In the dynamic world of off-market real estate investing, the CRM (Customer Relationship Management) tool stands as an unsung hero.
If you find yourself juggling multiple deals, drowning in a sea of leads, a CRM could be your lifeline.
In this comprehensive guide, we’ll dive deep into the top 5 CRMs tailored for real estate investors, guiding you away from potential pitfalls and ensuring you’re not caught in a CRM switch mid-deal.
We’re investors too, and we’ll even spill the beans on our personal favorite.
Do you need a CRM? And why?
The word “CRM” is being pushed out as if EVERYONE needs it. But the true question you should ask first is:
“Do you actually need a CRM right now?”
If you’re new, there might be more important things you need. You, for one, need to learn how to find sellers and make offers to them.
Here’s a breakdown of those who need a CRM and those who probably don’t need and other alternatives.
Those who don’t need it
Not everyone needs a CRM… For the casual investor dabbling in one to three deals annually, a CRM might be overkill.
A simple Excel spreadsheet could suffice for tracking and management.
For those that are BRAND NEW, a CRM might be the last thing you need (though you’ll need some tools like driving for dollars app, data, and date cleaning/sorting that we mention below)
Those who need it
Serious investors handling over 10 leads monthly or managing a team will significantly benefit from a CRM.
Why use a CRM:
For off-market investors, a CRM isn’t just a fancy database. It organizes your leads, ensures timely follow-ups, and automates several mundane tasks, freeing up time and reducing human error.
What Makes a CRM Terrible?
There a TONS of CRMs for investors on the market. And you can easily be coerced into buying one from marketing gimmicks and ploys. And a sub-par CRM can be a real productivity killer. And once you and your team and business are neck deep in a CRM, it’s a real pain in the neck to switch later.
So here are some red flags to CRMs:
1. Low Functionality: If it feels like the CRM is just a dressed-up spreadsheet, it probably is.
2. Little Integrations: The best CRMs integrate seamlessly with your website, phone system, and more, automatically feeding in leads.
3. No Drip Automations: The power to automate follow-ups via emails, SMS, and direct mails is non-negotiable.
4. Sparse Variables/Merge Fields: rich variety of fields aids in setting up diverse drip sequences.
5. Poor User Interface: A confusing dashboard hampers efficiency, hindering quick access to leads.
6. Disorganization: In the real estate world, lost leads equate to lost revenue. An organized CRM keeps leads in line, ensuring none slip through the cracks.
Two Types of CRMs
All CRM’s can be broken into two types we explain below. And choosing the right one is a matter of which category you fall into o.r prefer
1.) All in one CRMs: Platforms like Hubspot or SalesForce are one-stop-shops. While they’re feature-packed, you might end up paying for tools you won’t ever use. However, the advantage is a singular dashboard, minimizing tool confusion among teams and simplifying operations.
2.) Specialized CRMs: These excel in specific functions, like email marketing or lead management. They’re often more user-friendly in their niche, but integration with other tools can be a mixed bag. These are great for those that enjoy certain other tools and don’t need their CRM to be a bloathing mess of all these tools they probably won’t be using; they’re more for an investor who’d rather have simple.
Top 5 CRMs
Ok, now that we cleared up the air on some naunces of CRMs, let’s get to our top 5 list…
Pricing: $99-$299 per month
– All-in-one tool for investors, encompassing features from bookkeeping and calling to data extraction.
– User-friendly interface that streamlines daily tasks for real estate professionals.
– Scalability for growing real estate businesses with adaptable tools.
Reasons it’s top:
ReSimpli stands out primarily because it’s designed with real estate investors in mind. Its owner, a real estate investor, understands the unique challenges this field presents. The platform’s all-in-one functionality means that instead of juggling multiple tools, users get everything they need in one place. This holistic approach not only saves time but reduces the complexity of operations. The dashboard is intuitive, ensuring even those new to CRMs can navigate with ease. The pricing, given its vast array of tools, is competitive, making it an attractive choice for investors.
2. Investor Fuse:
Price: $147-$247 per month
-Seamless integration with other tools
-For investors who are loyal to other tools.
– Robust lead management capabilities.
– Automated follow-up sequences to nurture leads.
Reasons it’s top:
Backed by Investor Carrot, a leader in the REI digital space, Investor Fuse is renowned for its reliable customer support and robust integrations. The platform shines when it comes to lead management, allowing users to categorize, prioritize, and follow up with potential leads in a streamlined manner. Its dashboard, while comprehensive, is easy to navigate, ensuring that users can quickly access the functionalities they need. The automation, particularly for drip sequences, ensures consistent and timely follow-ups.
