Is CRM Software the Right Choice for Private Equity Real Estate Businesses?
Apr 27, 2019 17:56
When it comes to real estate investment in the asset class, private equity real estate, one of the four quadrants of real estate capital hold an important position. The other quadrants being private debt, public equity and public debt. From acquisition, to financing and transfer of ownership are the different aspects of private equity real estate business.
In order to make such a delicately balanced business run through managers and investors who drive equity capital to the private real estate. Since the entire process involves many steps and multiple numbers of sets, CRM software can enhance performance and productivity. It can effectively manage communication among the several elements required to function a private equity real estate business. In short a real estate CRM can help the realtors achieve greater success in terms of dealing away with repetitive tasks. It gets easier to stay connected to the customers as well through the use of free CRM software.
A CRM for real estate can help accomplish the unique requirements of your clients and address all their real estate needs. From organizing contacts to monitoring leads. The automated workflow will definitely give a strong impetus to the sales force.
Here are the areas where CRM can be most effective
Fundraising – For any business funds are very important. For private equity real estate business, fundraising can be challenging, and it requires a lot of persuasions, an effective CRM in place can help your customer reps to maintain successful follow-ups. Tracking leads become easier and clients stay happy due to the regular communication and updates that a CRM maintains and pushes forth for the cline's benefit. Interactive phone and email services make the system very interactive.
Track interaction and manage database – A CRM can track all relevant interaction making the system invincible as it has a memory that hardly forgets anything. You can manage your business much better as the CRM knows the nuances too well. Lead scoring and tracking the lifecycle needs of the business by matching investors is a real boon that CRM can help with. It can also help you give a consistent performance.
Comparative analysis – A good CRM always helps you deal with your peers better. You get to know who is doing how well or poorly. You get to do an analysis with your metrics against them. You can stay in the top of your game by an effective strategy and will always know the status of your sales pipeline. You can also set a sales report based on timelines and it will effectively prioritize your tasks better. You will also get a clearer picture of how you are doing against your own set goals. The reporting is also important to keep the investors happy. A good analysis report is also very important in case of sudden fundraising requirement.
Effective management of deal flow – With every data to back you up, you will be ready to handle any challenges at any given stage of a deal. Your past engagements’ information can be effectively applied to a future or present requirement. Multiple platforms are not required a single platform can handle layers and levels of information. From customer interaction to investor satisfaction all can be achieved by a good CRM solution for a private equity business. Third party integration is also easier.
Acquisition and disposition management – From acquisition to disposition, there are countless steps and the resulting data that gets accumulated in tremendous. There are many companies that outsource the data management or cloud storage is availed. In such case that data integration becomes a difficulty but all information stored on a single platform helps optimal use of data.
Track investment performance – With instant information at your fingertips, it becomes easier to focus on the investments. Deal closure and monitoring become easier and great clarity is available. You can maintain balance among your investment in terms of acquisition followed disposition, keeping your budgetary allowance or available funds in mind.
Service attention – With a specialized CRM in place, no client or investor will feel you are not giving them enough service attention. The CRM effectively manages all types of interaction. For CRM designed for private equity real estate business, the CRM needs to be not only fulfilling the regular needs of a CRM but also capable of additional functions. Having features like investor dashboard and analytics driving at investor can help to look for opportunities and successfully sustain all need of the company arising of the CRM.
Automation and security – Inbuilt security system should be in place within your CRM. From maintaining the confidential information about your customers, your investor's details are also to be protected. More importantly, as such security is well-addressed in CRMs, for private equity real estate CRM, needs to protect deals at all stages.
Tracking all your leads from time to time to monitor how they are each engaging with your company is a top priority for the CRM you employ. Keeping pace with your investments and investors alike is also carried out by the special CRM. It helps you carry out all your functions effectively from dealing with potential as well as current customers and investors. Past references of customers and investor information and their present activity can also be traced to essentially help in the process of gaining your business more investment successfully.
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