Why Do You Need A Vertical CRM In The Real Estate Industry?

A company hinging on a CRM in order to streamline its sales operations is not an unprecedented phenomenon anymore. According to a market research firm, 91% of companies with more than 11 employees use CRM software globally.

Automobile, manufacturing & banking sectors are major users of this innovative business solution but real estate companies are gaining on the trio as well since 2014.

Currently, 76 % of real estate brokerage houses in the US are wielding the power of CRM tools but the figures dwindle as we move eastwards on the world map.

Despite the gradual growth in the adoption rate of CRM software in the United States, it’s an irony that only less than half of those implementers witnessed an ascent in their ROI graphs. Strange… isn’t it?

Is It Unworthy To Invest In A  CRM For A Real Estate Firm? 

Not at all, it’s the disposition of scratching the surface of CRMs and making the wrong selection of software, that causes failure in delivering the desired results.

A generic CRM may help to detect the possibility of creating a conversion funnel and let you keep the track of communications through a synchronized calendar. But, is it enough to yield ROI growth? And, does a tool like that really helps to improve the sales cycle and add robustness to the process?

The chances are really bleak with such non-specific CRM and in fact, the inclusion of such irrelevant software may entail cost redundancy as well.

Vertical CRM Is The Need In Real Estate Industry

The sales process in real estate is much different than it is in other industries. The successful transactions in the real estate greatly rely on upselling & cross-selling methods. For that, a domain-specified CRM plays a pivotal role to drive increased customer engagement and retention rate.

A real estate specialized CRM consists of vetted modules and functionalities that help in nurturing the leads that are roped in through tedious marketing campaigns.

In a brokerage house, from the initial effort put into opening sales pitch to ushering the client to the project site and then the final bit of enticement till the closure, the entire sales cycle need continuous communication follow-up.

A specialized CRM with an in-built communication concierge function can be instrumental in the execution of all the aforementioned activities.

Real estate leads are aggregated from multiple research-driven online campaigns and monitoring the performance of each platform individually can be long-drawn-out exercises on a generic CRM.

On the other hand, a domain-specific CRM gives you drill-down charts to scale the performance of campaigns run on multiple platforms. This helps to ascertain which marketing platform is more result-oriented for your present campaign and helps to achieve the business goal much faster than expected.

In addition, when a generic CRM is used in the lead assignment procedure of real estate operations, the non-specific tool executes the step at a rather random manner—it may even assign a long-standing hot lead to a rookie salesperson—studies suggest that 71 % of leads get wasted because they are assigned to sales representatives who are either inexperienced or not adept in handling certain scenarios.

On the other hand, a domain-specific counterpart like is powered with sales automation and driven my ML algorithms, that allows the administrator to preset a rule-based lead assignment process, this ensures that all the queued-up leads in the pipeline of your CRM are automatically assigned to the ideal person in your sales force.

Horizontal CRM Vs Vertical CRM

Before we sum it up, here is the difference between a generic or horizontal CRM and a vertical CRM based on different parameters.

Horizontal CRM Vs Vertical CRM Performance Difference

On a conclusive note, there is a stark contrast in the performance levels of the two variants of CRMs, if employed in a real estate framework. A horizontal or a generic CRM is may virtually look an inch deep and a mile wide but it only fulfills the basic requirements of any standard business, whereas a vertical-specific CRM is designed to cater the specific business requirements of the real estate industry and doesn’t demand much customization and manual effort. So, if you have a real estate business and still dawdling over a generic CRM, it’s the right time for you to switch to an Artificial Intelligence – driven CRM that understands your business needs.

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