Are you not only a sales expert, but also an Excel pro? Home-made calculations are ideal for understanding relationships and saving time. But if you want to grow efficiently and offer customers added value, you need more than complex Excel spreadsheets.
Your most important tools in sales are your technical expertise and the ability to find solutions to your customers’ problems. When it comes to running through scenarios and making calculations, many sales professionals fall back on spreadsheet tools such as Excel or Google Sheets out of habit. They are inexpensive and fulfill their purpose – so it’s not worth switching to professional software tools. Or is it?
Reality shows that tables are often sufficient for the beginning. Over time, however, they can have considerable disadvantages. We highlight 3 arguments against the long-term use of home-made spreadsheets.
1. real estate calculations in Excel are prone to errors
Excel spreadsheets can be used to perform simple and complex calculations. The results are converted into clear graphics with just a few clicks. However, you must first create complex formulas.
The more complex the formula, the more error-prone the entire document is. Even small input errors or incorrect formulas can lead to considerable inaccuracies.
Did you know that over 90 percent of Excel spreadsheets used in companies are incorrect? In real estate sales, calculations of rental surpluses, potential tax benefits and key return figures are crucial. If errors lead to an inaccurate basis for decision-making when buying a property , the trust of your customers will suffer.
Calculations are even more error-prone if different people are to work with them. Many spreadsheet tools only offer limited options for effective team collaboration. The confusion is complete when you and your colleagues want to work with it at the same time or you need to find the current version of the spreadsheet.
Another risk factor arises when external consultants or freelance sales staff can change tables on their own. Without clear authorizations or checking mechanisms, changes can quickly creep in, leading to incorrect results and, in an emergency, liability risks.
Another disadvantage is that many self-built tables cannot be compared or standardized with each other. Sales organizations in particular, which use several consultants, must be able to rely on uniform structures. This can hardly be achieved with classic Excel spreadsheets.
Read why data quality is a must in real estate sales
2. tables cost valuable time
In order for a calculation to help you in your day-to-day sales work, you need to feed it with data. Apart from the fact that errors can occur when entering property and financial data manually, this process takes a lot of time. You also have to maintain the data: Every update or addition to property data requires additional manual adjustments.
In addition, tax regulations and legal requirements in the real estate sector are subject to constant change. Tax innovations such as depreciation according to §7b EstG or declining balance depreciation require continuous adjustments to calculations. Excel spreadsheets are not able to take these changes into account automatically, which further increases your manual workload.
The time you spend maintaining your spreadsheets could be put to better use – for example, in providing comprehensive advice to your customers or closing deals.
3. tables are inflexible
The more appealingly you present your sales arguments, the more convincing your offer will be. However, presenting property data and sales offers in Excel spreadsheets can quickly come across as unprofessional and untidy.
Although you can add your brand colors to the tables, the design options are limited beyond that. This also applies if you want to impress your customers with interactive calculations and modern dashboards.
Another disadvantage of self-built calculations is that although you can share a spreadsheet with your customer, you cannot track how they use the spreadsheet. However, this information is important if you want to continuously optimize your advice and adapt it to the needs of your customers.
In addition, static Excel files look outdated and unconvincing, especially with modern online or video consultations. Instead of advising their customers on the phone or at the kitchen table, professional advisors have long been relying on video calls and interactive calculation tools that not only look better during the conversation, but can also be adapted to the respective customer situation. This also saves travel time without customers having to forego personal and individual advice.
It is also important to remember that the data in an Excel spreadsheet is often confidential and must be well protected. Ensuring this is a challenge for many sales teams.
Alternative to spreadsheets: Sales software for the real estate sector
Excel spreadsheets are inexpensive and suitable for simple calculations in customer sales. However, arguments such as high susceptibility to errors, time-consuming data maintenance and limited collaboration options speak against relying exclusively on Excel or Google Sheets as a sales tool on a day-to-day basis. In addition, spreadsheets are usually either too complex or oversimplified, which can lead to misunderstandings when providing advice.
The alternative is a SaaS solution for real estate sales. SaaS stands for Software as a Service – you receive an all-round carefree package from the provider of the solution and all the functions you need for sales success. The software is regularly with updates so that you are on the safe side when it comes to data protection and compliance.
Incidentally, with real estate software you benefit from swarm intelligence: providers such as Investagon continue to develop their software in line with customers’ increasing requirements and also find a solution for special problems that ultimately benefits all users.
Professional sales software for real estate
- minimizes the risk of errors in calculations through central checks
- automates the interfaces to other systems and enables seamless data integration and maintenance
- receives regular updates and takes into account the current status of taxes and legal requirements
- offers interactive, visually appealing dashboards, customized reports and user-defined layouts
- is the basis for modern consulting with dashboards and flexible calculations instead of old-fashioned tables
- offers versatile functions that go beyond tables and make your sales more efficient
Choosing a specialized tool is an investment in the future viability and professionalism of your company. Although you will have to pay a monthly fee, professional sales software offers you numerous advantages that will benefit your efficiency and your nerves.
By relying on modern software solutions, you not only optimize your work processes, but also improve the quality of your customer presentations and reduce the risk of errors. This allows you to concentrate on the essentials: the successful conclusion of real estate transactions and the satisfaction of your customers.
