summary, the technician has a clear understanding of the problem and what needs to be done to complete the task.

   With these capabilities, service organizations can deliver the personalized and proactive support that customers demand and expect.

   AI in Facility Management and the Latest Updates

   1. AI-powered Conversation Bots

   Imagine one of your tenants, let’s call him Bob. He has a problem with the Air Conditioning at his apartment. Getting hot and frustrated, he decides to raise a complaint through the resident portal. Now, as the property management team, you are ready to take Bob’s anger and frustration and change it into a customer service success story. That’s because the portal is equipped with a customer service bot trained on all the documentation on facility maintenance. 

   The customer service bot receives Bob’s complaint and then engages in a conversation to uncover the root cause of the problem. It can also provide a few quick resolutions to the problem thereby reducing the number of escalations. Further, the bot can move on to creating cases and assigning the best technician for the job. In case the issue requires the assistance of a specialized agent, then the bot can provide all the necessary details to the agent for faster resolution.

   2. Remote Assist

   Now, consider the technician visiting the resident’s apartment to fix the issue with the AC. The technician can utilize Holo Lens 2 and Microsoft Dynamics 365 Remote Assist to easily communicate with experts remotely to solve an issue.

   The technicians can also have an advanced version of the Chatbot. So, instead of contacting experts every time in the event of a roadblock, they can at first, try to fix the issue themselves. This can be enabled by creating a technician’s AI Chatbot that is trained on all the knowledge resources and advanced knowledge articles of the firm. The intelligent conversational bots can help the technicians with valuable information to resolve the issue.

   3. Customer Service Agent & AI

   Let’s assume a scenario where you have a customer service (call center) team.

   Alternatively, when faced with an issue, Bob can start a call with a customer service agent. The agent can procure relevant information within a few moments instead of searching through the vast set of knowledge resources. This is possible because an AI-powered Chatbot will work alongside the customer representative. The representative can ask the bot for solutions in natural language. The bot will be trained on all the knowledge resources of the firm with access to necessary documentation.

   

   Also, as soon as there’s an inquiry from Bob, it can be captured by AI directly in natural language. The AI in Facility Management (Copilot in Field Service) then provides real-time responses to assist the customer service representative. The bot will work in parallel to bring forth solutions in a matter of moments. It does this by searching through and consolidating knowledge from the entire library of resources.

   This can then be quickly conveyed to Bob and necessary steps can be taken for resolution. The AI will be able to draft responses in natural language on behalf of the customer service agent. The customer service agent quickly checks it, copies it, makes minor edits if necessary, and communicates it with the customer.

   4. Customer Support Swarming

   When working on time-sensitive and complex issues, it is useful to take the help of co-workers outside of the customer service team. Leveraging the capabilities of Dynamics 365 Customer Service, service representatives can leverage the ‘swarming’ functionality. This helps them collaborate with experts across departments within the organization to get help on complex issues. They can also use the expert finder feature to quickly locate experts with the right skills outside the organization to solve the issue.

   So when faced with an issue, the customer support executive can bring together experts to collaborate and solve the problem quickly and effectively.

   All of this can help Bob and many like him to have a smooth service experience. Read more about the benefits of having facility management software.

   Or Book a Free Strategy Call, to discover how AI and Microsoft Dynamics 365 can help better your Facilities Management Operations today!

   Schedule a Demo for Property-xRM Facility Management

5. 4 Benefits of Facilities Management Software

   April 28, 2023 6:21 am Leave a Comment

   Imagine a large real estate operator that does not use Facilities Management Software. With more than a thousand units, keeping track of assets becomes an impossible task. Different properties in multiple locations will have assets scattered across them.

   Now assume, they have more than 200 vendors they contact of which let’s say 50 contractors are their regulars.  

   At the moment, they are manually calling or emailing every contractor to get updates on work orders. Back-and-forth calls, resulting in a loss of valuable employee time.  

   Is there a better way to do this?

   Yes. We have figured it out.  

   Property-xRM Facilities Management Software:

   • Lets users keep track of all the assets and notify them when replacements are due.  
   • Automate all work order creations and Service Level Agreements (SLA).  
   • Technician app to receive work orders and location maps on their mobile phones and Tablets.  
   • A bird’s eye view of the preventive and reactive maintenance operations of all the units.  
   • AI-powered insights transform data on maintenance operations to make better decisions. 

   What is a Facilities Management Software?

