Best CRM for brokers

As a broker, whether in real estate, finance, or insurance, managing a high volume of clients, deals, and transactions is a daily challenge. To stay organized and ensure that every client interaction is tracked and optimized, you need a CRM system designed for your specific needs.
Having the right CRM in your tech stack can help you manage your client relationships, automate follow-ups, streamline communication, and keep track of your sales pipeline—all in one place.
In this blog post, we'll explore the best CRM options for brokers like you, focusing on features that help you boost efficiency, improve client satisfaction, and close more deals.

Why you need a CRM

A CRM is indispensable for a broker looking to streamline operations and maximizing broker performance.

Challenges without a CRM

Below are common challenges a brokerage firm faces when managing brokers without a CRM.

• Disorganization: Without a CRM, information is scattered across spreadsheets and emails, leading to confusion and inefficiency.
• Missed opportunities: Brokers may miss follow-ups or fail to capitalize on leads due to lack of a systematic approach.
• Inefficient processes: Manual data entry and tracking consume valuable time that could be spent on client interactions.
• Lack of insight: Without centralized data, it’s hard to gain actionable insights into broker performance and client needs.
• Inconsistent communication: Communication with clients and among brokers can become fragmented, affecting relationship management.

Benefits of a CRM

Wondering whether or not it's worthwhile to invest in a CRM? Below are a few direct benefits the right CRM can have for your bokerage.

• Centralized information: A CRM consolidates all client and broker data in one place, making it easily accessible and manageable.
• Enhanced efficiency: Automated processes reduce manual tasks, allowing brokers to focus on high-value activities.
• Improved customer relationships: With detailed client histories, brokers can personalize interactions and build stronger relationships.
• Better decision-making: Analytics and reporting tools provide insights that help in making informed business decisions.
• Increased sales: Streamlined processes and better lead management directly contribute to higher conversion rates and sales.
• Consistent communication: Integrated communication tools ensure that all client interactions are tracked and managed effectively.
  

How to boost your brokers' efficiency with a CRM

1. Mapping your process

Start by using a CRM to map out your process so that you can fully customize it to suit your needs.

• Identify key stages: Break down your brokerage process into clear stages such as lead generation, client onboarding, deal negotiation, and closing.
• Set milestones: Define specific milestones within each stage to track progress and performance.
• Automate workflows: Use CRM automation features to move clients through stages seamlessly, reducing manual work and errors.
• Monitor metrics: Implement dashboards and reporting tools to keep an eye on key performance indicators (KPIs) for each stage.

2. Lead qualification

You can also use your CRM to qualify leads in a more efficient way.

• Scoring models: Use CRM scoring models to rank leads based on criteria like engagement, financial capacity, and readiness to invest.
• Custom fields: Create custom fields to capture essential details about leads, helping brokers to quickly assess their potential.
• Automated segmentation: Segment your leads automatically based on their scores and characteristics, ensuring personalized follow-ups.
• Integration with data sources: Integrate your CRM with external data sources for enriched lead profiles and better qualification.

3. Outreach and follow-up

A CRM can also help you automate the manual process of outreach and follow up sequences.

• Email drip campaigns: Set up automated email sequences to nurture leads over time, providing valuable information and offers.
• LinkedIn outreach: Use CRM tools to automate LinkedIn connection requests and follow-up messages, expanding your network effortlessly.
• Personalized templates: Create and save personalized email and message templates for quick and consistent communication.
• Follow-up reminders: Set automated reminders for brokers to follow up with leads at the optimal times, ensuring no opportunities are missed.

4. Nurture existing leads, investors, customers and investments opportunities

The data in your CRM can also help you strategize for upselling and cross-selling campaigns.

• Targeted campaigns: Use CRM data to create targeted marketing campaigns aimed at existing clients, promoting relevant products and services.
• Client segmentation: Segment your existing clients based on their past interactions and purchase history for more effective upselling.
• Automated recommendations: Implement CRM features that automatically suggest additional services or investments based on client profiles.
• Feedback loops: Regularly gather feedback from clients through CRM-integrated surveys to understand their needs and tailor your offerings.
  

