APPLYING CUSTOMER RELATIONSHIP MANAGEMENT IN THE REAL ESTATE MARKET: A CASE STUDY ON CHESTERTON INTERNATIONAL'S COMMERCIAL DEPARTMENT

Abstract

In the euphoria over Information Technology and the Internet in the early 1990s and early 2000s, Customer Relationship Management (CRM) took centre stage. Most major company invested heavily in broad suites of demand side application that were supposed to transform interactions with customers and drive sales and profitability. This research is based on a case study of Chesterton International Property Consultants' Commercial Department's management system, one of Singapore's established real estate companies, and a feasibility analysis of the present day benchmarks of modern CRM systems to help market the products efficiently in the real estate industry. The paper is a qualitative study on the different management perceptions, utilizing the framework of several interviews and the methodological extraction of the dynamic data into categorized comparisons with modern-day CRM systems. After the data was compared, it was clear that the case study revealed the large disparity of the current system as opposed to the modern-day CRM system, in terms of CRM system design and advanced functionality. This research finding has revealed that modem CRM functions and performance criteria can be beneficial to Chesterton International Property Consultants' Commercial Department.