   Facilities Management Software is a Proptech product that makes facilities management easier and more efficient by implementing functions like asset management and work order automation. It simplifies and streamlines the reactive and planned preventive maintenance processes. Property-xRM is designed as a facilities management software specifically for real estate companies.  

   Let us discuss some of the main challenges faced by facilities management companies. Usually, these firms have no systems in place or are using legacy systems to do their facilities management grunt work.  

   Top Challenges of Facilities Management Companies

   We have listed out some of the challenges faced by facilities management companies from our experience and the respective solutions we offered with Property-xRM.  

   #	Challenges	Solutions
   1	Can’t keep track of assets and their maintenance.	Defined Asset and Location Plan
   2	Reactive maintenance is time-consuming. Individually calling up or e-mailing every vendor.	Work Order Automation
   3	Finding it tough to keep track of all the information in the organization, thus creating data silos.	Central Repository of Data
   4	Irregular maintenance with no system in place.	Planned Preventive Maintenance Agreements
   5	Assets are managed in Excel sheets without ‘Asset history’.	360-degree view of Assets

   4 Benefits of a Facilities Management Software

   The solutions that Property-xRM offer are based upon these key challenges faced by facilities management companies and we see them daily.  

   Let us see the solutions offered by facilities management software:

   1. Central Repository of Data

   One of the main benefits of having cloud-based facilities management software is the central location that holds all asset-related data. Data can be viewed across departments like the FM (asset management), or finance team meaning that the service teams can view the history of work orders generated, the asset management team can gauge the condition of the assets, and the finance team can view expenses incurred.

   Avoid data silos in the organization and store all information about asset maintenance history. This helps with easier analysis and insight-driven actions, driving better facilities management operations for an organization. 

   2. Keep track of all your assets  

   An asset is tracked using two main data points: Location and Date of Purchase. A good facility management software will let you know exactly where an asset is located, pinning down the property and unit under which that asset is situated.  

   

   Keep track of assets systematically by gathering all the details about an asset – everything from the property and unit under which it falls, to which tenant the asset is associated. More importantly, it applies across all the assets of a real estate company, so as an FM supervisor, you know the place, operating duration, and maintenance record of every one of your assets.

   For example, not knowing when the roof of a property was replaced, the HVAC system was last serviced, or when the plumbing assets were last repaired may result in delays during move-in. Systematic tracking of assets and spare parts helps FM teams to gauge the health of the property at all times, ensuring higher levels of service efficiency.

   3. Automated work order creation  

   To ensure periodic assessment of facilities, a Real Estate company can create a Planned Preventive Maintenance (PPM) Agreement with the service provider using Facility Management Software. For example, lift maintenance can take place in a systematic manner in all the properties, without the interference of a facility manager to issue work orders for such repetitive works. Likewise, for reactive maintenance, the appropriate technicians can be assigned through a work order scheduler when an issue is raised.

   

   Usually, real estate firms manually call up or email their contractors to get updates on the status of work. This means that there is always a risk of maintenance due dates getting missed. As a result, firms don’t realize there is a problem unless one pops up, leaving the loose ends uncovered.

   Automation of Work Orders

   With systematic Planned Preventive Maintenance (PPM) and Reactive Maintenance (RM) agreements, processes are streamlined right from the time an issue arises at a unit.

   • A complaint gets registered by the resident through the mobile app or the online portal.
   • Accordingly, a work order gets automatically generated and a technician with the right skillset gets assigned.
   • Further, a job card is created, SLAs are triggered based on priorities, and the resolution gets underway.
   • Finally, the work order gets closed once the resident approves of the work, and then the technician completes the necessary procedures.
   • The FM supervisor gets notified and thus, the maintenance cycle gets completed.

   This seamless process ensures a hassle-free maintenance experience for the residents and the real estate firm. 

   4. Technician Mobile App

   A mobile app empowers technicians, contractors, and the FM supervisor to be in sync during issue resolution and promotes efficiency by reducing manual intervention. Through the app, the technician can access the location, work type, SLA, and the necessary information he needs to get going on the job.

   

   It starts with a push notification or (and) an email to get the resolution process started. Upon completion of the job, technicians can seek single or multi-level approvals before closing a work order. ‘Before and after images’ can also be captured through the app which helps to keep parties notified. This way, there is a streamlined process that guides the technician, every step of the way.

   What is CRM in Facilities Management?

   Using the Property-xRM Facilities Management Software, companies can proactively keep properties in perfect condition. CRM in facilities management (FM) views the Facilities management function as a customer-intensive business function rather than a cost center for facilities services.  

