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May
24

In this week's episode, Harley covers the Transaction Pipeline widget and how the goals and defaults work.


Video Transciption

Harley:

Hello, and welcome to Tech Tuesday presented by Delta Media Group, where today we're going to kick things off with a bit of a math problem. So a real estate agent has two properties. Add 11 more and what do they have? Happiness. Happiness is what they have.

Harley:

So today we are going to take a look at the transaction pipeline system. Now, we have some videos that have really gone through the whole transaction pipeline, the pipeline manager in depth. So this one, I'm not going to go quite as in the weeds with it. Instead, we'll just take a look at some of the kind of high level functionality on the transaction pipeline interface itself. Things like custom goals and defaults, things like that.

Harley:

Now I'll also just ... Or I should say, just to give you a little background on what the transaction pipeline does, is it keeps track of transactions that are attached to any of your customers in the system and allows you to basically link those to a pipeline phase, so you can keep an idea of how much revenue and which customers are in which pipeline phases, or which phases of your sales pipeline. And then ultimately track all that, and track all those closings as progress toward goals that you can set custom goals in here as well.

Harley:

So to get to your transaction pipeline interface, it's actually right on your dashboard page. So when you first log in, you will probably start on this page. If you don't, you can click the dashboard link over here, and that will also take you to this page.

Harley:

Now, as I scroll down a bit, now this page is customizable to a certain degree. And kind of depends on the company level, so yours might not be organized in exactly the same way mine is. And basically, every company can organize this and reorder all of these sections in the way that makes the most sense for their company and their business.

Harley:

But for me, the transaction pipeline interface is up here toward the top. And you can see we have transaction pipeline, and this is kind of the primary interface. So generally what you would do here is, you would take your customers and you can either click this add to pipeline button, and you can click add customer. You can choose a customer, choose what pipeline phase this transaction is going to go into.

Harley:

If this is a ... Let's say there was an offer made, so I can select offer made. I can click add customer, and either add a new customer or choose from my existing customers. And you can see those come up here. And I select one, it adds it there. Down here, if I do have a transaction already in place, so for example let's say that I have a listing that's already in the system. So I'm listing it, and an offer just came in on that listing.

Harley:

I can merge this to the record that already exists for that listing. So I would click merge, and I would find that transaction already automatically created for the listing I have, and that would tie these things together. So it would tie the seller to the listing, and then ultimately tie the transaction or the upcoming transaction record, based on what I fill out here, to that customer and that listing and that pipeline phase. All in one kind of fell swoop here.

Harley:

So that's the general idea of this platform. Now in many cases at different companies, we are actually pulling in data programmatically from a transaction management interface. And if that's the case for you, you may not even need to enter these. They may just come in for you automatically. And then the only thing you need to do in here is potentially move things between the pipeline phases.

Harley:

But again, depending on the third party we're getting the transaction data from, we may be getting that stuff from them also. At that point, the only thing you really need to do here is set the goals, and then keep an eye on those. Because the transactions will be going where they need to.

Harley:

So that's the general idea here. Going down the line, if I wasn't pulling in information automatically and I did want to finish filling this out, I would just choose then what kind of transaction this was, or what kind of purchase, or whether this was a purchase or a listing transaction. And you can see that the listings are automatically pulled in. And that's when I would use that merge to connect those together.

Harley:

A lease or a referral. So I can choose my transaction type there, set my closing date. At this point I'm saying that this is a offer made, so I might not have a closing date at this point. So I could leave that blank, or I could set it to what I expect the closing date to be.

Harley:

Can set my price in here. Again, this can be changed later on. You can go back and edit these transactions, so that doesn't have to be perfect either. That could be the list price for now, and then you could change it to the actual price when you do change the phase to closed. And you can choose whether it's an investment property or primary residence, and then lay out the property information here and hit save. And that will save your transaction.

Harley:

Now this little added piece here is also a little convenience piece. So right now I'm saying this is a purchase. I'm saying this is the customer that's purchasing the property. So I would check this box if they're purchasing it as their primary residence. And then the system will automatically set this property information as this customer's primary address. So just nice convenience piece, so that you don't have to go back and do that later.

Harley:

If they were buying it as an investment property, anything like that, then I wouldn't check this box. And then the transaction record would still be in there, it just wouldn't change their address. So I'll go ahead and close this out.

Harley:

And then you can see that as I add those, all of those transactions will show up in this list down here. Where I can modify them, I can change my potential earning, I can edit the transaction record itself or even remove those transaction records, all from right here. Now, by default, when I first hit this page, it is viewing all pipeline phases. But I can narrow this down by just clicking on a pipeline phase here. And you can see it changes the results to just those transactions that are in the pipeline phase I've selected.

