The Benefits of a CRM for Wholesaling - REI Machines

Benefits of a CRM for Wholesaling

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By: Chris Lewis

Posted On: April 18, 2020

Benefits of Using a CRM for Wholesaling

All types of Real Estate businesses are built on relationships. If your business doesn’t have the right infrastructure to manage relationships, you are going to lose business. A CRM for wholesaling is not optional, rather it is an necessity and is the key to managing relationships and closing deals. Here’s why..

What is a CRM?

CRM stands for Customer Relationship Management. A CRM allows you to: :

  • Manage leads that are in different stages (new lead, cold lead, hot lead, etc)
  • Stay in touch with old leads
  • Automate follow-up with leads who are not yet ready to sell
  • Keep accurate records of conversations (email, text, phone, etc)
  • Store property info for future reference
  • Create tasks for yourself or team members
  • Maintain an up to date database of all your leads
  • Easily search and find leads based on a number of different factors

Why do you need a CRM?

If you want to scale your business, you will need a CRM for wholesaling. Spreadsheets, and google calendar reminders are great, but they are also very limited and take a lot of effort, and know-how to create automation like you will get with a CRM. Although it can be done through software like zapier, it is not recommended. Ask yourself these questions while considering if you need a CRM for wholesaling in your business:

benefits of a crm for wholesaling

 

  • What are your processes in your business?
  • Are the processes efficient?
  • Are there parts of the processes that are not efficient and take too long, or are constantly a point of contention for yourself and/or your team?
  • Are your processes automated?
  • Do your processes run with little to no oversight?
  • What areas of your business need to be changed or improved to meet your goals?
  • Would a system that manages and automates many of the daily tasks you and/or your team do manually, help your business grow?

Relationships and businesses are built by providing the right service to the right person at the right time. A CRM will provide you with information that help you provide better service to both your leads and buyers, through every phase of the transaction, from first contact, to appt, and through the contract to close process.

Since you can automate so many tasks from a good CRM system, you won’t need to devote so much time to repetitive administrative tasks, like emails and follow ups.

Wholesalers often don’t do a great job of follow-up by themselfes, which is why a good CRM can help with responsiveness by systematizing and automating the the follow-up lprocess. a Great CRM for wholesaling will have a follow-up sequence for every type of lead stage.

 

WHY USE A CRM FOR WHOLESALING?

We’ve already covered many benefits of using a crm for wholesaling, and here are some more advantages of a CRM system for your wholesaling business:

  • Intuitiveness of a CRM : A good CRM for wholesaling is accessible and available on different devices like iPads, iPhones, Android, etc. and takes a lot of the guesswork out of the equation and being hands-on all the time, off your plate!
  • Easy customization: Most CRM systems are pretty customizable and professionally developed. There is no such thing as a “one size fits all” CRM for businesses, nor should there be. Rather, a CRM made specifically for your industry will be the most effective, as well as allow for the best customization for your particular business.
  • CRM automates a majority of tasks: One of he main benefits of a CRM for wholesaling is automation of mundane tasks. Automate emails, texts, reminders, follow ups, tasks and more, with your CRM.
  • Seller & Property Info is a click away: A good CRM for wholesaling includes easy to navigate contact management, so you can always find, organize and manage both your contacts and properties, as well as a detailed history and event management. This way, you can search a contact and have all the data on that contact available to you without having to go back through notes, emails, text messages, etc.
  • Increase conversion ratio: Since you will more easily be able to strike when the iron is hot, there are higher chances of converting a lead inquiry into a sale.

A great CRM for Wholesaling makes the things amazingly simple for you!

  • It will manage every aspect related to your leads, properties and other contacts.
  • A CRM for wholesaling keep you front of mind with your leads, because it automatically sends follow up messages
  • A CRM should offer a simple user interface that is easy to navigate and presents all important information related to a lead.
  • You can schedule appointments, create task, and organize your business using a good CRM for wholesaling. The more organized you are, the better your system will operate.

If you are looking for a CRM built specifically for wholesaling, take a look at our LEAD MACHINE CRM 

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