   And the management element suggests that Facilities Management will play an active rather than passive role in shaping the customer’s impression of service success. CRM in the Facilities Management business is based on identifying and addressing gaps between consumer expectations and service delivery reality. 

   Book a Free Strategy Call, to discover how we can help your business today! 

6. Your AI Work Partner – Microsoft Copilot

   March 10, 2023 6:56 pm Leave a Comment

   A recent Microsoft survey found that 9 out of 10 workers hope to reduce their workload by getting AI to do repetitive tasks at work. In today’s world that’s digitally transforming at a rate like never before, businesses are looking to bring higher levels of efficiency at scale into daily operations. Naturally, the question will be – how does AI in real estate work?

   Over the years Microsoft has proactively leveraged AI in Azure Cloud, in business applications across CRM & ERP, and on the Low-code Power Platform. This includes key automation and insights along the lines of conversational intelligence, lead scoring, predictive analysis, forecasts, the AI Builder – the list just goes on.

   However, the groundbreaking headline in recent times has been the buzz around OpenAI’s generative AI – The ChatGPT. In a record advent-to-implementation plan, Microsoft partnered with OpenAI to bring GPT capabilities natively into the Microsoft Ecosystem. If you’re a Microsoft user, it certainly is exciting news! And if you’re not, it’s time to explore what this is really about.

   Building on the GPT capabilities, Microsoft recently announced the Microsoft Dynamics 365 Copilot. With this update, the conversation on AI is no longer “How can I use ChatGPT?”.

   It’s now a much broader question: “What all can AI do for me?”

   The AI Timeline for Dynamics 365 and Power Platform

   2023 began with ground-breaking announcements and if you look at the first Quarter, it was all about CoPilot and AI. With all that’s been going around, one thing is clear – the future of technology is here. While the likes of Google and Salesforce have come up with their AI technology releases, the extent of Microsoft’s AI adoption is what makes it stand out.

   Not just on the cloud, the AI capabilities extend across business applications, Office 365, and the Power Platform. Here’s a quick look at the AI timeline across Microsoft Dynamics 365 and the Power Platform. Catch a glimpse of the latest updates here.

   

   What is Microsoft Dynamics 365 Copilot?

   Microsoft Dynamics 365 Copilot is the world’s first AI Copilot that is natively built into CRM and ERP.

   It brings the next generation of AI capabilities and natural language processing to every line of business – ranging from sales and marketing to service and supply chain.

   Genie in a Bottle

   Business professionals can now generate ideas and content with the help of AI. They can easily transfer mundane and time-consuming tasks and let AI do the work. The tool can also obtain deep insights in addition to suggestions on the next best actions. In short, a user can describe his needs, and the AI gets it done. A little bit like a genie in a bottle, your wish is the AI’s command.

   Here, we leave you with a powerful example of generative AI already incorporated in Dynamics 365 Copilot. This will give you a preview of work in the future, created by Microsoft.

   Viva Sales, one of Microsoft’s earlier AI functionality, can now generate content suggestions based on customer emails. Importantly, it can populate it with data that is directly relevant to the recipient of the email. This can include pricing, promotions, or upcoming deadlines.

   The Viva Sales – Embracing AI Experience

   How this works is that first and foremost, the seller gets to choose from a set of AI-suggested reply options. Next, he/she can make minor edits to the generated content to add any level of hyper-personalization. And that’s it, the user can quickly copy out the content to email and send them out.

   Today, the same task is being done manually by a seller. At first, the user sifts through tons of data to find relevant details. Then comes the manual crafting of emails one by one, incorporating personalization. And finally, the user has to double-check the information going through the CRM record.

   According to Microsoft Research, everyday sellers spent 66 percent of their time at work managing emails.

   The impact of AI on just one task at work is disruptive. Then what would the whole future of work created by Microsoft look like? 

   Microsoft Dynamics 365 Copilot – AI for Real Estate

   Property-xRM, is a vertical solution for Real Estate built on Microsoft Dynamics 365. We are always exploring ways to make work easier for Real Estate Business professionals using the power of AI.

   A Typical Real Estate Enquiry Process

   

   What you see here is a standard process that companies employ – starting with a lead/enquiry, capturing information, and engaging with them via email or phone calls, or in-person meetings. Then comes a property viewing at some point, followed by the proposals. Once we get past that, we’ve got the legal procedures, contracts, and a deal. Of course, there are steps like screening that go hand-in-hand with the engagement process or you may directly want to submit a proposal in case of a property launch – all of which is possible.