How to evaluate and choose a CRM platform

1. Define your requirements

Identifying the key features needed for your brokerage firm is crucial in selecting the best CRM for brokers. Consider functionalities like lead management, automated follow-ups, integration with MLS systems, and reporting tools. For real estate brokers, features such as property tracking and client communication tools are essential. Insurance brokers might prioritize policy management and client renewal reminders. Tailoring your CRM to your specific needs ensures it supports your business processes efficiently. Start with looking for the following key features.

Key features of a CRM for brokers

• Automated processes: Streamlines tasks by automating repetitive workflows, allowing brokers to focus on high-value activities. This feature is crucial for brokerage firms aiming to scale efficiently.
• Contact enrichment: Automatically finds Leads, Investors, Customers, and Investment opportunities' email addresses and contact information, enhancing efficiency. This reduces manual data entry and ensures brokers have up-to-date information at their fingertips.
• Structured pipeline: Tracks Leads, Investors, Customers, and Investment opportunities through defined stages, ensuring process clarity and effectiveness. A well-structured pipeline helps brokers manage their prospects and clients more effectively, leading to higher conversion rates.
• Mail merge and email sequences: Increases communication efficiency with follow-up templates and automated sequences. This feature ensures timely and consistent communication, which is essential for maintaining client relationships and closing deals.
• Social media integration: Seamlessly imports leads, investors, customers, and investment opportunities from LinkedIn, Instagram, Twitter and more and bring all their contact information within the CRM. This integration helps brokers leverage their professional network and manage interactions more effectively.
• Analytics: Provides essential data analysis and predictive insights for better planning. Brokers can make informed decisions based on real-time data, improving their strategy and performance.

2. Budget considerations

Balancing cost and return on investment is vital when choosing a CRM for brokers. While some platforms offer extensive features, they may come with a higher price tag. Evaluate your budget and consider affordable CRM for brokers that still provide robust functionalities. Look for scalable solutions that can grow with your business, ensuring long-term value without compromising on essential features.

3. Selection process

Researching and choosing the right CRM vendor involves several steps. Start by reading CRM for brokers reviews and asking for recommendations within your industry. Shortlist vendors with a proven track record in serving brokerage firms. Assess their customer support, training resources, and customization options. Engaging with vendors through demos and consultations can provide deeper insights into their offerings.

4. Get a demo

Trial and comparison are key in selecting the top CRM for real estate brokers or other brokerage types. Take advantage of free trials or demo versions to test the CRM’s usability and feature set. Compare different platforms based on user experience, ease of integration, and scalability. Gather feedback from your team to ensure the chosen CRM aligns with their workflows. Making an informed decision will lead to a more effective and efficient brokerage operation. To get a demo of folk, click here.

3 tips for implementing a CRM

1. Import your data in your new CRM

Transitioning to a new CRM can be seamless if you start by importing your existing data. Most CRMs allow you to export your data as a CSV file from your current system.

2. Create your first pipeline

Once your data is imported, the next step is to set up your first pipeline. For brokers, this might involve stages such as Lead Generation, Initial Contact, Property Showing, Offer Negotiation, and Closing. Tailor these stages to reflect your brokerage's workflow, ensuring that each status captures the progress of your deals accurately.

3. Onboard your team

Effective implementation of a CRM requires that your entire team is on board and comfortable using the new system. Conduct training sessions to familiarize them with the CRM's features and best practices. Encourage team members to ask questions and provide feedback to ensure a smooth transition and maximize the CRM's benefits for your brokerage firm.

The 5 best CRMs for brokers

1. folk

folk is a modern CRM platform for managing contacts, workflows, and relationships, offering customizable pipelines, AI-driven tools, and integrations to enhance deal management and prospecting.

Key features

• Contact enrichment: Automatically enriches contact details by finding emails and LinkedIn URLs, enabling efficient outreach without manual data entry or additional costs for email services.
• Social media integration: Seamlessly import contacts from LinkedIn, track conversations within Folk, and use templates for quicker, streamlined communication.
• Email Integration: Full email sync, templates, and tracking features, enabling users to manage all communications directly from the CRM.
• AI-powered features: AI tools assist in managing contacts and relationships, automating routine tasks, and suggesting actions to improve productivity.
• Integrations: Folk integrates seamlessly with over 6,000 apps, including Gmail, Zapier, and Make, allowing users to centralize their workflow and reduce manual data entry.