Harley:

Now, this one is an example of one of the listing ones. I have this listing, but no customer is attached to it, there's no transaction record, it just automatically builds this record for me when I have a listing. And then I can add a customer to it down the road. And when it sells, switch it to the closed phase and all that.

Harley:

So the things we'll mainly take a look at here, now that just kind of gives you some background, just a general idea of what the transaction pipeline interface is for, and how you can use that. But some interesting things you can do here on just this interface is, first off, you can look at previous years or even next year if you'd like, depending on whether you have transaction records that exist in those previous years or in the future. So if I wanted to see last year's transactions, you can see I have three, I'll select that and it shows me those transactions. And also my goal numbers, so I know how I did last year.

Harley:

Back to 2019, I apparently did more testing at that point. And you can see I have more in there. So this will show up for every year you have any transaction records. So it's just a nice way that you can keep history in there, as long as you're kind of continually using this transaction interface.

Harley:

So we'll switch it back to our current year. The next thing I can do is I can adjust my goal amounts. So this lets me set a income goal, a unit goal, and a volume goal overall. And then some functionality we just added here is allowing you to set your default pipeline view. You can always change this view just on the fly when you go to this page, but maybe you typically are operating off of GCI, so that's what you want it to default to. So when you first land on the page, that would be what's selected and then you can change it from there if you want.

Harley:

Now, the other things you can do here is add in your average commission. So average split, or average commission per-side, really. And then what the franchise company and agent split generally looks like.

Harley:

This is also just a default calculation. So if you don't go in and manually change the amount of commission you made on a specific closed transaction, this is how it will make the calculation to decide how that contributed toward your GCI goal, your unit goal is the same either way. The volume goal is just the property price, obviously. So these numbers are just calculating your split, which is calculating your income goal.

Harley:

So when you have this all set up you just hit update goal. And that controls your primary goals here, as well as your default tracking type here. So I have units selected right now, so right now it is calculating these things against my unit goal. You can see my unit goal, 160. I have 16 total. And then 40% of that's enclosed. We'll roll over there, there we go.

Harley:

And 60% of it is in listed slash negotiation, and that's what pipeline phase it is. So we make sure all of these stay color coordinated with what we have in the pipeline funnel, just to make things easy to read there.

Harley:

Now, if I did close a transaction, we'll go to our closed transactions here. And let's say that there was something special about this transaction, where my split didn't follow what the normal default split is. I can click this pencil here, and that allows me to set the override amounts for how much I actually made from this property. So that way I can set that on a per-transaction basis, if there was anything special that went into any of those.

Harley:

So now we'll close that out. So the next thing you can see is that this has units selected. Right now tracking this by unit was my default selection on this goal menu. So if I go to GCI, you can see that now it's laying out all the GCI numbers, as well as my progress toward that goal. I'm well over goal, I'm doing good this year.

Harley:

Switch it to units, everything changes to units. Switch it to volume, everything changes over to volume. So a total percentage of my volume goal, apparently I sold one very solid property there.

Harley:

So, you get the idea. That is what allows you to switch between these. So defaults to units, but I can switch back and forth however I'd like, as I see fit. Now, if we scroll on a little further, the next thing I can do is I can create custom goals. So you can see my unit's goal. I can just click on new custom goal, and then here I can create a unit goal, a volume goal, or a GCI goal.

Harley:

And I just give that a title, total amount, depending on what kind of goal it is. So custom goal amount. This is for dollars, so this is for GCI. This one is total number of units, so for the unit goal, and this one is the volume goal. So you can see volume laid out there.

Harley:

So even though, basically if I set this up as a GCI goal for example, then I would only fill in this GCI units, because that's the only piece I really care about here. And then I give it a title. The nice thing about this is that if the company is running any goals, so let's say you are normally tracking GCI, but the company has a volume goal or maybe your commission split changes when you get over a certain volume, this allows you to determine that.

Harley:

So you can go in and set yourself. So you can just keep track of that, basically keep track of the point where that commission split changes. And then when you hit it, you'll be able to very easily see down here in this goal bar when you've reached that point, and when your commission values will change.

Harley:

So there you go. That is the transaction pipeline interface. Like I said, just covering the surface of it this time. Keep in mind that you can see and create these transactions from the customer profile pages, also.

Harley:

But in the previous transaction pipeline video, we get a little bit more in depth on that, so you can actually see what that looks like. So in the interest of keeping this nice and pointed, there you go.

Harley:

So thanks a lot for joining me. Don't forget to like and subscribe if you're getting any use out of these videos, and you're enjoying watching them, you want us to keep bringing them to you. And if you have any questions, comments, and concerns, feel free to reach out to our support team by emailing support@deltagroup.com. Or give us a call and we can help you out with this, or whatever else you need. Thanks a lot.

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