   The point is, at every stage of the journey, there is manual effort and data entry involved causing delays and inefficiencies. Combine this with a disparate organizational technology stack and it poses quite a challenge for companies to level up.

   AI in Real Estate

   With the entire Microsoft ecosystem being powered by GPT and Generative AI capabilities, users can expect all the functionalities to be natively brought into Property-xRM. Be it managing the early interactions with your prospective tenants and owners, sharing proposals, scheduling site visits, or managing appointments – the possibilities with Artificial Intelligence are endless. Lead Management, Contract Management, in particular, are key areas that companies can look to automate.
   
   To learn more about how Property-xRM leverages Microsoft Technology for Real Estate, feel free to get in touch with us.

   Book a Property-xRM Demo

7. Finding the Best CRM for Homebuilders and Developers

   March 6, 2023 1:27 pm Leave a Comment

   Are you a homebuilder or a developer looking to scale your business with a comprehensive software solution to streamline the selling process? Is nurturing leads across channels, maintaining a central database of customers, reducing handover time, and boosting revenue important to you? Let’s look at what makes for the best CRM for Homebuilders and Developers.

   Unlocking True Property Potential‍

   Real Estate is a competitive and busy industry, and staying on top of it all can be a challenge. The secret often is how you interact with prospective homeowners and how smooth their buying experience is. That’s where customer relationship management (CRM) software comes in. A real estate CRM can help streamline processes and unlock a property’s true potential.

   

   Sections:

   • What is a Real Estate Developer CRM?
   • Benefits of using a CRM for Homebuilders
   • How to select the best CRM for Homebuilders?
   • Tips for implementing a CRM for Homebuilders and Developers.

   1. What is a Real Estate Developer CRM? 

   A Real Estate Developer CRM or CRM for Homebuilders is a software that helps in streamlining the home sales process. This includes tracking leads, monitoring units on a property, and clearly managing the different stages of a buyer. It helps one stay organized and efficient in managing the real estate business.  

   A Real Estate Developer CRM empowers companies to have a repository of clients, deals, and units (properties) in one place. It allows them to keep a record of clients’ contact details, the ongoing communications with them, their unit (property) preferences, agreement details, and much more. A CRM can also be useful in tracking the progress of deals, booking appointments or showings, and storing necessary documents related to the deals. 

   A CRM built for Homebuilders helps automate repetitive business processes, such as sending out emails, timely follow-up, setting reminders, and scheduling appointments. This saves your firm valuable time, that can be used to build durable relationships with your clients and close more deals. 

   2. Benefits of Using a CRM for Homebuilders 

   Inventory Management

   Inventory is arguably the most important aspect of a real estate business. It’s what ultimately is sold, leased, or maintained. Having a well-defined inventory structure is crucial as it provides easy accessibility and visibility to the users and the managers.

   For instance, at any given point in time, it is important to have unit availability information or to know which unit in which property is nearing a sale. This is made possible with a proper inventory management mechanism which allows a homebuilder or a developer to associate an owner (or lead) with a unit, the unit with a property, and the property with a portfolio as well.

   Staying Organized 

   First and foremost, it helps you stay organized, as all your customer data, deals, and properties are in one place. This makes it easier to find the information you need quickly and efficiently. It essentially eliminates the need to ‘search for information’ which may otherwise be lost in spreadsheets, emails, or pieces of paper.

   A good CRM also acts as a guide for sales representatives who, at a quick glance would know which stage in the process the buyer actually is.

   Nurture Relationships 

   A Property Developer CRM also helps you nurture relationships with your clients. You can send automated emails and reminders, so your clients always know when their next appointment is or when their dream home is close to a reality.

   At the early stages of the buying journey, a CRM can also be used to track a client’s preferences and interests, so you can provide them with tailored recommendations on properties. This is made possible because the entire real estate inventory sits on the same CRM database, allowing real-time visibility.

   Lead Management 

   Inquiries come in from multiple sources, it could be a phone call, a web submission, a social media link, a walk-in, an email, or any other source. A CRM helps you manage your leads from a variety of these different sources leveraging omnichannel management capabilities.

   You can track the progress of each lead and prioritize them according to your criteria. This helps you focus on the leads that are most likely to convert and literally eliminates the risk of leads falling through the crack.

