CRM Software for the Real Estate Industry Key Terms

Learn basic terms relating to CRM software for the real estate industry

Using CRM software for the real estate industry is the best way to build any company. From the basic sales contact tools to the detailed databases of customer history reports and sales analysis, CRM software can be a big benefit to any real estate company.

Learning a few of the basic key terms associated with CRM software can help you find a system with the best compatible components for your business. Find out what basic features to look for such as appointment schedules and sales tracking. Look for advanced marketing and market analysis features as customizable options.

 

Customer relationship management (CRM)

CRM is defined as a strategy of dealing with the customer. It includes understanding and responding to a customer or potential customer's needs
Try: The theory of customer relationship management is explained in great detail at the Businessballs.com website.

Sales force automation

Sales force automation uses software to modernize the sales process giving sales associates instant access to contact information, appointment calendars, customer histories and much more. The software is often times combined with CRM to streamline the sales process.
Try: Read the definition of sales force automation in the CRM Today glossary of terms.

Operational, collaborative and analytical

The three main types of CRM are operational CRM, collaborative CRM and analytical CRM. Operational components work to streamline customer relations and efficiency, while collaborative CRM covers the communication with customers. Analytical CRM is the tool used to review customer relations.
Try: The entire CRM process and software capabilities is explained in detail at the CRM Landmark website.

Pipeline and funnel

Two basic terms that may come up in your search for the best CRM real estate software are pipeline and funnel. The sales funnel is the plan to work from prospective sales through the actual transaction. The pipeline works in a similar way but doesn't include conversions to sales. Instead, it is a more direct route without the conversion from one step of the sales process to the other. Both sales tools are important to consider when looking for CRM software.
Try: The sales pipeline and funnel tools are defined at BizJobs.

Lead generation

Lead generation is defined as the simple process of finding potential customers and sales.
Try: Read the definition and explanation of lead generation at ArmingYourFarming.com.

Web-based CRM

Web-based CRM software for real estate companies is available. It is simply CRM software hosted by a third-party vendor site. You gain complete access via the Internet, and don't have the hassle of software installation and maintenance.
Try: Read about web-based CRM options at MasterDigm, a company that offers web-based CRM access.

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