A property deals pipeline is an effective way to manage, motivate and report on the process of selling a property. It is an essential tool for any real estate business.
Create a filtered pipeline to convert purchase ready leads and push the ones that aren’t into another stage for further nurturing. You can also assign edit permissions on this pipeline to users with deal access.
Lead Generation
In order to grow your real estate business, you need a consistent stream of high-quality leads. There are many ways to generate new leads, including social media, cold calling, and referrals. However, it’s important to keep in mind that converting new leads into customers requires ongoing engagement and communication.
One way to ensure your lead generation strategies are working is to use a CRM. This tool allows you to track and manage your property deals pipeline like a professional. It also helps you identify opportunities for growth. In addition, it enables you to monitor your team’s performance and productivity by analyzing data such as contact percentage, tasks due, and time to action. By analyzing this information, you can make improvements to your marketing strategy.
Filtering
As deals move through your pipeline, you can filter them based on their status and custom deal fields. These filters allow you to quickly view and access the information that’s important to your business.
Pipelines provide a framework for visualizing your sales process and identifying selling roadblocks. They also help ensure consistency in processes throughout the organization.
To customize a pipeline, select it from the dropdown at the top of the page and click Edit pipeline. You can rename the pipeline, reorder the stages, and manage access. Only users with Edit property settings access can change a pipeline’s properties and create new ones. They can also reorder the stages in a pipeline by dragging them to a different position on the grid.
Contacting
Real estate pipelines describe many processes within a real estate business, including marketing, transaction management and back-office operations. Oftentimes, these workflows need to be synchronized to ensure all functions work in unison with one another and that data is not siloed within the system.
Centralize all your critical data and information in a single tool that provides comprehensive functionality for tracking, monitoring and reporting. Easily manage your entire property deals pipeline and efficiently convert deals to owned properties.
Customize your deal pipeline stages to best reflect the way you work. Each stage represents a checkpoint, such as an activity that needs to be completed, or a checklist of tasks. You can also choose who can edit the properties shown when a deal moves into a specific pipeline stage.
Follow-Up
Proper follow-up is an important factor in any property deals pipeline. This stage of the pipeline includes tasks such as escrow, inspections, and other paperwork required to close on a property. This is also an opportunity for agents to nurture their relationships with clients by following up for a friendly check-in or congratulations.
Some dictionaries list the spelling followup as a single word, but others require hyphens when used as a noun or adjective. In either case, a real estate CRM can help you keep track of every lead and deal throughout the pipeline.
Streamline your business by setting up sales pipeline stages that make sense for your investment process. With Follow Up Boss, you can easily add, rename, and reorder pipeline stages as needed, and manage access for deals within each stage.
Closing
When a prospect has moved to this stage, it means they have agreed to the terms of your deal and are getting closer to signing a contract. This is a crucial time to make sure all parties are in agreement, especially when it comes to stipulations for the sale of the property.
Running a real estate pipeline requires that teams and stakeholders work in a consistent manner. Without documented processes, this can lead to unforeseen risks that could impact your business’s bottom line. Real estate investment firms can minimize these risks by relying on a platform that streamlines the entire workflow, allowing you to surface reliable deal comps, manage due diligence, and deploy capital strategically. This type of technology eliminates real estate pipeline management bottlenecks and empowers your team to operate at a higher level of productivity.