   CRM for Homebuilders – Must have features

   When it comes to finding the best CRM for Homebuilders, there are several things you should look for.

   • Adaptability: It should help you manage functions that cater to your business. Not just the general market practices, but your own business processes. Being a front-end operational system, the tool should have a user-friendly interface, so you can find the information you need quickly and easily.
   • Reporting Capabilities: A CRM should also have customized filtering capability, so you can segment your leads, opportunities, contracts, and units (properties) according to your criteria. A CRM must empower businesses to get a graphical representation and a real-time view of their business performance. A Microsoft-based solution like Property-xRM leverages the native capabilities of PowerBI to generate custom reports and dashboards for any organization.
   • Integration: Capabilities to connect with third-party tools for Marketing, Enterprise Resource Planning (ERP), and Accounting. This will help you streamline your processes and save time.
   • Mobile Access: It wouldn’t be among the best if it is not accessible by its users on Mobile and Tablet devices. This makes sense for a Real Estate salesperson who mostly has to work on the go.  

   3. Find the Best Real Estate Developer CRM

   

   Finding the best Real Estate Developer CRM can be a challenge, as there are so many options available. The best way to find the right CRM for you is to do your research right. Focusing on the ‘right’ CRM is often more important than choosing the ‘best’ CRM since software is not a one-fit-for-all product. Often, the best CRMs are ones that guide and empower your salespeople, a tool that salespeople love to use and that makes lives easier for them. 

   Start by defining what you want out of a CRM. What are the functions that you’re looking to streamline or automate? Once that is set, then comes the rest – the budget, the features, the scalability factor of the solution, and all the add-on functionalities.

   There are many Real Estate CRM systems out there and it is not easy to find the right one. There are four main factors that you need to consider when looking for a Real Estate Developer CRM system: 

   A. Type of Real Estate firm

   • If your firm is a large-scale operator with hundreds and thousands of users, you may require a scalable solution with a strong platform that allows you to consolidate all your processes. This also applies to developers and homebuilders that have operations in multiple countries or regions with complex processes in different regions. Property-xRM, over the years, has catered to the requirements of mega developers and homebuilders, helping them scale their businesses.
   • If the number of users is less and the operations are small-to-midsize, one may opt for a proprietary solution that offers basic real estate-specific functionalities. It will not only save money, but it will also help get the work done.

   

   B. Needs of your Real Estate business:

   • If your business has complex processes, then it might be worth investing in a global platform. Customization capabilities, ease of integration, and managing security roles, all become important factors to consider in such a scenario. Microsoft Dynamics 365 has proven to be a strong base platform with an entire ecosystem of applications under a single umbrella. This promotes efficiency and a single source of truth.
   • If your business processes are simple and follow a set standard, then it might be better to go for an affordable option that caters to your requirements.

   C. Software & User Considerations 

   Make sure that the software has the features you need to manage your business. There would be functionalities that are available ‘out-of-the-box’ (meaning they are ready-to-use), and functionalities that need to be custom-built. Always check if the basic functionalities required for your business are a tick!

   And often, it’s the ‘people’ side of software implementations that get ignored. How easy is the software to adapt to? How flexible and intuitive is it? Making sure that the end users find the tool easy to adopt is critical.
   And needless to say, one must also consider the budget before making investment decisions.  

   

   D. Business Process Analysis 

   Remember we mentioned defining requirements and processes clearly? That makes the hunt for a CRM solution much easier. Once you have narrowed down your needs, you should ideally start out with a Business Process Analysis (BPA) before adopting the CRM in one go.

   A BPA will give you a better sense of whether a CRM is the best fit for your needs. You should also make sure to ask the right questions and get the best support whenever you need it. Companies like Metadata Technologies bring with them over 20 years of CRM expertise and 100+ CRM audits, enabling companies to succeed with their digital transformation goals.

   4. Tips for Implementing a Real Estate CRM

   Once you have chosen the best CRM for homebuilders and developers, it’s time to start implementing it. Here are some tips to help you get started:

   • Have an understanding of the CRM’s features and how it could benefit your organization.
   • Set up a training program for the team to get used to the system and get queries resolved.
   • Take a phased implementation approach – start with the features that are most important.
   • Define the standard processes. This will help in incorporating future custom workflows.
   • Take advantage of the CRM’s automation features to help front-end executives save time.

   How to start using a Real Estate Developer CRM? 

