How homebuilders can use a CRM system for land acquisition
Land acquisition is a complicated, high-stakes part of homebuilding. Developers need to understand how land will be used and zoned, well before it’s purchased.
Fortunately, a customer relationship management (CRM) solution can make each step of the acquisition process easier to navigate. Builders can use CRM technology while they:
- Search for land: Finding land involves a lot of people. Homebuilders need a system to retain key contacts and history. You can use a CRM to store contact information for brokers and land sellers, surveyors, environmental specialists and municipal staff associated with a parcel, as well as details about the land.
- Establish land use and zoning requirements: Land acquisition can be a lengthy process. A builder could eye a piece of land for years before a deal is tenable. All that history can be stored in a CRM, along with key institutional knowledge. Homebuilders can establish checklists and schedules for follow-up, so every due diligence and zoning requirement is met.
- Measure profitability: From start to finish, how much time and money are you investing in the deal? What’s the timeline for development and ROI? A CRM pulls together data from across the business, so that you see an accurate view of performance.
- Develop communities: Once a deal is signed, construction begins. Builders can use a CRM to retain copies of closing statements, deeds and tax liabilities. Then, everything on the acquisition is housed together. That makes it easier to trace decisions and land history if there’s ever a dispute about access or utility fees.
Some CRM systems are designed specifically for homebuilders. Others can be configured to match homebuilders’ unique sales and development processes. Choose a solution that lets you work the entire property acquisition lifecycle from one workspace. With a CRM, homebuilders should gain:
- Access to contacts across every stage of the development process
- Reports, dashboards and workflows to keep tabs on the pipeline
- Tools to make communication easier and work more efficient
- Robust history about land parcels and opportunities
Wipfli can help you evaluate your CRM needs, or tailor a solution to your land acquisition process. With support from an experienced partner, land acquisition can become simpler to manage.
Learn more about all of our services for homebuilders.