Real Estate businesses are on the rise in recent times. But Real Estate Developers need to ask themselves whether they manage that expansion and growth in a way that aligns with the firm’s overarching vision, mission, targets and expectations. For a domain like Real Estate, one wrong phone call could cost a fortune.
Realtors must take notice of their employees’ performances both individually and in their teams. They also need to implement sound strategies to leverage and orient their workforce towards the common goal of business growth. This is where performance management comes into the picture.
A Guide To Real Estate CRM Software For Performance Management
What is Performance Management? Why is it crucial for the Real Estate business?
Business performance management is a corporate management process that assists managers in monitoring and reviewing the performance of their employees. Its main motive is to cultivate an atmosphere where people can work to their fullest potential to deliver the highest-quality work most productively and dynamically. You need to set a pragmatic approach towards goal-setting, progress reviews, real-time feedback, training, and performance evaluation.
CRM Software and other Real Estate sales performance management solutions assist top-level executives in adjudicating workflows, advocating new courses of action, and emphasising transparency, accountability, and improved communication within Real Estate business teams.
What is the role of Real Estate CRM in performance management?
Customer Relationship Management (CRM) solutions built exclusively for the Real Estate sector assist in analyzing, monitoring, and evaluating the performance of the representatives and teams. Managers can bank on a Real Estate CRM to keep track of the operational efficiency of internal tasks, inspect their sales team’s activities, and audit customer-related transactions.
The following features of CRM Software enable close monitoring of the performance of Real Estate sales representatives.
1. Team management:
To gain in-depth insight into sales team performance data using a CRM system, sales managers can:
- Assess some of the most effective pre-defined Key Performance Indicators (KPIs).
- Refer and study the teams’ performance in past sales events and funnels.
- Evaluate the conversion and engagement rates of leads and opportunities based on their position in the sales funnel, both individually and in teams.
2. Generate sales performance reports:
The CRM provides splendid features that enable Real Estate Developers to generate in-depth sales reports inclusive of helpful performance metrics like conversion rates, engagement rates, closing rates, average deal or purchase value, sales by contact method, and much more.
Sales performance reports give sales managers a thorough picture of their reps’ effectiveness at each stage of the sales process enabling them to make intelligent decisions to improvise the sales pipeline and strategise scalable sales processes.
3. Performance Tracking:
CRM Software comes equipped with powerful tools needed to track and assess the sales representatives’ performance. With an effective CRM solution, sales managers can readily track-
- The number of calls or appointment attempts made by the representatives to engage with the leads,
- How often do they follow up with leads and customers,
- Various forms of communication used for engagement with le and clients like emails, calls, appointments, etc.,
- Which stage they are in the sales cycle,
- Their conversion rate record while handling leads and opportunities,
- The time they require to close a deal and the time they keep the assigned leads engaged and logged into the system, and much more.
Sell.Do is an integrated Real Estate CRM Software that maintains track of the sales performances of both individual employees and teams and produces the analytics needed to take imminent corrective actions and optimise as many processes as possible. Additionally, its metrics aid sales forecasting and lead targeting, allowing for a comprehensive Real Estate Lead Management System. Have a look at some of the key features that will enable effective Real Estate performance management.
1. Sales performance measurement:
This feature helps sales team members observe and analyse their performances. Using this feature, managers can:
- Set clear targets for their sales team within the system. This ensures visibility and keeps employees motivated and regulated towards their target.
- Measure and analyse Target vs Achieved Performance through customised dashboards.
- Track daily calling performance based on the number of calls made, call outcomes, site visits scheduled, number of follow-ups and more; using call analytics.
- Generate sales forecasting reports based on past data.
2. Territory management:
Realtors can manage and track their sales personnel throughout their regions of operation. It is an easy-to-setup system that ensures access control & reporting for the entire sales hierarchy for both India-wide and global firms. It comes with automated data & reporting access for hierarchy capability to generate aggregated and individual performance reports.
Furthermore, realtors could track territory performance as the CRM lets them bring territory-level reporting online for automated reports consisting of team performance, revenue, inventory and other aspects.
3. In-depth campaign performance analysis:
With Sell.Do one can easily track the performance of their marketing campaigns. The CRM lets realtors:
- Generate Target vs Achieved Reports for marketing campaigns to gather information about customer behaviour.
- Measure Cost Across the Funnel, From CPL to Cost per SV to Cost per Booking to keep track of the impact of marketing tactics on the sales.
- Measure digital campaign performance in real-time with connected data from Google & Facebook to analyse the contribution of different digital marketing campaigns in sales performance.
4. GPS-enabled real estate field force performance tracking:
With GPS-enabled features that track daily reporting, site visit completion, journey routes, and travel time, among other data, businesses can keep their staff on track and curb dishonest practices.
Sell.Do is the ultimate solution for Real Estate businesses that want to function smoothly and realise their professional ambitions.