Revolutionize Your Transaction Management With Real Estate Webmasters' REW Deals
Staying on top of your deals and transactions can be a real challenge. That's why REW Deals is shaking things up, transforming how agents and teams manage your pipeline from start to finish. Let's dive into how this powerful feature can help revolutionize your real estate business!
Developing REW Deals
Managing transactions can be a complex and chaotic process. Agents face challenges like looming deadlines, scattered data, and information overload that can hinder their ability to close deals effectively. Recognizing these pain points, we set out to create a tool that would simplify the deals management workflow.
REW Deals was developed to provide agents with a centralized platform that streamlines the process and eliminates the confusion caused by juggling multiple tools and systems. By doing this, agents are empowered to take charge of their prospective deals and work more efficiently. Ultimately, our goal is for you to spend less time managing the details and more time building relationships and closing deals.
REW Deals' dashboard on REW CRM.
REW Deals Overview
REW Deals provides a comprehensive platform for managing both buy and sell deals. This intuitive system breaks down the transaction process into distinct stages, allowing agents to efficiently organize and access all the necessary information required to close deals successfully.
The buy-side stages include:
- Appointments- The first stage allows users to create detailed appointment cards that capture essential information, including the meeting's purpose and date and the lead's budget.
- Buyer Contract- This section lets you enter the contract and contract date.
- Offers- This stage is where users can log offers for properties. Each offer card can be customized with property addresses and offer prices, and you can easily update the status of offers as negotiations progress.
- Pending- After an offer is accepted, the Pending stage allows agents to manage any conditions that must be met before closing. Default activities, such as title, inspection, financing, and appraisal, are provided, but agents can also create custom tasks.
- Closed- The final stage is where all the essential details come together. Agents can enter the sold price, closing date, and commission amounts while managing splits between agents and brokers. This stage provides a clear overview of the deal's outcome, helping agents finalize everything smoothly.
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The buy-side deal stages on REW Deals.
On the other hand, the sell-side stages include:
- Appointments- Like the buy-side, the appointment stage allows agents to track client meetings by adding detailed appointment cards.
- Listing Contracts- In this stage, agents can manage the contract for listing a property, entering key details like the contract date and terms before moving to market.
- Go to Market- This stage organizes all marketing activities, such as ordering yard signs, submitting listings to the MLS, and posting on social media. Agents can track progress with quick notes and add custom activities as needed.
- Offers- Here, agents manage offers on the property, including the selling price. Offers can be updated with statuses such as accepted, rejected, or countered, keeping negotiations organized.
- Pending- Once an offer is accepted, agents handle the required conditions, including title, inspection, and appraisal. Default activities are provided, but custom tasks can also be added to suit specific transactions.
- Closed- The final stage lets agents record the sold price, close date, and commission details. Agents can also manage commission splits between brokers and agents, ensuring a smooth close for every deal.
This organized system helps agents efficiently manage every step of both buy and sell transactions.
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The sell-side deal stages on REW Deals.
Leverage Deals View and Card Manager
The REW CRM's Deal Views and Card Manager give agents a powerful way to view and analyze all their important deal data in one place. These tools offer a comprehensive summary, making it easier to understand your current pipeline, assess performance, and track key metrics.
Deal Views organize information into columns for easy comparison, while the Card Manager provides a quick snapshot of totals across various metrics. Here are some of the key figures displayed:
- Sales Volume: Total sold price from all deals.
- Total Commission: Total commission earned from deals before any splits.
- Agent Commission: The portion of the commission that went directly to agents.
- Broker Commission: The brokerage's share of the commission split.
- Pipeline: The total value of deals not yet closed, representing potential sales. If there are multiple offers, the system averages them to show their contribution to the pipeline.
- Pending Deals: The number of active deals still in negotiation.
- Spend: Total marketing spend associated with the selected deals.
- Closings: The number of deals that have reached the "closed" stage.
- Cost Per Closing: Calculated by dividing the total spend by the number of closed deals.
- Cost Per Pending Deal: Total spend divided by the number of active pending deals.
- Appointments: The number of client appointments recorded within deals.
- Cost Per Appointment: Marketing spend divided by the number of appointments.
- Contracts: The total number of deals that have reached the contract stage.
- Cost Per Contract: Spend divided by the number of contracts.
- Offers: The number of offers logged in deals.
- Cost Per Offer: Marketing spend divided by the total number of offers.
Agents can customize the view and card totals for tailored insights that are most relevant to current deal statuses and activities. Additionally, our recent product update allows users to click the deals total on the Leads dashboard. Once clicked, a modal will appear showcasing the deal data.
Customizing the Card Totals displayed on REW Deals' dashboard.
