2 minutes reading time (398 words)

Why the Property Industry Needs a New Word: Help me Define it

General Experts Corner Estate & Letting Agents

Tuesday, 20 August 2024

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The property industry is complex, with over 700 CRM systems feeding data to portals like Rightmove, Zoopla, and OnTheMarket, creating challenges in uniformity and consistency. Legislative changes, such as the 2013 CPR amendments, have shown how slow these systems can be to adapt. Even after 11 years, compliance with NTSELAT's material information requirements remains sluggish.

This inertia is not due to technological limitations but the sheer scale of coordination required. Adding a single new field across platforms can be a technical nightmare, let alone 196 fields to comply with new legislation. The reluctance of portals to modify their systems makes seamless, industry-wide change unrealistic.

Just as an iframe allows a website within a website, we need a new type of CRM—a supplementary, cloud-based system that integrates effortlessly with existing platforms. This system would cater to additional, niche needs, providing a tailored experience for users without overhauling the core CRM. It targets specific niches that current systems do not address well enough. This mutually symbiotic system complements and enhances existing CRMs.

The idea is a supplementary CRM system that integrates with all existing CRM systems, handling additional data fields and functionalities without disrupting the core system.

Key Features of ???CRM:
Seamless Integration: ???CRM integrates with existing CRM systems, handling additional data fields without disruption.

Flexibility and Customization: Agents and property managers can log and search for specific needs beyond standard offerings.

Simplified Compliance: ???CRM simplifies compliance with new legislation by updating independently, ensuring swift adherence across integrated platforms.

Centralised Data Management: ???CRM centralises additional data, reducing the burden on main CRMs and portals, streamlining data entry and retrieval.

The term "???CRM" signifies a new paradigm in CRM. Existing CRM systems are great, but not all are built to handle the rapid changes and specialized needs of modern property transactions. ???CRM fills this gap, offering a supplementary solution that enhances existing systems.

Suggestions so Far:

SyncCRM - Emphasizing seamless integration and synchronization.
UniCRM - Highlighting a unified approach to supplementary capabilities.
CloudFusionCRM - Reflecting the merging of cloud technology with CRM functionalities.
FlexiCRM - Focusing on the system's flexibility and adaptability.
iCRM - A straightforward name suggesting innovation.
MetaCRM - Signifying a transformative approach to CRM.

While each name has merits, MetaCRM is my preferred choice for conveying the solution's transformative nature. However, input from industry professionals is invaluable.
Please share your thoughts on the subject and the name.