Contactually's Take on WAV Group's 2019 CRM Effectiveness Study

Technology Drives Agent Success

Agents know websites and online leads are necessary to increase the sales funnel, yet it's the CRM that accelerates productivity. Sixty percent of brokers now provide a CRM to their agents for just this reason — and 90 percent of brokers who offer a CRM say their agents understand that CRMs strengthen relationships.

Brokers view CRMs as one of the tools that generate the most ROI (along with social media, transaction management, and open house management).

The Impact of Stand-Alone CRMs

Stand-alone CRMs might not be the type most commonly offered to agents (about one-third of brokers provide a stand-alone; nearly twice as many provide a CRM that accompanies a website/lead gen, email marketing/automation, or online advertising software), but brokers who offer a stand-alone say their agents are more productive (62 percent v. 54 percent), more satisfied (62 percent v. 51 percent), and most importantly, generate good return on the investment (46 percent v. 36 percent).

Providing Multiple Tools Growing in Popularity

Larger brokerages (especially those with 100+ agents) are now more likely to offer multiple types of CRMs (standalone and other types) — 54 percent do this.

Why would a broker contract with multiple platforms? Because agents have different needs, different levels of tech savviness, and different expectations from using a CRM.

But, ultimately, brokers want to provide the best tech suite to attract and retain the highest performing agents. Offering multiple CRMs mitigates risk in tech selection, but also requires a larger investment. Brokers going down this route are prepared to spend more on CRM in the coming year.

Final Take

While all-in-one CRMs may appear to be robust (and yes, they do cover multiple business functions across the sales funnel), they are also perceived as more overwhelming to use and too generic in functionality. All-in-ones do a little bit of everything, and just OK — but they are also inflexible, offer inconsistency in the quality of features, and have inconsistent adoption across feature sets.

With a best-in-breed strategy, brokers select the optimal CRM and strongest integration partners, resulting in a tech stack that is portable, interchangeable, and most importantly, nurtures relationships without treating clients like transactions.

Read the entire WAV Group report here.

To view the original article, visit the Contactually blog.