Set Up REW Deals
Now that you're familiar with REW Deals, it's time to set it up! Follow this guide to get started with creating and managing your deals effectively:
1. Log in to REW CRM.
2. Navigate to "Deals" in the top menu bar.
3. Click the "+ New Deal" button located in the top right corner.
4. Upload an image (optional).
5. Name Your Deal. Type the deal name and specify whether it's a buy-side or sell-side deal.
6. Fill Out Deal Stages. Complete the fields for the applicable deal stages.
7. Add Key Information. At the bottom of the deal stage form, you'll find fields for Description, Source, Buyers/Sellers, and Linked Files. These fields will be accessible at every stage of the deal, allowing you to view and edit the information easily. Please ensure that the Buyer or Seller has already been entered into the CRM.
8. Click "Save" to finalize the setup.
To ensure your agents can manage deals effectively, you can grant them custom permissions. Here's how to do that:
1. Log in to REW CRM.
2. Click "Company" from the menu at the top right corner.
3. Choose "Agents" from the left menu.
4. Select the agent whose permissions you want to modify.
5. Click the dropdown next to "Agent Summary" and select "Permissions."
6. Scroll to Deals Privileges.
7. Select the appropriate Deals permission for the agent.
8. Click "Save" to apply the new permissions.
Set Up Deal Views and Card Totals
Once your deals are set up in REW CRM, the next step is to ensure you're getting the full picture of your pipeline. This is where you need to set up your personalized Deal Views and Card Totals:
1. Log in to REW CRM.
2. Click "Deals" at the top of the screen.
3. Click the "View" button in the top right corner.
4. Select "Manage Views."
5. Click the “+” button to add a new view.
6. Type and choose the data you want to display in the Deal View columns.
7. Click "Save" to apply the changes.
Next, you can set up the Deal totals through these steps:
1. Head to the "Deals" page.
2. Click the "Cards" button in the top right corner.
3. Select "Manage Cards."
4. Click the “+” button to add a new card view.
5. Choose the data you want to display in the cards (e.g., Sales Volume, Total Commission, Pending Deals).
6. Click "Save" to finalize your selections.
Don't forget to watch the REW Deals instructional video on REW Academy's Video Gallery.
REW Deals walkthrough video on REW Academy.
REW Deals Best Practices
Implementing best practices for managing REW Deals can significantly enhance your workflow and results. Here's how to get the most out of the REW CRM Deals feature:
- Consistent Data Entry: Regularly update deal information to maintain accurate records. Consistency in entering data, such as names, addresses, and deal stages, will help you track progress more effectively and make informed decisions.
- Utilize Deal Stages: Take full advantage of the various deal stages available in REW. Clearly define each stage—such as Appointments, Offers, and Closed—so you can quickly assess where each deal stands in the process. This structured approach helps identify bottlenecks and areas needing attention.
- Integrate Marketing Activities: Fill out the Sources field in your deal stages. Doing this allows you to utilize REW CRM's Source Management and track the ROI of your marketing channels.
- Monitor Agent Performance: This can help you identify trends, recognize top performers, and provide support or training where needed.
- Regularly Review Deal Views: Periodically review your Deal Views to ensure you're displaying the most relevant information. Adjust columns and filters based on your current goals and objectives to gain deeper insights into your pipeline.
By focusing on these top practices, you can streamline your deal management process and drive better results for your real estate business.
An updated Appointments buy-side deal stage.
REW Deals Benefits
REW Deals offers a comprehensive solution for managing real estate transactions, providing numerous advantages for agents and brokers:
- Streamlined Transaction Management: Effortlessly track every aspect of buy-side and sell-side deals with clearly defined stages. This organization reduces the risk of missing critical steps, ensuring smooth transactions from start to finish.
- In-Depth Insights and Analytics: Deal Views and Card Totals allow agents to quickly analyze sales volume, total commissions, and other critical data. This approach enables informed decision-making and helps identify growth opportunities.
- Increased Accountability: With clear documentation of every stage of the deal, agents can hold themselves accountable for their tasks and timelines, fostering a sense of responsibility.
- Marketing Results Tracking: REW Deals works together with Source Management to accurately track which marketing channels are bringing in the most quality leads and closed deals.
- Proactive Risk Management: By maintaining detailed records and monitoring deal progress, agents can identify potential issues early, allowing for proactive solutions and minimizing delays.
Visit REW Forum
Are you looking to connect with our team and fellow real estate professionals to share your insights or questions about REW Deals? We encourage you to join the REW Forum! It's also a great place to learn about other updates, features, and enhancements that can help streamline your processes. Don't miss out on this opportunity to engage and learn from others in the field!
REW Deals FAQ
What is REW Deals?
REW Deals is a comprehensive feature within REW CRM that helps real estate professionals track, manage, and analyze their buy-side and sell-side transactions.
How can I track deal performance?
REW Deals provides detailed views and cards that show key metrics like sales volume, commission, and pipeline to help you monitor active and closed deals easily.
Can agents manage their own deals?
Yes, you can set agent-specific permissions in REW CRM to give agents permission to utilize REW Deals.