There is no denying that managing properties is labour intensive. As real estate agents you are responsible for administering and addressing many requests received by landlords and tenants, with the expectation that these requests are completed as effectively as possible.
This year the rental market experienced many industry-firsts due to the impact of COVID19 and buyers taking full advantage of the Stamp Duty Holiday. With property prices peaking, a stock shortage and a wave of people looking to move outside of traditionally sought-after locations, these challenges have weighed heavily on estate agents needing to act quickly to list and sell more properties than ever before.
With demand at an all-time high and stock experiencing an all-time low, there is an increasing demand of buyers now looking at short and long term lets until the market becomes more consistent.
How CRM software is aiding property management professionals
The best sales, lettings and property management software is a vital tool for future-proofing business performance, winning more sales/ leases and achieving long term customer retention. Known as a driving tool, key functionality within lettings and property management software allows agents to save valuable time and resources.
Better business core functionality means leaving behind tiresome and unreliable spreadsheets in favour of modern dashboards that streamline the pre-tenancy and tenancy management process, improved property inspection detailing and property maintenance logs also keeps information for a property in one easy to navigate workspace.
Some property management systems like ReziPM, also offer sleek and efficient client accounting and auto banking facilities, meaning agents can effectively communicate with tenants, contractors and landlords viewing the latest updated tasks, banking, and maintenance activities all from the main dashboards.
It’s time to evaluate office performance
As more estate agents are opting to work remotely, business owners are being forced to evaluate the need for brick-and-mortar offices with many turning to hybrid solutions and online-only agencies. A surge of buyers using online convenience browsing is also seeing a steady rise. It is therefore important that business functionality is inclusive of these buyer demands or is part of your business strategy for future-proofing your agency.
The most effective CRM and Property Management software offers property managers an all-around solution for ensuring streamlined operations for running a business. Seeking a solution that is cloud-based has never been more vital. The ability to offer your team flexible working solutions, whether that be at home or the office means that everyone can have access to information anywhere and at any time to progress a sale.
Improve landlord and tenant retention with CRM software
A CRM solution is not just for nurturing and securing an initial sale or lease. Customer relationship management software is designed to also work far beyond the initial line crossing. Sales, lettings, and property managers are using their software as a tool for strengthening customer relationships, better management of portfolios and working more effectively to standardize business processes, ensuring better working relationships with their clients.
Research shows that busy landlords and tenants do not want to be kept waiting for updates on tasks, maintenance, and paperwork. Transparency of these processes between all parties means that everyone is kept up to date with the latest key milestones and allows for a more open line of communication.
Confidence in an estate agent is the number one desire for landlords and tenants in the rental market. With many agencies offering quick transactions it is important to assess the delivery of such processes. CRM software is proven to reduce administration tasks, speed up daily processes and with the introduction of client portals, such as Rezi Anytime agents can now offer an online 24/7 secure login portal to their clients for anytime document upload, e-signing, and property progression overview.
Key Benefits of utilising CRM software for letting and property managers
Improve landlord and tenant retention
Deliver excellent customer service
Automate processes to save resource
Better manage administration tasks
Effectively work anywhere and anytime with cloud-based software
Efficiently track property tasks including maintenance, payments, and invoices
Standardise office workflows ensuring consistent processes across all teams
Create uniform dashboards to improve visibility and complete actions
Want to find out more about Rezi sales, lettings or property management solutions? You can book a demo here.
*Richard Milner is the Head of Sales of Dezrez, a UK-based independent estate agency software provider