Pros

• Ease of use: folk is praised for its intuitive interface, making it accessible even to non-technical users with quick onboarding and a minimal learning curve.
• All-in-one: folk streamlines your workflow by allowing you to import contacts from LinkedIn, automatically find their emails, reach out through customizable email sequences, and track interactions in a pipeline, eliminating the need for multiple tools and saving time and money.
• Social media integration: Seamlessly import contacts from LinkedIn, track conversations within Folk, and use templates for quicker, streamlined communication.
• Customizability: Custom fields, pipelines, and workflows.
• Integrations: Folk integrates seamlessly with over 6,000 apps, including Gmail, Zapier, and Make, allowing users to centralize their workflow and reduce manual data entry.

Cons

• Reporting: Currently lacks reporting features, but there are plans for future implementation.

Price and plans

You can try folk for free with a 14-day free trial. After that, a monthly or annual subscription plan is as follows.

• Standard: $20 per user, per month,
• Premium: $40 per user, per month,
• Custom: Starts from $60 per user, per month.

2. HubSpot

HubSpot CRM is a user-friendly, scalable platform offering integrated tools for managing sales, marketing, customer service, and operations efficiently.

Key features

• Sales Hub: Provides deal tracking, pipeline management, sales automation, and reporting, which are crucial for brokers managing multiple leads, investors, and investment opportunities.
• Marketing Hub: Includes email marketing, ad tracking, landing pages, and lead generation tools to help brokers attract and nurture potential clients.
• Lead scoring: Prioritize leads with predictive scoring to improve sales efficiency and ensure brokers focus on high-potential opportunities.
• Service Hub: Offers customer service tools like ticketing, live chat, and knowledge bases to enhance client satisfaction and retention.
• Operations Hub: Syncs and automates business processes across different systems, ensuring seamless operations and data consistency.

Pros

• User-friendly interface: The intuitive and easy-to-use interface makes it accessible for brokers of all skill levels, reducing the learning curve.
• Seamless integration with marketing tools: Integrates smoothly with marketing, sales, and service hubs, creating a unified platform for managing leads, investors, and customers.
• Automation capabilities: Provides powerful automation tools for tasks like email marketing, lead nurturing, and sales workflows, helping brokers save time and improve efficiency.
• Customizable dashboard and reports: Allows brokers to create customized dashboards and reports to track metrics and gain insights into business performance.
• Comprehensive free plan: Offers a robust free version that includes essential CRM features, making it ideal for small brokerage firms and startups.

Cons

• High cost at higher tiers: Pricing can become expensive as you move to higher tiers, which may be prohibitive for small brokerage firms as they scale.
• Limited customization in free plan: The free plan and lower tiers have limited customization options, restricting flexibility for growing brokerage firms.
• Complexity in advanced features: Some advanced features, such as custom reporting and workflows, have a steep learning curve and may require additional training.
• Email marketing limits: Email marketing functionality in the free plan is restricted by limits on the number of emails you can send, which can be a drawback for brokers with larger client lists.
• Additional costs for add-ons: Many useful features, like advanced CRM capabilities and integrations, come as paid add-ons, increasing the overall cost.
  

Price and plans

Prices and plans on HubSpot's CRM suite for an annual subscription are as follows.

• Starter: $15 per user, per month.
• Professional: $450 per user, per month.
• Enterprise: $1,500 per user, per month.

3. Pipedrive

Pipedrive is a web-based CRM for small businesses, offering lead management, automation, email integration, and customizable pipelines to optimize sales.

Key features

• Lead and deal management: Centralized tools to manage leads, investors, customers, and investment opportunities, helping brokers act quickly on potential deals.
• Sales automation: Workflow automation to handle repetitive tasks like lead routing, follow-ups, and email sequences, allowing brokers to focus on closing deals.
• Email integration: Full email sync, templates, and tracking features, enabling brokers to manage all communications directly from the CRM.
• Advanced reporting and analytics: Real-time data analytics and custom reporting tools to track performance, forecast revenue, and gain actionable insights.
• Customization and security: Options to customize pipelines, fields, and user permissions, with robust security measures to protect sensitive data.

