Real Estate CRM Software
Definitions and Best Practices

Technology is changing the way that commercial real estate firms engage, communicate, and conduct business with investors. And in a world where customer expectations are higher than ever before, CRE firms can't afford to ignore the opportunity to build a winning investor experience.

What is a CRM?

CRM is short for Customer Relationship Management. CRM software provides a way for you to maintain a database of your prospects and customers and to track, analyze, and record all of the information you have about these people and interactions you have with them. A CRM is more than just a contact manager, Excel spreadsheet, Rolodex of business cards, or stack of sticky notes. This tool simplifies, centralizes, and scales your investor management and engagement. In fact, ~75% of CRM users say this software has improved their access to customer data.

What is Real Estate CRM Software?

Real estate CRM software is customer relationship management technology that is tailored specifically for the real estate vertical. A real estate CRM enables commercial real estate firms to manage their investors but also to manage investor expectations.

Recently, the commercial real estate industry has started to shift from a demand perspective. Investor expectations and demands are on the rise, and they want:

  • Increased transparency
  • Improved accessibility
  • More info about deal flow, deal interaction, and deal progress
  • More insights about the performance of their investments
  • A sophisticated web portal and mobile access

While there are hundreds of CRM technologies out there on the market, horizontal solutions – with a one-size-fits-all approach –  don’t always support or meet the industry-specific business needs of every company.

In a recent survey, real estate saw the biggest demand for a specialized, industry-specific CRM. In response to this pressing need, companies including Investor Management Services, have developed CRM software specific to the needs, challenges, complexities, and priorities of the real estate industry. A horizontal CRM solution would require a lot of customization to make it relevant to the CRE industry, whereas a real estate CRM has those features and functions built right in, minus the added complexity of unnecessary features.

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Real estate has seen the biggest demand for an industry-specific CRM

How to Leverage Real Estate CRM Software

Over 70% of CRE firms still use one or more manual methods to manage their customer relationships. But these manual methods hinder productivity and slow down firm efficiency. And in these situations, information is often scattered across multiple people and locations.

For the sponsor, a real estate CRM software such as the IMS platform provides a single, central location to store and manage contact information and activity. It enables you to efficiently manage relationships with investors and other stakeholders, with all the important information right at your fingertips. And with real estate CRM software, sponsors can find investor information up to 76% faster.

In addition to standard CRM tasks, a real estate CRM such as investor management software can perform the following functions:

  • Track each contact’s investment activities so that you can see how they are engaging with your firm.
  • Associate investment management professionals to an investor profile.
  • Manage real estate-specific data inputs such as investment history, asset type preferences, regional preferences, deal size preferences, and other investment criteria.
  • Simplify, streamline, and store communications with investors, such as emails and invitations to invest.
  • Set tasks to help you maintain and develop investor relationships.

With these capabilities and types of information, sponsors can offer a more personalized investing experience, create more value for investors, and raise equity faster, knowing which prospects would be a best-fit for each investment opportunity.

For the investor, technology such as IMS enables investors to easily and quickly access data and information. Investor dashboards available in investor management software deliver the transparency and availability that investors demand while simultaneously providing the improved user experience they have come to expect. With 24/7, real-time access from desktop or mobile, investors can view the positions and performance of their investments, look up ownership percentages and historical distributions, and access investment documents.

Investing in real estate CRM software such as the IMS platform results in a better user experience for owners and investors alike.

Ready to Get Started?

Investor Management Services (IMS) is the leading investor management software platform for CRE owners and investment firms. Today, we have over 550+ customers who have been able to reallocate thousands of hours back to value-add activities for their 85,000+ investors. The IMS Platform is being used to calculate $2+ Billion in distributions and $50+ Billion in equity.

To learn more about how commercial real estate firms have used IMS’ Commercial Real Estate CRM software to save time and resources, drive value, and improve the investor experience click here. Ready to go ahead and take the next step?

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