   Using a Real Estate CRM is fairly straightforward. After you have set up the system, you can start using it to track leads, manage your buyer lifecycle, and monitor units on your properties. You can promote business automation by regulating emails and reminders, and use it to segment your leads and real estate portfolio according to your criteria. 

   To get the most out of a Real Estate Developer CRM, you should also use it to monitor your progress. You can track your KPIs like how many leads you have, how many deals you have closed, how much revenue you have earned, and so on. This will help you measure the success of your business and make improvements where needed with the help of automated reports generated by the CRM system. 

   

   CRM: An Essential Tool for Homebuilders

   Using a CRM is essential for Homebuilders and developers in managing business and unlocking property potential. The best Real Estate developer CRM should have all the features you need, be user-friendly, and integrate with other software. When implementing your CRM, make sure you have a good understanding of the features and set up processes and workflows to streamline your operations. With the right Real Estate Developer CRM, make the most out of your real estate business. 

   If you’re looking for the best CRM for Homebuilders and developers, get a free demo of Property-xRM today and see how it can help unlock your property potential. 

8. 6 ways to increase Tenant Retention using a Resident Portal

   December 28, 2022 12:15 am Leave a Comment

   Having good tenant relationships is important for any property management business, as it can not only improve the quality of life for tenants but also increase the profitability of the business. One way to do this is by providing a Resident Portal – an online communication platform providing tenants with tools and resources to improve their rental experience. In this article, we’ll discuss 6 ways you can use a Resident Portal to boost tenant retention and provide your customers with a better rental experience.

   What is a Resident Portal?

   A Resident Portal is an online platform that gives a resident 24*7 access to pay rent, submit a maintenance request, and keep updated about what is happening in and around his community. The ease of access increases tenant retention and overall tenant satisfaction.

   Online portals that are included in the property management software, like Property-xRM is the most convenient form. You don’t have to take the hassle of multiple services and password information. The quality of data is also better as data duplication is avoided.

   6 ways to Increase Tenant Retention Using a Resident Portal

   1. Pay Rent Online with ease

   One of the most significant benefits of an online portal is the ability it gives residents to pay rent payments online, this removes the hassle of handling checks and envelopes.

   Property management companies can save a lot of time and energy by circumventing these manual processes. An added advantage is that all payment records are organized and easily accessible by both tenants and owners increasing transparency and trust. 

   

   2. Submit Maintenance Requests at any time

   Tenants can submit maintenance requests at any time, this makes them feel more valued. So if they have a leaking tap or their air conditioner broke down, they can log in to the tenant portal and register their grievance. A tenant can give a short brief of the situation and add photos, so it provides the maintenance team with more information from the get-go, making the maintenance process faster and more efficient.

   When tenants see that their maintenance requests are dealt with swiftly, you increase tenant satisfaction and in turn, increase tenant retention.

   “Acquiring a new customer can be five to twenty five times costlier than keeping an existing one”

   Harvard Business Review

   3. Streamline Maintenance Activities

   Resident portals help in streamlining maintenance activities. The number of incoming calls is reduced as maintenance activities not belonging to an urgent category are registered using the customer portal. The ease of access to see account details and other valuable information like lease status and payments made means that residents won’t have to call up the office that often.

   4. Stay in touch with your Rental Community

   Online portals help to foster a sense of community among the residents. It provides a shared forum where the residents can communicate and connect with their neighbors, staying on top of all the events and happenings in the community.

   According to the Harvard Business Review, acquiring a new customer can be five to twenty-five times more expensive than retaining an existing one. Tenants who are happier will stay longer and be interested to buy new properties from the builder. A win-win for both parties!

   

   5. Lease Renewals made easy

   Lease renewals are simplified and made easier with a resident portal in place. By getting a clear view of his/her leases, the residents can apply for an extension or submit for renewals with a few simple clicks.

   Manual renewal of leasing contracts is a time taking process. A tenant portal can save up to 500 hours of labor a year for a single leasing agent. The advent of e-signatures also had a big role to play as they are now accepted in the major industrialized nations in the world and in the USA. With the E-sign Act giving it the same status as hand-written signatures, digital signatures don’t get more official.

   6. Self-Servicing Capabilities

   In today’s convenience-driven world, faster resolutions are often the key to higher customer satisfaction. Resident Portals promote self-servicing capabilities by leveraging the power of AI and Chat Bots. By leveraging the customer database, chatbots can provide quick responses to FAQs like rent payment due date, maintenance request status, rent amount due, etc. These instant responses often leave an impression on the residents who feel valued and satisfied at the same time.