Pros

• User-friendly interface: The CRM is known for its intuitive and visually appealing interface, making it easy for brokers to navigate and manage their sales pipelines.
• Sales pipeline focus: Specifically designed for managing sales pipelines, offering a visual approach that helps brokers track deals and activities effectively.
• Customization: Allows for a high degree of customization, enabling brokers to tailor the platform to their specific processes with custom fields and workflows.
• Affordability: Offers competitive pricing, making it accessible to small and medium-sized brokerage firms without sacrificing essential CRM features.
• Automation features: Includes automation tools that help streamline repetitive tasks, such as sending follow-up emails and moving deals through the pipeline, saving time and boosting productivity.

Cons

• Limited advanced features: Lacks some of the more advanced CRM features, such as extensive marketing automation and AI capabilities, which are available in other platforms.
• Basic reporting in lower tiers: The reporting and analytics features in the basic plans are somewhat limited, requiring upgrades to access more in-depth insights.
• No built-in email marketing: Does not include built-in email marketing features, requiring brokers to integrate with third-party email tools for such functionality.
• Limited customer support hours: Customer support is not available 24/7, which can be inconvenient for brokers operating in different time zones or needing immediate assistance.
• Price increases with add-ons: The cost can increase quickly when additional features or integrations are added, making it less cost-effective for brokerage firms with growing needs.
  

Price and plans

An annual subscription plan basis is as follows.

• Essential plan: Starts from $24 per user, per month.
• Advanced plan: Starts from $44 per user, per month.
• Power plan: Starts from $79 per user, per month.
• Enterprise plan: Starts from $129 per user, per month.

4. Zoho

Zoho is a CRM system with a strong sales focus. Its got features such as journey orchestration, sales process management and workflow automation. There's also something for marketing teams, including lead hurting, event management and customer segmentation.

Key features

• Lead and contact management: Manages leads, investors, customers, and investment opportunities, tracking interactions and segmenting contacts for targeted campaigns.
• Sales pipeline management: Visualizes and manages sales pipelines with drag-and-drop functionality, helping brokers keep track of deals and opportunities.
• Customizable dashboards and reports: Allows brokers to create and customize dashboards and reports for in-depth analytics, giving insights into sales performance and opportunities.
• Multi-channel communication: Integrates with email, phone, social media, and live chat to manage all broker interactions from a single platform.
• Workflow automation: Automates routine tasks and processes to improve efficiency and reduce manual effort, freeing up brokers to focus on closing deals.

Pros

• Affordability: Zoho CRM offers competitive pricing with various tiers, making it accessible to small and medium-sized brokerage firms.
• Customization: Extensive customization options allow brokers to tailor the CRM to their specific needs, including custom fields, modules, and workflows.
• Integration with Zoho Suite: Seamless integration with other Zoho products creates a comprehensive ecosystem for managing different business functions.
• Multi-channel communication: Supports email, phone, social media, and live chat, enabling brokers to manage all interactions from a single platform.
• AI-powered features: Zia, the AI assistant, provides intelligent insights, predictive analytics, and task automation, helping brokers improve sales and marketing efficiency.

Cons

• Steep learning curve: The extensive customization options can be overwhelming for new users, requiring a significant time investment to master the platform.
• Complex setup: Initial setup and configuration can be complex, particularly for brokerage firms without technical expertise or dedicated IT resources.
• Performance issues: Occasional reports of slow performance, especially with large datasets or complex operations, can hinder productivity for brokers.
• Limited third-party integrations: While Zoho integrates well with its own suite of products, integration with third-party applications can be limited or require additional effort.
• API limitations: The API may have limitations for brokerage firms with complex integration needs, sometimes requiring custom development work.
  

Price and plans

Zoho's free plan is limited to three users suitable for small businesses. After that, an annual subscription plan is as follows.

• Standard: $20 per user, per month.
• Professional: $35 per user, per month.
• Enterprise: $50 per user, per month.

5. Salesforce

Salesforce is a robust CRM platform for large enterprises, offering tools for sales, marketing, service, and analytics, with extensive scalability.

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Key features

• Customization and scalability: Salesforce is highly customizable and scalable, allowing brokers to tailor the platform to their specific workflows and manage substantial growth.
• Artificial Intelligence (AI) integration: Salesforce Einstein offers AI-driven analytics and automation, providing brokers with actionable insights to optimize their strategies.
• Extensive integration capabilities: With Salesforce's AppExchange, brokers can integrate the platform with a wide range of third-party applications, ensuring seamless operation across different business systems.
• Advanced analytics and reporting: Salesforce provides powerful analytics and reporting tools, allowing brokers to gain deep insights into their data and make informed decisions.
• Mobile accessibility: Salesforce offers a robust mobile app that allows brokers to manage their CRM on the go, with full access to all key features.