3. Deal Machine
Pricing: $79-$119 per month
Reasons it’s top:
Deal Machine is not your conventional CRM. Instead, it’s tailor-made for those who adopt a “driving for dollars” strategy. The mobile app functionality is its strong suit, allowing users to scout properties, manage leads, and even initiate marketing campaigns on-the-go. Its integration of direct mail marketing means users can initiate campaigns immediately upon finding a potential lead. This swift action can be a game-changer in the fast-paced real estate market.
Price: $49-$149 per month
– Specializes in data sorting and cleaning for real estate leads.
– Scoring system for lead prioritization.
– Mobile app functionality for on-the-go data access.
Reasons it’s top:
REISift revolutionizes the way real estate investors handle data. Data-driven decisions are at the heart of successful real estate deals, and REISift ensures data accuracy. Its ability to clean, sort, and prioritize leads based on a scoring system allows users to focus on the most promising leads. The fact that the owner is not just an investor, but is actively engaged with the REI community, ensures that the platform continuously evolves to meet the real, on-ground needs of its users.
Price: $20-$500 per month (they have a free option which doesn’t provide much)
– Comprehensive lead and customer journey mapping.
– Internal communication tools for sales teams.
– Detailed reporting and analytics.
Reasons it’s top:
Hubspot, a behemoth in the CRM space, is revered for a reason. Its robust functionalities are suited for large organizations with diverse needs. Real estate investors with large acquisition teams can leverage Hubspot’s detailed customer journey mapping to understand lead behavior. The platform promotes seamless internal communication, with features that allow tagging, commenting, and notifying team members. Its analytical capabilities provide insights that can shape marketing strategies, ensuring maximum ROI. While it’s feature-rich, it’s still less complicated than platforms like Salesforce, making it more accessible.
How to Make Use of Your CRM for Growth
The greatest CRM blunder is neglect. It’s not about the tool; it’s about working it. Dive into your CRM daily, hunting for opportunities. Make copious notes, keeping conversations transparent for any team member. Capitalize on automated drip campaigns, ensuring leads are nurtured.
A CRM is not just a tool but a central part of your real estate investment strategy. If you’re not making optimal use of it, you’re merely skimming the surface of what’s possible.
Daily Engagement: One of the primary reasons for the success of real estate investors who use CRMs is daily engagement. It’s similar to a workout regime – if you’re not consistent, you won’t see results. Spending time daily in your CRM, probing, and analyzing opportunities can make the difference between a lost lead and a successful deal.
Note-Taking: Documentation is vital. Detailed notes provide context for future follow-ups and ensure that any team member can pick up right where the last conversation ended. Moreover, they act as a legal record of all interactions, invaluable in any business dispute.
Task Management: Leveraging your CRM’s task and notification features will make sure you never miss an opportunity. By setting reminders and notifications, you stay on top of your leads, ensuring that none slip through the cracks.
Automation: In today’s fast-paced world, automating repetitive tasks is crucial. Good CRMs come equipped with features that allow you to automate drip campaigns, ensuring consistent interaction with your leads even when you’re not actively engaged.
How to Use Your CRM to Find Deals
While a CRM is pivotal, it’s of no use without leads. Regular and consistent marketing is essential. Using direct mail, frequently mailing your list, and linking your CRM with tracking phone numbers will ensure you measure the efficacy of campaigns and capitalize on the most profitable ones.
Having a CRM is only half the battle. It acts as the backbone for your marketing endeavors, but you need to feed it with quality leads. Here’s how you can supercharge your lead acquisition using a CRM:
Direct Mail with Automation: Direct mail, while traditional, is still one of the most effective marketing methods for real estate. Automating this process ensures consistency. With services like Lead Engine, you not only automate mailers but also ensure that any responses or leads generated are directly fed into your CRM.
Consistent Marketing: One-off marketing campaigns rarely yield the desired results. The key is consistency. With a CRM, you can set reminders for marketing campaigns, track which ones were most effective, and refine your strategy accordingly.
Phone Number Tracking: With so many marketing channels available, it’s crucial to know which ones are working. By linking unique phone numbers to specific campaigns and integrating these with your CRM, you can track the source of your leads. This granular data allows you to focus your efforts on channels that give the best ROI.
For the earnest real estate investor, the right CRM is not just a tool; it’s a trusted ally. From organizing leads, automating mundane tasks, to ensuring no opportunity is lost, a CRM can be the game-changer in your investment journey. So, invest wisely in the right CRM, work it diligently, and watch your real estate empire grow.
In today’s fast-paced real estate market, having a CRM isn’t just a luxury—it’s a necessity. Whether you’re a budding investor or a seasoned professional, a CRM offers unparalleled organizational capabilities, ensuring you never miss out on potential opportunities. But having a tool isn’t enough. The real magic happens when you know how to wield it effectively. From selecting the best CRM that fits your needs, understanding its features, to integrating it with your marketing efforts, every step plays a crucial role in ensuring success in the real estate market.