Efficient client handling, property search, and transaction handling are the essence of success in real estate. A very important tool that always eases this whole process is a customer relationship Management (CRM) system. Hence, CRMs help you organize your client’s interactions to be more productive in work.

As such, a real estate firm faces a tough choice between getting a specifically customized solution for its needs or buying a ready-to-go Software as a Service (SaaS) solution available over the net regarding choosing a CRM for that firm.

This is going to be an upfront analysis of both sides. There are pluses and minus points attached to learning about the custom-built CRM and SaaS solutions, which should enable you to expect which one to be more appropriate to your real estate business. The difference can be very significant whether you’re an agent, broker, or business owner, which could help make or break your business.

Understanding the Two Approaches

To begin the comparison between custom CRM development and SaaS solutions, let’s first look at what each involves:.

•  Custom CRM Development: This is building a CRM system from scratch according to your business’s needs and workflows. Usually, a custom CRM is developed by an in-house development team or a third-party software development company like GoAccelerix that specializes in the creation of bespoke solutions for real estate businesses.
• SaaS CRM Solutions: The SaaS CRM systems are the pre-built software solutions offered on a subscription basis as a service. These are usually cloud-based and can be accessed from any location. Among the popular SaaS CRM platforms are Salesforce, HubSpot, and Zoho CRM. Popular SaaS CRM platforms include Salesforce, HubSpot, and Zoho CRM.

The Pros of Custom CRM Development

1.      Tailored to Your Business Needs

A custom CRM is built specifically around your real estate business’s unique requirements. From personalized dashboards to bespoke workflows, a custom CRM can streamline processes like property management, client tracking, and lead generation in ways that off-the-shelf solutions simply can’t match. This level of customization can boost efficiency, enhance the customer experience, and ensure you’re operating at your best..

2.      Scalable and Flexible

As your business expands, so do your needs for the CRM. The scaling of the CRM to suit more users, properties, and clients would be much easier with a custom-built solution. A SaaS CRM will always restrict you by features or functionality that is being offered, whereas a custom CRM solution is built to grow with you, and according to requirements, it can be modified or extended.

3.      Full Control Over Features and Security

With a customized CRM, you are in charge of what functionalities you wish to include. From advanced reporting capabilities to an integrated property management system or AI-based chatbots, your CRM will be able to integrate those critical tools you find important to your business. Additionally, you can control security measures, making sure that the most sensitive information pertaining to clients is protected in line with your company’s standards.

4.      Branding and User Experience

A custom CRM can be designed exactly as per the requirements of your brand. The UI and the UX can be completely customized to give a seamless, branded experience that is fully in line with your business values and truly boosts client interactions. This is something you might not have when using an out-of-the-box SaaS platform.

The Disadvantages of Custom CRM Development

1.      Higher Initial Costs

The initial cost is one of the biggest drawbacks to custom CRM development; building a CRM from scratch can be expensive, and you might end up paying good money if you hire a good development company to make sure the solution is robust and scalable. To that cost, add maintenance, updates, and possibly hiring internal resources to manage the system.

2.      Longer Development Time

Custom CRM systems take time to build, test, and deploy. Depending on the complexity of your requirements, it could take several months or even a year before the CRM is fully operational. This longer timeline could delay the benefits that you’re hoping to realize from the new system.

3.      Ongoing Maintenance and Support

Contrasted to SaaS solutions, the former would automatically have ongoing support and updates integrated. Customized CRM will continue to require more maintenance, placing an extra load on small to medium-sized enterprises. A whole team or the services of a trusted third party must be found to handle complaints, updates, and performance.

The Advantages of SaaS CRM Solutions

1.      Lower Upfront Costs

SaaS CRM solutions usually have lower upfront costs than custom development. Most SaaS CRMs operate on a subscription model, meaning you can access a range of powerful features for a relatively low monthly fee. This makes SaaS CRMs an attractive option for real estate businesses with limited budgets.

2.      Quick Deployment

SaaS CRM solutions are often cloud-based and ready to be used almost instantly. You need little or no setup to get started, allowing you to get up and running in a matter of days and start experiencing the benefits of streamlined customer relationship management.

3.      Reliability and Support

SaaS CRM providers update regularly and use bug fixes and provide dedicated customer support. There is nothing you will need to do for the software except maintain and troubleshoot it, but owing to a large user base, these platforms have lots of resources, tutorials, and forums to help you better use the system.

4.      Cutting-edge Features

Many SaaS CRMs have advanced features, including AI-driven analytics, automation, and integration with other third-party tools. Subscribing to a SaaS CRM gives you access to these innovations without the expense of in-house development.

The Disadvantages of SaaS CRM Solutions

·        Limited Customization

While SaaS CRM platforms are customizable to a certain extent, they are developed for various industries and businesses. Real estate-specific needs may not be met to the fullest extent. You might have to compromise on some features or workflows, which could negatively affect efficiency.

·        Subscription Fees

Though the initial cost is low, the SaaS CRM systems come with a subscription fee. The more your business scales, the higher the costs that are incurred. You may realize that you pay more in the long run if you had opted for a custom-built CRM.

·        Data Privacy Concerns

When using a SaaS CRM, your data is stored on the provider’s servers, which may raise some security and privacy issues. Even though most SaaS providers spend heavily on security, you do not have full control over where and how your data is being stored. This is especially scary in industries such as real estate, where the data of the clients is highly sensitive.

Making the Right Choice for Your Real Estate Business

In choosing between a custom CRM and a SaaS CRM for your real estate business, several considerations are essential.

• Budget: In the short term, a SaaS CRM is more budget-friendly. If you have the means to invest in a custom solution, it will offer long-term benefits that can offset the costs of implementing the system.
• Business Size and Growth Potential: For large real estate agencies or businesses with ambitions to grow in size, a custom CRM is scalable and flexible and may outperform a SaaS CRM in terms of ability to scale up. However, for smaller businesses or startups, a SaaS solution may present the right balance of functionality and cost.
• Customization Needs: If the real estate business has specific processes, a custom CRM can be designed to fulfill those needs. SaaS CRMs are standardized, and if there are very specific requirements, then there would be a lot of workarounds needed.
• Timeframe: If you want a CRM solution up and running quickly, a SaaS CRM is the way to go. However, if you have the time and resources to wait for a more tailored solution, a custom CRM might be a better long-term investment.

Conclusion

In the custom CRM vs. SaaS CRM battle, no size fits all. The decision entirely depends on your business’s size, budget, and special needs. Custom-built CRM has more personalization and flexibility as opposed to the SaaS one. However, with that level of personalization comes higher costs and longer development time. Conversely, SaaS CRM offers a very affordable option and quick-to-deploy solution with less room for customization.

At GoAccelerix, we assist real estate business houses in formulating bespoke CRM systems that perfectly fit their particular needs. And if you’re ready to step up your optimization game for the real estate operation, we could help you walk through the appropriate CRM development methodology.

Reach us today to understand how we might help streamline the real estate business and improve relations with clients via the right CRM solution.