   

   Property-xRM is a CRM-based Property Management software powered by Microsoft Dynamics 365. The Resident Portal offered along with Property-xRM has observed an increase in customer satisfaction by 45%. Explore the capabilities of Property-xRM for your organization today.

   Get a Demo Today!

9. Ellington selects Microsoft Dynamics 365 and Property-xRM

   September 23, 2022 3:20 pm Leave a Comment

   Ellington Properties, an award-winning design-led boutique developer, selects Microsoft Dynamics 365 and Property-xRM to upgrade its systems and technology. This partnership with Microsoft and Metadata Technologies will enhance support for Ellington’s customers and further enable the company’s growth.

   Over the years, Ellington has built its reputation for developing beautifully designed homes with impeccable architecture and incredible artistry. So it comes as no surprise, that a customer-oriented developer has invested in the world-class Microsoft-based Real Estate CRM solution, Property-xRM.

   This digital initiative will provide impetus to Ellington’s aim of automating its operations with a heavier focus on managing relationships with its stakeholders.

   Nitin Bhatnagar, Co-Founder, and President of Ellington Properties, said: “We have made phenomenal progress in recent years, increasing the number of launches and handovers of projects. Our digital transformation is the next step in accelerating our growth and enhancing the level of service we provide to our customers.”

   Ellington Properties will implement Microsoft Dynamics 365 CE (CRM) and Property-xRM with the support of Metadata Technologies, a Gold Microsoft Partner. This initiative will boost Ellington’s sales and service features with improved customer-centricity. The property management solution provides complete automation, minimising manual processes and human interference thereby ensuring faster processes and enhanced service for customers.

   Yvonne Chebib, Global Partner Solutions Lead, Microsoft UAE, said: “Our comprehensive solution, backed by the secure and versatile Microsoft Cloud, is specifically designed for the real estate industry. We are delighted to be working with Ellington Properties, supporting their needs to achieve faster growth and increased customer satisfaction.”

   The avant-garde Real Estate Developer’s decision to integrate a customer-focused approach into their routine functions reflects their long-standing commitment to their customers.

   Rasheed Muhammed, Managing Director, Metadata Technologies added: “We are excited about working with Ellington Properties, to enhance their customer-centric strategy and digital transformation. A Microsoft award-winning solution like Property-xRM will streamline the processes, boost productivity, provide better business insights, and hence help in achieving higher growth rates.”

   The maturity of Property-xRM helps to cater to all the major revenue-generating aspects of a real estate company’s operations. As Gold Microsoft Partners, Metadata Technologies, a CRM company has been providing solutions to large Real Estate Developers and Property Management companies for over 20 years.

   Reach out to us to schedule a free demo.

10. What is CRM in Real Estate?

    November 2, 2022 1:51 pm Leave a Comment

    Technology impacts every aspect of our lives and it is evolving at a dazzling rate. The latest Property Technology trends have transformed the Real Estate sector too. It has fundamentally changed the way customers and organizations buy and sell real estate today. Specifically, a CRM in Real Estate has revolutionized the way business relationships are managed.

    Today, a buyer or a tenant knows exactly what they are looking for in a property before making a decision to invest. So, it only makes sense for sellers to be empowered too, now more than ever!

    A Real Estate CRM is the #1 technology tool on the market today. And, if you’re in the industry, you just cannot afford to miss out on it.

    Real Estate sellers that manually fill out details of prospective customers in spread sheets and keep customer data in bulky files are getting outplayed in the market today. On the other hand, Developers and Property Management companies that manage prospects and customers leveraging technology like CRM in Real Estate are reaping rewards.

    Why is that?

    It’s because they are building better business relationships, understanding customers better, and quickly responding to their needs. Not just that, they are able to manage their buyer’s journey with a CRM.

    Simply put, a CRM software is a better digital alternative of customer relationship management in the real estate sector. The benefits of the shift are too big to ignore and in the digital age, if Real Estate firms don’t change their habits, they might as well close up shop.

    What is a CRM software?

    CRM software is a technology that helps companies to manage their relationship with customers, both current and prospective. A CRM offers a wide variety of features:  

    • Sales force automation: Lead management, Deal Management, Contact Management, and Workflow Automation.  
    • Omni-Channel Presence: Integrate email, social media, and customer portals. 
    • Analytics: Reports, Dashboards, and Visual decision-making.  
    • Marketing automation: Targeted email campaigns, Customer segmentation, and Lead nurturing. 

