How CRM software is powering Dubai's real estate industry

As a thriving centre of culture, incredible architecture, and amazing opportunities, Dubai has a huge amount of potential for real estate businesses to grow and thrive in 2024 and beyond. These businesses are being supported by robust digital infrastructures, and the power of Customer Relationship Management (CRM) software.

In this article, we are looking at the real estate industry in Dubai – how it currently stands, and where it is predicted to grow in the current year. Then, we will look at why CRM software adoption is boosting Dubai sales growth, and why the right CRM tool is so important for real estate businesses, before finally examining what you should be looking at when sourcing your own tools.

What does the real estate industry in Dubai look like at present?

Much of the real estate industry in the region is currently focused on residential housing and developments, bur a strong economy, expanding population and significant focus on investment, economic development, and start up business growth has not excluded retail locations or developments from being undertaken.

According to Bloomberg, S&P expects 40,000 properties to be delivered in Dubai in 2024, and a further 40,000 to be delivered in 2025.

Real estate businesses in the area are making use of technology to improve their businesses in regards to sales, lead generation, team management, and customer retention, with a particular focus on streamlining processes and reducing turnaround times between customer inquiries and resolution.

How is the real estate industry predicted to change in 2024?

Dubai is a hub for business startups, and it is unsurprising that the real estate industry is thriving as companies look to grow and expand into the region.

According to Exclusive Links Real Estate, 2024 is expected to see stable growth of the real estate industry between 3.5% and 5%, with, “growth driven by a competitive economic landscape and government initiatives attracting global businesses and individuals.”

Frank Knight reveals that house prices in the three prime residential areas (Palm Jumeirah, Jumeirah Bay Island, and Emirates Hills) are expected to increase by 5% - a more modest increase compared to the 15.9% in the year to September 2023, and the real estate industry, accounting for 8.9% of the economy, is still a key measure of success.

How has CRM software adoption grown and developed in Dubai?

CRM adoption in Dubai continues to grow, as more companies embrace the technology to address specific organisational needs, and improve business success in a growingly competitive environment.

Some of the most important elements in a CRM that real estate customers are looking for include:

• Sales forecasting
• Lead management
• Lead generation metrics
• Sales pipeline
• Customer journey visualisation
• Mobile CRM support
• Email integration
• Marketing automation
• Tracking
• Analytics and reporting.

Businesses are looking to embed their CRM into the heart of their company, integrating the systems for maximum efficiency and effectiveness, and are being driven to look beyond the basics and into a more data-driven approach to get ahead.

Why is the right CRM so important for real estate businesses?

The potential impact the right CRM can have on real estate businesses cannot be ignored, the software offers far more than just keeping track of customers, and it is essential that businesses looking to streamline processes and get those all important sales and business, take careful note of what a CRM can bring.

Some of the key benefits that the right CRM can bring to a real estate business include:

• Communication management
• Drip campaign creation and operation
• Lead capturing and audience targeting
• Customer nurturing
• Client data organisation
• Relationship management and nurturing with agents, sellers, brokers, and developers
• Opportunity identification
• Data security and protection
• Market evaluation and reporting.

Modern CRM software offers a substantial competitive edge, when implemented correctly and embraced as part of a data-drive company culture. Real estate businesses are able to utilise the vast amounts of data generated on a regular basis to improve their opportunities, gather more viable leads, and make smart decisions that can increase the bottom line as well as nurture relationships with existing customers.

What should you be looking at when adopting CRM software for your own real estate business?

The right CRM can do so much for your real estate business that will prepare your team to handle more leads, allow for more engagement, identify opportunities, and grow your company over the year.

Some of the most important elements that you need to consider when looking at different CRM tools, and determining which is right for you include:

• Functionality and scalability: Does the tool have the right applications and the ability to be customised to meet your needs? Will the platform be able to grow with you, and does the CRM integrate with your existing digital architecture?

• Cost: Is there a clear pricing structure, and what does the licensing or cost include? You need to look at what you need now, and what you expect to need in the future, and ensure that you clearly understand what you are paying for.
  
  
• Training and implementation: Does the CRM offer resources, knowledge bases, and / or specific training that will allow your team to learn and adapt to the program, without slowing down or disrupting business practices. How long will it take to implement the process, and train your team to use the tools? The right tool will have a clear time frame for you to work with.
  
  
• Reporting and Analytics: Your CRM is going to make a lot of data available, and this needs to be in a usable format. The right CRM will allow for visualisations and options to customise functions to your own needs.

Real estate is a highly competitive industry, and you need to be working efficiently, effectively, and with the most resource appropriate strategies. Developing clear processes and boosting sales processes with the right CRM can help you to get ahead, develop your brand, grow your customer base, and ultimately increase your bottom line.

Dive your real estate conversion with TEB Apps

TEB Apps is a rapidly growing CRM and automation software that is changing the future of business. You will be able to maximise your conversions, boost revenue and accelerate growth with advanced automation technology. Use TEB Apps to:

Track all your sales data – Centralise and track all of your lead, quote and sales data to stay connected to your processes at all times.

Automate your sales processes – Save time and efficiency with automated processes, from lead assigning to quote creation to help your team provide fast, swift customer service.

Access multiple reports – Access multiple reports such as sales cycle reports, team performance reports, profit reports and much more.

Connect to your business on the move – Use the TEB Apps mobile app to connect to your team and business when on the move.

Step into the future of business automation today, book a demo at a time that suits you.