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Real Estate Software/ Technology: What to Invest In

June 19 2013

ixact tech investA common question many REALTORSĀ® grapple with is which real estate software / technology tools to invest in and which ones to, well, leave on the sidelines.

Technology perhaps hasn't been a focal component of your business and you may not be very tech savvy. But you know that social media and real estate software, such as real estate CRMs, have emerged and have proven themselves vital to running a business in a competitive marketplace.

Important tools for your business can include a social media management dashboard, such as HootsuiteHootsuite, a digital document signature service, such a DocuSign, a blog, a powerful IDX, and/ or a tablet, such as an iPad.

However, one of the most important pieces of technology for an agent is a real estate CRM. There are ones that are easy to learn and use and offer many benefits to help you stay organized and "top of mind" with your contacts. For example, you can send a professionally designed and written monthly e-Newsletter, nurture your leads with customized drip marketing campaigns, and manage your listings and all the associated "to-dos," easily and simply.

But of everything that's out there, how do you know which tools to invest in?

Which real estate software should you invest in?

Here's what we suggest: narrow down your list down to a handful of systems/ tools that you think would get you the most results for the time and money you spend on them. Return on investment (ROI) is key. And it's not just the monetary investment you have to think about, it's your time as well. Ask around and do some research online.

(RET editor's note: Start your research with our 2013 Technology Guide2013 Technology Guide!)

Study your shortlist in detail and decide which tools you think would be the easiest to understand and work with. Pick one system that offers a free trial and watch what kind of results you get. Results can be anything from a new lead to a new listing to a greater awareness of who you are in your community.

If you're not asking your leads and clients the question, "How did you hear about me?" you may want to start so you can get a sense of where your business is coming from.

Now, going back to ROI, think about the return on investment for something like a real estate CRM.

You pay about $35 a month. A real estate CRM comes with many benefits, including the ability to easily keep in touch with past clients, organize and streamline your business, keep track of the communication history with your contacts, nurture your leads, and more. You get a lot of "bang for your buck."

Try to conduct an ROI/ cost-benefit analysis for each technology you're considering.

It's also a good idea to do an inventory of what you're currently spending your time and money on and then determine from there what to cut back on and what to invest more in, based on results.

Your willingness to take a deep dive and embrace technology is critical. While it can be intimidating, you'll find that with practice, it'll come naturally. Nearly all top real estate trainers and successful broker/owners agree that technology will play an increasingly greater role in the job of an agent. It's up to you to take advantage of it, stay competitive, and continue to build successful referrals and repeat business.

To view the original article, visit the IXACT Contact blogIXACT Contact blog.

Other articles of interest: AgentOffice | MLSFinder.com