What is Contact Management and Why You Need a Real Estate CRM system

In my past couple of posts I focused on the importance of effective contact management – the WHY.  In my next few posts I’m going to focus on the WHAT.  What you need to know, and more importantly, what you need to DO in order to mine the potential income (the “gold”) trapped your contacts database and real estate CRM system.

But first, let’s make sure we all understand what we mean by the term “contact management”, also often referred to as CRM (for Customer Relationship Management)?  Contrary to popular belief, contact management is NOT a list of names, addresses and phone numbers, a list of unqualified leads from your Website, or a computer program.

Instead, contact management is the process of collecting relevant information on your contacts over time, storing that information in a safe and organized manner, and then searching and filtering that information for insight into your business, and to drive more relevant, personalized and timelier communications. In order to faciliate this, you need a good real estate CRM system.

Contact management is as much an attitude and an approach to doing business as it is a technology (real estate CRM) or software application.  If you practice effective contact management, you will develop better and better relationships with clients and prospects which will lead to an ever-increasing volume of referrals and repeat business.

In my next post I’ll dig into the “nitty gritty” about exactly HOW TO DO IT!