Pros

• Comprehensive feature set: Salesforce offers an extensive range of features covering sales, service, marketing, and more, making it a powerful tool for managing all aspects of broker relationships.
• Highly customizable: Salesforce is highly customizable, allowing brokers to tailor the platform to their specific needs with custom fields, objects, and workflows.
• Extensive integration capabilities: Salesforce integrates with a vast array of third-party applications, enabling seamless data flow across platforms.
• Scalability: Salesforce is highly scalable, making it suitable for brokerage firms of all sizes, with the ability to grow with your business.
• Advanced analytics and reporting: Salesforce provides powerful analytics and reporting tools, allowing brokers to gain deep insights into their data and make informed decisions.

Cons

• High cost: Salesforce can be expensive, especially for small to medium-sized brokerage firms, with high licensing fees and additional costs for add-ons and customization.
• Steep learning curve: Due to its extensive feature set and complexity, Salesforce often requires significant time and training for brokers to become proficient.
• Complex setup and customization: Initial setup and customization can be challenging and often require expert help or certified consultants, which adds to the overall cost.
• Overwhelming for small teams: Salesforce’s robust features may be overkill for smaller brokerage teams, leading to underutilization of the platform’s capabilities.
• Integration complexity: While Salesforce offers extensive integration capabilities, integrating it with third-party applications can be complex and require technical expertise.
  

Price and plans

• Starter Suite: $25/user/month provides basic CRM features for small businesses
• Pro Suite: $100/user/month includes advanced tools for growing businesses
• Enterprise Plan: $165/user/month offers extensive customization and automation for large companies
• Unlimited Plan: $330/user/month provides comprehensive features for large enterprises
• Einstein 1 Sales: $500/user/month provides AI-driven insights and advanced features for large enterprises

Conclusion

Whether you are a startup or an established firm, the right CRM can make a significant difference in managing your leads, clients, and deals efficiently.

Platforms like folk offer a modern, intuitive interface with powerful features like contact enrichment and LinkedIn integration, making it an excellent choice for brokers looking to centralize their workflows. HubSpot provides a comprehensive suite with robust marketing and sales tools, ideal for firms seeking an all-in-one solution. Pipedrive excels in ease of use and sales pipeline management, perfect for small to medium-sized firms. Zoho CRM offers extensive customization and integration options, catering to diverse business needs. Lastly, Salesforce stands out with its advanced analytics, scalability, and extensive feature set, suitable for large enterprises.

Ultimately, the best CRM for your brokerage will depend on your specific requirements, budget, and growth plans. Evaluate your options carefully, leverage free trials, and choose a platform that aligns with your business goals to ensure long-term success. Try folk for free here.

Need a helping hand? Use our free tool to find your perfect CRM match.

Frequently Asked Questions

What does a busy team at a brokerage firm use as a CRM?

Brokerage firms often use CRMs like Folk, Hubspot, Pipedrive, Zoho, and Salesforce. Folk is particularly popular for its intuitive interface and automation features, while Hubspot and Pipedrive are known for their comprehensive sales tools. Zoho and Salesforce offer extensive customization and scalability, making them suitable for larger firms.

Do I need a CRM?

Yes, depending on the complexity of your process. A CRM can streamline operations, improve client management, and boost overall efficiency. If your brokerage deals with a high volume of clients and leads, a CRM becomes essential for maintaining organization and maximizing productivity.

How much does a CRM cost?

CRM costs vary widely. Entry-level plans can start as low as $15 per user per month, while advanced plans with more features can range up to $500 per user per month. The cost depends on the functionalities and scalability required for your brokerage firm.

Does folk’s CRM respond to brokers needs?

Yes, folk’s CRM is designed to meet brokers' needs effectively. It offers ease of use with an intuitive interface, all-in-one features for streamlined workflows, and strong LinkedIn integration for seamless contact management. Additionally, it supports customizability and integrates with over 6,000 apps, making it highly adaptable and efficient for brokerage firms.