Sell side deal tracking - need Realtor® input

CRM
#1

Hello everyone! As we progress through the development of REW Deals, I’d love to get your input on the main “stages” of a listing deal. (The pipeline)

Here is a screen so far (on the listings side)

Screen Shot 2023-07-01 at 7.57.19 AM
Screen Shot 2023-07-01 at 7.57.19 AM2344×1410 145 KB

My main objective is to ensure the stages (in blue, main milestones) are correct, but we also welcome input as to what needs to be “in” each stage as well.

So far the stages are:

Appointments: Going on a listing appointment, doing a CMA, etc

Listing contract: Getting the contract signed

Go to market: All of the pre-listing activities that need to be done as well as ensuring all marketing is in place

Offers: Reviewing offers

Pending: Subject removal period

Closed: Logging the deal including final sale price, total commission, the portion that went to agent, and portion that went to team leader/broker.

Does this work? Or is there a stage that is so “separate” it needs its own stage?

For example, we considered splitting Go To Market into 2 stages:

1: All the logistical / paperwork, data entry/compliance stuff
2: Marketing the proper (all the things that need to be done to market the listing

but I’m also thinking UI and I don’t want the “main” stages to get too complicated (keep in mind, there are sub data points in each step.

What are your thoughts? What are the “main steps” you want to log in order to make sure you can track the user workflow from appointment to close?

Your feedback is greatly appreciated

3 Likes
#2

This looks pretty straight forward to me. I don’t think I’d add / take anything away.

#3

This is feedback from my wife who manages our team’s files:

Appointments > Go to Market > Active > Offers > Pending > Closed

Active – listing is actually on the market and there should be follow up points how the property is doing for showings, when you are hosting open houses (appointments?), when you might do the next price change, contract listing price vs current price on market, what your MLS (or equivalent system) assigned ID is for the property, when the expiration date of the listing is, maybe a URL field to link to input to the cloud storage your files for the listing are; etc

Withdrawn or Canceled – sometimes things happen and it gets taken off market before pending, or the deal falls through and seller takes off market and this is good info to have alongside closed, unless there’s a way under closed to determine if the property recorded vs canceled

**** Couldn’t Listing Contract be part of Go to Market? All of that is necessary to get to market!

2 Likes
#4

“reviewing offers” isn’t something that should be in the deal flow. That’s like a 1-2 hour time slot that doesn’t need to be added imo. Here’s what our TC’s came up with on the list side. Obviously buy side is different:

Pre-List (Instead of Appointment)
Executed Listing Agreement (same as Listing Contract)
Logistics to Active MLS
Marketing to Active
Active (this can include offers, managing showing requests, open houses)
Under Contract
Contingencies removed
Closed
Post Close Follow Up Plan

1 Like
#5

These are some great contributions, thanks Ken!

One question on the reviewing offers: One of the things we’re considering is a “share with client” button whereby if you share it, your client can see select things (not all things) within their client dashboard. The current offers all in one place for clients to review some folks might find helpful - does this change your perspective at all?

Next is data - we’re wanting to gather / store as much data for future use (who knows what you might need or want in the future)

For example - maybe you want to create a trend report on offers (under or over ask) to leverage in listing appointments or to help get a price reduction that sort of thing. (Better yet to predict where the market is going based on consumer behaviour)

Love to know your thoughts.

FYI, I’m in Florida on Sunday (in Jupiter though, looks like that’s like 150 miles away) but if you’d like to connect (even virtually) I’ll be in your time zone :slight_smile:

#6

From a data collection point of view, there is a lot of data that goes into this step (it’s at least a large form) for example

Address, Price, Listing Details, Agreed Commission rates (all that stuff) could be 20 or 30 fields. My idea in keeping it separate was to be able to enter that stuff without having to mess up the other stages / reports. (Could also just be a form linked from somewhere etc too)

Folks seem to be 50.50 on this one

#7

Dang man, so close but so far (Jupiter)

On reviewing offers: To slow down and upload every offer (prior to signature, but like taking the data and inputting it into a crm, then sending to the client to review) seems like an unnecessary step that I wouldn’t slow down to do. Unless there’s like 10 offers they need to see. Most of the time it’s only 1-2 offers, which makes it easy to have a 5 min convo, negotiate, and move on.

What other items might the seller want to see? Like a pizza tracker type thing where they can see where the file is at in process? That part might actually be cool. Send a daily “here’s what’s new with your deal”. Appraisal has been ordered. Title is back. Closing is scheduled"

#8

Like a f@%kin Pizza tracker! I love it!

1 Like