A large factor in a successful real estate investing business is establishing and streamlining certain processes. A real estate investing CRM, or customer relationship management system, is one way investors can improve the managerial aspect of their investing business. This article compares the top real estate investing CRM systems sharing what the system offers and who each program is ideal for, making the process of choosing the right CRM for you that much easier.
What is a CRM system?
A CRM system is an online, web-based project management software that helps business owners with lead management, store contact information, task automation, schedule events or calls, and assign to-dos relating to a specific project or property. In the real estate industry, CRM software can be used to organize information from a direct mail campaign or recent marketing effort; capture lead contact information; or manage rental or investment properties, rehabs, and more.
While the function, look, and feel of each CRM system will vary in general, a CRM should provide the user with a variety of helpful abilities:
- Assist with lead generation or organize lead sources (such as a direct-mail campaign list).
- Contact management.
- Schedule calls or meetings (linking to your calendar program of choice).
- Help automate certain tasks in the sales pipeline, marketing campaign, or project management process.
- Create and assign tasks to be due on certain dates or completed by specific users.
- Share or assign documents to specific projects, emails, or contacts (including electronic signatures).
- Organize, receive, and send emails from the software program itself.
- Integrate with common apps and programs.
Who is a CRM system right for?
CRMs were originally designed to help sales associates convert prospective leads into clients or sales. While you certainly can invest in real estate without using a CRM, as your real estate company grows and scales, eventually you will need some type of database or program to help you stay organized. I invested for nearly two years before investing in a monthly online CRM. I knew it was the right time for my business when I started to notice certain tasks, prospective clients, contact information, and to-dos slip through the cracks or get misplaced.
The top real estate investing CRM systems
There really isn't one perfect CRM platform. Because there are so many different ways to invest, your needs for a CRM solution will vary. Below are the top CRM tools available for real estate investors that serve various types of real estate investing niches.
InfusionSoft by Keap
InfusionSoft, now rebranded as Keap, is one of the longest-running CRM systems in existence and offers all the bells and whistles you could want out of a CRM. You can create customized sequences for your real estate business needs, allowing you to create a personalized workflow, in addition to basic CRM tasks like store contacting or lead information and integrating with dozens of email, website, calendar, or appointment-setting apps.
Cost: $80 - $200 per month, with discounted pricing for your first two months. Certain features are only available in the higher-priced tiers, making the basic option great for those who simply need an organizational program.
Pipedrive works similar to other CRMs, allowing customized workflow, automated tasks, triggered events, follow-up reminders, and basic CRM integration tools. I personally use Pipedrive to manage my note-investing business because I like the flexibility to customize my workflow and available integrations for the cost.
Cost: $12.50 - $50 per month with promotion to try for free. Certain features are only available in the higher priced tiers.
Syndication Pro is a real estate CRM solution designed specifically for real estate investors who are raising capital for a real estate investment syndication. The tool provides them with a landing page that can be adjusted to fit their company branding while remaining compliant with SEC as you connect, vet, and build an investor relationship. This program is less of a project management tool and more of a relationship management tool.
Cost: $95 per month to $500 with promotion to try for free. Certain features are only available in the higher-priced tiers.
Copper is a popular CRM tool for a real estate agent or broker but can be just as helpful for real estate investors, especially those who use Google Suite (NASDAQ: GOOGL), such as Gmail, Google Calendar, Google Sheets, Google Drive, Google Docs, or Google Slides. Just like Pipedrive and Keap, you can customize your pipeline, automate tasks and reminders, and integrate with several common email, calendar, and even electronic-signature companies.
Cost: $19 - $119 per user month. Certain features are only available in the higher priced tiers.
Carrot is designed for real estate professionals, providing them with not only a CRM to manage and nurture leads, but also landing pages and websites to capture leads. Designing a website is super simple with a front-end editor and sample text to use, making it a great way to create and track your website. Carrot is far less customizable in comparison to other CRM programs but can be a great plug-and-play option for wholesalers or investors who want to track and monitor their marketing efforts from various campaigns, including direct mail or paid online marketing.
Cost: $49 - $199 per user month. Most features of CRM and website are included across all tiers, number of sites, or link-tracking services in addition to support increases with cost.
It's important to note that while some of these CRM tools are designed for use in real estate, almost all will require customization. Every investor has a different technique for management of their projects and will have different tasks to assign, timelines for follow up, and more. Choose a CRM tool based on the features it offers, your budget, and ease of use. CRM tools can be costly, so before diving in and taking the time to establish a pipeline that works for your business, make sure the service it provides is worth the cost and effort to establish.
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