Lead generation is essential in making money in a real estate role. Having a constant stream of clients looking to buy or sell ensures a steady flow of commission for the agent. In the company’s perspective, closed leads means increased revenues.
As a manager heading a group of real estate agents, what will you do to ensure that leads are being tracked, updated, and chased until closing? Do your agents have enough leads to work on? Are they bombarded with too many that they can hardly prioritize which one to act on first?
Working in a commission-based role is financially rewarding especially when the agent has a lot of properties to sell or lease. The more time and effort an agent exerts into building leads, addressing prospects’ needs and promoting their listings through various channels, earning more is within reach.
Masterkey has developed a key feature that will allow you as a manager to place limits--or caps--on the number of leads each agent is allowed to handle at one time.
What is the importance of the lead cap feature?
The benefit of the new lead cap feature is twofold:
First, we’ve introduced a new rotation type called ‘My listings only’ which indicates that the agent would like to receive leads for those units which he/she has is the listing agent. This feature is excellent for large companies in which agents do not wish to receive unwanted leads and would rather prefer to focus on their own units and areas.
Secondly,the lead caps feature can control the maximum number of leads an agent is allowed to manage at any point in time. This encourages agents to more efficiently manage their open leads, keeping only the active ones in their list. . This feature also notifies agents if he/she can still accept leads or not.
How does it work?
Masterkey’s lead rotation has 3 types:
On rotation means you are available to receive lead referrals
Off rotation means you will not be able to accept leads (e.g. if you are on vacation or otherwise unavailable).
My listings only means that you will only receive leads related to listings for which you are the listing agent.
Here are the different lead rotation statuses in Masterkey:
As a manager, you will be able to see each agents’ status, whether they are ‘On rotation’, ‘Off rotation’, or ‘My listings only’ and all relevant information will become available to your call center agents and other staff.
As an agent, you can select your rotation status as ‘On’, ‘Off’, or ‘My listings only’. These statuses will be displayed to the coordinators or call center agents who can then assign leads accordingly to the team.
In addition, guidelines can be linked to a role to enforce certain rules for the maximum number of leads an agent is allowed to have. Different roles can then be assigned to different agents.
For example, if Lead Cap rule is:
‘Total number of open leads (all types of leads) should not be > 150’
Then the lead rotation status will automatically be switched to ‘OFF’ if the total number of open leads for that agent exceeds 150. Once the total number of open leads drops below 150, then the Lead Rotation status will revert to ‘ON’.
Want to start using Lead Caps? Check out the Knowledge Base articles below to get started.
How to turn lead rotation On/Off/My Listings Only
How to control the maximum number of leads an agent can have at a time
Put agents on rotation as an admin/manager