If you have been researching the many advantages of a new real estate CRM, you may be eager to implement the use of this technological tool as soon as possible. However, the one thing that may be holding you back is funding. Many real estate agents struggle for the first few years, and you understandably may be barely making enough money to consistently pay your personal bills and required professional expenses. Investing in a seemingly unnecessary technological tool like a CRM may seem like a great day, but it may also seem financially impractical. These four easy steps may help you to locate the money that you need to make this important investment.
1. Reduce Personal Expenses
Because real estate agents are independent contractors, their personal lifestyle is directly hinged on the income that they produce. You may be one of many real estate agents who take money from profits to pay for your lifestyle first. Any remaining money is invested back into your business activities. If this is the case for you, simply trimming back on your personal expenses for a few months may free up the money that is needed to buy a new real estate CRM.
2. Decrease Professional Spending
There may also be ways to reduce professional expenses for a short period of time. For example, if you use pay-per-click advertising, you can scale this back slightly for a few months. Keep in mind that any regular savings that you find in your personal and professional expenses may continue to benefit you after you purchase the CRM. For example, this extra money could be used to increase marketing after you begin using your new CRM.
3. Save Over the Course of Several Months
While it may be nice to start using a real estate CRM immediately, buying the program now may not be feasible. Be patient, and make slow, steady progress to save for this purchase. It is better to begin using a CRM in a few months than to never access its benefits at all.
4. Use a Portion of Your Marketing Budget
A CRM is a marketing tool, so it makes sense to pay for it at least partially from your marketing budget. You have complete control over how you spend the money that has been allocated to marketing. It is not wise to completely stop marketing for a month or two while you pay for a CRM, and this is because marketing generates leads and drives sales. However, you may be able to scale back slightly so that you can save the money needed to buy a CRM. Remember that there may be a monthly usage fee in addition to the up-front cost to buy the program.
Paying for a new CRM is one of the most significant hurdles that real estate agents may have when it comes to adopting and using this technology. If you are eager to put a CRM to use, apply these steps to your efforts to save for this expense.
