Too often financial controllers are permitted to influence decisions regarding systems to underpin client relationships - systems that enable the business to connect and stay connected with its clients. This is madness.
CRM stands for Customer Relationship Management. Real estate is all about relationships.
Make no mistake, real estate is CRM.
Administrators are also, too often, delegated with the responsibility of designing business processes that should be made with the customer in mind. This should be a collaborative effort involving all stakeholders - especially those who are in the trenches with a keen understanding of the customer’s needs. Every process and policy must be designed with your customer in mind.
All company processes must support the company’s core business. In the real estate industry, the relationship with your customers is your business. Therefore CRM is the first and fundamental company platform to get right. Nobody ever sold a house by reconciling a trust account faster.
Trust accounting and administration falls under the banner of compliance. Yes, this is a fundamental pillar of any successful business and must be addressed. However there is no point setting up your administrative platform only to realise that it won’t support or integrate with your CRM strategy.
As a matter of fact, most companies that do this don’t have a CRM strategy and essentially shoot from the hip rather aim for a measurable target.
A company that gets its administration process right yet ostracises its consultants, is heading for a disaster. The consultants bring the money in. The administrators support the consultants. That’s how it works in law firms, medical clinics and just about any other consumer facing industry and that’s what should happen in real estate.
Choose your CRM platform wisely and ensure that all internal stakeholders are involved in the collaboration process of designing systems and procedures that impact your customer relations.