How to Choose a CRM as a New Real Estate Agent
May 25, 2022There is no question that a CRM is one of the most important tools a real estate agent uses on a daily basis. A CRM, an acronym meaning Customer Relationship Management, is used to house an agent’s all-important database of clients, leads, past clients, industry partners, and others. In many ways, your CRM will contain the most valuable part of your business — so the decision of which to use should not be taken lightly.
It’s worth noting that a CRM is just as essential for new real estate agents as it is for veterans. Don’t fall into the trap of thinking you won’t use it until you start landing transactions. One of your first tasks should be setting up your CRM and adding everyone you know to it. From there, you will find there are a wide range of daily tasks that you perform via your CRM.
How Do Realtors Use CRMs?
Store Client Profiles
As mentioned above, your CRM is where you’ll store all the information about your clients — and anyone else in your network. You should go well beyond entering their names and email addresses, and add as much information as possible. It’s smart to look for a CRM that enables you to store any and all client information you might find helpful. From pet’s names to anniversaries to favorite sports teams, you’ll want to be sure to add anything that could help you keep your communication unexpectedly fresh down the line.
Manage Your Transactions
This is the most obvious use case, but that doesn’t make it any less important. It can be extremely hard to keep your transactions organized without a great CRM to support your business. Don’t just think about your business today — but where you want it to be five or 10 years down the line. Do you plan on having a team? How many transactions will you be doing per month? A great CRM will make sure you’re on top of every step and nothing falls through the cracks.
Send Emails and Newsletters
Many CRMs can also be used as ESPs (Email Service Providers) to send messages and newsletters to your database. This is an extremely useful function as you can often set it up to automatically email your clients based on the stage of the transaction, rather than manage that process manually. It also makes it easy to send mass emails and newsletters in order to keep in touch with your database.
Choosing the Best CRM for Your Real Estate Business
Now that you’re convinced you need a CRM, the question is which one will be right for you. There is no shortage of options available on the market, and there also isn’t one right choice. The key is deciding which tools are most essential to how you will run your business, and more importantly, which ones you will actually put to use. Here are some of the most popular CRMs available, and what to keep in mind.
Your Brokerage’s CRM
Some brokerages offer a proprietary CRM or have a relationship with a third party company. While going with your brokerage’s CRM may be the easiest and most cost efficient option, make sure to consider what would happen if you were to join another brokerage in the future. Will they allow you to export your database if you leave? If it’s a third party CRM, would you be able to sign up through a personal account and still access your information? Does their CRM have all the functionality you need and are you able to try it out first? Don’t make sacrifices for convenience as this decision will set you up for your future.
Our Favorite Feature: Cost efficient and potentially includes training
Potential Downside: May be difficult to transition out of
Wise Agent
Cost: $32 per month
Wise Agent is a popular option and one of the most affordable ones on the market. You’ll find it has useful tools like the ability to send highly customizable drip email campaigns to lead sources and build landing pages for listings. It does not include SMS texting in the price, so keep in mind that will be an extra cost.
Our Favorite Feature: Plenty of space to leave additional details about clients like dog’s name, etc.
Potential Downside: The interface may feel a little clunky and out of date.
LionDesk
Cost: $25-99 per month (Depending on the volume of monthly texts and emails you plan to send)
There is a lot to love about LionDesk, specifically the ability to adjust your cost per month based on how much you plan to use it. Reviews emphasize that this CRM is incredibly easy to learn and use, and includes functionality for automating email and text replies. You can even use the video recording tool to send video messages directly to clients and leads.
Our Favorite Feature: Easy to use/great for beginner agents
Potential Downside: Reviews note that transaction management isn’t the best
Top Producer
Cost: $54 per month
While Top Producer is a little more pricey, it’s also mobile friendly and includes some useful “smart” functionality for keeping your most important leads warm. You can connect Top Producer directly to your MLS and stay on top of your transactions and marketing in one place.
Our Favorite Feature: Excellent transaction management
Potential Downside: Higher price point
FollowUp Boss
Cost: $69 per month
For the more tech-forward agent with a healthy budget, you can’t get much better than FollowUp Boss. Like Top Producer, it syncs with your MLS and allows you to automate client emails throughout the buying or selling process. The transaction management tools go well beyond what other CRMs offer, but it will take some effort to get set up.
Our Favorite Feature: Advanced lead management tools
Potential Downside: May be complex for someone who is not super comfortable with technology
BoomTown
Cost: Not listed — but sites show that its packages are built for teams of 3 or more at $1,000 per month
BoomTown is more of an enterprise CRM option and is not necessarily designed for single agent usage. However, if you have the opportunity to use it through your brokerage, it’s certainly worth considering. From tools to help nurture leads to automating emails and messages to clients, BoomTown does everything you need it to do on desktop and mobile.
Our Favorite Feature: Integrates nicely with tons of apps including BombBomb and MailChimp
Potential Downside: Pricing is high for single agents
