This article originally appeared on RealEstateCRMSoftware.com.
Selling a condominium community can be lots of fun. Often, condo buildings are located in bustling urban centers and present opportunities for creative sales and marketing techniques. Selling condos also presents a unique set of challenges, particularly when it comes to managing inventory.
Given the physical structure of a condo building (and often the sheer number of homes), tracking inventory on Excel-based spreadsheets can be overwhelming and frustrating. It’s difficult to see sales patterns based on stacks, which often determines how the building is priced. For example, sales of the downtown-facing ‘A’ stack may be outpacing those of the parking lot-facing ‘B’ stack, and it’s helpful to see those patterns to determine pricing and release strategy. Using a spreadsheet to manually manage price adjustments, upgrade packages, availability and deal status can easily lead to costly errors.
With a CRM solution for real estate developers with built-in inventory functions, it’s easy to manage one condo tower, or a hundred. With Lasso, for example, inventory is uploaded only once and a graphical stacking plan with real-time pricing and availability is immediately generated. Inventory is color-coded by status for easy reading, and it can be exported as a list or Excel file if necessary. Availability boards can be printed directly from the CRM system, or sent in an automatic email that is distributed to the sales team a certain time each day. Here are some additional inventory features:
- Price Revisions
- Mass Updates
- Inventory Search
- Commission Calculation
- Document Storage
- Storage and Parking Space Assignments
- Sales Projections
- Advanced Reporting
Let us help you better manage your condo or multi-family inventory with a CRM solution. Contact Lasso to learn more.