    Now let us understand some of the unique benefits of having a CRM in real estate.  

    Benefits of CRM in Real Estate

    CRM makes it easy for real estate companies to manage their business transactions in a far more efficient manner. Here are some of the direct and indirect benefits:

    Reminders: The old saying that you have to give respect to take respect holds true in real estate too. If you have promised a client to call them back on the coming Thursday at 4 PM, how likely is that you won’t miss it under the mountain of files and deadlines? Now multiply that mistake with more days and more people and you have pretty alarming number of missed opportunities.

    All those revenue losses for the real estate firm could have been avoided if they just remembered. A CRM will make sure that you never forget stuff by giving you timely reminders and information about every customer interaction at your fingertips. Nurture leads better and keep driving business.

    Document Management: The real estate sector has a lot of documents in its process – legal and otherwise. With e-signatures a mainstay, document management and processing have been made extremely simple and time-saving by integrating it with a CRM. The whole process moves a lot faster through the sales pipeline, giving your workforce more time to work on the next sale.

    

    Plan Effective Promotional Campaigns: Using effective customer segmentation and taking into account specific customer preferences, CRM facilitates effective management of promotions and campaigns that are pin-point aimed at different segments of prospects and customers.

    Analyse Sales Efforts: By keeping a track of the profiles of their existing clientele, the business can come up with a strategy to determine the target audience to maximize returns. Also, based on analysis of past sales success and various metrics related to it, it becomes easier to define strategies for the future.

    Management Reports and Dashboards – made easy: CRM provides the facility to generate a variety of reports and dashboards that can make decision making a lot easier for the management. These reports having extremely important and relevant sales data can come in handy and become the basis for effective decision making.

    Better Customer Servicing: CRM systems give businesses many strategic advantages such as the ability to personalize relationships with customers. The real estate sector has high-value clients and deals, so customer retention and customer satisfaction is of utmost priority. By keeping track of the preferences of customers and prospects, real estate companies can ensure their clients feel valued and satisfied.

    

    Deep-Dive into CRM in Real Estate

    Let us dive a bit deeper and understand the benefits to specific sections of the real estate sector by implementing a CRM.

    Residential

    Large-scale master developers and homebuilders can streamline operations to connect leads with their preferred unit types by keeping track of all available units. They can improve conversion rates and build long-term relationships with their clients. 

    This applies to both residential sales as well as property leasing. Some of the key functions include:

    • Generating, capturing, and nurturing leads
    • Sending sales proposals with a few clicks
    • Obtaining system-driven approvals
    • Embedding payments in proposals

    Commercial

    A CRM helps a Commercial Real Estate company to provide quality services to enterprises, corporates, and entrepreneurs by providing them with the best office spaces. They also help companies find the right location for their ventures using real-time updated listings of properties. 

    A CRM Software for Property Management helps commercial real estate companies handle new businesses as well retail existing clients through timely renewals and notifications. Key functions include:

    • Monitor real-time vacancies with interactive views
    • Auto-generate contracts and manage approvals
    • Notifications and reminders for timely renewals
    • Flexible rent and charges management

    Retail 

    If you’re a retail operator, leasing or selling properties and ensuring smooth tenant move-ins are priority areas. Deliver excellent property management services and help businesses set up shop in no time. 

    Be it Retail Leasing or Mall Managment, processes are much more complex with intricacies compared to residential leasing. A few of the key functions include:

    • Find spaces that match tenant requirements
    • Schedule periodic maintenance
    • Set delivery and operational milestones
    • Manage lease contracts and charges
    • Automate post-lease transactions

    The benefits of CRM in real estate are clear and compelling. For each benefit outlined above, there is a flip side – what happens if you don’t achieve these benefits? You will miss the opportunity to have a better understanding of your customer and increase revenue which would ultimately improve the asset value. The reality is that these processes are already occurring in every organization but without the benefit of a system to do it better and more efficiently.

    Property-xRM can help you achieve more. Combine CRM and Property Management to maximize value.

    We also understand every real estate company is unique in its needs. Explore the specific benefits of CRM for your Real Estate company. Book a free CRM Analysis session to get started. 

    Built on top of the powerful Microsoft Dynamics 365 CE (CRM) platform with comprehensive industry-specific functionalities, Property-xRM stands as the ultimate solution for property management. Learn more about why your organization needs Microsoft Dynamics 365.

    Embrace better customer management to turn every lead into a loyal customer with Property-xRM. Connect with us to get started.

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