What types of software applications do commercial real estate brokers use in the absence of an all-encompassing CRM system?
The commercial real estate brokerage that I will likely be joining currently has a custom built CRM system--built on top of Microsoft Dynamics--that nobody uses. Instead they all use mostly excel. Given that the brokers in this office are generally in their 40's-60's, I'm sure they are not fully availing themselves of some of the many quality productivity--real estate related or otherwise--software applications out there.
As such, for all of the past or present CRE associates/brokers out there, what are some of the various technology stacks you utilize? Thanks
I have excel, a whiteboard, a memory, and google maps. Seems to work out. When you're new, it seems like it's a lot to do and remember and etc. Once your brain develops a framework for your daily tasks and starts to store the knowledge more effectively, it gets easier. Honestly, anyone worth me calling(clients, other brokers, grandma) is programmed into my phone, and if not I haven't gotten to it yet and it's on the pad I keep next to me because i just wrote the fucker down. If I have someone with a deadline or a specific callback window I just set a reminder in my outlook calendar. Anything pressing and currently hot goes on the whiteboard so I can have an easy visual track of where we are. First thing I do in the morning is update the whiteboard and plan my day out.
I tried a bunch of CRM suites, even had a post here asking about it a while back, but really, it's not as complicated as some try to make it. But, I do retail, mostly tenant rep leasing. Office is going to be a different animal, so is industrial, so is multifamily.
Yep. That's basically where I'm at. I don't have 200 clients. I have a few dozen. Some fall off, move, etc. The only deals I've missed out, and I have missed out on deals was by not being in the ear of already existing clients. I didn't need a reminder to call them. I knew I should have and didn't. In the back of my head "oh they know where to find me." Well, they do, but if another broker brings them, for example, a refi opportunity, they're going to work with that broker if they feel the terms are fair.
My own lack of action (I don't think an electronic reminder would have helped) has cost me about $70k to $90k in 6mo. With that being said, if I got all the deals from all my clients, life in brokerage would be too easy and I'd be retired in the next 10 years.
Edit - The value of writing down your tasks for the next day to me is key. Who to call, even down to doing your laundry. Your brain gets busy during the day. At night keep a note pad by you and write down all tasks no matter how small.
Yeah, sometimes the right guy calls your client at the right time, and it's not you. Happens, unfortunately. But you're right, I've got 5-10 hot clients at any one time where we're actively working a deal, then another similar amount that are either just finalized or and I need to follow up for store number 2 in a few months or are just testing the waters, so to speak. It's really not THAT much to keep a handle on. We certainly aren't in the rocket science business.
Writing your tasks on a notepad is a good idea, I just send myself emails though. I'll be eating dinner or sitting on the couch with my wife or whatever and a thought occurs. I probably have 10 messages from myself every morning, but it's things that I'd otherwise forget. Or reminders to call my clients so I'm not losing $70-90k in six months ;)
I used Excel when I did it. Very easy to add specifics (SF, Expiration Date, etc.) and take notes. Then put any reminders into Outlook.
We use salesforce, but excel is a good enough alternative as described above if you have a small client/contact list.
REA is what I've used for a few years now. I've gotten used to the interface and it works very well for what I do.
I think Bitrix24, Propertybase and Placester is best option to real estate industry. You can help to choose right software for your industry. I recommend SoftwareSuggest. They help to choose better option for any business.
To all the CRE brokers, how useful of a service is LexisNexis? (Originally Posted: 04/22/2017)
I'm looking for a service that will enable me to get phone numbers--either cell phone or work numbers--of Landlords. Our company has demoed LexisNexis but decided to go with LandVision. However, from what I understand, LandVision doesn't typically provide accurate phone numbers.
So my question is--is it worth it for me to get a LexisNexis subscription on my own or are there other services I should consider?
Thanks
I would recommend giving AlexisTexas a shot.
Bump.
Also, aside from purchasing a LexisNexis subscription, who would be the right people to reach out to to ask for access to their accounts? Is this something that is primarily used by CRE Brokers? Would anyone I know in the legal field have access to this?
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