A contact and property database should be an integral, seamless part of the work brokers and other CRE professionals do every day, not just an additional responsibility to maintain.
That’s why it’s time to change the conversation around CRMs for commercial real estate.
A database that adds to a brokerage team’s working experience, not workload, is possible. Here’s how:
A broker’s database is a library of their expertise, and that library should help them run their business more effectively.
So far, a common challenge with CRMs for the CRE industry has been the question of who the database works for. While some firms prefer to use one shared database, that doesn’t always work for every brokerage. Brokers often want to protect the data they’ve collected and the relationships they’ve built over their careers.
Many brokers also believe a database should help them accumulate and revisit key insights into their own business and prospect more effectively. So, to be most useful for brokers, databases for CRE should not only keep track of property and contact data, but give brokers the opportunity to
A database should live at the center of a deal’s lifecycle, connecting important information to every other phase. That’s because property and contact data is more than just information. Property and contact research moves with a broker and brokerage throughout the day—and a broker’s entire career—serving every aspect of their work.
A broker’s deal data directly informs property marketing and brokerage back-office tasks, so the database they use should connect to those tools as well. If it doesn’t, a separate CRM is burdensome to use.
When a database can seamlessly share data with a marketing team and vice versa, not only does it save time for marketers and brokers, but it means brokers can easily add marketing leads back to the database. Then, they can quickly and easily make connections with buyers.
And when accountants and back-office teams can access data directly from a broker’s deal information, the back office saves time calculating payments.
Traditional CRM platforms built for sales teams in other industries simply don’t operate the way CRE professionals need them to. So why should a CRE database use one of those platforms as a model?
Buildout’s suite of features, including its database, wasn’t built on top of existing CRM platforms or without software expertise. It was custom-built by tech developers who understand the industry.
This is what makes our database unique:
With Buildout Elite, brokers have an option to add on a private database—instead of creating shadow systems—to maintain their information in a way that works for them alongside their master company database. That personal connection only links to the company’s system when needed for marketing material creation, billing, or property comps.
If brokers choose to buy private databases, we’ve made sure there’s a clear line separating that broker database from its associated brokerage. A broker’s research and prospecting data can only be viewed and edited by collaborators they invite.
But privacy isn’t the only thing that makes Buildout’s database special. We’ve also developed a way for brokers to keep their information secure while staying connected with the rest of their team.
Once you’re ready to create a proposal or take a listing to market, property information from your database can be easily transferred and accessed in the rest of the app. Then, marketers can quickly create all documents and digital materials in the brokerage’s brand standards.
Every time a new property lead comes through the website or an email, the listing broker can add that contact to their database, or associate it with an existing contact. This direct connection between database and marketing lets brokers immediately identify the best opportunities and pursue the right buyers.
Finally, when a listing is closed, the comp data is saved in the company database, and the sales information is automatically shared with the brokerage’s back-office staff for billing and commission payouts.
Because all of these tools are built on one platform, there is a seamless working experience through the entire deal cycle. And that means everyone at a brokerage’s time is well spent.
At Buildout, we wanted to make sure brokers’ and brokerages’ databases work for them.
Talk to our sales team to learn more about how our database works within our suite of features, including marketing and back office, and how you can get started using it at your brokerage.