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WHAT IT IS

A contact management system is a software or Web-based program that records details of your customer relationships, business transactions, and business tasks. You can sort and search business contacts and quickly scan histories of your interactions with customers. These systems also integrate calendar and scheduling functions, e-mail, and other database operations.

DO YOU NEED IT? 

As a real estate professional, you must keep track of a lot of information about prospects, clients, and past clients. Timely communication and follow-up is key. You also must juggle tasks related to your listings, appointments, and marketing campaigns. A contact management system can help you keep track of all that information in an accessible and searchable format. Once you decide to use one, the next question becomes whether you'll be better served with a generic contact manager or one developed specifically for the real estate industry; one installed on your PC or one offered as a Web-based application. 

Learn More: How Others are Using It ׀  Product Photo Gallery  ׀  Shopping Glossary

Products for Your Budget: Budget Buyer ׀  Mid-Range Buyer ׀  High-end Buyer

SPECS THAT MATTER

The biggest challenge of using a contact management system is getting started: inputting your data and building the database. Therefore, consider the following:

1. Ease of use. How comfortable are you with the overall design of the software, its user interface, and the tools it provides for searching, sorting, and acting on your information? Most publishers provide a trial version or grace period so you can sample the product before buying.

2. Format preference. You have three choices: generic software, which you can adapt to how you want your data organized; real estate-specific software that is already formatted for tracking information on leads, clients, and listings; and Web-based solutions that store your data online for instant access anywhere and anytime using a standard Web browser. The trend is definitely moving toward online applications.

3. Data entry. The heart of every contact management system is its database. Data entry, as well as presentation on screen and in printouts, should be straightforward. You should be able to customize your records to some degree. Since real estate requires so many specific details about people and property, a solution already set up to capture this data will be a time saver. Easy import of information from other sources, such as the MLS, can be especially convenient.

4. The extras. The richer you can make your database, the more valuable it becomes. Therefore, the ability to attach notes of conversations, photos, and planned follow-ups with your contacts are very important. An integrated calendar and scheduling module to prompt you when to call, what to do, or automatically launch an e-mail, ensures no opportunity or responsibility is missed.       

Mining your database will give you invaluable insights into your real estate career and help you track your success. By using pre-formatted or customizable report functions, you’ll learn the average time from your first contact through closing, you'll be able to draw a profile of your typical client, and you'll be able to quickly identify who your most reliable sources of referrals are.

Learn More: How Others are Using It ׀  Product Photo Gallery  ׀  Shopping Glossary

Products for Your Budget: Budget Buyer ׀  Mid-Range Buyer ׀  High-end Buyer