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Are you wondering if it’s time to upgrade your existing customer relationship management (CRM) and if those fancy new features are really worth the added expense?
It very well could be time to make a change, but before you do, get real estate expert Michael Hellickson’s take on today’s CRM solutions.
Hellickson knows that selecting the right CRM isn’t easy for most agents. A lot of what they should use depends on the other technology they rely on. But more importantly, it has to do with where they’re at with their business.
Read on and discover which CRM solution is best suited to meet your current production numbers. For additional advice on real estate CRM software and tips on boosting your business’ profitability, listen to the podcast with Hellickson below.
Production tiers for real estate agents
As mentioned above, Hellickson’s CRM suggestions are dependent on agents’ production numbers.
Hellickson places agents in tiers based on the number of transactions they complete annually. Here are the tiers and each of their respective production numbers:
- Tier 1: 0-25 transactions per year
- Tier 2: 25-75 transactions per year
- Tier 3: 75-150 transactions per year
- Tier 4: 150-250 transactions per year
- Tier 5: 250-500 transactions per year
- Tier 6: 500-1000 transactions per year
- Tier 7: 1,000+ transactions per year
CRM’s for low-tier agents
Most tier 1 agents just need the basics — something to compile contacts, set follow-up dates and automate emails.
These basic functions are available in nearly every CRM on the market, leaving price and ease of use as deciding factors.
The standout products for tier 1 agents, according to Hellickson, are Wise Agent and LionDesk. At $29 per month and $25 per month respectively, both are affordable options for agents with low production numbers.
CRM’s for mid-tier agents
However, because Commissions Inc. is more complicated to work with, he suggests agents opt for Firepoint unless they’re somewhat tech savvy.
Another good (and popular) option for tech-savvy agents between tiers 2 and 5 is BoomTown. Like Commissions Inc., it’s somewhat complex but can be incredibly powerful in the hands of someone who knows the system well.
CRM’s for top-tier agents
So what does Hellickson recommend to high-producing agents, those in tiers 6 and 7?
Well, he was somewhat apprehensive to say; the reason being that he constantly sees agents buying ahead of where their business really is, a practice that cuts into their profits without any tangible benefits.
Having said that, if you’re legitimately a tier 6 or tier 7 agent, Hellickson recommends Infusionsoft.
With everything agents need (and then some) plus an insane amount of customizability, Infusionsoft is a CRM solution that has the power to provide unrivaled control over your database’s organization, follow-up automation and more.
Advice on selecting a team’s real estate CRM
What about CRM solutions for real estate teams?
Well, any of the above CRM solutions could work for a real estate team, but there are a few things team leads need to keep in mind.
Firstly, the CRM solution they choose should be one that they’re able to teach agents to use. In other words, it should be one that the team lead has already mastered.
Secondly, the agents should find the CRM easy to use. For this reason, complex CRMs like Commissions Inc. and Infusionsoft might not be the best options for real estate teams.
Finally, teams shouldn’t switch between CRMs unless absolutely necessary. Changing CRMs can be chaotic, and doing so frequently won’t just cost a team clients; it’ll cost them agents as well.
For more suggestions on selecting the right real estate CRM and tips on maximizing your business’ profitability, listen to my podcast interview with Michael Hellickson.
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.