21, May, 2024
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Best CRM Software for Real estate wholesalers
Biography
David Lee brings over 3 years of CRM experience to the table, with a proven track record of success in helping businesses leverage technology to achieve their customer relationship goals. He is a data-driven CRM strategist with a keen understanding of how to utilize CRM systems to gain actionable customer insights and personalize customer interactions. David is a regular contributor to industry publications and frequently speaks at CRM conferences, sharing his knowledge and best practices with the CRM community. He holds a Master's degree in Business Administration (MBA) with a specialization in Marketing.
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Latest Update:
Aug 22, 2024, 9:02 am
In a Nutshell
Real estate wholesaling is a lucrative sector of the industry. Business owners are expected to develop and nurture the best customer relationship management. As a CRM expert, I’ve encountered various high-performing options, but not every CRM is suitable for real estate wholesalers.
For this detailed review, I’ve evaluated various CRMs and curated a list of the best ones for wholesaling real estate. The guide also compares the best CRMs for real estate wholesalers and recommends the best based on business needs and objectives.
10 Best CRMs for Real Estate Wholesaling
1. PropStream – Best Overall
2. Resimpli – Best for lead management & Marketing
3. REIPro – Best for real estate deal analysis
4. InvestorFuse – Best for faster operations
5. Podio – Best for cost reductions
6. Pipeline – Best for customization
7. DealMachine – Best mobile-focused
8. Call Porter – Best for inbound & outbound calls
9. FreedomSoft – Best for finding new leads
10. PropertyRadar – Best for personalized lead experience
Real estate wholesalers value customer relationship management. There are numerous CRMs available to the real estate industry, but which is the best one for real estate wholesalers? Utilizing a CRM system comes with many advantages for real estate wholesalers. A reliable system enhances customer retention and increases sales. A CRM that’s customized to meet real estate industry needs enhances productivity and business operations.
Why Real Estate Wholesalers need CRM Software
Real estate wholesalers deal with many customer interactions in their business operations. CRM tools are designed to help businesses enhance customer relationships and thus increase productivity. With a CRM tool, the real estate wholesaler will have a streamlined business operation. They’ll also be able to coordinate customer communication and centralize sales and marketing.
CRM software features vary from one brand to another. However, their primary role is systemizing daily business operations and enhancing the wholesaler’s outreach. They also provide a simplified system of tracking administrative tasks and managing leads. The best real estate wholesaling CRM should enhance a business’s efficiency and productivity while reducing operational costs.
Top 10 CRM systems for Real Estate Wholesaling
Free Plan: No
Starting at $20
Why we like it
PropStream has comprehensive features optimized for real estate wholesaling. I particularly like its lead generation systems and market analysis features. It has access to 150 million property data in MLS (Multiple Listing Service) format. This enables real estate wholesalers to carry out detailed market analysis, and it helps in evaluating potential investment properties.
Most important features
Free academy
The CRM offers self-paced courses covering the basics of real estate wholesaling. Additionally, the platform has weekly live webinars
Targeted marketing
Various pitching tools enhance targeted marketing. These include skip tracing, email campaigns, postcards, and free landing pages
PropStream mobile
The mobile application offers convenience when working on the go, and has the same features as the web-based version
Excellent customer support
PropStream offers customer support through various functions and features. The features are placed in different sections to provide problem-specific assistance. Customer support is also available through live chat, email, and phone
Pros & Cons
Pros
- User-friendly interface
- Comprehensive suite of sector-specific features
- Robust data analytics and market analysis
- Efficient property data integration
Cons
- Could be challenging for beginners due to the many features and functions
- Search and reporting options aren’t fully customizable
Free Plan: No
Starting at $99
Why we like it
REsimpli is a CRM tool tailored to meet the requirements of real estate investors and wholesalers. It features a user-friendly interface, lead management tools, and automation capabilities. The built-in marketing functions simplify the process of marketing and contacting potential leads. Its many functions and features eliminate the need for real estate wholesalers to have multiple applications and systems.
Most important features
Enhanced business management
REsimpli integrates critical business functions of real estate wholesaling into one efficient application, reducing operational costs and time spent on various tasks
Advanced marketing solutions
The marketing automation tools on this CRM are very customizable. There are more than 90 pre-designed templates. The automated drip campaigns cover multiple marketing channels.
Comprehensive built-in functions
Various in-built functions and features for enhanced and seamless business operations. These functions include list-stacking tools, a versatile phone system, and e-sign functionality.
Pros & Cons
Pros
- User-friendly interface for easy navigation
- Task automation to streamline workflow
- Seamless customer outreach via built-in marketing functions
Cons
- Limited information on integration
- Obliged to buy most-expensive for more than 5 users
Free Plan: No
Starting at $109
Why we like it
REIPro offers high-level CRM functionality to real estate wholesalers. Additionally, it has marketing, property management, and deal analysis tools. The system utilizes a comprehensive real estate deal analysis approach, especially with REIPro’s deal analyzer feature. The feature also allows real estate wholesalers to estimate repair costs and evaluate a property’s profitability.
