Hello all - I wanted to show you something I’ve been working on behind the scenes for the better part of a year now, we call it “Market Watch”
Originally I built it as a quick and easy way to run market stats for cities, neighborhoods, property types etc (for research, comps, blog posts that sort of thing)
Quickly we realized we could use it for a lot more such as running market share reports (our team vs other teams, our brokerage vs other brokerages etc)
As we began recruiting for our team this is where I realized the true value/potential of the application in that I could quickly and easily look up and compare agents we were interested in ourselves against or who might have seen significant changes in their production (those on the rise and those that may be struggling)
As we’ve built it out, we have answered additional questions such as when did they last move brokerages, and how often they move and hopefully this will give us some insights into how likely they may be to move again.
I really think with the data we have at hand the possibilities are endless and this has saved me many hours per week in terms of data analysis and research.
I’d love to know from our Realtors (especially team leaders and brokerage owners) what would YOU love to see on a report like this - either research / data on your own performance or how it compares to the market.
Here’s a quick screenshot to two so you can get a sense of what I’m doing here
Basically, what was it listed for vs what did it sell for - IE a listing listed originally at $980,000 selling for $940,000 would be 940000/980000 = 95.9% (should show at least 1 decimal)
One big challenge we face (or opportunity really) is figuring out what is the best combination of preset graph types to align with data reports
When the data is this robust and the dimensions this complex deciding what type of graph (bar, line, chart, pie etc) and how to group the data is a deep exploration. The potential combinations are literally endless - but we really there are likely less than 20 or so reports that everyone REALLY wants (on a daily basis) - would love to focus on those first
Let’s say I’m in recruiting mode and I want to run a report under $10M sales volume per year sorted by who has had the biggest drop (decent recruiting list, yes?)
But there is a big difference in terms of the recruiting effort required if someone is already on a team (easier to recruit as they are already splitting with a team) vs solo agent.
So what I would like to do is be able to “tag” agents (using the same tagging UI as REW CRM) so basically store any custom tags I want in the DB
So for this use case for example - I might tag agents “On A Team” or I might tag agents belonging to a specific team (this way I could group agents very easily)
Obviously we would want to be able to search / sort and all the good things with the tags as well.
@Morgan, are you aggregating data if a user is a part of more than 1 MLS? Duplicates sales data would increase the sold volume metrics. And in your recruiting example, the agents/brokers could exist in both MLS’s causing some skewed data if all of their sales don’t exist in both.
Not at this time, no - this is a 1-1 MLS integration (we look at actives, sold etc) but all in a single feed. We have not tackled the more than 1 MLS concept as that is a rather rare use case for most of our users (but certainly worth considering)
Also in that scenario (should we decide to take it on) there are things you can do to de-doup transitions (such as comparing address + price + closing date) and removing the dups.
My area is a little strange and I could see why you would only really be looking at 1 feed. As I think more about it, that would probably be smaller use case and the extra development time might not be worth it.
Is this going to be a tool that will be included in REW CRM as a standard feature or will it be a paid module?
It will likely be a paid module (or potentially even a completely separate spin-off software) as it is quite robust, but also data and processing-intensive. (ideally, it uses active, sold, contingent etc) so requires a lot more data storage per MLS / user than a standard active IDX-only website.
For now though - I’m still building it, so I don’t really have a sense of cost in the wild and thus how we might price it.
This is great. We build these reports manually a lot for presentations so it would be great to be able to pull within the system. We are also very interested in reporting internally re: ROI and advertising sources. Source of Leads, Volume Closed Per Source, Etc. We are new so I have not yet found that this is available - if it is I apologize and will find it!
Hi Cindy,
you can create Sources in the CRM, add a spend amount, assign leads and then see the ROI when deals are logged for the assigned leads. I sent you video instructions for the Sources setup the other day which I’ll resend in a minute, but I’d be happy to go over this on a call as well!
