What's New: Buyer Compensation and Lead Pools
We've got some seriously exciting news to share with you! Our team has been hard at work behind the scenes, cooking up some major updates that we know you're going to love. Introducing our latest gems: the brand-new buyer compensation tool, designed to bring transparency amidst uncertainty, and Lead Pools, set to revolutionize your lead organization game. Let's take a stroll through these updates and see how they're about to make your lives a whole lot more efficient. Let's dive in!
Buyer Compensation Tool
In the wake of the Burnett court ruling, which dealt a significant blow to major brokerages and the National Association of REALTORS® (NAR), the buyer agent compensation in real estate has experienced a profound transformation. Gone are the days of freely displaying buyer commissions on MLS listings, which posed a transparency issue for real estate professionals.
We've taken proactive steps to address the challenges brought about by these developments by introducing the buyer compensation tool on our Renaissance platform. This new feature aims to provide a solution that empowers agents to navigate this new era with confidence and clarity.
The current version of Renaissance enables our clients to label and display their buyer commissions on their listings, whether by dollar amount or percentage. This compensation feature is also fully customizable to align with your preferences or adhere to state/board requirements.
This tool is automatically turned on in the latest Renaissance and can be edited under IDX in the Settings. Pick the Compensation tab to customize labels, select feed visibility, and configure offices. Please take note to only include the offices you are part of. Once enabled, the Compensation tab under Listings displays labeled listings and their associated compensation details, allowing for easy editing or removal of information.
List of properties with their corresponding buyer compensation details.
Streamline Lead Management with Pools
Lead Pools offers a fresh approach to categorizing and streamlining leads. With this latest addition, unassigned leads won't be languishing in obscurity. Instead, you can now easily add them to a designated pool, and agents actively seeking new leads can handpick the ones they wish to work on. This seamlessly transitions the unassigned leads from the pool to an agent, ensuring that no opportunity is overlooked and that agents can efficiently capitalize on promising prospects.
To set up pools in REW CRM, navigate to MySetup, Pools, and click the +New Pool button. From there, you can specify a name, description, and color label for the pool and designate which agents have access to claim leads from it. Additionally, you can now create routing rules to automatically assign leads directly to pools. Simply access the routing rules screen by going to Settings, Leads, and then Routing, where you'll find an option to designate leads straight into a pool. Utilizing Lead Pools optimizes lead assignment and enhances overall workflow efficiency.
Adding unassigned leads in a pool called 'Luxury Leads'.
Other Updates and New Features
In addition to the Buyer Compensation Tool and Lead Pools, here are the other updates you can't miss:
- Agent Line Graphs: Now, on agent views, you'll find line graphs showcasing a historical timeline of stats such as calls, deals closed, emails sent, logins, and more. This feature offers invaluable insights into agent performance over time, empowering you to track progress and make data-driven decisions.
- File Links in Deals: Say hello to enhanced deal management! With the ability to add file links directly within Deals, you can seamlessly attach crucial documents like buyer contracts. Streamlining document access ensures smoother transactions and eliminates the hassle of searching through multiple platforms.
- Agent Response Times: We've bolstered agent views with new columns highlighting response times. From best response times to average and worst, you now have a comprehensive overview of agent responsiveness. This invaluable data enables you to optimize communication strategies, ensuring timely interactions with clients and prospects.
- Bulk Deletion of CMS Pages, Snippets, and Blog Posts: Managing content just got a whole lot easier! With our latest update, you can bulk delete CMS pages, snippets, and blog posts with simple clicks. This streamlined process saves you valuable time and ensures your content library remains organized and up to date.
With these powerful CRM enhancements, we're committed to empowering you with the tools and insights needed to thrive in today's competitive landscape.
The new line graph on REW CRM's Agents dashboard.
R&D Roadmap at Summit
Join us at REW Summit in Nashville and be a part of our R&D Roadmap session. This is your chance to get a sneak peek at the upcoming updates we have in store and even pitch in your own ideas. As a special treat for attendees, we're also offering a massive 35% discount on SEO and custom work. Mark your calendars and join us for an event that promises innovation, collaboration, and unbeatable savings. See you there!
Discover upcoming releases and features at REW Summit.
New Releases FAQ
What is the Buyer Compensation Tool?
The Buyer Compensation Tool is a new feature on our Renaissance platform designed to address the transparency challenges in real estate following the Burnett court ruling. It allows agents to label and display buyer commissions on MLS listings, offering clarity in a transformed landscape.
What benefits does Lead Pools offer?
Lead Pools streamline lead management, enabling unassigned leads to be added to designated pools. This allows agents to select and work on promising prospects, ensuring no opportunity is overlooked.
How can I learn more about upcoming updates and provide input?
Join us at REW Summit in Nashville for our R&D Roadmap session, where you'll get a sneak peek at upcoming updates and share your ideas. Additionally, be a part of our Forum to stay up to date with our new releases.