Most important features
Education resources
The system provides over 15 hours of real estate wholesale education. This is extremely useful for both newbies and established real estate wholesalers
Deal Analyzer
This function evaluates the profitability of the property. It also estimates possible repair costs and runs a financial analysis, which is crucial to deal negotiations. The feature also provides several inspection forms and investment scenarios
Workflow System
The CRM has a step-by-step workflow system. The 10-step workflow offers a detailed guide during the investment process and provides buyers and sellers with all the vital information they need before making a decision
Pros & Cons
Pros
- Enables seamless workflow
- Great educational content
- Deal analysis helps decision-making
Cons
- Limited integration with third party apps
- Limited customer support options
Free Plan: No
Starting at $147
Why we like it
The main attraction of InvestorFuse is its ability to streamline and automate business operations. Real estate wholesalers save time and money by running administrative tasks such as deal analysis, and lead task management. The Action-Based system is user-friendly and easy to master. The “Groups” and step-by-step lead management enable faster tracking and following of potential leads. Rookie real estate wholesale agents can significantly benefit from the resource center.
Most important features
Step-By-Step Actions
These help real estate acquisition teams save time and money. No prior technical knowledge to use the feature.
Groups
Enable seamless organization of leads based on campaign assignment. Real estate wholesalers can regulate access to the groups by different users.
Automated KPIs
The Action system develops real estate wholesaling KPIs. The automated KPIs help understand new and qualified leads and how they can be converted into opportunities.
Pros & Cons
Pros
- Customizable to suit both real estate wholesalers and investors
- Handles investor-specific needs and business objectives
- Streamlines business operations
Cons
- Can take some time for newbies to become familiar with all the features and functions
- Pricing plans are slightly expensive
Starts at $11.20 per user per month
Why we like it
Podio provides real estate wholesaling sector experts with various functions and features that streamline operations and reduce costs. Thanks to the automated workflow system, customer engagement is enhanced. Lead generation is more streamlined, providing a more simplified overview and analysis. Timely reminders on the system enable easy management of assignments and scheduling of tasks. Furthermore, the features and functions of the system are customizable for real estate wholesaling.
Most important features
Podio Apps
These eliminate the need to download many applications required for smooth business operations. Additionally, the apps on the CRM system are customizable and don’t require any technical expertise
Third-party integrations
Real estate wholesale agents can integrate multiple third-party applications with the Podio CRM system. Integration enables better-organized operations and task management
Task Management
Enables simplified teamwork and keeps everyone informed. Simple administrative tasks like attaching files and assigning projects are much easier to coordinate
Pros & Cons
Pros
- Highly customizable
- Great integration with third-party tools
- Functionalities geared to real estate wholesalers
- Useful task and workflow management
Cons
- Mobile application lacks some of the functionalities of the browser-based platform
- Extensive customization requires some technical expertise
Starts at $25 per user per month
Why we like it
Real estate wholesalers who have a challenge managing their leads will benefit from using the Pipeline CRM. It enables customization of lead capture, deal tracking, and lead management. The workflow automation function ensures seamless deal progression, collaboration, and lead prioritization. Thanks to the excellent customization options, real estate wholesalers can cater to specific business lead management needs.
Most important features
CRM Tracking and Reporting
The system’s email campaigns and tracking function ensure timely communication via email. Emails are opened, clicked, and downloaded on the user’s Pipeline account
CRM Account Customization
Real estate wholesalers can prioritize customer information based on their needs. The deal pages have more than 25 customer fields
CRM Reporting
The CRM’s detailed analysis of past data helps make predictive judgments. Salespeople can easily stay on track and hit their targets
Pros & Cons
Pros
- Customizable for unique business needs
- Lead tracking, reporting, and email automation features
- Tailored workflow enhances productivity
- Suitable for all types of real estate wholesalers
Cons
- Excessive customization can become costly
- Challenging to manage and organize contacts of multiple clients
Free Plan: No
Starting at $129
Why we like it
DealMachine is a functional system for experienced and novice real estate wholesalers. Unlike other CRMs, DealMachine is more mobile-focused yet still features outstanding functions. From the mobile app, one can manage lists, simplify marketing tasks, and organize leads. Its convenience as a reliable mobile-friendly CRM allows real estate wholesalers to perform their administrative duties from any location and at all times. The desktop version of the CRM is equally functional and features the same features as the mobile app.
Most important features
Marketing automation
Helps draft the best email templates that are likely to convert potential leads
Smart Lists
This feature enables automated list generation of potential leads. Users can create customizable lists of their leads based on their needs and objectives. The list is updated daily to ensure the the latest information is always being used
Real estate AI assistant
The CRM has an AI assistant named Alma. It empowers real estate wholesalers with valuable property insights, detailed personalized analysis, and strategic guidance
Pros & Cons
Pros
- Mobile-focused with unique functions
- Easy data collection including pictures and contact information
- Automated marketing campaigns
- Modern and innovative solution
Cons
- Limited functions compared to other top real estate wholesale CRMs
- Data accuracy challenges may arise.
