What keeps you up as a leader of a growing real estate team? For many, it’s a frustrating feeling that you don’t know exactly what’s going on in your business. Is there enough volume in your agent pipeline to meet your monthly goals? Which team members are performing and who needs a pep talk?
Even with systems in place, it’s difficult for team leaders to hold agents accountable for their sales pipeline. It’s hard enough just getting the accountability to put the right numbers into the system to track activity and progress!
Transforming meetings is just the beginning
Online lead conversion starts as a game of volume. Given the extremely low cost per website lead, success starts with filling your lead system with hundreds or even thousands of leads to find those “ready to buy” customers and nurturing the rest until they become agent ready.
Your agents mainly focus on managing leads: keeping them calling, texting and emailing to get them an appointment. As a leader, you may be using your CRM tool to track these activities to ensure that volume is supporting your teams’ goals.
But what about how a prospect turns into an active customer in your pipeline? Understanding the potential of your business and the effectiveness of your agents in moving active customers to sales is just as important.
Liability depends on visibility
Achieving success in running an operation depends on the visibility of your sales funnel. You need to know what’s happening in real time – your showings, offers, waits, closings and your results.
While many real estate CRM systems are great at managing leads, they rarely provide the same visibility into opportunity management. Team leaders struggle with workarounds, such as trying to keep spreadsheets up to date with active customers and constantly checking in with agents to keep pipeline data up-to-date. Maybe you’re pulling data from your CRM, then manually entering that data into another system, and then creating redundancies and a process that’s just too difficult to keep up with.
Ideally, you can see your sales funnel at a glance in the same system you manage your leads.
To be an effective manager, you want to see where your pipeline is at any given time. No one likes to spend their time chasing agents to provide those numbers. And the more natural it is for your agents to update their capabilities, the easier it is for the leader to spend time analyzing and learning.
A capability management solution with CINC
To gain control of your sales funnel, it’s important to have a solution that allows you to see the pipeline in real time, without having to re-enter data manually or ask your agents to update intake forms. This ensures that your sales funnel is accurate and you can spend your time helping your team effectively promote sales opportunities instead of chasing data.
For example, CINC’s new “Deals” feature gives real estate teams real-time visibility into an Opportunity’s progress on the CINC CRM platform.
With the Deal Dashboard, team leaders can see how their book of business is progressing, view GCI potential by funnel stage, and quickly view active, won, and lost opportunities.
The advantage of managing opportunities in a CRM, rather than a separate tool, is that it’s where agents are already spending their lead time (and where you want them to focus). In CINC CRM, agents are prompted to create a deal when a lead reaches the meeting stage, so no additional data entry is required to begin tracking the opportunity.
Deals functionality also allows agents to associate multiple deals with a single lead. Purchase and listing transactions can be managed with separate pipelines and tasks, all within a single contact in CRM.
And with deal-specific reminders and tasks, agents can stay on top of their commitments and actions to more successfully move opportunities through the funnel.
Think about how much time you spend in your business moving data, as opposed to. analyzing your results and making decisions. How effective is your team at moving leads from the all-important “Appointment Completed” to “Transaction Pending?” With effective opportunity management, what you track is what you intend to develop.