Free Plan: No
Starting at $59
Why we like it
Call Porter is specifically designed to meet the needs of outbound and inbound campaign and marketing calls. The unique features of the CRM include the 24-hour live call answering function that ensures any caller gets a response when contacting a real estate wholesale business. It also has Call Porter live agents who schedule appointments for the company, thus saving time and money. Additional features and functions on the CRM track all calls, provide custom numbers, and record calls.
Most important features
Live Call Answering agents
The Call Porter agents are US-based, and are highly-trained in the real estate industry. They’re available to provide support to real estate wholesale professionals in real time
24/7 live answering service
Real estate wholesale businesses don’t need to worry about missing calls from potential clients. The CRM has a 24/7 live answering function, which collects all information from the call for the business
Fractional lead management
The system schedules calls to potential leads on behalf of the real estate wholesale business. Management of leads at this stage helps in scaling up marketing initiatives
Pros & Cons
Pros
- Has best features for inbound and outbound calls
- 24/7 live answering system
- Live call agents trained in the real estate industry
Cons
- Limited functionality beyond outbound and inbound calls
- Limited lead management compared to other CRMs
Free Plan: No
Starts at $197
Why we like it
FreedomSoft has a lead finder feature that helps real estate wholesalers find new leads faster. The dedicated button allows the users to narrow down leads based on various key metrics. The metrics include property characteristics, property type, zip code, and ownership status. The feature can locate cash buyers and private buyers in the real estate wholesale market. Additionally, the CRM has various functions that enhance marketing strategies, such as customizable templates for lead campaigns.
Most important features
Lead generation & marketing
The CRM has multiple features that enable faster lead generation. It also has direct email templates that can convert potential leads. Power dialers get the wholesalers talking to various sellers
CRM & lead management
FreedomSoft provides a detailed overview of the lead pipeline. Plus, list and marketing campaigns are consolidated in one place
Deal analysis & reporting
Real estate wholesalers can quickly run sales and rental comparisons. Red, green, and light yellow analyses show the various statuses of deals
Pros & Cons
Pros
- Comprehensive, updated data on leads
- Deal analyzers to help calculate potential profitability of a property
- Faster lead generation process
- Plenty of resources and functions for lead generation and management
Cons
- Expensive compared to other options
Free Plan: No
Starts at $99
Why we like it
Regular homeowners become motivated sellers when they experience personalized marketing experiences. PropertyRadar provides detailed insights into targeted owners and their properties. The CRM enables property wholesalers to create customized experiences for every lead they interact with. The insights on homeowners include age, estimated equity, income, and education level. On the property, the insights provided are location, ownership, neighborhood information, and property characteristics. The software also has additional marketing features, such as automated marketing campaigns and lead management features, which help in customer relationship management.
Most important features
Property & owner data
The CRM provides comprehensive data and useful profiles based on key metrics. In addition to the property and homeowners’ data, you can access community-based data
Market to a list
The CRM system has various built-in marketing tools that can execute phone campaigns, online ads, direct mail, and emails. It also has over 123 custom export fields for effective marketing campaigns
Connect one-to-one
Real estate wholesalers can connect with leads via mail, phone, email, and social media on the PropertyRadar platform. There’s no need for skip tracing because property wholesalers can limit their lists to homeowners with contact information
Pros & Cons
Pros
- 3-day free trial
- Straightforward communication with property owners
- Reliable homeowners’ and property data collected from public records
- Easy cancellation process on payment plans
Cons
- No free plans
- Not user-friendly for novices
Criteria for Selecting the Best CRM for Real Estate Wholesalers
Various vital factors are prioritized when picking the best CRM for real estate wholesalers. I recommend that real estate wholesalers consider the following key factors when looking for a reliable CRM:
Business Needs
Focusing on the specific needs of the business is critical. The best CRM will help meet the business’ objectives
Integration
Third-party integration helps streamline business operations. The ideal CRM should efficiently integrate with all third-party applications used by the real estate wholesale business
User interface
A straightforward and user-friendly interface helps save time and eliminates unwanted frustrations when handling business tasks
Automation
Modern CRMs have automated functions for a more streamlined workflow. The best CRM will have automated workflows and tasks such as email marketing and lead tracking
Cost
What’s the CRM system’s cost structure and scalability in the long run? The cost should align with the business’s budget and be scalable to grow with the company.
Considerations for Small Real Estate Wholesalers vs. Large Wholesalers
Real estate wholesalers have different needs and objectives when looking for a reliable business CRM tool. Large real estate wholesalers have the power to manage a high budget, but small real estate wholesalers have to be budget-conscious when deciding on a payment plan for a CRM system. The two have unique needs ranging from lead generation and management to automation of operations and marketing campaigns.
Finding the best CRM for real estate wholesalers goes beyond prioritizing the payment plan. The best CRM software should provide long-term benefits to the business. It should help enable seamless business operations, cost reduction, and growth in terms of lead generation and management.
Conclusion
Whatever their size, real estate wholesalers need CRM tools for more effective business operations because the property wholesale industry is extremely competitive. The CRM tools listed in this guide have different functions and features based on the users’ needs and business objectives. When picking the best real estate wholesale CRM, ensure that you evaluate the relevance and importance of the functions and features to your business.
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